Quick asset management and performance of pottery-making businesses: A correlational study

Abstract

This study assessed the quick asset management and its effect on the firm performance of pottery-making businesses of San Nicolas, Ilocos Norte. Utilizing a descriptive correlational research design and survey data from 34 pottery-making business FRESHEowners, the study examined the business profile, quick asset management and associated problems. Data were analyzed using frequency and percentage, weighted mean, and Spearman’s Rank-Order Correlation Coefficient (Spearman’s Rho).

Findings revealed that pottery-making businesses in San Nicolas, Ilocos Norte, Philippines are well-established, with experienced operators sustaining the industry. However, owners often lack formal financial education and literacy, resulting in several operational challenges. These include inadequate use of forecasting tools, limited understanding of cash-flow patterns, insufficient systems for monitoring collections, and restricted access to modern tools and equipment. Such weaknesses can hinder financial efficiency and overall business performance.

This study concludes that pottery-making businesses with continuous years of operation, still indicates weak structure of financial performance. In contrast, the non-financial performance of pottery-making businesses contributed in maintaining the years of operation of pottery-making businesses. Recommendations include strengthening financial management skills, encouraging use of simple bookkeeping, taking advantage of online market platforms and local trade fairs, providing skills and entrepreneurship training, and further research.