THE EFFECT OF COST MANAGEMENT ON PERFORMANCE OF SELECTED SMALL AND MEDIUM ENTERPRISES IN GENERAL SANTOS CITY

Small and medium enterprises (SMEs) are critical to employment creation and global economic development. In most developing countries, small and medium-sized businesses are an integral component of the economic fabric, and they play a critical role in promoting growth, innovation, and prosperity (Dalberg, 2011). The purpose of this study is to know and understand about the Cost Management of Small and Medium Enterprises (SMEs) in General Santos City. In particular, the study is being conducted to assist small and medium enterprises in gaining knowledge about effective cost management that can help them improve their business performance.
To test the hypothesis that there is no significant relationship between the cost management and performance of small and medium-sized firms in General Santos City. A survey of selected small and medium businesses in General Santos City was undertaken. The study's respondents are small and medium business owners. In their absence, an employee or other authorized personnel who are extensively involved in the firm's operation and management.
These findings imply that small and medium enterprises are more likely to employ cost management that the owners or managers regard as having the potential to expand the business. On this basis, when attempting to improve business performance, the concept of cost management should be considered.