Record Details

Impact of Financial Management Practices on Success of Small Business Enterprises the Case of Woliso Town, South Weest Shewa, Ethiopia

American Journal of Business and Management

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Title Impact of Financial Management Practices on Success of Small Business Enterprises the Case of Woliso Town, South Weest Shewa, Ethiopia
 
Creator Deresa, Tamiru Kumsa; AMBO UNIVERSITY
 
Subject business, management, cooperatives
Key words: financial management, Business Enterprises, practices
 
Description The study aims to asses’ financial management practice Impact on small business enterprise in Woliso town. The main objective of the study was to investigate the effect of financial management practices on profitability. The target populations for the study were 135 business organizations found in woliso town. To reach the targeted goal, primary and secondary data were also collected. As to the factor which in inhabit good financial management practices:-Qualified accountants are too expensive to maintain (93%), Accounting records too difficult to understand (87%), Lack of internal accounting staff (73%), the business is too small (73%) were the major factor identified. Lastly, majority of the study show that as financial management practices such as recording, reporting & analysis, working capital management, fixed asset management has positive impact on the profitability (SUCCESS) of the small business and majority of the business firm found in this area. Most Business Enterprises have not appointed financial managers to be in charge of financial management of the company. Therefore, owner of the business should focus on sound financial management practice well. This finding leads to the conclusion that the efficiency of financial management practices and characteristics can bring about higher profitability. Therefore, business organizations can improve profitability by raising the efficiency of financial management practices and characteristics.   
 
Publisher World Scholars
 
Contributor myself
 
Date 2016-12-30
 
Type Peer-reviewed Article
 
Format application/pdf
 
Identifier http://wscholars.com/index.php/ajbm/article/view/798
10.11634/216796061605798
 
Source American Journal of Business and Management; Vol 5, No 4 (2016); 118-128
 
Language en
 
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