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ABSTRACT
The main thrust of this study is to unveil the working capital management practices of small and medium scale enterprises in Akwa Ibom State of Nigeria. A well designed and implemented working capital management is expected to contribute positively to the creation of firm’s values.
The study used descriptive and analytical sample survey for the representation and the analysis of the findings. The result shows that 87.4% of the entrepreneurs functioning as sole proprietors, whiles 14.1% as partnership and the remaining 1.5% as cooperative societies.
The results again shows that 46.1% received credit from suppliers and the average credit period given by SMEs to their credit customers ranged between seven to sixty days(7-60days).From the study , two main problems faced by SMEs in dealing with credit customers are late payment and bad debts.
The results shows that 52.8% of the respondents use note books to represents cash books whiles none (0%) of the respondents use computer inventory control. 65.3% of the respondents have bank accounts for their businesses. Personal savings accounted for about 35.7% of the startup capital and SMEs consider inflation /price increases to be more problematic than even high debtors turnover period and low stock turnover.
The SMEs should establish organizations and groups like civil society organizations, regional, district, community and interest groups to jointly organise and sponsor training programmes for their accounting personnel. There is also the need for SMEs to identify their investment priorities particularly those that are crucial in sustaining their businesses in the long run. They should sacrifice a chunk of their funds to finance and achieve these priorities that will enable them to generate extra cash or profits to plough back into other sectors of their industries.
It is also recommended that SMEs should prepare budget at each time they intend to embark on major expenses. This will forestall unnecessary, unwanted, overestimated and underestimated expense. There is also the need for SMEs to formulate credit policy for their enterprise and to create a re-order level policy for their institution that will create an enabling environment for them to request for their supply of moderate and high quality stocks
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SIMILAR SME/ENTREPRENEURSHIP FINAL YEAR PROJECT RESEARCH TOPICS
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1. MEDIUM SCALE ENTERPRISES AND SALESMANSHIP BEHAVIORAL CHARACTERISTICS INFLUENCE ON BUSINESS PERFORMANCE
» CHAPTER ONE 1.1 Background To The Study Small and Medium Scale Enterprises (SMEs) as defined by the National Council of Industries (2009) refer to bus...Continue Reading »Item Type & Format: Project Material - Ms Word | 75 pages | Instant Download | Chapter 1-5 | SME/ENTREPRENEURSHIP DEPARTMENT
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2. IMPACT OF PRODUCTION PLANNING AND CONTROL AS A MANAGEMENT FUNCTION ON THE SURVIVAL OF SMALL SCALE BUSINESS
» CHAPTER ONE 1.1 BACKGROUND OF THE STUDY This project is all about assessing the impact of planning and controlling as a management function on the sur...Continue Reading »Item Type & Format: Project Material - Ms Word | 60 pages | Instant Download | Chapter 1-5 | SME/ENTREPRENEURSHIP DEPARTMENT
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3. THE IMPACT OF ONLINE MARKETING ON THE PERFORMANCE OF SMALL AND MEDIUM SCALE ENTERPRISES (SMES) IN NIGERIA
» CHAPTER ONE INTRODUCTION 1.1 BACKGROUND OF THE STUDY Businesses are looking to new technologies to meet their unique business requirements and positio...Continue Reading »Item Type & Format: Project Material - Ms Word | 52 pages | Instant Download | Chapter 1-5 | SME/ENTREPRENEURSHIP DEPARTMENT
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4. BUSINESS CREDIT AVAILABILITY AND ITS IMPACT ON SMALL AND MEDIUM SCALE ENTERPRISES IN NIGERIA
» CHAPTER I 1.0 INTRODUCTION For both developing and developed countries, small and medium scale firms play importantroles in the process of industriali...Continue Reading »Item Type & Format: Project Material - Ms Word | 58 pages | Instant Download | Chapter 1-5 | SME/ENTREPRENEURSHIP DEPARTMENT
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5. THE CONTRIBUTIONS OF UNITED BANK FOR AFRICA TO THE DEVELOPMENT OF SMALL SCALE ENTERPRISES IN NIGERIA A CASE STUDY OF KADUNA STATE
» CHAPTER ONE INTRODUCTION 1.1 Background of the Study In both developed and developing countries, the small scale industry is seen as the vehicle for r...Continue Reading »Item Type & Format: Project Material - Ms Word | 52 pages | Instant Download | Chapter 1-5 | SME/ENTREPRENEURSHIP DEPARTMENT
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6. THE ROLE OF SMALL SCALE BUSINESS ON THE ECONOMIC DEVELOPMENT IN NIGERIA (A CASE STUDY OF ALABA INTERNATIONAL MARKETING)
» CHAPTER ONE INTRODUCTION 1.1 BACKGROUND OF THE STUDY The impact of Small Scale Enterprises to the developmentcannot be neglected in everyeconomy,moree...Continue Reading »Item Type & Format: Project Material - Ms Word | 79 pages | Instant Download | Chapter 1-5 | SME/ENTREPRENEURSHIP DEPARTMENT
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7. AN INVESTIGATION INTO THE CHALLENGES OF IFRS ADOPTION AND IMPLEMENTATION AMONGST SMALL AND MEDIUM SCALE ENTERPRISE OWNERS IN NIGERIA (A CASE STUDY OF ...
» CHAPTER ONE INTRODUCTION 1.1 BACKGROUND TO THE STUDY Small and medium scale enterprises are the engine that drives most economies of the world. Their ...Continue Reading »Item Type & Format: Project Material - Ms Word | 99 pages | Instant Download | Chapter 1-5 | SME/ENTREPRENEURSHIP DEPARTMENT
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8. THE EFFECT OF ENVIRONMENTAL FACTORS ON THE PERFORMANCE OF SMALL AND MEDIUM SCALE BUSINESSES IN NIGERIA
» CHAPTER ONE 1.1. BACKGROUND OF STUDY There is controversy that small and medium scale business in any country where they operate play important role i...Continue Reading »Item Type & Format: Project Material - Ms Word | 70 pages | Instant Download | Chapter 1-5 | SME/ENTREPRENEURSHIP DEPARTMENT
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9. THE IMPORTANCE OF INVENTORY MANAGEMENT IN SMALL SCALE ENTERPRISES
» CHAPTER ONE INTRODUCTION BACKGROUND OF THE STUDY Most business organisation that makes investment that will make them to achieve their corporate objec...Continue Reading »Item Type & Format: Project Material - Ms Word | 51 pages | Instant Download | Chapter 1-5 | SME/ENTREPRENEURSHIP DEPARTMENT
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10. THE EFFECT OF EMPLOYEE PARTICIPATION ON ORGANIZATIONAL PERFORMANCE
» CHAPTER ONE INTRODUCTION 1.1 BACKGROUND TO THE STUDY Participation of employee describes the involvement of employee in decision making which is conce...Continue Reading »Item Type & Format: Project Material - Ms Word | 72 pages | Instant Download | Chapter 1-5 | SME/ENTREPRENEURSHIP DEPARTMENT