IMPACT OF COVID-19 PANDEMIC ON THE FINANCIAL PERFORMANCE OF MSMES COFFEE SHOPS IN GENERAL SANTOS CITY

This study aims to know the impact on the financial performance of MSMEs coffee shops during the COVID-19 pandemic in General Santos City. Moreover, it sought to analyze how the business managed its operations during the pandemic. The researcher used descriptive statistics to explain the data and a judgmental sampling technique to choose the respondents. Researchers conducted survey questionnaires using the Likert scale 1-5 variables for indicators and selected applications for the challenges and strategies faced due to the pandemic. Forty respondents were divided into twenty-five micro, ten small, and five medium enterprises owners in General Santos City for the quantitative data. Based on the study's results, MSMEs continue to experience a significant decline in sales and revenue, which signifies that the COVID-19 pandemic has a minor impact on the financial performance of coffee shops. Due to the challenges brought by the pandemic, it is therefore essential for coffee shop owners to be flexible, strategic, and optimistic in managing their business. Looking into opportunities amidst the challenging situation is vital to keep the business growing. Further, it is recommended for future entrepreneurs to analyze and assess the business' financial performance, set multiple backup plans for the business, plan its response to the new normal setting, and the same to the other potential threats to the business.