Financial Resource Management Towards Sustainable Operations of RCEP-funded Farm Machinery Enterprises in Science City of Muñoz

( Vol-8,Issue-9,September 2022 )

Author(s): Angeline A. Adajar, Kimberlene D. Batacan, Chyrisse Buendia, Paul John V. Gabay, Felipe E. Balaria

Total View : 831
Downloads : 168
Page No: 01-04
DOI: 10.22161/ijaems.89.1

Keywords:

Financial resource management, sustainable operations, rice farmers’ associations, rice farm machinery enterprise.

Abstract:

This descriptive study looked at the financial resource management of Rice Competitiveness Enhancement Program (RCEP)-funded farm machinery firms in the Science City of Muñoz. To obtain data, a survey questionnaire with a consent form was employed. The data gathered were analyzed using frequency counts and percentages. All of the Rice Farmers Associations (RFAs) who were chosen purposively as respondents of this study own and operate four-wheel tractor services in the form of an enterprise. Findings of the study show that the preparedness of most respondents was attributed to the existence of a financial and operational plan. Also, using tools for up-to-date recordkeeping of financial transactions was an indicator of sustainable operations. On the other hand, financial dilemmas such as the lack of operating capital and incorrect allocation of funds, so as the inability to collect unpaid obligations and delayed payments from farmers, consequently led to unsustainable operations.

Received: 10 Aug 2022; Received in revised form: 27 Aug 2022; Accepted: 02 Sep 2022; Available online: 09 Sep 2022

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