Financial Management Practices and Success of Small Scale Entreprises in Oyi Local Government Area, Anambra State

Student: NGOZI LOVE OBI (Project, 2025)
Department of Vocational and Technical Education
Cross Rivers University of Technology, Calabar, Cross Rivers State

Abstract

This study investigated financial management practices and success of small and medium scale enterprises in Oyi Local Government Area, Anambra State. Three research questions were raised and three hypotheses were formulated to guide the study. Literature was reviewed according to the sub variables of the study. The population of the study was 572 small scale enterprise owners in the study area. Proportional and accidental sampling techniques were employed in selecting 286 small scale enterprise owners from the study area to participate in th study. The instrument used for data collection was a questionnaire developed by the researcher, validated by three experts and had an overall relibility index of 0.81. 272 out of 286 copies of the questionnaire were sucessfuly collected. The data collected were statistically analyzed using Pearson Product Moment Correlation (PPMC). The following findings were obtained: there is significant relationship between budgeting, book keeping and cash management practice and success of small scale enterprises. Based on the findings, it was recommended among others that small scale entrepreneurs should improve their budgeting skills to be able to use quality accounting information to enhance their business performance.

Keywords
financial management practices success scale entreprises local government anambra state
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