AN ANALYSIS OF MICRO BUSINESSES IN PALAYAN CITY USING SWOT MODEL: BASIS FOR DEVELOPMENT PLAN

Author Name: 1. Dr. Fhrizz S. De Jesus 2. Jan Michael Asis

Volume/Issue: 02/01

Country: Philippines

DOI NO.: 08.2020-25662434 DOI Link: https://www.doi-ds.org/doilink/07.2021-14533376/UIJIR

Affiliation:

Nueva Ecija University of Science and Technology, Philippines

ABSTRACT

Despite their high rate of accomplishments, most of the state's MSMEs appear to be failing in their sustainability, implying that these MSMEs are facing huge problems of vulnerabilities and risks that are impeding their performance. This descriptive study aimed to evaluate the analysis of micro-businesses in Palayan City using SWOT analysis regarding its strengths, weaknesses, opportunity, and threats to establish a development plan for the business operations. This is critical as it can enable micro-businesses or entrepreneurs to comply with their needs according to their strengths, weaknesses, opportunities, and threats. Results revealed that most of the respondents considered loyal customers were critical to business success. The findings of the SWOT study indicate a notable degree of concern given to customers who have already shown loyalty, and the overall customer acquisition strategy has a head start on customers that have shown their loyalty. All micro-businesses in Palayan City, regardless of their financial profile, have numerous competitors in the area which increases their competitiveness. Each of them has a different strategy for dealing with their challenges. This study also revealed the threats of the respondents in their operation which became the basis of recommending a development plan which can be used in stabilizing the business performance, and in increasing the growth in the market.

Key words: Micro businesses, Strength, Weaknesses, Opportunity, Threat.