Impact of Covid-19 Pandemic to the Profitability of Villarica Pawnshop Labo Branch, Philippines

Nico Ogarte; Rina Rodelas; Harvin Ong; Sofia Vergara; Angela Padua

doi:10.56741/jmsd.v2i01.110

Authors

Nico Ogarte
nico.ogarte@unc.edu.ph
University of Nueva Caceres
Rina Rodelas Maria L. Eleazar General Hospital
Harvin Ong Social Entrepreneur in Naga City
Sofia Vergara Quantrics Enterprises Inc.
Angela Padua Department of Social Welfare and Development-Region V of the Republic of the Philippines

DOI:

https://doi.org/10.56741/jmsd.v2i01.110

Keywords:

Company Policy, Customer Dealings, Government Intervention, Profitability

Abstract

Pawnshops are one of the Financial Service Providers (FSP) in the Philippines that are helping to expand underserved and unserved clients' access to financial services. Pawnshops, like the Villarica Labo branch in Camarines Norte, have verified their financial difficulties. Since the outbreak of the pandemic, they have seen a decline in their income. This study aims to know the status of Villarica’s business operations, the factors affecting its profitability, the level of profitability, and the relationship between status and factors to profitability. A descriptive-correlational research design was utilized to describe the variables and identify if there is a significant relationship present. Results have shown that Villarica Labo branch has a very satisfactory performance in its operations despite the pandemic. It also revealed that factors under Government Intervention very highly affects its profitability. Clearly, the pandemic has negatively affected their earnings. Along factors, the customer dealings, company policy, and business competition also have a positive relationship with profitability while government intervention has shown negative relationship. Recommendations mainly focused on transitioning the business into digitization with the inclusion of a business continuity plan during the pandemic lockdowns.

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Author Biographies

Nico Ogarte, University of Nueva Caceres

Nico Ogarte is a Research Officer in the University of Nueva Caceres, Philippines. He often conducts research in the business field, like marketing research or feasibility studies, and community development projects that promote sustainable programs. (email: nico.ogarte@unc.edu.ph).

Rina Rodelas, Maria L. Eleazar General Hospital

Rina Rodelas is an Administrative Staff in Maria L. Eleazar General Hospital. She is a cash operation staff responsible in handling income and disbursement of petty cash. Currently, she is taking her Master in Business Administration in the University of Nueva Caceres, Philippines. (email: rina.rodelas@gmail.com).

Harvin Ong, Social Entrepreneur in Naga City

Harvin Ong is a Social Entrepreneur in Naga City, Philippines and co-owner of Omnaturals Products. He is also a Licensed Financial Advisor in AIA, Philippines which he does as a part-ti me job. On the side, he is finishing his Master in Business Administration with a graduate thesis focusing on customer attitudes towards social enterprise products. (email: harvin.ong@unc.edu.ph).

Sofia Vergara, Quantrics Enterprises Inc.

Sofia Vergara is a Case Manager in Quantrics Enterprises Inc., Naga City, Philippines. She assists customers with account management and receives escalations from frontline agents. Also, she is finishing her Master in Business Administration in the University of Nueva Caceres where she also co-authored an action research for agribusiness. (email: sofia.niav@gmail.com).

Angela Padua, Department of Social Welfare and Development-Region V of the Republic of the Philippines

Angela Padua is a Financial Analyst II at the Department of Social Welfare and Development-Region V of the Republic of the Philippines. maintains an updated database of funds releases and utilized; primary responsible person on reports and is the source of all community financial data for analysis of other unit staff. She has also taken her Master in Business Administration in the University of Nueva Caceres, Philippines. (email: angelapadua.dswd@gmail.com).

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