Hello tutors. I am looking for ideas or to check if this is right. This is a conclusion for titled financial management issues during startups. the attached pictures are from answers of respondents. do you have something to add or

CONCLUSION

Importance of financial management cannot be over-emphasized. It is, indeed, the key to successful business operations.Majority of small-business issues during startups relate to the lack of capital to finance the business. Starting up a business for them is a difficult task particularly when it comes to funding. Resulting to lend money in maintaining sufficient capital to cover start-up costs as well as for maintaining and expanding operations. Management of expenses especially personal and daily needs that will be get from income generated have a negative effect on sustainability. Another problem is the ability to maintain profitability. The times when there were no customers which affected sales. During the abrupt rise of these issues, they responded to it by keeping up, handling financial well, seeking help from family, loan, and using personal savings as well. Moreover, coping mechanisms during these startup issues are securing a loan, bargaining with supplier, keeping track of finances, listing debts, paying on time, and eliminating unnecessary spending. Therefore, capital and funds must always be both available and accessible, at any given time, for any part of the business operations especially during startup. This is impossible without financial management. Unknowns and unexpected are expensive, financially, if funds must be borrowed.

The importance of financial management cannot be over-emphasized. It is, indeed, the key to successful business operations. The majority of small-business issues during startups relate to the lack of capital to finance the business. According to the respondents, starting up a business is a difficult task, particularly when it comes to funding resulting in lending money to maintain sufficient capital to cover start-up costs as well as for maintaining and expanding operations. Management of expenses, especially personal and daily needs that will be met from income generated, has a negative effect on sustainability. Another problem is the ability to maintain profitability, the times when there were no customers, which affected sales. During the abrupt rise of these issues, they responded to them by keeping up, handling finances well, seeking help from family, loans, and using personal savings as well. Moreover, coping mechanisms during these startup issues are: securing a loan, bargaining with suppliers, keeping track of finances, listing debts, paying on time, and eliminating unnecessary spending.

Therefore, capital and funds must always be both available and accessible at any given time for any part of the business operations, especially during startup. This is impossible without financial management. Unknowns and unexpected events are expensive, financially, if funds must be borrowed.

# Respondent 1- Buwakan \"I. What are the financial management issues of the selected small businesses? 1.1 Please tell me about your business experience before, if there's any: This business was actually owned by my mother. After pandemic, I am the one who managed our business because my mother got ill. When I started managing the business it was difficult because of the pandemic. We started with a small capital and small customers until we have loyal customers. 1.2 What leads you to start a business? -It was because it started from my grandma passed unto my mother and them passed to me, it was a family business after all. 1.3 What financial issues did you encounter during your business start-ups? -When you start a business there will be time that there will be no customers which affect our sales. When you start a business you should be a risk-taker because not all the time the business will be booming. 2. How the small business cope with the financial management issues? 2.1 What are the actions taken during the abrupt rise of financial management issues? In order to rise through that financial management issues we should manage our finance well and handle our customers with care because without the customers we are nothing. 2.2 What are the financial coping mechanisms implemented? With the help of my family and friends I was able to rise through the financial issues. Another coping mechanism was having a loan, and bargaining with my suppliers. 2.3 For the benefit of those who want to start a business, what would your advice or recommendations to reduce the risk of the financial management issues? You should have financial management because not all the time your business is always booming, there are also times that you business will be down. You should also never give up. Respondent 2- Eatery 1.1 -none 1.2 What pushed me to have a business is my family because since I was a child we are 7 V J L business oriented already. 1.3 One of the financial issues I have faced during my start-up is the lack of capital. When you want to engage in a business there should be enough capital to sustain your business. 2.1- When I started my business there will be a time that I mixed my business and personal expenses. Also, I cannot pay my bills on time. 2.2 - When I am low on money and don't want my business to close I will loan or lend money. 2.3- If you want to start a business be sure to have enough capital and extra money because of unforeseen events. Respondent 3- Kurtinahan 1.1- -None, since it is my first ever business. 1.2- The one who pushed me to have a business is myself because I want to be able to have my own money. 1.3- When you are starting a business, the number one thing that will always hunt you down is where to get your capital. Another is how will I budget my money because sometimes the money for our everyday needs will be deducted from the profit that we gain. It was difficult though because ofthe pandemic. During the pandemic was the time when money is so hard to look for because of that, I decided to have a business like selling barbecue and popcorn to cover our needs. 2.1 -When faced with financial issues it is not only the finance that you are facing, but you will also experience an emotional breakdown. When I will have an emotional breakdown I will share it with my family and someone close to me so that it will not burden me. In the case of financial l shortage, I will seek financial help from my family and relatives. 2.2 The financial coping mechanisms that help me through it is I keep track of all my finances, listing my debts and paying them on time, and eliminating unnecessary spending. 2.3- To those people who would want to start their small business someday, the advice that I will say to you is that you start with a small capital and manage your finances well Respondent 4 Dry goods' 1.1- When I was still around 12-16 years old I already have the mind of an 7 T J L entrepreneur, every single day | sell different goods like pandesal, banana cue, etc. 1.2- What drove me to have a business is the lack of financial support for the daily needs of my family. I don't want to see my family having a hard time thinking about where to get money, food, etc. 1.3- The financial issue that will always be present when you start a business is a capital and how to secure funds for my growing business. 2.1- When I am short on money my always goto is to get a loan or 5/6. 2.2- | always think that when you want to achieve something you must work hard, because hard work beats talent when talent does not work. 2.3- If you want to start a business start it with a small capital first so that you will be able to see if your business is feasible to the market and people. Respondent 5- Ukayukay 1.1- When I was still 14 years old. l was already a businessman. My business before is the same until now. 1.2- What pushed me to have a business is that I don't want to depend on my finances from my big brother. I wanted to learn how to be independent and how to manage my own finances well. 1.3- financial problem 2.1- There are always my family and close friends that I can run to when I have a problem with finances. 2.2- With all the challenges I have faced in running a business financial, mental, etc. I always think positively and do not let problems hinder me from doing my best. 2.3- If you want to start a business you need an accessible location that is feasible to the customers. For me, the location of your business really plays a big role in the success of your business