LAKASABrowsing by Author "Emperador, Reina Thea D."

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Financial literacy and access to services of micro entrepreneurs in the City of San Fernando, La Union
(Don Mariano Marcos Memorial State University – Mid La Union Campus, 2025-05) Rivera, Arabel C.; Bornalo, Roxanne C.; Calapati, Nina Ricci A.; Emperador, Reina Thea D.; Malapit, Jorge Daniel S.; Bayani, Keneth G.; Gacayan, Daniel B.; Parrocha, Hernan L.; Siong, Venus D.; Quinitip, Tiffany Ruth R.
Financial literacy plays a vital role in making sound financial decisions that contribute to the growth and stability of a business. This study explores the financial literacy and access to financial services of microentrepreneurs in the City of San Fernando, La Union. A cross-sectional survey and correlational research design were utilized among 356 microentrepreneurs within the central business district. Findings revealed that respondents generally demonstrated a high level of financial literacy regarding financial knowledge, attitude, and behavior. However, results show limited access to different key areas. Access to financial products and services does not depend on knowledge alone. In response, the study recommends collaboration among microentrepreneurs with financial institutions and local government units to strengthen support and policies that empower them to make sound financial decisions and use proactive strategic approaches. Furthermore, future researchers should explore other methods to understand what influences microentrepreneurs in accessing financial services.