Thesis-Impact of Covid-19 Among Vendors

THE IMPACT OF COVID-19 AMONG THE VENDORS OF NASIPIT AGUSAN
DEL NORTE
__________________________________________________________
A Thesis Presented to
The Faculty of the College of Tourism, Hospitality,
Business Administration and Management
Saint Michael College of Caraga
Nasipit, Agusan del Norte
__________________________________________________________
In Partial Fulfillment
of the Requirement for the Degree
BACHELOR OF SCIENCE IN BUSINESS ADMINISTRATION
major in FINANCIAL MANAGEMENT
_________________________________________________________
By
NIŇOLINO J. CADIZ
GLORIANNE GAIL A. FELIAS
JOHANNA MAE K. PABATANG
May 2021
iv
TABLE OF CONTENTS
TITLE PAGE
PRELIMINARY PAGES
Title Page i
Abstract ii
Acknowledgement iii
Table of Contents iv
List of Tables
v List of Figure
vi
CHAPTER
I INTRODUCTION
Background of the study 1
Theoretical Framework 3
Schematic Diagram 6
Statement of the Problem 7
Hypothesis 8
Scope and Limitations
8
Definition of Terms 8
II Review of Related Literature
Related Literature 10
III Research Methodology
Research Design 28
Research Locale 28
Research Respondents
29
Research Instrument 30
Ethical Standard 31
Data Gathering Procedure 31
Statistical Treatment 32
IV. RESULTS AND DISCUSSION 33
V. CONCLUSION AND RECOMMENDATIONS 48
SUPPLEMENTARY PAGES
Bibliography
Appendices
A. Letter of Permission to the Municipal Mayor of Nasipit
B. Research Instrument
C. Respondents Consent Form
D. Map of the Location
E. Curriculum Vitae
F. Letter of Permission to the Author
G. Documentation
v
LIST OF TABLE
TABLE NO. TITLE PAGE
1 Respondents of the Study 30
2 Distribution of the Respondents as to 33
Classification of Market Vendors
3 Level of Operating Performance before the 35
COVID-19 Pandemic, in terms of Daily Sales
COVID-19 Pandemic, in terms of Daily Operating Cost
COVID-19 Pandemic, in terms of Pay-back Period of
Cost Recovery
6 Level of Impact of COVID-19 Pandemic, 39
in terms of Daily Income
in terms of Daily Operating Cost

in terms of Pay-back Period of Cost Recovery
9 Test on Difference Before and During the 43
COVID-19 Pandemic to the Market Vendors Daily
Operating Performance in terms of Daily Sales
10 Test on Difference Before and During the 44
COVID-19 Pandemic to the Market Vendors Daily
Operating Performance in terms of Daily Operating Cost
11 Test on Difference Before and During the COVID-19
46
Pandemic to the Market Vendors Daily Operating Performance
in terms of Pay-back Period of Cost Recovery

vi
LIST OF FIGURE
FIGURE NO. TITLE PAGE
1 Schematic Diagram 6
ii
ABSTRACT
In the twenty-first century the corona virus epidemic has changed our lives. The
way people live, work and co-exist will never be the same. The primary objective of this
study is intended to determine the impact of covid-19 among the vendors of Nasipit,
Agusan del Norte. The result showed that the daily sales and payback period of cost
recovery are greatly affected. This study is conducted to determine the impact of covid-
19 among the market vendors in Nasipit, Agusan del Norte. This study is anchored
Goldratt’s Theory and Abraham Maslow’s Hierarchy of Needs.
The study employed the descriptive survey method. A survey was conducted with
189 respondents who are currently registered market vendors in Nasipit, Agusan del
Norte. The study followed an ethical standard by giving a survey questionnaire to the
respondents with an attached informed consent form to protect their identity.
The impact of covid-19 among the market vendors in terms of daily sales and
pay-back period of cost recovery before and during the outbreak has a differences while
the daily operating cost has no significant difference. Therefore, it is concluded that only
the daily sales and pay-back period has a significant relationship of the level of operating
performances before and during COVID-19 among the market vendors. It is
recommended that the market vendors should take into consideration the result of the
study and create strong strategies in providing product and services.

iii
ACKNOWLEDGEMENT
The researchers, would like to express their deepest gratitude to these following
people who exerted their outmost efforts to support their research.
The researhers wish to express their sincere and deepest gratification to their
adviser Mr. Noel S. Bitancor, for his strong commitment, persistence, enthusiasm and
guidance all throughout their study. His guidance helped them in all the time of research
and writing of this thesis.
To the Research Instructor Dr. Dennis P. Mausisa, for giving a further advice in
making their study successful. It is a genuine pleasure to express their deep sense of
thanks and appreciation. His timely advice and expertise have helped them to a very great
extent to achieving their study.
To the panelists, Dr. Ian S. Tampan, Mrs. Beverly D. Jaminal, and Mrs. Renita
Lourdes D. Lagapa, deserved special thanks for their prompt inspirations, timely
feedback, kindness and enthusiasm. The researchers are grateful to the panelists who
manifested their expertise, skills and talents in their own fields as seen in their way of
correction and ideas shared.
To the statistician Ms. Perlyn Paredes, the researchers are deeply thankful for her
patience, support, advices, valuable comments, and suggestions throughout their study.
Her knowledge and help in the analysis of their data and statistical computation helped
them in completing their task directly.
The researchers also express their sincere thanks to the respondents, the market
vendors in Nasipit, Agusan del Norte for sharing their time and effort to fulfill the study.
A huge thanks to their families, who supported them during the processing of
completing the study. Their extreme patience, consideration, financial support and
understanding have pushed them all the way through in finishing their manuscript.
To the Almighty God, for guiding and being there for them when things get
tough, and for giving them strength to succeed. Without His grace and blessings, the
study would not have been possible.
The researchers also place on record, their sense of gratitude to one and all, who
directly or indirectly, have lent their helping hand in their journey.
Ninolino J. Cadiz
Glorianne Gail A. Felias
Johanna Mae K. Pabatang
Researchers
CHAPTER I
INTRODUCTION
Background of the Study
COVID-19 is very rampant and the greatest threat that our world face today. It
causes a massive destruction in our society. Affecting the lives of many people causing of
their business to shut down because of the pandemic outbreak.
Although the ongoing study examines the economic implications of COVID-19,
most of these studies concentrate on coronavirus's macroeconomic and financial effects.
The effect on national economies, including consumption and poverty rates (top-down
approach), is then translated into the socio-economic impact on individuals. Although
this method is not intended to substitute macro-level assessments that can better capture
the relationship between sectors and countries or the effects of aggregated
macroeconomics, it can complement much better distribution impact estimates. It can
also better account for the coping ability of households, the position of people's savings,
and the greater resilience of common with multiple jobs (Martin et al., 2020).
2
People seem to be utterly unprepared for large-scale outbreaks on a social level.
Our communities are more accessible than ever before; we rely on importing essential
goods such as food, energy, and medical equipment, rather than having them near their
required. There are minimal efforts to prepare for pandemic outbreaks. Our society's
guiding principle seems to be a productive and economic benefit instead of protection.
After the latest breakout, this could change. Also, it’s important to emphasize that the
ideals on which society is built (e.g., openness and free trade) have lifted many nations
around the world out of poverty and created well-developed economies. It is not unlikely
that any of them will be backed up by our societies, contributing to more global poverty.
The COVID-19 pandemic outbreak has caused many companies to close in most business
sectors, leading to unprecedented trade disruption. Many short-term problems are faced
by retailers and brands, such as health and safety, the supply chain, the workforce, cash
flow, customer demand, revenue, and marketing. Nevertheless, successfully navigating
these hurdles will not guarantee a promising future or any future at all. It’s because, once
we get through this pandemic, it will appear in a very distinct world compared to the one
before the epidemic. Many markets no longer exist, especially in the fields of tourism and
hospitality. In the current setting, all organizational roles are intended for prioritizing and
maximizing expenditures or delay activities that will not offer benefits. An indefinite
hiring freeze has been instituted by businesses, especially startups. At the same time,
exponential growth is seen in online networking, online entertainment, and online
shopping (Donthu and Gustafsson, 2020).
The study aims to figure out how COVID-19 plays a role in the vendors in terms
of their operating performance. This focuses on the impact of the COVID-19 before and
during outbreak on their daily activities, specifically, the daily sales, daily operating cost,
and pay-back period of cost recovery to the vendors.
The purpose of the study is to analyze and evaluate the vendors experience during
the pandemic. It is beneficial to the Market vendors because it gives more ideas on
dealing with this challenge. It is also helpful to the other people and the community,
specifically, consumer because it would help them realize that they have roles among
vendors in reducing the impact of COVID-19. Additionally, the Local Government

Officials can gain information about the status of the vendors during the outbreak of
COVID-19.
3
This research is, about the impact of COVID-19 among the vendors in Nasipit,
Agusan del Norte, taking into consideration the challenges encountered by the vendors. It
shows how COVID-19 plays a vital role in rendering services.
Theoretical Framework
This study will anchor on the Goldratt’s theory of constraints an operating
measure. The theory measures operational performance in key areas and uses the results
to streamline operations. While another constraint always replaces the one you identify
and remove, repeated applications of the theory can result in continuous improvement,
increasing efficiency and allowing your company to achieve higher profits. The theory of
constraints assumes that your business performance can't improve because of some
specific problems or inefficiencies that are holding you back. You can find the constraints
by looking for undesirable effects. Typical undesirable effects in a production line
include extended waiting times, a buildup of parts or materials, production errors and
variable production volumes. Look for the causes of the undesirable effects. While you
may find several causes, the main constraint causes the most undesirable effects and
should be dealt with first. When you make changes to remove the main constraint, your
performance improves but another main constraint limits further improvement. A
framework to help operations managers manage bottlenecks and improve efficiency. The
theory argues that the throughput of any system is determined by one constraint, or
slowdown, in the process. To increase overall process flow, the organization must focus
on identifying these constraints and improving them. The theory defines a set of tools
organizations may use to increase profits by managing constraints (Markgraf,2020).

4
Work measurement is a term which covers several different ways of finding out
how a long job or part of a job should take to complete. It can be defined as the
systematic determination, through the use of various techniques, of the amount of
effective physical and mental work in terms of work units in a specified task. The work
units usually given in standard minutes or standard hours. In the business world, these
standard times are needed for planning the work of a workforce. Manning jobs to decide
how many workers it would need to complete certain jobs, scheduling the tasks allocated
to people, costing the work for estimating contract prices and costing the labor content in
general, calculating the efficiency or productivity of workers, and providing fair returns
on possible incentive bonus payment schemes (Joma, 2008).
The theory uses to further strengthen the study is Abraham Maslow’s Hierarchy
of Needs.
The hierarchy of needs of Maslow is a theory of motivation in psychology,
containing a five-tier of model of human needs, which is frequently represented inside a
pyramid. Maslow (1943, 1954) stresses that individuals are motivated and inspired to
accomplish those needs and that certain interests take priority over others. Physical
survival is the most important need; therefore, this will be the first thing that motivates
our actions. Once that or that level is reached, what motivate us in the next level up, and
so on.
Maslow states that the order of needs might be flexible based on external
circumstances or individual differences.
Thus, it is connected to the idea of De Leon & Miguel (2015) that despite the
pandemic, the market vendors are still working hard for their families and are willing to
take a risk to uplift the family’s socio-economic status since it is one of their sources of
income.
5
Their sense of responsibility come within and plays its part by ensuring that they get
something out of their hard work. As Licuanan (2014) states in the article, a Moral
Recovery Program: Building a People, Building a Nation, “Filipinos have the capacity for
hard work, given proper conditions. This is about fulfilling the urge to life one’s standard
of living and to have and offer to one’s family the necessities of a decent life, coupled
with the right opportunities and rewards, encourages the Filipino to work very hard.
Furthermore, this is about having a willingness to take risks with jobs the abroad and
work there at two or three jobs. The outcome is productivity and entrepreneurship for
some, and survival despite poverty for others.’’ Symbolically, their usage of these
signage can be seen as a representation of an uplifted socio-economic status of the
family. The market vendors are seen as a status symbol for the family as their source of
income. To use signage’s then is to show the community that they are at least successful
in their attempt to give their families a better life.

Schematic Diagram
Independent Variable Dependent Variable
1. Demographic profile of
vendors, in terms of:

1. Impact of COVID-19
1.1 Vendors classifications
pandemic, in terms of:
2. Operating performances, in
1.1 Daily sales
terms of:
1.2 Daily operating costs
2.1 Daily sales
1.3 Pay-back period or cost
2.2 Daily operating costs
recovery
2.3 Payback of cost recovery
Figure 1:
The Schematic Diagram shows the interplay between the independent and
dependent variables of the study.
7
Statement of the Problem
The study aimed to determine the impact of COVID-19 Pandemic to the operating
performances of the market vendors of Nasipit, Agusan del Norte. Measuring operating
performances if there is a significant differences before and during the outbreak of
COVID-19 Pandemic.
Specifically, the study sought to answers the following:
1. What is the demographic profile of Nasipit public market vendors, in terms of:
1.1 Classification of market vendors?
2. To what extent is the level of operating performances of the market vendors
before and during the COVID-19 Pandemic, in terms of:
2.1 Daily sales;
2.2 Daily operating costs; and
2.3 Pay-back period of cost recovery?

3. To what extent is the level of impact of COVID-19 to the market vendors in terms
of:
3.1 Daily Sales;
3.2 Daily Operating Cost; and
4. Is there a significant difference as to level of operating performances of the
market vendors before and during the COVID-19 Pandemic, in terms of:
4.1 Daily sales;
4.2 Daily operating cost; and

8
Hypothesis
There was no significant difference as to level of operating performances before
and during the COVID-19 Pandemic in terms of daily sales, daily operating cost, and
pay-back period of cost recovery.
Scope and Limitations
The study focused only on the perspectives of the Market Vendors of Nasipit,
Agusan del Norte on how their operating performances as to their daily sales, daily
operating costs and pay-back period of costs recovery that have been affected by the
occurrence of the COVID-19 Pandemic.
The research questionnaire was limited and anchored only to the inquiry as stated
on the scope of the statement of the problems. Thus, beyond its parameter are not
included. Though, a focus individual discussions were conducted by the researchers,
purposed to augment and substantiated their answers on the survey questionnaire.
Definition of terms
The following terms and words are operationally and conceptually defined as
follows:
COVID-19 Pandemic. It refers to a disease caused by a new strain of coronavirus that is
ongoing and occurring globally, impacting the global health crisis in which people have
faced the greatest challenge.
Daily sales. Refers to the average number of products that are sold each day of the
market vendors of Nasipit, Agusan del Norte.

9
Daily operating costs. Refers to the costs of operations such as the rentals, cost of
purchases, and other operational costs incurred by the market vendors of Nasipit, Agusan
del Norte.
Impact of COVID-19 Pandemic. Refers to the effects of COVID-19 Pandemic to the
operating performances of the market vendors of Nasipit, Agusan del Norte as to their
daily sales, daily operating costs, pay-back period of costs recovery.
Market vendors. Refers to the small business owners operating within the public market
of Nasipit, Agusan del Norte.
Operating performances. Refers to the market vendor’s daily sales, daily operating
costs and the numbers of hours and/or day to recover cost of operations of Nasipit,
Agusan del Norte.

Pay-back period of costs recovery. Refers to the number of hours, day and/or period to
recover the costs of operations of the market vendors of Nasipit, Agusan del Norte.
Vendors’ classifications. Refers to the different sections of market vendors within the
premises of public market of Nasipit, Agusan del Norte. Such as: fish section vendors,
meat section vendors, fruit section vendors, vegetable section vendors, dry goods section
vendors, and eatery section vendors.
CHAPTER II
REVIEW OF RELATED LITERATURE
COVID-19 (Coronavirus) has damaged the daily lives of each individual and is
slowing down the global economy. This pandemic has damaged thousands of people,
who are either sick or killed due to the transmission of this disease. The most common
symptoms of this viral infection are fever, cold, cough, bone pain, and breathing
problems, leading to pneumonia. Vaccines are not yet available since this is a new virus
affecting humans for the first time. Hence, the emphasis is on taking extensive
precautions such as deep hygiene protocol (e.g., regularly washing of hands, avoidance of
face-to-face interaction, etc.), social distancing, and wearing of masks, and so on
(Haleem and Javaid, 2020).
There has been an extensive history of fear of pandemic outbreaks. The research
has not concentrated on when an epidemic will occur but when a new pandemic will
occur (Stöhr & Esveld, 2004).
While COVID-19 started, it has spread rapidly throughout the world in the city of
Wuhan in the Hubei province of China, resulting in a human tragedy and severe
economic damage. By mid-June, there were over 8 million people with positive cases of
COVID-19 globally, with over 436,000 deaths (Qiu et al., 2020).
Countries are restricting gatherings of people to the spread and break the
increasing curve. Many countries are on lockdown and enforcing a strict quarantine to
control the spread of the havoc of this highly transmittable disease. Increasingly, COVID-
19 has influenced our everyday lives, industries, obstructing international trade and
movements.
11
Distinguishing the disease at an early stage is significant to control the spread of the virus
because it very rapidly increases from person to person. Most of the countries have
reduced their manufacturing of the products. This disease is caused by various industries
and sectors, including the pharmaceutical, solar, tourism, information, and electronics
industries. A great impact was produced by the spread of the virus on the daily life of
citizens, as well as on the global economy (Haleem and Javaid, 2020).

According to Funk, Gilad, Watkins, & Jansen (2009), an individual appear to
become less interested in spending and more interested in saving our money for a time
after a pandemic, resulting in decreased economic growth. It is not all clear that we
would be as conservative as we have been in the past, given the current situation in which
saving capital means negative returns. It seems that behavioral changes related to
pandemic outbreaks are linked to personal protection, such as face masks, rather than
general behavior changes. As human beings in modern society, our lives tend to focus
more on convenience than on what might happen in the future.
Any crisis, whether caused by human behavior, natural disasters, or economic
processes, bring challenges and threats to entrepreneurs and their organizations (Doern et
al., 2019).
According to Bartik (2020), the effect of COVID-19 toward the start of the crisis
on business operations and jobs. Second, as captured by their cash on hand and
continuing investment, we report our findings on the financial fragility of those firms.
Third, we turn to their perceptions of the crisis’s length and their economic sustainability.
12
According to Mahar (2020), the transmission of Coronavirus is unpredictable and
uncertain. Many analysts have already predicted that a recession will occur, but there is
no certainty, and no one knows that it is still impossible to forecast how this pandemic
will fall and how long the effect will be. Besides, Bernard M. Wolf, professor, Schulich
School of Business Economics, said that “its’s devastating and we’ve never seen
anything like this before, and we’ve got a large portion of the economy and people under
lockdown that will have an enormous effect on what can be created and not produced.
According to Donthu and Gustafsson (2020), people seem to be utterly
unprepared for large-scale outbreaks on a social level. Our communities are more
accessible than ever; we rely on importing essential goods, such as food, energy, and
medical equipment, instead of having them where they are needed; and the effort to
prepare for pandemic outbreaks is minimal. Our society’s guiding principle seems to be a
productive and economic benefit instead of protection. After the latest breakout, this
could alter. It’s also essential to point out that the concepts (e.g., openness and free trade)
have raised many countries worldwide out of poverty, and well-developed economies
have been produced in which society is centered. It is not unlikely that any of them will
be backed up by our community, resulting in more suffering in the world.
African-American firms have been hit with a 41 percent fall particularly hard.
Latinx business owners fell by 32%, while Asian business owners dropped by 26%.
Simulations show that the structure of the industry partially put these classes at a higher
risk of losses. Immigrant business owners have suffered major losses of 36%. Twenty-
five percent were also disproportionately affected by female-owned businesses.

13
Such early-stage loss results for small businesses have primary policy implications and
could have longer-term consequences for employment losses and economic inequality
(Fairlie, 2020).
According to the Pew Research Center, the highest risks of layoffs are in the
lodging, retail trade, transport and art services, entertainment, and leisure services sectors
(Kochhar and Barroso, 2020).

The spread of the worldwide Covid-19 pandemic has devastated the world’s
political, social, economic, religious, and financial structures of the world. Also, financial
markets have been pounded across the globe, and oil prices have dropped off a cliff. 3.3
million Americans applied for unemployment in just a week, and another 6.6 million
people began looking for jobs a week later. Many economic and financial analysts have
also warned about the deteriorating state of global economic conditions (Mahar, 2020).
Due to illness and government-mandated social distancing orders, covid-19 has
contributed to major and acute losses in many economies worldwide. It is hard to forecast
the effect and extent of the economic crisis on individual households as a consequence of
the pandemic, as many uncertainties surround the duration of the catastrophe, i.e., the
length of “stay-at-home” orders, as well as the industries affected and the consumption
and recovery after the calamity. A plethora of ongoing research studies is underway in
developing and developed countries to estimate the economic effect of COVID-19.
National economies are expected to contract because of widespread business closures,
especially in lower-income communities, leading to a drastic rise in unemployment and
poverty rates. A World Bank report estimated that 11 million people across East Asia and
the Pacific could fall into poverty (World Bank, 2020).

14
Small and medium-sized enterprises (SMBs) are under the increasing strain
caused by the enormous work-from-home surge caused by the COVID-19 pandemic; a
new report says. This year's familiar subjects are documented, such as budget constraints
hampering protection, but COVID-19 adds a new element as most organizations have
relocated at least part of their workers to remote work, some of which intend to continue
post-pandemic work. The latter result reaffirms what some have called the “new normal”
of remote permanent work. Scott Devens, CEO at Untangle, said: As the abnormal
becomes our new normal, SMBs need to address remote work by using a mix of cloud-
based software and on-site solutions to keep workers and systems secure and maintain
business continuity (Ramel, 2020).
The firm foundations of the Philippines, produced by decades of structural
reforms, have enabled the economy to cope with the COVID-19 pandemic. In East Asia
and the Pacific region, the Philippines has abundant external reserves and the lowest
public external debt. The country also has the region’s highest reserve ratio; this provides
plenty of room for monetary policy to inject liquidity into the economy and help fuel
inflation (Llorito, 2020).
Because of market interruptions and shutdowns from social-distancing initiatives,
the COVID-19 pandemic has triggered a massive economic shock worldwide. A micro-
economic model was developed to estimate the direct effect of distancing on household
income, savings, consumption, and poverty to determine the socio-economic impact of
COVID-19 on individuals. The model assumes two periods: a time of crisis during which
some people experience a drop in income and may use their precautionary savings to
maintain consumption. This will be used and a stabilization period when households save
to replenish their depleted savings to the pre-crisis stage (Martin, Markvhida, et al.,
2020).
15
As Covid-19 has already been a cause for the closing of several organizations and
the closure of supermarkets that today seem empty. Therefore, many economists are
afraid and have predicted that inflation will result from the pandemic. Bloomberg
Economics, for instance, warns that in a worst-case pandemic scenario, “full-year GDP
growth could fall to zero (Mahar, 2020).
Businesses, schools, community centers, and non-governmental organizations
(NGOs) have been forced to shut down as part of social distancing, mass meetings have
been banned, and lockdown measures have been implemented in many nations, allowing
only urgent needs to travel. The aim is that the country will be able to “flatten the curve”
by social distancing, i.e., to reduce the number of new cases linked to COVID-19 from
one day to the next to avoid exponential growth and thereby reduce pressure on medical
services (John Hopkins University, 2020).
Different industries and economies seem to be more vulnerable due to this
pandemic, such as the virus affected both demand and supply; as a result of depressed
activity, Foreign Direct Investment may fall by 5 to 15 percent. Also, the sectors most
impacted have become vulnerable, such as tourism and travel industries, hotels,
restaurants, sporting events, consumer goods, financial markets, transport, and health
systems overload (Mahar, 2020).
As more essential products are shipped to your home and hospitals, the last few
weeks and continuing isolation for many have brought visibility to supply chains. A
transition to distributed production models may be made possible by globalization and
this pandemic. We need to reconsider worldwide supply chains. It could mean less
offshoring to places, with the only benefit being low-cost labor (Sroufe, 2020).
16
Although the ongoing study examines the economic implications of COVID-19,
most of these studies concentrate on the coronavirus macroeconomic and financial
effects. The effect on national economies, including consumption and poverty rates (top-
down approach), is then translated into the socio-economic impact on individuals. This
analysis is intended to examine at the household level the socio-economic implications of
the COVID-19 pandemic (bottom-up approach). Although this method wasn’t planned to
substitute macro-level assessments that can better capture the relationship between
sectors and countries or the effects of aggregated macroeconomics, it can complement
much better distribution impact estimates. It can also better account for the coping ability
of households, the position of people's savings, and the greater resilience of households
with multiple jobs (Martin et al., 2020).
Despite the employment of ordinary people, there is also a real risk of losing their
jobs because the shutdown of business demonstrates that firms will be unable to pay staff,
so they have to lay them off. Although COVID-19 was severely weakened when it comes
to the stock market, the U.S. stock market is down about thirty percent (Mahar, 2020).
It’s expected that social distance constraints and market changes from COVID-19
would shut down many small businesses, but very little early impact evidence is
available. The first study of the pandemic's effects on the number of successful small
businesses arising from the pandemic is given in this paper. The fall in business owners
was the highest on record, and losses were felt across almost all sectors and incorporated
companies (Fairlie, 2020).

17
The COVID-19 pandemic outbreak has caused many companies to close in most
business sectors, leading to unprecedented trade disruption. Many short-term problems
are faced by retailers and brands, such as health and safety, the supply chain, the
workforce, cash flow, customer demand, revenue, and marketing. Moreover, successfully
navigating these hurdles will not guarantee a promising future or any future at all. It is
because we'll appear in a different world once we get through this pandemic compared to
the one before the outbreak. Many markets no longer exist, especially in the fields of
tourism and hospitality. In the current environment, all organizational roles are intended
to prioritize and maximize expenditures or delay activities that will not offer benefits. An
indefinite hiring freeze has been instituted by businesses, especially startups. At the same
time, exponential growth is seen in online networking, online entertainment, and online
shopping (Donthu and Gustafsson, 2020).
The need for managing risk is underscored by recent events that include financial
crisis, product recalls, accidents, natural and man-made disaster, and economic ups and
downs (Del Val, 2005).
As the coronavirus pandemic causes unprecedented uncertainty, it is vital for
businesses to determine how to preserve and raise income, not just to contain or reduce
costs. Indeed, as the global economy rebounds, the potential to expand will isolate the
leaders from the pack, as it eventually will. When sales leaders have stabilized the
immediate situation, despite social distancing across the globe, they must turn to what it
would take to maintain momentum and invest in the recovery to rebound. Companies in
every sector have the chance to emerge as winners from the crisis (Andersen, Lehrke,
Newtown, et al., 2020).
The COVID-19 pandemic has severely affected the small business market.
Companies have changed their activities not only given these limitations but also when
customers cut their expenses and shifted some of it online. Some businesses temporarily
closed.
18
Although cash balances rebounded, helped with pandemic-related relief efforts, revenue
remained substantially lower in May than it was a year earlier. This study offers a closer
look at the small businesses affected by COVID-19 and the subsequent economic
downturn by Black and Hispanic-owned businesses as well as the hardest-hit sectors such
as personal services, repair and maintenance, and construction). Before COVID-19, prior
research listed the restaurant, retail, and personal services industries as the most seriously
affected. The financial effect on Black and Hispanic-owned businesses across the
industry and especially in these sectors may have been particularly significant. These
corporations are more economically vulnerable than white-owned companies with lower
profits and less cash liquidity. They may therefore, have been more susceptible to adverse
shocks, particularly if they also worked in industries that were severely affected (Farrel et
al., 2020).
Marketing means managing markets to bring about profitable customer
relationships. However, creating this relationship takes work. Sellers must search for and
engage buyers, identify their needs, design good market offerings, set prices for them,
promote them, and store and deliver them (Kotler and Armstrong, 2016).
Businesses may fail for one reason or another. The reasons, however, could be
external or internal such as disasters or ‘acts of God’ (Medina, 2007).
The economic implications will be wide-ranging and uncertain, with numerous
impacts on labor markets, supply chains of manufacturing, capital markets, and the global
economy. The adverse economic consequences of social distancing measures (e.g.,
lockdowns and related policies), their period of enforcement, and the degree of
compliance can vary.

19
Also, the pandemic and government intervention can lead to mental health distress,
increased economic inequality, and adversely affect certain socio-demographic groups
(Brodeur, Gray, et al., 2020).
First, proceed with the necessary containment steps and the health system's
assistance. Second, protecting impacted individuals and businesses with broad focused
fiscal and financial sector interventions promptly. Third, reduce the financial system's
tension and stop con tangents. Fourthly, recovery must be prepared, and the future
terrifying consequences of the crisis must be reduced by policy action. About the extreme
and deteriorating circumstances around the world, nations need cooperation and
collaboration among themselves, including people's support and mature and responsible
actions to combat Coronavirus effectively. Otherwise, wrong behavior and policies taken
by any state would also have a genuine effect on other countries because of the
globalized and linked world. This is not the moment of strategic point-scoring and
fighting with each other. Still, it is high time for states to collaborate, organize, and assist
each other first to combat this lethal pandemic to save the global economic and financial
system (Mahar, 2020).
Not an exception was Entrepreneurs. They had to begin to transfer their business
operations online. Not all, however, can be simply resolved online. The entrepreneurial
dedication of self-employed people has been much affected by COVID-19. As a result of
government regulations, some entrepreneurs were forced to temporarily close their
businesses; others had to take precautions and operate their operations to a reduced
degree. In all facets of their entrepreneurial endeavors, they have had to find creative
solutions as the effects of the pandemic continue.

20
It took time for entrepreneurs to reflect on the new situation, and governments began to
assist them with concrete policy measures aimed at providing information, advice, and
financial support (Kuckertz et al., 2020).
All our society can do is take preventive steps so that if we suspect an outbreak,
we can respond rapidly. All of us should aspire to learn from the effects of pandemic
outbreaks to brace our communities for if it occurs again and, more likely, when. As we
are in the middle of a pandemic outbreak, it is difficult to estimate its long-term effects.
While many pandemics have influenced society in the past, the long-term economic,
behavioral, or social results are difficult to predict as these factors have not been
examined mostly in the past. The few studies that remain indicate that the historical
pandemics of the last century were typically connected to subsequent low returns on
assets (Jorda, Singh, & Taylor, 2020).

Also, because the world has undergone the most challenging economic situation
since World War II, Covid-19 is damaging the global economy. It is also immeasurable
when together with collaboration and coordination to protect human beings and minimize
economic harm (Mahar, 2020).
COVID- 19 PANDEMIC
21
The coronavirus (so-called COVID-19) began to spread from Wuhan, China, to
other countries, so broadly and rapidly at the end of December 2019 that the World
Health Organization-WHO (2020) announced the COVID-19 pandemic on 11 March
2020. In response to the spread and life-saving prevention of coronavirus, governments in
affected countries implemented a desperate measure of social distancing, widespread
lockdown, travel bans, movement, any gathering of people. It was necessary to move
many elements of private and public life online (Liguori and Winkler, 2020).
The effects of COVID-19 will be felt disproportionately across an economy.
Some sectors may benefit financially, while others will suffer huge losses. Those
countries with more service-oriented economies will be more negatively affected, and
suffer larger negative employment effects. Hospitality-related sectors have been hit hard
– tourist destinations are deserted, airlines have grounded fleets, holidays have been
cancelled and hotels have closed. The world stock market has also suffered since the
outbreak of COVID-19. The oil gas and coal businesses have seen huge losses (50 per
cent below the start-of year prices, on average), driven by a fall in the price of oil and a
reduction in consumption (Fernandes, 2020).

A growing awareness of the potential impact of fortuitous event is affecting how
companies operate and the products they offer (Go and Go, 2017).
The world has become both more and less globalized simultaneously, which is
somewhat of a paradox. Physically, it is less globalized as borders close and foreign trade
slows. Scenes of travelers trying to get ‘home’ led us to say where ‘home’ is, questions
that we are planet earth people. The Covid-19 crisis, however, leads emotionally to a
more globalized environment, showing that human relationships are borderless through
using technology to keep in contact, as we see scenes of individual help for others and
appreciate the selflessness of doctors, nurses, and cleaners regardless of nationality, and
as we see nations that are resolving the crisis themselves sending professions and
providing them. On the other hand, in a fight against an that does not discriminate or
recognize race constraints, we will emerge with a deeper understanding of what it means
to be a global citizen (Ivory, 2020).

22
The uncontrolled spread of the COVID-19 pandemic has surpassed all the
expectations. It was only on March 11th that the world health organization declared the
diseases as a pandemic ―A pandemic is the worldwide spread of a new disease‖ (WHO,
2010, p. 1). On that day there were 126,214 cases worldwide, today on the 1st of June
2020, the worldwide cases have reached 6,315,824 with over than 374 thousand people
died as a result of the disease. The majority of people are getting infected in a short
period of time which is overwhelming countries, as a result they might not be able to
provide the needed health care for the masses or keeping the economic wheel functioning
and maintaining it and the society (Nicomedes & Avila, 2020).

The COVID-19 pandemic and all these types of restrictions are affecting the
worldwide economy, the environment, and most importantly for this research each
person‘s life and how they are behaving. This could cause the disruption of the world
economy, decline of stock markets, scarcity of supplies, worsening political instability,
and governments losing hundreds of billions of revenues (Nicomedes & Avila, 2020).
Operating Performance
As COVID-19 continues to spread and change consumer behavior, it stands to
reason that businesses in sectors like restaurants and retail may see the greatest loss in
commercial activity and subsequently require the most support. Importantly, small
businesses in majority-minority communities and communities with lower amounts of
human and financial capital have materially lower levels of cash liquidity and small
businesses operating on smaller profit margins.
23
Policymakers responding to the impact of COVID-19 on small businesses might target
responses to communities in which small businesses typically have the least cash
liquidity (Wheat, Farrell & Greig, 2020)
In addition, uncoordinated control measures to avoid infection may result in a
severe demand shock especially for service sectors like tourism, retail sales, hospitality
and mass transportation. Also, the potential effect of workplace absenteeism, disruption
in business activities and production processes and a change from business as usual to
costlier procedures may lead to supply shocks which may impact supply chains at the
national and global level (Hart, 2020).

For instance, the lockdown has limited different firms, such as traveling, to
contain the virus, so this organization is coming to an abrupt global halt. The G-20
nations called an emergency meeting to address deteriorating circumstances and prepare
a plan to tackle Covid-19 as losses could be minimized, keeping in mind the staggering
situation. The spread of the disease is accelerating and causing more financial harm
(Mahar, 2020).
For many well-known brands in many industries, the COVID-19 pandemic is
likely to trigger bankruptcy as customers remain at home and economies are shut down
(Tucker, 2020).
A considerable slowdown in economic activity is expected to result from the
spread of COVID-19. According to the International Monetary Fund's early forecast
(2020a), the global economy is expected to contract by about 3% in 2020. For the latest
forecast, the report cites the following reasons: i) highly persistence of social distancing
activities; ii) decreased lockdown activity; iii) a sharper decrease in productivity among
firms that have opened up for business; and iv) higher uncertainty (Brodeur, Gray, et al.,
2020).
24
Most investors are pulling their capital from many companies since the outbreak
of Covid-19. So, the effect of COVID-19 on the world’s economic system is alarming
because people do not spend money, so firms do not get sales, so most firms shut down
shops. It also observed that it is only possible to recover economically from this fatal
disease by 2021 because it has had a significant effect on the global economy. Countries
are facing many difficulties in getting it back to a stable state. Most countries are going
through a recession and a deterioration of their economic system, pointing out the
staggering circumstances under almost 80 countries have already sought financial
assistance from the International Monetary Fund (IMF) in this aspect (Mahar, 2020).
Market Vendors
Markets are a prominent trading space found in most cities and towns. Their
commonplace role as a venue for traders and buyers to exchange goods with currencies
can be traced back to the history of public markets as a place of commerce. A traditional
market that possesses a strong historical background gives huge contributions to the
economy of a country (Shakur et al., 2012).
The term market has been defined in many ways, all depending on whose point of
view is referred to. Improvements in the definition of the ‘market’ happened as the
economics, management, and marketing disciplines developed (Medina, 2008).
25
Sales
Sales in wholesale and retail trade were most affected, both by decreased value
(those closed) and increased value (those servicing special demand). The COVID-19
outbreak and lockdown measures led to a sharp decline in April sales compared with
March. Only 1.2% reported an increase in April sales as they supplied households with
essential needs after the lockdown began (Asian Development Bank, 2020).
According to Nielsen (2020), there was a record-breaking sale of safety-health
products such as sanitizers and masks, also a ripple effect was created that triggered
wider customer purchasing behavior as the number of COVID-19 cases are increasing.
Toilet paper sales increased by 123% for the one-week duration that ended March 21
2020, compared to the same week last year. Lockdowns lead to lower retail sales and
drastically reduced leisure activities (visits to sporting events, restaurants, theatres etc.).
Government intervention to halt the spread of a virus affects supply chains, which in turn
impacts upon international trade.
Firms experiencing falling sales and production experience falling profits due to
fixed short-term costs and falls in revenue. Effects are sectorally specific: hospitality and
personal services are most adversely affected, whereas the pharmaceutical and medical-
equipment sectors are likely to benefit most (Turner & Akinremi, 2020).
Sales are activities that are related to the selling of goods or services. The process
of selling is subject to identifiable rules and stages (Dunlap, 2019).
26
Operating Costs
The spread of COVID-19 has already had a high human cost, and, with public
health systems struggling to cope, these costs will continue to grow. The policies put in
place by governments to slow the transmission of COVID-19 have led, in many
countries, to a massive demand and supply shock. This has led to significant trade
disruptions, drops in commodity prices, and the tightening of financial conditions in
many countries. These effects have already led to large increases in unemployment and
underemployment rates and will continue to threaten the survival of many firms
worldwide (Loayza and Pennings, 2020).
Cost of an organization’s output is a key variable that affects pricing decisions
and profits. Cost-reduction efforts are generally ongoing in business organization
(Stevenson, 2018).
Marketers take responsibility more for increasing sales revenue and tend to pass
much of the responsibility for decreasing cost to the operational side of the business
(Lacobucci, 2019).
Pay-back Period
It took time before the entrepreneurs got oriented in the new situation, and
governments started helping them out with particular policy-actions aiming to deliver
information, advisory and financial support (Kuckertz et al., 2020; Turner and Akinremi,
2020).
27
The crisis duration plays a central role in the total potential impact. For a crisis
lasting 4 months instead of 1 month, only 47% of businesses expected to be open in
December compared to 72% under the shorter duration. There is also considerable
heterogeneity in how sensitive businesses are to the crisis. In-person industries like
personal services or retail reported worse prospects for riding out the pandemic than
professional services or other sectors with minimal need for face-to-face contact (Bartik
et., al, 2020).
According to Cabrera (2015), explains the payback period as the length of time
required for a project’s business activities undertakings cumulative net cash inflows to
equal its net investment. It measures and determines the time required for a project to
break even. Furthermore, on “decision ruling,” the desirability of the project is
determined by comparing the project’s payback period against the maximum acceptable
payback period as determined by management. The project with a shorter period for the
maximum will be accepted.
The firm’s payback period refers to the length of time the firm can recover its
initial investments in a project. The shorter the payback period, the better it is for the
firm. Payback period can be found by dividing initial investments by the annual cash
inflows in the case of an annuity; for a mixed stream, the yearly cash inflows must be
accumulated until the initial investment is recovered (Laman et al., 2008).
The payback period is a measure of the time it will take to recover the original
investment from the resultant improvement in cash flows from earnings or savings. This
in itself is desirable, but the criterion is universally criticized by experts because it does
not discriminate as to the timing of the flows and because it ignores the magnitude of the
benefits lying beyond the payback period. These re serious criticisms. The payback
criterion is not in fact a true measure profitability (Loma, 2010).
CHAPTER III
RESEARCH METHODOLOGY
This chapter presented the research design, environment, population and sample,
the research locale, sampling procedure, research instrument, ethical consideration, data
gathering procedures, and data analysis.
Research Design
This study used the descriptive survey method to reveal a target audience’s range
and behavior and the perceptions that derive it concerning specific issues. It uses in-depth
studies of small groups of people to guide and support the construction of the research.
Research Locale
The researchers were conducted their research at Nasipit Public Market located at
Nasipit Agusan del Norte.
The documented history of Nasipit can be traced back to the early 1880s when the
Spanish colonizers named it a pueblo. According to townsfolk, the name may have been
taken from an incident in which an immigrant asked a native the name of the place
immediately after being bitten by a crab. "The native replied na-si-pit, meaning "bitten by
a crab," misunderstanding the question. The town has since become known as Nasipit.
On August 1, 1929, Nasipit was split officially from the municipality of Butuan.
By Executive Order No. 181, issued by the Acting Governor-General of the Philippines,
Eugene Allen Gilmore, it became a municipality. A plan to change its name to Aurora
was proposed by the then Governor, Teofisto Guingona Sr., but Nasipit was retained due
to strong opposition from the townspeople.

29
Nasipit was politically subdivided into 19 barangays. These were Aclan,
Amontay, Ata-atahon, Camagong, Cubi-cubi, Culit, Jaguimitan, Kinabjangan, Barangay
1- Apagan (Pob), Barangay 2- Apagan (Pob), Barangay 3- Apagan (Pob), Barangay 4-
Apagan (Pob), Barangay 5- Apagan (Pob), Barangay 6- Apagan (Pob), Barangay 7-
Apagan (Pob), Punta, Santa Ana, Talisay, and Triangulo.
Nasipit is one of the most famous towns in Region XII, as it has a large seaport or
port base in Agusan Del Norte. PMO Nasipit was assigned as an International Base Port
by the Philippine Ports Authority (PPA).
Research Respondents
The table shows the number of respondents of the study, in which the researchers
consider the total population of 189 as the sample size. These are the existing vendor’s
classification of Nasipit Public Market given by Local Government Officials. Also,
considering that the number of respondents is small. Thus, universal sampling will be
used.
30
Table 1
Respondents of the Study
RESPONDENTS POPULATION PERCENTAGE
Fish section vendors 40 21.16
Meat section vendors 36 19.05
Fruit section vendors 15 7.94
Vegetable section vendors 21 11.11
Dry goods section vendors 65 34.39
Eatery section vendors 12 6.35
Total: 189 100
N= 189
Research Instrument
The researchers adopted and modified the questionnaire as a tool to generate data
from the respondents. The instrument adopted from the study of Peng Zou, Di Hou and
Meng Li (2020) entitled The Impact of COVID-19 pandemic on firms. Slight
modifications were made in order to address the study objectives as applicable to local
setting.
The questionnaire specifically contains queries regarding the impact of COVID-
19 to market vendors. A focus individual discussion guide questions were made to further
gather and in-depth knowledge regarding COVID-19 effects to the respondents.

31
Ethical Standard
The researchers conducted their research at Nasipit Public market located at
Nasipit, Agusan del Norte. The researchers opted to hide the respondents’ identities for
safety purposes.
The researchers interviewed to collect data that was needed to obtain to solve the
problems. The researchers asked permission first from the Mayor to interview with the
respondents. Also, the researchers asked permission from the respondents to conduct an
interview with them about the said topic.
Data Gathering Procedure
In gathering the data, the researchers secured a letter of permission from the
Mayor of Nasipit to asked permission to conduct a study. Also, the researchers asked
permission to the market supervisor to determine the population of the market vendors as
noted by the adviser.

Before conducting an interview, the researchers oriented the respondents to know
and understand the reason for conducting the study. The researchers undergone
orientation before asking several questions. An individual group discussion was carried
out.
The researchers retrieved the questionnaire after gathering the data, analyzed and
interpreted it carefully to get the correct analysis. The data collected were tabulated
according to the problems presented.
32
Statistical Treatment
The statistical tools and techniques used by the researchers in presenting,
analyzing, and interpreting data that were gathered are the following:
Frequency and Percentage – This tool was used to answer problem 1, 2 and 3, the
market vendors’ demographic profile in terms of the number of registered market and
classification of market vendors.
T-test – This tool was used to answer problem 4, from among the operating
performances, which have the greatest impact to market vendors.

CHAPTER IV
RESULTS AND DISCUSSION
This chapter is mainly concerned with the presentation, analysis, and
interpretation of the data gathered through the questionnaire distributed to the
respondents. The topics discussed were in the order of the specific problems or areas of
investigation in the study.
Problem 1: What is the demographic profile of Nasipit public market vendors, in
terms of Classification of market vendors?
Table 2
Distribution of the Respondents as to Classification of Market Vendors
N=189
Classification of market vendors Rank
F %
Fish vendor 40 21.16 2
Meat vendor 3
36 19.05
Vegetable vendor 4
21 11.11
Dry good vendor 1
65 34.39
Eatery vendor 6
12 6.35
Fruit Vendor 5
15 7.94
Total 189 100
34
The table shows that the classification of the market vendors or respondents who
are dry good vendor has a frequency of 65 with an equivalent of 34.39% in the overall
percentage ranked as 1. Whereas respondents who are fish vendor has a frequency of 40
with an equivalent of 21.16% ranked as 2; respondents who are meat vendor has a
frequency of 36 with an equivalent of 19.05% ranked as 3; respondents who are
vegetable vendor has a frequency of 21 with an equivalent of 11.11% ranked as 4;
respondents who are fruit vendor has a frequency of 15 with an equivalent of 7.94%
ranked as 5; and respondents who are eatery vendor has a frequency of 12 with an
equivalent of 6.35% ranked as 6.
To sum up the data gathered regarding the classification of market vendors, it is
evident that majority of the respondents are dry good vendor. Market vendors have been
identified as crucial workers whose activities provide lifeline support during the COVID-
19 lockdown across the region, through access to essential commodities like food, mobile
money, etc. The services provided by this informal sector eases access to food and money
that are very vital for human survival especially during the lockdown. The continued
activities of the market vendors during the lockdown places them at a greater risk because
they continue to interact with many people from the general public (Usman et, al, 2020).
The spread of novel coronavirus, SARS‐CoV‐2, and the COVID‐19 disease it causes has
had unprecedented impacts on all food markets, including the market for fruits and
vegetables. Throughout the value chain, grower‐shippers accustomed to just‐in‐time
inventory management systems and retailers able to stock every product with minimal
interruption faced shocks in both supply and demand. (Richards and Rickard, 2020).
35
Problem 2: What is the level of operating performances of the market vendors
before the COVID-19 Pandemic, in terms of:
As to Daily sales:
Table 3
Level of Operating Performances before the COVID-17 Pandemic, in terms of
Daily Sales
N=189
Daily Income Rank

F %
P999 and below 6 3.17 5
P1,000-P2,500 14 7.41 4
3
P2,501- P3,500 32 16.93
P3,501- P5,000 2
48 25.40
1
P5,001 and above 89 47.09
Total 189 100
The table 3 shows that the daily income of the respondents before the COVID-19
Pandemic ranges from 5,001 and above has a frequency of 89 with an equivalent of
47.09% in the overall percentage ranked as 1. Whereas respondents ranges from 3,501-
5,000 has a frequency of 48 with an equivalent of 25.40% ranked as 2; respondents
ranges from 2,501-3,500 has a frequency of 32 with an equivalent of 16.93% ranked as 3;
respondents ranges from 1,000-2,500 has a frequency of 14 with an equivalent of 7.41%
ranked as 4; and respondents ranges from 999 and below has a frequency of 6 with an
equivalent of 3.17% ranked as 5.

36
To sum up the data gathered regarding the daily income of the respondents, it is
evident that majority of the respondents’ sales ranges from 5,001 and above. Public
Market employees tend to have high daily sales that means high profit and have greater
longevity in their jobs than typical retail employees (Zaretsky, 2017). They ranged from a
well-established sector in the busy downtown, with better working conditions and
relatively high incomes, to less-accessible markets that provided a gateway opportunity
before the crisis (Short, 2020).
Daily Operating Costs; and
Table 4
Daily Operating Cost
N=189
Daily Operating Costs Rank
F %
P999 and below 90 47.62 1
P1,000- P1,500 62 32.80 2
P1,501-P 3, 000 17 8.99 3
P3,001- P5,000 4
14 7.41
5
P5,001 and above 6 3.18
Total 189 100
The table 4 shows that the daily operating cost of the respondents before the
COVID-19 Pandemic ranges from 999 and below has a frequency of 90 with an
equivalent of 47.62% in the overall percentage ranked as 1.

37
Whereas respondents ranges from 1,000-1,500 has a frequency of 62 with an
equivalent of 32.80% ranked as 2; respondents ranges from 1,501-3,000 has a frequency
of 17 with an equivalent of 8.99% ranked as 3; respondents ranges from 3,001-5,000 has
a frequency of 14 with an equivalent of 7.41% ranked as 4; and respondents ranges from
5,001 and above has a frequency of 6 with an equivalent of 3.18% ranked as 5.
To sum up the data gathered regarding the daily operating cost of the respondents,
it is evident that majority of the respondents’ sales ranges from 999 and below. Expense
reductions to their budgets was expected to find cost savings to temporarily adjust
expense levels until customer demand and revenues return to historical levels “cutting
your way to prosperity (Gaul, 2020).
Pay-back Period of Cost Recovery?
Table 5
Pay-back Period of Cost Recovery
N=189
Pay-back Period of Cost Rank

Recovery
F %
1 day and less than 51 26.99 2
2 to 3 days 107 56.61 1
4 to 5 days 18 9.52 3
6 days or more than 4
13 6.88
Total 189 100
38
The table shows that the pay-back period of cost-recovery of the respondents
before the COVID-19 Pandemic ranges from 2-3 days has a frequency of 107 with an
equivalent of 56.61% in the overall percentage ranked as 1. Whereas respondents ranges
from 1 day and less than has a frequency of 51 with an equivalent of 26.99% ranked as 2;
respondents ranges from 4-5 days has a frequency of 18 with an equivalent of 9.52%
ranked as 3; and respondents ranges from 6 days or more than has a frequency of 13 with
an equivalent of 6.88% ranked as 4
To sum up the data gathered regarding the pay-back period of cost recovery of the
respondents, it is evident that majority of the respondents ranges from 2-3 days. A
significantly smaller percentage of market vendors spend 12-14 hours a day in vending
their products. Due to prolonged duration of working and higher sales it has been proved
that they would easily recover the expenses and would not take more than a week (Saha,
2011).
The average number of hours of
work per day for the vendors
varies from eight to twelve
hours. Nearly 54 per cent of the
vendors, including 58 per cent of
the female and 51 per
cent of the male vendors work
for such prolonged durations.
The next most signi cant
proportion of vendors (nearly 23
per cent), including 18 per cent
of the female and 25 per
cent of the male vendors have
been are found to be putting in
12-15 hours of work per day.
A signicantly smaller
percentage of vendors (14 per
cent) spend 5-8 hours in vending
their
products. Thus, the vendors have
mostly been found to be working
for prolonged duration
their
for prolonged duration
their
for prolonged durations
their
their
39
Problem 3: What is the level of impact of COVID-19 to the market vendors in terms
of:
As to Daily sales:
Table 6
Level of Impact of COVID-19 Pandemic, in terms of Daily Sales
N=189
Daily Income Rank

F %
P999 and below 50 26.45 2
P1,000-P2,500 60 31.75 1
3
P2,501- P3,500 37 19.58
P3,501- P5,000 5
17 8.99
4
P5,001 and above 25 13.23
Total 189 100
The table shows that the daily income of the respondents during the COVID-19
Pandemic ranges from 1,000-2,500 has a frequency of 60 with an equivalent of 31.75%
in the overall percentage ranked as 1. Whereas respondents ranges from 999 and below
has a frequency of 50 with an equivalent of 26.45% ranked as 2; respondents ranges from
2,501-3,500 has a frequency of 37 with an equivalent of 19.58% ranked as 3; respondents
ranges from 5,001 and above has a frequency of 25 with an equivalent of 13.23% ranked
as 4; and respondents ranges from 3,5001- 5,000 has a frequency of 17 with an equivalent
of 8.99% ranked as 5.
To sum up the data gathered regarding the daily income of the respondents, it is
evident that majority of the respondents’ sales ranges from 1,000-2,500.

40
As large numbers of business owners like vendors lost 60% of their income
worldwide due to the pandemic especially in Southeast Asia. These individuals are better
off to start, it is possible that food security declined for them (Tilaki et al., 2021). The
unfolding crisis has affected food systems and threatened people’s access to food. These
crises have resulted lower sales and income because many families lost jobs and unable
to buy goods (Cole et al., 2020).
As to Daily Operating Costs; and
Table 7
Level of Impact of COVID-19 Pandemic, in terms of Daily Operating Cost
N=189
Daily Operating Costs Rank

F %
P999 and below 144 76.19 1
P1,000- P1,500 28 14.81 2
P1,501-P 3, 000 4 2.12 4
P3,001- P5,000 3
10 5.29
5
P5,001 and above 3 1.59
Total 189 100
41
The table shows that the daily operating cost of the respondents during the
COVID-19 Pandemic ranges from 999 and below has a frequency of 144 with an
from 1,000-1,500 has a frequency of 28 with an equivalent of 14.81% ranked as 2;
respondents ranges from 3,001-5,000 has a frequency of 10 with an equivalent of 5.29%
ranked as 3; respondents ranges from 1,501-3,000 has a frequency of 4 with an equivalent

of 2.12% ranked as 4; and respondents ranges from 5,001 and above has a frequency of 3
with an equivalent of 1.59% ranked as 5.
To sum up the data gathered regarding the daily operating cost of the respondents,
it is evident that majority of the respondent’s sales ranges from 999 and below.
Understanding how to measure operational costs is more important than ever before in
the age of COVID-19. With suppliers shuttered and people lost jobs, business need to
keep expenses as low as possible in addition to seeking a healthy bottom line. Reducing
the operating costs has a direct impact on not just your profitability, but your ability to
keep operating and survive long enough to compete once the crisis is over (Biedron,
2020). The impact of COVID-19 might forgo consumption and purchases of certain
goods and services and small operating cost, disruption of services, productivity and
others (Jonas, 2013).
As to Pay-back Period of Cost Recovery?
Table 8
Level of Impact of COVID-19 Pandemic, in terms of Pay-back Period of Cost
Recovery
N=189
Pay-back Period of Cost Rank

Recovery
F %
1 day and less than 5 2.64 4
2 to 3 days 34 17.99 3
4 to 5 days 79 41.80 1
6 days or more than 2
71 37.57
Total 189 100
42
The table shows that the pay-back period of cost-recovery of the respondents
during the COVID-19 Pandemic ranges from 4-5 days has a frequency of 79 with an
from 6 days or more than has a frequency of 71 with an equivalent of 37.57% ranked as
2; respondents ranges from 2-3 days has a frequency of 34 with an equivalent of 17.99%
ranked as 3; and respondents ranges from 1 day and less than has a frequency of 5 with
an equivalent of 2.64% ranked as 4.
To sum up the data gathered regarding the pay-back period of cost recovery of the
respondents, it is evident that majority of the respondents ranges from 4-5 days. The
impact of COVID-19 will depend heavily on how long the pandemic lasts. A shorter time
frame means that people will revert more quickly to pre-pandemic ways of operating
(Panetta, 2020).
Expect their businesses to bounce back completely a week or more, while others take
a month or a year. If these expectations are realistic, this means businesses will have
recovered (Nolsoe, 2021). Such income losses translate directly into decreases to
spending and wellbeing, particularly for those with less of a cash buffer and who
experience more sustained losses. We see that, in general, families cut their spending in
results, businesses may find difficult to recover their operating expenses due to low sales
(Wheat, 2020).
43
Problem 4: Is there a significant difference as to level of operating performances of
the market vendors before and during the COVID-19 Pandemic, in terms of:
Table 9
Test on Difference Before and During the COVID-19 Pandemic to the

Market Vendors Daily Operating Performance in terms of Daily Sales
Paired Samples Test

Paired Differences
95%
Confidence
Interval of
Std. the
Error Difference Sig.
Mea Low (2- Decisi
Mean SD n er Upper t df tailed) on Conclusion
Sale(Before There is a
Covid) significant
difference on
Sale 1.11 1.39 19.0 Reject daily sale of the
1.550 .081 1.711 188 .000
(DuringCov 7 0 72 H 0 market vendors
id) before and
during Covid-19
Pandemic.
The table shows the paired t-test result on the difference between before and
during the COVID-19 Pandemic to the market vendors daily operating performance in
terms of daily sales.

44
It reveals that there is a significant difference in the daily sales of the market
vendors during the COVID-19 pandemic than before the COVID-19 pandemic with
t(188)= 19.072 and p=.000 which is less than the α =0.05 which rejects the null
hypothesis. Before, public market vendors tend to have high daily sales that means high
profit and have greater longevity in their jobs than typical retail employees (Zaretsky,
2017). The unfolding crisis has affected food systems and threatened people’s access to
food. These crises have resulted lower sales and income because many families lost jobs
and unable to buy goods (Cole et al., 2020).
Table 10

Market Vendors Daily Operating Performance in terms of Daily Operating Cost
Paired Samples Test
Paired Differences
95%
Confidence
Interval of
Std. the
Error Difference Sig.
Mea Low (2- Decisi
Mean SD n er Upper t df tailed) on Conclusion
OperatingC There is no a
ost significant
(BeforeCov difference on
id) daily operating
6.37 Reject
.444 .958 .070 .307 .582 188 .000 cost of the
6 H0
OperatingC market vendors
ost before and
(DuringCov during Covid-19
id) Pandemic.
45
terms of daily operating cost. It reveals that there is no significant difference in the daily
sales of the market vendors during the COVID-19 pandemic than before the COVID-19
pandemic with t(188)= 6.376 and p=.000 which is less than the α =0.05 which rejects the
null hypothesis.
Expense reductions to their budgets was expected to find cost savings to
temporarily adjust expense levels until customer demand and revenues return to historical
levels “cutting your way to prosperity (Gaul, 2020). With suppliers shuttered and people
lost jobs, business need to keep expenses as low as possible in addition to seeking a
healthy bottom line. Reducing the operating costs has a direct impact on not just your
profitability, but your ability to keep operating and survive long enough to compete once
the crisis is over (Biedron, 2020).
46
Table 11

Market Vendors Daily Operating Performance in terms
of Pay-back Period of Cost Recovery
Paired Samples Test
Paired Differences
95%
Confidence
Interval of
Std. the Sig.
Error Difference (2-
Mea Low taile Decisi
Mean SD n er Upper t df d) on Conclusion
Pay-back There is a
Period significant
(BeforeCov difference on
id) Pay-back Period
- -
Reject of cost recovery
-1.180 .899 .065 1.30 -1.051 18.04 188 .000
Pay-back H 0 of the market
9 7
Period t vendors before
(DuringCov and during
id) Covid-19
Pandemic.
terms of Pay-back Period of cost recovery.
It reveals that there is a significant difference in the daily sales of the market
vendors during the COVID-19 pandemic than before the COVID-19 pandemic with
t(188)= -18.047 and p=.000 which is less than the α =0.05 which rejects the null
hypothesis.
47
A significantly smaller percentage of market vendors spend 12-14 hours a day in
vending their products. Due to prolonged duration of working and higher sales it has been
proved that they would easily recover the expenses and would not take more than a week
(Saha, 2011). Such income losses translate directly into decreases to spending and
wellbeing, particularly for those with less of a cash buffer and who experience more
sustained losses. We see that, in general, families cut their spending in results, businesses
may find difficult to recover their operating expenses due to low sales (Wheat, 2020).
CHAPTER V
CONCLUSION AND RECOMMENDATIONS

This chapter presents the conclusions derived from the results of the study. It also
presented the recommendations based on the results of this investigation.
Conclusion
The study was conducted to determine the impact of COVID-19 Pandemic
outbreak on market vendors of Nasipit, Agusan del Norte as to their operating
performances if there is a significant differences before and during the outbreak of
COVID-19 Pandemic.
Based on the findings of the study due to COVID-19 outbreak and lockdowns,
many market vendors have been severely affected. Consequently, these small businesses
are facing variety of issues such as reduction in sales and profits.
The study therefore proved that there is a significant impact of COVID-19
Pandemic outbreak, showing significant differences in terms of: Operating performance
of market vendors before COVID-19 pandemic in terms of daily income, it is evident that
majority of the respondents has a high daily income ranges from 5,001 and above. While,
during COVID-19 the daily income of the market vendors deflated ranges from 1,000-
2,500.
In terms of pay-back period of cost recovery, it is evident that before COVID-19
pandemic it is easily recovered ranges from 2 to 3 days while in this difficult time the
recovery state of every business is striving ranges from 4 to 5 days.

49
The results proved the Goldratt’s theory of constraints which measures
operational performance and may use to increase profits. As government and business
respond to COVID-19. The researchers find it interesting that the theory of constraints is
being played out in real time on a mass scale. Especially in business establishments the
fact that the profit of every vendors in Nasipit Public Market are highly affected in this
crisis. Therefore, the study confirmed that the vendors experienced struggle in terms of
their payback period and daily sales in this difficult times.
Also, it affirms and fully accepts the theory of Maslow’s Hierarchy of needs is
related and best suit to support because it occurs the physical survival that makes the
market vendors pursue the job, thus, despite the COVID-19 pandemic, the market
vendors are still performing their work to sustain the necessities of the family.
Additionally, continue doing the operation and take risks is only the source of income,
hence, they have the eagerness to work in order to survive and provide the daily needs of
the family.
50
Most people are experiencing financial difficulties as a result of the crisis, so they
are not spending more and the businesses specifically, market vendors are not seeing an
increase in sales. As a result, it is concluded that the Covid-19 Pandemic has greatly
affected the daily lives of every individual, causing business operation to suffer. The
effect of COVID-19 on the world’s economic system is alarming because people do not
spend money, so firms do not get sales, so most firms shut down shops. It also observed
that it is only possible to recover economically from this fatal disease by 2021 because it
has had a significant effect on the global economy. Countries are facing many difficulties
in getting it back to a stable state. (Mahar, 2020). According to Donthu and Gustafsson
(2020), people seem to be utterly unprepared for large-scale outbreaks on a social level.
Our communities are more accessible than ever; we rely on importing essential goods,
such as food, energy, and medical equipment, instead of having them where they are
needed; and the effort to prepare for pandemic outbreaks is minimal. Our society’s
guiding principle seems to be a productive and economic benefit instead of protection.
After the latest breakout, this could alter. It’s also essential to point out that the concepts
(e.g., openness and free trade) have raised many countries worldwide out of poverty, and
well-developed economies have been produced in which society is centered. It is not
unlikely that any of them will be backed up by our community, resulting in more
suffering in the world.
Recommendations
Based on the findings of the study, the researchers recommended the following:
Primary Recommendation
The researchers found out that the Vendors of Nasipit Public Market suffered
because of this Pandemic outbreak. They should have a valid Food Handling Permit from
the Public Health Officer. At all times, food safety measures must be considered. This
would include the use of adequate hot or cold holding measures. All utensils, products,
displays must be properly sanitized and clean. Because, many customers are looking for a
nice and clean stall to make sure that the things or food they buy is safe and virus-free.
As the coronavirus pandemic causes unprecedented uncertainty, it is vital for businesses
to determine how to preserve and raise income, not just to contain or reduce costs. When
sales leaders have stabilized the immediate situation, despite social distancing across the
globe, they must turn to what it would take to maintain momentum and invest in the
recovery to rebound. (Andersen, Lehrke, Newtown, et al., 2020). All our society can do is
take preventive steps so that if we suspect an outbreak, we can respond rapidly. (Jorda,
Singh, & Taylor, 2020).

51
Secondary Recommendation
On the basis of the following aforementioned findings of the study and drawn
conclusions, the following are recommended:
To the Market Vendors
 It helps their businesses strengthen their position. Knowledge is power. This study
helps market vendors to gain a better perspective and understanding market or
target audience and to ensure firm stays ahead of the competition in this difficult
time.
Markets are a prominent trading space found in most cities and towns. Their
commonplace role as a venue for traders and buyers to exchange goods with currencies
can be traced back to the history of public markets as a place of commerce. A traditional
market that possesses a strong historical background gives huge contributions to the
economy of a country (Shakur et al., 2012).
To the Market Supervisor
 The researchers recommended that the Market Supervisor should engage with
their vendors and build relationships. In order to develop a relationship with
someone, it is always advisable to take a lead and be active.

Both leadership types and styles had been reviewed in relation to the productivity in
the organization along with the role stressors and role ambiguity. Leaders are claimed to
have a positive impact on the efficiency of the organization by influencing the team
members’ job performance (Al-Malki and Juan, 2018).
52
To the Department of Trade and Industry
 It gives the DTI Administrator the idea that can provide measures and policies
which help the market vendors amidst the outbreak.
On this occasion, government can offer technical help which can save their expenses
and cost. Therefore, government help is necessary for businesses to survive and run their
business in timely manner (Hussain et al, 2011).
To the Future researchers
 In order to obtain more reliable results, the future researchers should widen the
topic. The researchers or academicians who are interested in this topic might add
other relevant external influence factor. Such as economic status, cultural
difference, corporate image and religious faith for future study. Improving with
deeper study of consumer behaviours and feedback after sales. The target sample
could be based on different ranges of age, educational backgrounds and average
income. As the different criteria, factors and different environments could
generate perspective and research results.

As mentioned by Kuosa (2011), future research will provide precise
probabilities and foresight in favor of attempting to provide technical knowledge
that individuals and organizations can use to manage systems, information, and
structures. Critical comprehension and diversity are becoming increasingly
relevant in future study.
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APPENDICES
Appendix A
Letter to the Mayor
Appendix B
Research Instrument
PART I. RESPONDENT’S PROFILE
List below is the profile of market vendors before the outbreak of COVID-19.
Indicate the frequency of the following problem and concerns by checking the box
corresponding to your response.
1. Classification of vendor
(Unsa ka nga klase nga mamaligyaay).
( ) Fish vendor
( ) Meat vendor
( ) Vegetable vendor
( ) Dry good vendor
( ) Eatery vendor
( ) Fruit vendor
Operating Performance Before COVID-19 Outbreak
( Dagan sa inyong Negosyo sa wala pay Pandemya).
1. Daily Sales
(Taga adlaw na Halin sa wala pay pandemia).
( ) 999 and below
( ) 1,000-2,500
( ) 2,501- 3,000
( ) 3,500- 5,000
( ) 5,001 and above
2. Daily Operating Costs

(Pila ang inyong inadlaw nga galastohon o pohonan sa wala pay pandemia).
( ) 999 and below
( ) 1,000- 1,500
( ) 1,501- 3, 000
( ) 3,001- 5,000
( ) 5,001 and above
3. Pay-back Period of Cost Recovery

( Pila ka adlaw maka bawi sa inyong mga galastoonon sa wala pay pandmia).
( ) 1 day and less than
( ) 2 to 3 days
( ) 4 to 5 days
( ) 6 days or more than
PART II. IMPACT OF COVID-19 TO THE MARKET VENDORS

( Epekto sa Pandimiya sa Mga Mamaligyaay sa Mercado).
List below is the various impact of COVID-19 to the market vendors, indicate the
frequency of the following problem and concerns by checking the box corresponding to
your response.
1. Daily Sales
(Taga adlaw na Halin sa naanay pandmia).
( ) 999 and below
( ) 1,000-2,500
( ) 2,501- 3,000
( ) 3,500- 5,000
( ) 5,001 and above
2. Daily Operating Costs

3. (Pila ang inyong inadlaw nga galastohon o pohonan sa naanay pandemia).
( ) 999 and below
( ) 1,000- 1,500
( ) 1,501- 3, 000
( ) 3,001- 5,000
( ) 5,001 and above
4. Pay-back period of cost recovery

( Pila ka adlaw maka bawi sa inyong mga galastoonon sa naanay pandemia)
( ) 1 day and less than
( ) 2 to 3 days
( ) 4 to 5 days
( ) 6 days and more than
Appendix D
Map
MAP OF NASIPIT PUBLIC MARKET

Appendix F
Letter to the Author

Appendix E
CURRICULUM VITAE
Niňolino J. Cadiz
Igpalas, Nasipit, Agusan del Norte
ninolino_cadiz@smcc.nasipit.edu.ph
09058394657
I. PERSONAL DETAIL
Nickname : Ninz
Birthday : September 6, 1999
Age : 21
Gender : Male
Civil Status : Single
Nationality : Filipino
II. EDUCATIONAL BACKGROUND
Level Name of School and Address School Year
College Saint Michael College of Caraga 2018- Present
Atupan St., Nasipit, Agusan del Norte
Senior High School Nasipit National Vocational School 2016-2018
Bayview Hill, Nasipit, Agusan del Norte

Junior High School Nasipit Vocational School 2012-2016
Elementary School Culit Elementary School 2006-2012
Culit, Nasipit, Agusan del Norte
Pre-school Culit Pre-school 2005-2006
III. TRAININGS AND SEMINARS
Challenges to Finance Management in the Next Generation October 2019
AVR at SMCC
Financial Inclusions: Expanding the reach of the Capital Market July 2018
AVR at SMCC
Appendix E
CURRICULUM VITAE
Glorianne Gail A. Felias
D-2 Culit, Nasipit, Agusan del Norte
gloriannegail_felias@smcc.nasipit.edu.ph
09270029810
I. PERSONAL DETAIL
Nickname : Gail
Birthday : November 27, 1999
Age : 21
Gender : Female
Senior High School Saint Michael College of Caraga 2016-2018

Junior High School Saint Michael College of Caraga 2012-2016
Elementary School Culit Elementary School 2006-2012
Pre-school Culit Pre-school 2005-2006
AVR at SMCC
AVR at SMCC
What it takes to Lead in the Business World October 2016
AVR at SMCC
Appendix E
CURRICULUM VITAE
Johanna Mae K. Pabatang
Ata-atahon, Nasipit, Agusan del Norte
johonnamae_pabatang@smcc.nasipit.edu.ph
09125192424
I. PERSONAL DETAIL
Nickname : Wanang
Birthday : July 15, 1999
Age : 21
Gender : Female
Senior High School Nasipit National Vocational School 2016-2018

Junior High School Nasipit Vocational School 2012-2016
Elementary School Ata-atahon Elementary School 2006-
2012
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APPENDIX G
DOCUMENTATION
Thesis Making

Thesis-Impact of Covid-19 Among Vendors

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Thesis-Impact of Covid-19 Among Vendors

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THE IMPACT OF COVID-19 AMONG THE VENDORS OF NASIPIT AGUSAN

The Faculty of the College of Tourism, Hospitality,

Business Administration and Management

Saint Michael College of Caraga

Nasipit, Agusan del Norte

of the Requirement for the Degree

BACHELOR OF SCIENCE IN BUSINESS ADMINISTRATION

major in FINANCIAL MANAGEMENT

GLORIANNE GAIL A. FELIAS

JOHANNA MAE K. PABATANG

Background of the study 1

Statement of the Problem 7

Scope and Limitations

II Review of Related Literature

III Research Methodology

Data Gathering Procedure 31

IV. RESULTS AND DISCUSSION 33

V. CONCLUSION AND RECOMMENDATIONS 48

C. Respondents Consent Form

D. Map of the Location

F. Letter of Permission to the Author

TABLE NO. TITLE PAGE

1 Respondents of the Study 30

2 Distribution of the Respondents as to 33

Classification of Market Vendors

3 Level of Operating Performance before the 35

COVID-19 Pandemic, in terms of Daily Sales

4 Level of Operating Performance before the 36

COVID-19 Pandemic, in terms of Daily Operating Cost

5 Level of Operating Performance before the 37

COVID-19 Pandemic, in terms of Pay-back Period of

6 Level of Impact of COVID-19 Pandemic, 39

in terms of Daily Income

7 Level of Impact of COVID-19 Pandemic, 40

in terms of Daily Operating Cost

in terms of Pay-back Period of Cost Recovery

9 Test on Difference Before and During the 43

COVID-19 Pandemic to the Market Vendors Daily

Operating Performance in terms of Daily Sales

10 Test on Difference Before and During the 44

COVID-19 Pandemic to the Market Vendors Daily

Operating Performance in terms of Daily Operating Cost

11 Test on Difference Before and During the COVID-19

Pandemic to the Market Vendors Daily Operating Performance

in terms of Pay-back Period of Cost Recovery

FIGURE NO. TITLE PAGE

Goldratt’s Theory and Abraham Maslow’s Hierarchy of Needs.

respondents with an attached informed consent form to protect their identity.

performances before and during COVID-19 among the market vendors. It is

study and create strong strategies in providing product and services.

people who exerted their outmost efforts to support their research.

and writing of this thesis.

extent to achieving their study.

correction and ideas shared.

them in completing their task directly.

study would not have been possible.

directly or indirectly, have lent their helping hand in their journey.

Background of the Study

their business to shut down because of the pandemic outbreak.

Although the ongoing study examines the economic implications of COVID-19,

most of these studies concentrate on coronavirus's macroeconomic and financial effects.

approach), is then translated into the socio-economic impact on individuals. Although

the relationship between sectors and countries or the effects of aggregated