ESTRUCTURA FINANCIERA DE LAS PYMES DE LA CIUDAD DE GUAYAQUIL DEL SECTOR DE INDUSTRIA MANUFACTURERA PRODUCTOS ALIMENTICIOS DURANTE EL PERÍODO 2015-2017

Abstract

This paper analyzes the financial structure of SMEs in the Food Industry sector of the city of Guayaquil, carrying out a review of the financial statements corresponding to the periods 2015 to 2017. The companies in the food sector are the most representative of the Manufacturing SMEs. It is necessary to point out that the manufacturing industries in general do not have a representative participation in the business activity of Ecuador. One of the objectives of this research work is to observe, through financial indicators, the weaknesses or factors that impede the growth of these companies. As part of the research process, a review of the literature on SMEs and the financial aspects related to this sector was carried out; as well as analyzing the databases with the financial statements reported by these companies to the Superintendency of Securities and Insurance Companies, the body responsible for the control and regulation of business activity in Ecuador. In line with the above, it was concluded that the two main sources of financing for SMEs in the food manufacturing sector are: suppliers and loans to third parties, while bank loans and equity resources play a negligible role. This type of financing is mainly concentrated in short-term liabilities, requiring these companies to be more liquid to meet these obligations. The concentration of short-term liabilities limits their ability to maneuver cash flows. In addition, the informality in the declaration of their financial figures affects that these companies present a weak and unattractive structure for the bank at the time of accessing loans.