The Impact of Financial Management Training on Women Entrepreneurs in Potiskum LGA
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Background of the Study
Women entrepreneurs in Potiskum LGA play a significant role in the local economy, contributing to various sectors such as trade, agriculture, and small-scale manufacturing. However, many of these entrepreneurs face challenges related to financial management, including poor cash flow management, lack of budgeting skills, and inadequate financial planning. Financial management training can equip women entrepreneurs with the skills they need to manage their businesses more effectively. This study will assess the impact of financial management training on the performance and growth of women-owned businesses in Potiskum LGA.
Statement of the Problem
Despite the potential of women entrepreneurs in Potiskum LGA, many struggle with financial mismanagement due to a lack of financial literacy and formal financial training. This study seeks to explore how financial management training can influence business operations, decision-making, and overall financial performance. Additionally, it will examine the role that training plays in enhancing the financial skills of women entrepreneurs, enabling them to improve their businesses' sustainability and profitability.
Aim and Objectives of the Study
1. To assess the impact of financial management training on the financial performance of women entrepreneurs in Potiskum LGA.
2. To examine the relationship between financial management training and business growth among women entrepreneurs.
3. To recommend strategies for improving financial literacy and training programs for women entrepreneurs.
Research Questions
1. What financial management training programs have been implemented for women entrepreneurs in Potiskum LGA?
2. How has financial management training impacted the financial performance and growth of women-owned businesses?
3. What challenges do women entrepreneurs face in implementing financial management practices after receiving training?
Research Hypotheses
1. H₀: Financial management training does not significantly improve the financial performance of women entrepreneurs in Potiskum LGA.
2. H₀: Women entrepreneurs who receive financial management training are no more likely to experience business growth than those who do not receive training.
3. H₀: Financial management training does not significantly improve the financial decision-making abilities of women entrepreneurs in Potiskum LGA.
Significance of the Study
This study will provide insights into the effectiveness of financial management training in enhancing the performance of women entrepreneurs in Potiskum LGA. It will help policymakers, development organizations, and NGOs understand the value of financial literacy programs and contribute to designing more effective training initiatives to support women entrepreneurs.
Scope and Limitation of the Study
The study will focus on women entrepreneurs in Potiskum LGA who have received financial management training. Limitations may include challenges in measuring the direct impact of training programs on business performance and the availability of reliable data from small businesses.
Definition of Terms
• Financial Management Training: Educational programs designed to teach individuals or businesses about budgeting, cash flow management, financial planning, and other key aspects of financial decision-making.
• Women Entrepreneurs: Female individuals who operate their own businesses or engage in entrepreneurial activities, often in small- to medium-sized enterprises.
• Business Growth: The increase in a business’s size, revenue, market share, or other key performance indicators.
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