The impact of financial management to the growth of small- scale businesses
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Date
2024-09-16
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Uganda Christian Universitz
Abstract
This study is an examination of the impact of financial management on the growth and
development of small-scale businesses in Mukono Municipality. Specifically, the study
examined the financial management strategies, the limitations of financial management strategies
and solutions and the financial. The study used a cross-sectional study design on a sample of 80
respondents. Data was collected by use of questionnaires analysed qualitatively and
quantitatively. With the help of SPSS 17.0, quantitative data was analysed basing on mean and
standard deviations. For qualitative data, it was interpreted by composing explanations and
conclusions on how different variables were related. The study established that, Small-scale
businesses in Mukono Municipality Central Division demonstrate a strong emphasis on budget
creation, liquidity tracking, offering customer discounts, and managing payables and receivables
efficiently, SME is performing well in terms of sales growth, market share, customer
satisfaction, and customer acquisition and retention. However, there are areas for improvement,
particularly in cash flow management and reducing variability in labor turnover perceptions. The
study recommends that; businessmen and women in small businesses should establish different
financing options for the growth and development of their businesses. Businessmen and women
need to carry out record keeping for the growth of small businesses