RELEVANCE OF FINANCIAL MANAGEMENT AND PLANNING ON SMALL SCALE BUSINESSES IN YOBE STATE (STUDY OF SELECTED SMALL-SCALE BUSINESSES IN GASHUA)
- Project Research
- 1-5 Chapters
- Abstract : Available
- Table of Content: Available
- Reference Style: APA
- Recommended for : Student Researchers
- NGN 3000
ABSTRACT
This study was carried out to investigate the relevance of financial management and planning on small scale businesses in Yobe state using selected small-scale businesses in Gashua as case study. Specifically, the study examined the role of financial management & planning on SMEs; the factors that influence the adoption of effective Financial management & planning by SMEs; the extent implementation of Financial management by SMEs in Gashua has enhanced accountability. The study employed the survey descriptive research design. Questionnaire was used for data collection which was raised against a four Likert scale of Strongly Agree(SA), Agree(A), Strongly Disagree(SD) and Disagree(D), and was analysed using the Relative Importance Index (RII). A total of 338 respondents were purposively selected as sample size comprising of block businesses, bakery businesses, sachet water businesses and tailoring and fabrics businesses. Out of the 338 respondents, 259 responses were validated from the survey. The study adopted the Pecking Order Theory. From the responses obtained and analysed, the findings revealed that there is a significant positive relationship between financial management and planning and sustainability of SMEs. This implies that SMEs who adopts effective financial management and planning in their business achieves sustainability. Furthermore, there is a significant positive relationship between financial management and planning and accountability of SMEs. This is as the Pearson correlation test showed a positive significant relationship of (.922**) and (.897**) respectively. On the basis of these findings, it was recommended thatSMEs in Gashua should adopt financial management and planning in their businesses in order to benefit from its numerous advantages such as accountability, profitability and sustainability for businesses. More so, the Small and Medium Enterprises Development Agency (SMEDAN) and financial experts should sensitize the SMEs owners on the relevance of bookkeeping, financial reporting and analysis as well maintaining proper books of analysis. Capacity building should be organized for SMEs owners to help them understand why they should keep updated books so as to effectively measure their performance.
Related Project Materials
THE ROLE OF EARLY CHILDHOOD EDUCATION IN SUPPORTING SINGLE PARENTS
ABSTRACT: This study examines the crucial role of early childhood educatio...
EFFECT OF TAX EVASION AND AVOIDANCE ON REVENUE GENERATION IN NIGERIA
BACKGROUND OF THE STUDY
Tax is one of the main source of Government Revenue. It is a strong social and...
BODY LINEAR PARAMETERS OF CROSS BREED WEST AFRICAN DWARF GOAT
ABSTRACT
Two hundred and forty four (244) West African Dwarf (WAD) Goats comprising one hundred and six...
AN ANALYSIS OF CORPORATE FRAUD DETECTION AND PREVENTION IN NIGERIA FIRMS: A STUDYOF SELECTED FIRMS.
ABSTRACT
This research work was undertaken to asses the corporate fraud prevention and detection in Nigeria firms a case study of selecte...
EFFECT OF ENRICHED EXPOSITORY METHOD ON INTEREST AND PERFORMANCE IN GEOMETRY AMONG JUNIOR SECONDARY SCHOOL STUDENTS IN KADUNA STATE, NIGERIA
ABSTRACT
This study investigated the effect ofenriched expository method on interest and performance in geometry among Junior Secondary S...
RETAILERS CULTURE AND ATTITUDINAL BARRIERS TOWARDS THE USE OF ENAIRA
BACKGROUND OF THE STUDY
Globalization and digitization have revolutionized how businesses operate and competes in the ma...
AN ASSESSMENT OF ANTI-CORRUPTION CRUSADE UNDER GOODLUCK JONATHAN AND MUHAMMADU BUHARI ADMINISTRATION IN NIGERIA
ABSTRACT
Corruption has been an accepted cancerous disease that overtime has eaten deep into the soil of Nigeria. Corrup...
IMPACT OF URBANIZATION ON ENVIRONMENTAL HEALTH QUALITY
EXCERPT FROM THE STUDY
Probably most of the major environmental problems of the next century will result from the contin...
A SURVEY OF DATA BASE MANAGEMENT IN ENHANCING THE WORK PERFORMANCE OF OTM GRADUATES
Abstract
In this study, our focus was to carryout a critical analysis on the impact of database o...
BRANDING'S INFLUENCE ON PRODUCT MARKETING AND DISTRIBUTION
Background of the study
Prior to the country's independence in 1960, the majority of Nigeria's population...
