International Journal of Research Studies in Management
Tourism Educators and Movers of the Philippines Special Issue
2022 Volume 10 Issue 5
Available Online: 12 October 2022
Author/s:
Prangue, Rizza*
Divine Word College of San Jose, Philippines (rizzaprangue16@gmail.com)
Tampol, Renato A.
Divine Word College of San Jose, Philippines (natoytampol@gmail.com)
Abstract:
This study was conducted to identify the economic impact of the new normal on micro enterprises in Magsaysay, Occidental Mindoro. Specifically, the study determined the profile of entrepreneurs in terms of type of industry, number of employees and capital and to determine the level of awareness in terms of the official memorandums as released by DOH, DOLE and the National Government. This study used the descriptive research approach in answering the research questions and aimed to formulate strategies on enterprise in relation to recovery using evidence obtained from local survey conducted from the mid of January to first week of February 2022. Results show that most of the respondents came from the tertiary sector of industry, have 15 and below employees and have a capital of less than PHP 100,000. Indicators of economic impact such as job, economic output and value added were moderately observed by most of the respondents. Further, the results of the regression analysis reveal that the type of industry and capital which are linked to job impact and household income respectively. The researcher recommends that the local authorities can also help MSMEs to reduce financial burdens by providing subsidies micro-financing industries to help them to survive from crisis. Opening of new job and employment opportunities along with the intense dissemination of the memorandums released by Department of Health, simultaneous continuity of sharing memorandum released by Department of Labor and Employment and National Government must be monitored.
Keywords: economic impact, micro enterprises, entrepreneurs, new normal, descriptive research
DOI: https://doi.org/10.5861/ijrsm.2022.55
Cite this article:
Prangue, R., & Tampol, R. A. (2022). Economic impact of the new normal on micro enterprises in the municipality of Magsaysay, Occidental Mindoro. International Journal of Research Studies in Management, 10(5), 47-56. https://doi.org/10.5861/ijrsm.2022.55
* Corresponding Author