Financial Performance of Rental Gowns and Suit Business in Batangas

Financial performance serves as the compass of the business. An enterprise’s financial performance is a good indicator of where it is headed. It outlines the company’s position, strategy, and long-term viability. This disclosure displays the perspective of the business as well as its financial security, two of the main considerations for investors when considering an investment and for company owners. Incorporating frequent financial performance monitoring into effective company practices is a critical component of running successful business. This study aimed to assess the financial performance of the Taal, Batangas-based Rental Gowns and Suit Business. Also, this study used a descriptive method which pertained to 52 rental gowns and suits owners in Taal, Batangas who qualified to be respondents of the study. The questionnaire is modified and adapted from Financial Performance of Wardrobe and Garment Industries in Batangas City which also discussed the firmographic profile, liquidity, solvency, and profitability of embroidery business in Batangas City. All data gathered were tallied, encoded, and interpreted using descriptive statistics, specifically IBMSPSS Statistics version 23. The rental gown and suit firms in Taal, Batangas generally agreed on the performance indicators in terms of liquidity, solvency, and profitability relevant to the level of financial performance. Businesses with financial debt respond significantly different in terms of liquidity. On the other hand, there was no significant difference in responses in the solvency and profitability when grouped according to profile variables. Thus, to aid in the improvement of the financial performance of rental gowns and suits in Taal, Batangas, a plan of action was also prepared.

Keywords – Financial performance, gown and suits, liquidity, solvency, profitability.