Savings Praxis of the Owners of micro, small and Medium Enterprises in San Antonio, Nueva Ecija: A Basis for Developing a Savings Plan

This study was conducted to describe the savings praxis of the Micro, Small and Medium Enterprises (MSMEs) owners in San Antonio, Nueva Ecija, to be a basis for developing a savings plan. It determined whether the owners are properly managing their financial resources while still having the means to establish savings. The study utilized a descriptive research method with 148 respondents who were actively operating in the research locale. Respondents had been identified using convenience sampling. The main instruments of the study were the structured questionnaire and the unstructured interview guide. Generally, most businesses in San Antonio were considered micro businesses. The majority of the owners who responded to the survey were female, married, had one to four family members, and depended solely on the business' income. High prices of essential commodities and the fact that they used their earnings in education were the main reason why they saved only a small percentage of their income. Most of the respondents already had experience saving in banks since they knew the benefits of saving money. Upon choosing their preferred form of savings, most businesses recognized the bank's reputation, which was very important because they highly considered their money's security, which most of them kept for emergency use. The researcher recommended promoting educational campaigns to increase awareness and enhance enthusiasm for savings for the business owners and most Filipinos.