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An Analysis of Financial Management in the Success of Small Scale Business

Alhaji Kawugana PhD & Abdallah Ahmedmubi

Abstract

This study analyzed financial management approach in the success of small scale business. The purpose of this study is to carry a study on a financial management system and the survival of small scale industries in Nigeria with particular reference to one among the leading printing press situated in north eastern part of Nigeria known as Ramadan Printing Press, Bauchi State. The survey research design was adopted and Instrument of data collection are questionnaire and personal interview which formed the source of primary data and secondary sources of data were also used. 40 questionnaires were distributed to the staff of the company and only 35 were filled and returned. Tables and simple percentages were used to analyze the data. The statistical tool used to test hypotheses was chi-square (X2). The major finding of the research is that the use of poor accounting and internal control system has negative impact on the survival of small scale industries in Nigeria. Based on the finding, the study concludes that it is clear that financial management approaches is the main factor in the success of small scale business. , Based on the conclusion the study recommends that there should be proper financial management concerned with planning and controlling of the firm’s financial resources and there is no way a business can succeed without planning and controlling its financial resources.

Keywords

Financial ManagementSmall ScaleBusinessSuccessAnalysis

References

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