Financial Viability of Business Models For Engineered Vertical Hydroponics Systems For Sustainable Onion Production in The Philippines
This study aimed to explore the financial, socio-economic, and environmental benefits of sustainable onion production using vertical farming and hydroponic systems, and to identify key factors affecting the viability of these business models. Data were collected through a survey of onion farmers an...
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| Format: | Article |
| Language: | English |
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Yayasan Pendidikan Riset dan Pengembangan Intelektual (YRPI)
2023-06-01
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| Series: | Journal of Applied Engineering and Technological Science |
| Subjects: | |
| Online Access: | http://www.yrpipku.com/journal/index.php/jaets/article/view/2040 |
| _version_ | 1797737187579527168 |
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| author | Kenneth L. Armas Engr. Gina Lorenzo Catherine Dela Cruz |
| author_facet | Kenneth L. Armas Engr. Gina Lorenzo Catherine Dela Cruz |
| author_sort | Kenneth L. Armas |
| collection | DOAJ |
| description |
This study aimed to explore the financial, socio-economic, and environmental benefits of sustainable onion production using vertical farming and hydroponic systems, and to identify key factors affecting the viability of these business models. Data were collected through a survey of onion farmers and producers in the Philippines, and analyzed using descriptive and inferential statistics. Results showed that sustainable onion production using vertical farming and hydroponic systems has the potential to generate higher income for farmers, increase employment opportunities, improve food security, enhance market competitiveness, and promote environmental sustainability. Key financial factors affecting viability included production costs, market prices, yield, labor costs, energy costs, capital costs, financing costs, taxes and regulatory costs, and maintenance and repair costs. Recommendations for optimizing financial viability include reducing production costs, diversifying income streams, and improving market competitiveness. Overall, this study suggests that sustainable onion production using vertical farming and hydroponic systems is a viable and promising approach to achieving socio-economic and environmental sustainability in the agricultural sector.
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| first_indexed | 2024-03-12T13:24:48Z |
| format | Article |
| id | doaj.art-eb1b1b80aa6c4c83bd98a606e2d31035 |
| institution | Directory Open Access Journal |
| issn | 2715-6087 2715-6079 |
| language | English |
| last_indexed | 2024-03-12T13:24:48Z |
| publishDate | 2023-06-01 |
| publisher | Yayasan Pendidikan Riset dan Pengembangan Intelektual (YRPI) |
| record_format | Article |
| series | Journal of Applied Engineering and Technological Science |
| spelling | doaj.art-eb1b1b80aa6c4c83bd98a606e2d310352023-08-25T11:29:23ZengYayasan Pendidikan Riset dan Pengembangan Intelektual (YRPI)Journal of Applied Engineering and Technological Science2715-60872715-60792023-06-014210.37385/jaets.v4i2.2040Financial Viability of Business Models For Engineered Vertical Hydroponics Systems For Sustainable Onion Production in The PhilippinesKenneth L. Armas0Engr. Gina Lorenzo1Catherine Dela Cruz2Nueva Ecija University of Science and TechnologyNueva Ecija University of Science and TechnologyNueva Ecija University of Science and Technology This study aimed to explore the financial, socio-economic, and environmental benefits of sustainable onion production using vertical farming and hydroponic systems, and to identify key factors affecting the viability of these business models. Data were collected through a survey of onion farmers and producers in the Philippines, and analyzed using descriptive and inferential statistics. Results showed that sustainable onion production using vertical farming and hydroponic systems has the potential to generate higher income for farmers, increase employment opportunities, improve food security, enhance market competitiveness, and promote environmental sustainability. Key financial factors affecting viability included production costs, market prices, yield, labor costs, energy costs, capital costs, financing costs, taxes and regulatory costs, and maintenance and repair costs. Recommendations for optimizing financial viability include reducing production costs, diversifying income streams, and improving market competitiveness. Overall, this study suggests that sustainable onion production using vertical farming and hydroponic systems is a viable and promising approach to achieving socio-economic and environmental sustainability in the agricultural sector. http://www.yrpipku.com/journal/index.php/jaets/article/view/2040Sustainable AgricultureVertical FarmingHydroponicsOnion ProductionFinancial ViabilitySocio-Economic Benefits |
| spellingShingle | Kenneth L. Armas Engr. Gina Lorenzo Catherine Dela Cruz Financial Viability of Business Models For Engineered Vertical Hydroponics Systems For Sustainable Onion Production in The Philippines Journal of Applied Engineering and Technological Science Sustainable Agriculture Vertical Farming Hydroponics Onion Production Financial Viability Socio-Economic Benefits |
| title | Financial Viability of Business Models For Engineered Vertical Hydroponics Systems For Sustainable Onion Production in The Philippines |
| title_full | Financial Viability of Business Models For Engineered Vertical Hydroponics Systems For Sustainable Onion Production in The Philippines |
| title_fullStr | Financial Viability of Business Models For Engineered Vertical Hydroponics Systems For Sustainable Onion Production in The Philippines |
| title_full_unstemmed | Financial Viability of Business Models For Engineered Vertical Hydroponics Systems For Sustainable Onion Production in The Philippines |
| title_short | Financial Viability of Business Models For Engineered Vertical Hydroponics Systems For Sustainable Onion Production in The Philippines |
| title_sort | financial viability of business models for engineered vertical hydroponics systems for sustainable onion production in the philippines |
| topic | Sustainable Agriculture Vertical Farming Hydroponics Onion Production Financial Viability Socio-Economic Benefits |
| url | http://www.yrpipku.com/journal/index.php/jaets/article/view/2040 |
| work_keys_str_mv | AT kennethlarmas financialviabilityofbusinessmodelsforengineeredverticalhydroponicssystemsforsustainableonionproductioninthephilippines AT engrginalorenzo financialviabilityofbusinessmodelsforengineeredverticalhydroponicssystemsforsustainableonionproductioninthephilippines AT catherinedelacruz financialviabilityofbusinessmodelsforengineeredverticalhydroponicssystemsforsustainableonionproductioninthephilippines |