An Assessment on Business Sustainability: Insights from Small and Medium Enterprises (SMES) in the Select Municipalities of Aklan

Abstract

The study investigated the sustainability practices of small and medium enterprises (SMEs) in selected municipalities in Aklan, Philippines, focusing on businesses that have been operational for over five years. Recognizing the vital role SMEs play in economic development, the research aimed to identify effective strategies that contributed to their longevity and success. Through qualitative interviews with seven SME owners, the study explored key themes such as customer-centric approaches, adaptation and innovation, and effective operational and financial management. Findings revealed that these enterprises have achieved significant financial growth while adopting environmentally friendly practices and prioritizing social responsibility. However, challenges such as market dynamics, resource limitations, and regulatory compliance persist. The study emphasizes the importance of collaboration, clear communication, and personalized strategies in overcoming these obstacles. Ultimately, the research provides valuable insights for SME owners, policymakers, and support organizations, highlighting the need for tailored strategies to enhance sustainability and foster long-term success in the competitive business landscape.