Authors:
Catherine C. Viesca, Nimrod A. Ybera, Sumera Saleem, Majid Ali, Pirnazarov Nurnazar, Femmy Effendy
Addresses:
College of Management and Governance, University of Antique, Sibalom, Antique, Philippines. Department of Economics, Arid Agriculture University, Rawalpindi, Punjab, Pakistan. Department of Economics and Agricultural Economics, Arid Agriculture University, Rawalpindi, Punjab, Pakistan. Department of Social Sciences, Sarbon University, Paris, Île-de-France, France. Faculty of Economics and Business, Universitas Nusa Mandiri, Jakarta, Indonesia.
Abstract:
The researcher conducted this descriptive study to assess the extent of business challenges encountered by small and micro enterprises (SMEs) in their functional areas in Antique province, Philippines. The researcher-made questionnaire-checklist on the extent of business challenges in the functional areas of small and micro enterprises, validated by experts, served as the study's data-gathering instrument. The study used frequency counts, standard deviations, means, independent-samples t-tests, and One-Way Analysis of variance to analyse the data. The study's results, involving 314 respondents from small and micro enterprises (SMEs) in Antique province, showed a balanced distribution across geographical locations, a diverse demographic profile and a female majority. Businesses were mainly small sole proprietorships in the retail sector, with most owners having prepared a business plan. Funding came mainly from personal savings, underscoring a preference for self-financing. Micro and small firms struggle most with marketing, especially developing effective promotional techniques, although quality, operations, and human resources are also difficult. Maintaining financial records, getting financing, and managing cash flow are equally difficult, highlighting the need for financial knowledge and management skills. However, depending on business size and years of operation, small and micro companies (SMEs) faced different obstacles. No significant variations were detected by age, sex, highest education, location, organization type, business kind, number of employees, written business plan, and funding source.
Keywords: Financial Management; Small and Micro Enterprises; Business Plan; One-Way Analysis; Financial Literacy; Data-Gathering Instrument; Management Skills.
Received on: 06/12/2024, Revised on: 31/01/2025, Accepted on: 14/05/2025, Published on: 05/06/2026
DOI: 10.64091/ATIML.2026.000336
AVE Trends in Intelligent Management Letters, 2026 Vol. 2 No. 2 , Pages: 51-69