Decision-making vs. business performance and management of small restaurants in Chiquinquirá, Boyacá.

Abstract

The gastronomic sector is a fundamental component in the local economy, especially in intermediate municipalities where small restaurants represent a significant source of employment and commercial revitalization. However, these establishments face limitations in financial management, particularly in the use and interpretation of financial statements as a tool for decision-making. The objective of this study is to analyze the influence of financial statements on decision-making and profitability of small restaurants in Chiquinquirá. The research was developed under a quantitative approach, with a non-experimental design, cross-sectional and descriptive-correlational scope. The information was collected through surveys and interviews applied to a sample of 40 restaurants. The results show a low level of use of financial statements, as well as a limited application of accounting information in cost management and decision-making. However, a positive relationship is identified between the use of these tools and the profitability of the establishments, which highlights their importance in business management. It is concluded that the strengthening of financial education and the implementation of structured accounting practices are key factors to improve the sustainability and competitiveness of small restaurants in local contexts.