International Journal of Research and Reviews in Social and Applied Sciences

Submit Article
Guides For Authors
  • Call For Papers
  • Processing Charges
  • Journal Coverage
  • Open Access Policy
  • Review Process

Trending Topics
ASSESSMENT OF CASH MANAGEMENT PRACTICE AND GROWTH OF SMES IN UYO LOCAL GOVERNMENT AREA

The study examines the effect of cash management and the growth of SMES in the Uyo local government area. Uyo is one of the LGs of Akwa Ibom State. The study adopted a descriptive research design. The study was conducted in Uyo metropolis. The population of the study consisted of all the SME operators in the study area. The sampling technique was used to select 383 respondents, which constituted the sample size for the study. The main instrument of the study was a questionnaire. Face and content validation of the instrument was carried out to ensure that the instrument has the accuracy, appropriateness, completeness, and language of the study under consideration. The Cronbach Alpha technique was used to determine the level of reliability of the instrument. The reliability coefficient obtained was 0.84, which was high enough to justify the use of the instrument. The researcher subjected the data generated for this study to appropriate statistical techniques, such as descriptive statistics and t-test analysis. The test for significance was done at 0.05 alpha levels. Based on the study's data analysis, it was concluded that the SME owners lacked sufficient knowledge of cash management practises and had not kept track of their cash payments and receipts. rarely prepares the cash budget and frequently operates bank accounts in current accounts. The study recommended that the management of SMEs employ competent people who can design business plans, prepare cash flow projections, and budget cash; the management must also ensure budgetary control, an internal control system, and profitable items are in place and under strict control, and improve their credit policies. The management must avoid holding too many inventories, avoid overtrading, avoid too many investments in capital expenditure, control their spending habits on luxuries, and retain profits for further growth.

UDOUNWA, INYANG & ROBSON
Download Article
Featured Article

Global Studies Quaterly
Bioinformatics Advances
Bioscience & Technology
ISSN(Softcopy)

2931 - 7853

Impact Factor

4.78

Indexing
  • Directory of Open Access Journals
  • Google Scholars
  • Public Library of Science
Publication Fee

$30.00

Quick Response

editorijrdrss@gmail.com

Physical Location
CAARN Empirical Research Network
1118 Roxas Boulevard, Corner United Nations Ave, Ermita, Manila, 1000 Metro Manila, Philippines.