THE RELEVANCE OF FINANCIAL MANAGEMENT TOOLS TO THE GROWTH OF SMALL AND MEDIUM SCALE ENTERPRISES (SMES) IN NIGERIA

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dc.contributor.authorAdeyanju Olanrewaju David
dc.date.accessioned2025-06-03T11:40:22Z
dc.date.available2025-06-03T11:40:22Z
dc.date.issued2019
dc.description.abstractSmall and Medium Scale Enterprises (SMEs) are proved to be the backbone of all developed and developing nations. The development of SME sector is of paramount importance to any country irrespective of their level of development, since this sector has great potential to generate maximum socio economic benefits to the country with minimum level of investment. This study focuses on the Relevance of Financial Management Tools to the Growth of Small and Medium Scale Enterprises in Nigeria. Five hypotheses were formulated and tested. The primary data was obtained through the administration of questionnaires. The result of the regression analysis and ANOVA used to test the hypotheses indicates that financial management tools which includes profitability, effective internal control, effective financial reporting, accounting record/documentation, and working capital has significant impact on the growth of SMEs as shown by the result in the analysis. However, only accurate record keeping and documentation has positive significance. Therefore based on these findings, the study recommends that SMEs should make constant effort to adopt the needed financial management tools since they have a positive influence on the growth of SMEs. Further studies should explore increased data sets to confirm the relevance of other variables.
dc.identifier.issn2348 0386
dc.identifier.urihttps://repository.run.edu.ng/handle/123456789/5157
dc.language.isoen
dc.publisherInternational Journal of Economics, Commerce and Management
dc.relation.ispartofseries7; 8
dc.titleTHE RELEVANCE OF FINANCIAL MANAGEMENT TOOLS TO THE GROWTH OF SMALL AND MEDIUM SCALE ENTERPRISES (SMES) IN NIGERIA
dc.typeArticle
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