Impact of financial limitations on the economic viability of gastronomic micro-enterprises in northern Guayaquil.

Authors

DOI:

https://doi.org/10.19136/hitos.a32n94.6416

Keywords:

financial limitations, economic viability, micro-enterprises, financial ratios, Altman Z model.

Abstract

OBJECTIVE: To determine the impact of financial limitations on the economic viability of gastronomic micro-enterprises in northern Guayaquil, using the financial packages of micro-enterprises from the period 2020-2024, to analyze their financial health situation.

MATERIAL AND METHOD: Using a quantitative, descriptive, and non-experimental design approach, secondary data from the Superintendency of Companies and the Internal Revenue Service were used. The population comprised 246 economic units, and a criterion sample of five microenterprises with complete and homogeneous information for the five-year period of analysis was selected.

RESULTS: They show that over-indebtedness, a high concentration of current liabilities, and the pressure of operating costs deteriorate financial stability, while efficient liquidity management strengthens business continuity in restrictive economic environments.

CONCLUSIONS: Financial constraints, caused by excessive debt and liquidity problems, make micro-enterprises in the food service sector highly vulnerable. This is confirmed by Altman's Z-score model, which indicates a risk of insolvency.

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Author Biographies

  • Mercy Victoria Agila Maldonado, University of Guayaquil

    Docente de la Universidad de Guayaquil, Facultad de Ciencias Administrativas, carrera Licenciatura en Administración de Empresas, autora de varios artículos científicos indexados y capítulos de libros, ha participado como ponente en congresos nacionales e internacionales.
    Ha ejercido funciones de gestión en el área académica y administrativa de acreditación de carrera en la Universidad de Guayaquil, gestora en el área de investigación y emprendimiento INNOVUG. En el ámbito profesional se ha desempeñado en varias empresas privadas en el área de finanzas y contaduría.
    Doctoranda en Ciencias Económicas mención Administración en Universidad Nacional de Cuyo, Argentina. Magister en Finanzas y Proyectos Corporativos por la Universidad de Guayaquil, Ecuador. Economista por la Universidad de Guayaquil, Ecuador.

  • Luis Francisco Gonzalez Culcay

    Maestrante en Administración de Empresas en la Universidad de Guayaquil, Ingeniero Comercial con experiencia en gestión administrativa, apoyo a los procesos institucionales. Asistente Administrativo en el Gobierno Autónomo Descentralizado Municipal de Balzar, donde contribuyo a la optimización de procesos internos y a la gestión operativa del área administrativa. Mi enfoque profesional está orientado a la eficiencia organizacional y al fortalecimiento de la gestión pública local.

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Published

2026-09-15

Issue

Vol. 32 No. 94 (2026): Hitos de Ciencias Económico Administrativas Vol. 32 Issue 94

Section

Original Article

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How to Cite

Agila Maldonado, M. V., & Gonzalez Culcay, L. F. (2026). Impact of financial limitations on the economic viability of gastronomic micro-enterprises in northern Guayaquil. HITOS DE CIENCIAS ECONÓMICO ADMINISTRATIVAS, 32(94), 381-396. https://doi.org/10.19136/hitos.a32n94.6416