scholarly journals Liquidity Management Practices of Small and Medium-Scale Enterprises in Lagos State, Nigeria

2021 ◽  
Vol 4 (3) ◽  
pp. 30-38
Author(s):  
Abiola O.J. ◽  
Oluwatuyi F. ◽  
Mustapha B.H. ◽  
Funmilayo B.
Keyword(s):  
Management Practices ◽  
Small And Medium Enterprises ◽  
High Volume ◽  
Primary Data ◽  
Liquidity Management ◽  
Bank Account ◽  
Medium Scale ◽  
Questionnaire Administration ◽  
Lagos State ◽  
Medium Enterprises

The study investigated the extent of liquidity management practices among Small and Medium-Scale Enterprises in Lagos State, Nigeria. The study made use of primary data and the population of the study comprised of 4,460 registered Small and Medium-Scale Enterprises in Lagos State based on the Nigerian government contacts database (2015). Using Taro Yamane’s formula, a sample size of 367 Small and Medium-Scale Enterprises was computed for questionnaire administration. In each Small and Medium Enterprises that was randomly sampled, questionnaires were administered to the respondents; Owner, Supervisor or Financial Manager who provided the necessary information on liquidity management practices of their firms. Data collected from the study were analysed with the use of appropriate descriptive statistics. The result of the study revealed that SMEs engaged in liquidity management practices such as cash budget (97%), bank account operation (77%), investment in current assets (67%), and making current assets available for immediate conversion into cash (71%). Use of mechanisms in the realisation of sundry debtors (64%) and collection of debts due (64%). The study, therefore, recommended that regulatory authorities should put in place an appropriate policy with compliance measures to check high volume cash transactions and cash hoarding prevalent in the economy.

scholarly journals Impact of Financial Management Practices on SMEs Profitability with Moderating Role of Agency Cost

2017 ◽  
Vol 9 (1) ◽  
pp. 23-30 ◽  
Author(s):  
Saqib Muneer ◽  
Rao Abrar Ahmad ◽  
Azhar Ali
Keyword(s):  
Financial Management ◽  
Structural Equation ◽  
Management Practices ◽  
Small And Medium Enterprises ◽  
Agency Cost ◽  
Partial Least Square ◽  
Least Square ◽  
Primary Data ◽  
Medium Enterprises ◽  
The Impact

The importance of Small and medium enterprises (SMEs) towards economic development and growth is considerable. Some SMEs are facing difficulties to their development due to the lack of financial resources and management experience. The objective of this study is to check the relationships of financial management practices on profitability of small and medium enterprises and also to check the impact of agency cost on this relationship. This study consists of data analysis of two hundred SMEs from Faisalabad Pakistan. The study used primary data predominantly. SPSS 23 is used for descriptive analysis and Structural Equation Model (SEM) through Partial Least Square (PLS) 3 for hypothesis testing. The findings of this study indicate the presence of positive relationship between financial management practices and SMEs profitability but agency cost as a moderator has no effect on this relationship. The study strongly recommends higher adherence to financial management practices. Policy makers, developments partners, owners, and managers of SMEs may use these findings for sustainability of their business in Pakistan.

scholarly journals Survival Strategies and Sustainability of Small and Medium Enterprises in the Oshodi-Isolo Local Government Area of Lagos State

2016 ◽  
Vol 4 (1) ◽  
pp. 103-118 ◽  
Author(s):  
Nkiruka Ifekwem ◽  
Ogundeinde Adedamola
Keyword(s):  
Local Government ◽  
Small Businesses ◽  
Management Practices ◽  
Small And Medium Enterprises ◽  
Political Stability ◽  
Local Government Area ◽  
Survival Strategies ◽  
Growth Strategies ◽  
Lagos State ◽  
Medium Enterprises

Abstract Small and medium enterprises (SMEs) play an essential role in the sustainable development of countries. They help in employment generation, industrial production increase, and export, social enrichment as well as political stability. This study investigates the survival strategies and sustainability of SMEs using selected small businesses in the Oshodi-Isolo Local Government Area, Lagos State. It examines the type of growth strategies that SMEs adopt, ascertains what influences their survival strategies as well as the challenges that hinder their growth. Fifty (50) SMEs were randomly sampled. Their owners and managers were interviewed using questionnaires. Data collected were analysed using descriptive statistics and Pearson product–moment correlation coefficient statistics. Our findings reveal that there is a statistically significant relationship between survival strategies and SMEs’ sustainability. The major implication of the findings is that maintaining small but committed and motivated employees is critical in guaranteeing the survival of the SMEs in a volatile economy. The study recommends that there be a need for orientation and educational programmes to change the mindset of business owners to enable them to graduate from sole atomistic proprietor devoid of modern scientific business practice and effective succession to corporate status with an apparatus of modern business management practices and corporate vision. Finally, the study further suggests some imperatives for policy makers concerned with promoting small businesses’ growth and sustainability in the Oshodi-Isolo Local Government Area of Lagos State.

scholarly journals Determinants of use of solar energy as an alternative means of energy by small and medium enterprises in Lagos State, Nigeria

2021 ◽  
Vol 2 (1) ◽  
Author(s):  
Sylvester Anani Anaba ◽  
Olusanya Elisa Olubusoye
Keyword(s):  
Solar Energy ◽  
Small And Medium Enterprises ◽  
Policy Support ◽  
Primary Data ◽  
Electricity Distribution ◽  
Power Outages ◽  
Organizational Processes ◽  
Lagos State ◽  
Alternative Means ◽  
Medium Enterprises

AbstractFrequent power outages and general electricity problems from the national grid in Nigeria have significantly increased in the last 5 years, and these are part of the reasons why many Small and Medium Enterprises in Lagos State, Nigeria find it difficult to survive and some have already folded up. Consequently, some Small and Medium Enterprises have relocated to other places, whilst others have resorted to the use of some alternative means of energy as backup facilities (inclusive of generating sets, and solar energy) to reduce the negative effect of frequent power outages from the national grid. Based on the foregoing, the aim of the study is to investigate whether Small and Medium Enterprises in Lagos State, Nigeria have considered solar energy as an alternative means of energy, find out whether Small and Medium Enterprises in Lagos State, Nigeria prefer solar energy to electricity from the national grid, and to also identify the determinants of use of solar energy as an alternative means of energy by Small and Medium Enterprises in Lagos State, Nigeria. The study covered selected Small and Medium Enterprises in Lagos State, Nigeria and primary data were generated from direct distribution of questionnaires to six hundred (600) qualified Small and Medium Enterprises in Lagos State. Using Descriptive Statistics and Binary Logistic Regression Model to analyze data generated from the questionnaires, the study affirmed that general cost of electricity from the national grid, poor organizational processes and procedures of Electricity Distribution Companies as well as policy support for solar energy by the government were major determinants of use of solar energy as an alternative means of power by Small and Medium Enterprises in Lagos State, Nigeria. However, the findings from the study indicate that poor customer services of Electricity Distribution Companies, inadequate access to electricity facilities of Electricity Distribution Companies, and frequent power outages were not major determinants of use of solar energy as an alternative means of energy by Small and Medium Enterprises in Lagos State, Nigeria as at the time of the research. Consequently, this study recommends that Electricity Distribution Companies should improve their organizational processes and procedures. The study also recommends that cost of maintenance and replacement of major facilities like defective transformers should not be transferred to Small and Medium Enterprises (inclusive of other clients).

scholarly journals Competitive Strategic Management Practices and Performance of Small and Medium Enterprises in Kenya: A Case of Mombasa County

2019 ◽  
Vol 3 (VI) ◽  
pp. 193-215
Author(s):  
Rukia Ali Mohammed ◽  
James Rugami
Keyword(s):  
Strategic Management ◽  
Management Practices ◽  
Small And Medium Enterprises ◽  
Management Practice ◽  
Central Business District ◽  
Business Environment ◽  
Business Strategies ◽  
Primary Data ◽  
Business District ◽  
Medium Enterprises

The competitive business environment has forced organizations to engage in complex business decisions which require competitive strategic management. According to Haines (2016), Competitive Strategic management practices involves the formulation and implementation of the major goals and initiatives taken by a company's top management on behalf of its owners, based on consideration of resources and an assessment of the internal and external environments in which the organization competes. Competitive Strategic management practice is an important practice as it gives a strong influence towards firms’ success. Due to the ever changing business environment, small and medium enterprises struggle to operate, manage and improve their businesses efficiently in order to deliver quality products and services consistently and on time. This is because in most enterprises the application of business strategies requires a host of expensive and time consuming changes both in the organizational culture and structure hence many owner / managers have had to overlook for some necessary and critical business strategies. The study will be guided by four objectives; to establish the effect of Cost leadership strategy on the performance of small and medium enterprises in Mombasa central business district, to determine the effect of Differentiation strategy on the performance of small and medium enterprises in Mombasa central business district, to establish the effect of focus strategy on the performance of small and medium enterprises in Mombasa central business district and to determine the effect of product innovation on the performance of small and medium enterprises in Mombasa central business district. The study will be anchored on three theories namely; Resource-based theory, game theory and Porter Generic Strategies Theory. The study will adopt both cross-sectional research design and descriptive survey design. This study targets 19,708 small and medium enterprises located at the Central Business District of Mombasa City County. A sample size of 202 small and medium enterprises will be selected for the study where the units of the study will be business owners/managers. Structured questionnaires will be used to collect primary data. The data collected will be analyzed using SPSS and the specific statistics will be descriptive and inferential statistics. The results will be displayed on charts, tables and graphs. Multivariate regression model and path analysis technique will be used to show the relationship between the independent variables to the dependent variable.

scholarly journals COVID-19 PANDEMIC CHALLENGES TO MICRO, SMALL AND MEDIUM ENTERPRISES IN NIGERIA: STRATEGIC OPTIONS FOR SURVIVAL

2021 ◽  
Vol 19 (34) ◽  
Author(s):  
Waidi Adeniyi Akingbade
Keyword(s):  
Supply Chain ◽  
Environmental Changes ◽  
Small And Medium Enterprises ◽  
Sampling Technique ◽  
Primary Data ◽  
Business World ◽  
Lagos State ◽  
Strategic Options ◽  
The Government ◽  
Medium Enterprises

COVID-19 Pandemic posed a great threat and challenges to the business world, especially the Micro, Small and Medium Enterprises (MSMEs). Many of these enterprises suffered a great downturn in business activities and reduction in profit volume. Many of them were forced to close down while others survived on the margin. The government and other stakeholders in the MSMEs have provided solutions to their problems but most of them have not really yielded the desired result. This paper investigates the challenges that MSMEs in Lagos State encountered as well as the strategic options for their survival during the Covid-19 Pandemic era. A survey research design was adopted and primary data were collected with the help of questionnaire. The population of study was 3,224,324 registered MSMEs in Lagos State, while the sample size of 400 was determined with Yamane (1967) formulae. A simple random sampling technique has been employed to administer 400 copies of questionnaire out of which 297 were properly filled and returned. The findings from the regression analysis and the descriptive statistics revealed that there is no significant effect of MSMEs Covid-19 challenges (such as: decline in productivity, business closure, supply chain breakdown, low customer demand, reduction in profit volume, self-isolation, reduced opportunities to meet new clients) on business survival. Also, it was revealed that most of the respondents adopted cutting expenses as a strategic option for the survival of their businesses. However, the study concluded that Covid-19 Pandemic is a major threat to MSMEs survival and growth. It was recommended that MSMEs should embark on cutting expenses in order to survive Covid-19 and further, they should embrace crisis management response, finance and liquidity, operation and supply chain, determine and activate the business continuity plan, monitor the implementation to enhance their survival and readjust their response approach towards environmental changes.

The Impact of Financial Literacy on Financial Preparedness for Retirement in the Small and Medium Enterprises Sector in Uganda

2020 ◽  
Vol 9 (3) ◽  
pp. 26-41
Author(s):  
Colin Agabalinda ◽  
Alain Vilard Ndi Isoh
Keyword(s):  
Financial Literacy ◽  
Small And Medium Enterprises ◽  
Group Analysis ◽  
Moderating Effect ◽  
Primary Data ◽  
Retirement Preparedness ◽  
Medium Enterprises ◽  
The Impact ◽  
The Relationship ◽  
Effect Of Age

The study investigated the direct effects of financial literacy (knowledge, skills, and attitudes) on financial preparedness for retirement and the moderating effect of age among the small and medium enterprises in Uganda. Primary data was collected from a sample of n = 380 selected from the SME workforce. Descriptive analysis was run on SPSS, while validity and reliability of the measurement items yielded satisfactory composite reliability scores and average variance explained (AVE) scores for all items. Structural equation modelling (SEM) was used to test the hypotheses and multi-group analysis conducted to test for the moderating effect of age on the relationship between financial literacy and retirement preparedness. The results revealed that knowledge and skills were significant predictors of retirement preparedness. However, ‘attitude' was not a significant predictor, and age had no moderating effect on the relationship between the study variables. These findings present practical implications for policymakers and financial educators in a developing country context.

scholarly journals Analisis Dampak Tax Morale Terhadap Kepatuhan Pajak UMKM: Studi Kasus Kota Semarang

2018 ◽  
Vol 1 (1) ◽  
pp. 14
Author(s):  
Muslimah Mahmudah ◽  
Deden Dinar Iskandar
Keyword(s):  
Small And Medium Enterprises ◽  
Tax Compliance ◽  
Binary Logistic Regression ◽  
Primary Data ◽  
Binary Logistic Regression Analysis ◽  
Ethical Business ◽  
Tax Morale ◽  
Business Size ◽  
Medium Enterprises ◽  
The Impact

This study aims to analyze the impact of tax morale on Micro, Small, and Medium Enterprises (MSMEs) tax complianceSemarang City as the case study. This study uses primary data generated from 117 samples of MSMEs in Semarang. Data analysis is performed  using binary logistic regression analysis. The results showed that environmental, institutional, ethical, business, and business size variables significantly influence MSMEs tax compliance. On the other hand, variables whose effect on tax compliance is not statistically significant include happiness, religiosity, gender, age, education, and marital status.

scholarly journals Firm Performance: Does Mastering a Foreign Language Matter?

10.29007/dkzg ◽  
2018 ◽  
Author(s):  
Remedios Hernández Linares ◽  
María José Naranjo ◽  
Héctor Sánchez Santamaría ◽  
Mercedes Rico García ◽  
Laura Fielden Burns ◽  
...  
Keyword(s):  
Foreign Language ◽  
Organizational Performance ◽  
Small And Medium Enterprises ◽  
Language Education ◽  
Foreign Language Education ◽  
Primary Data ◽  
First Semester ◽  
Improved Performance ◽  
Medium Enterprises ◽  
The Impact

Over the last twenty years the impact of language in international and multinational companies has attracted significant scholarly attention, which is reflected in the growing literature. However, and despite the fact that small and medium enterprises (SMEs) constitute the engine of numerous economies worldwide, the impact of foreign languages on SMEs’ performance remains understudied. This is especially intricate because, considering that SMEs often have fewer resources, the commitment of such resources to language acquisition and foreign language education can only be justified in the case of improved performance. To address this gap, the objective of our research aims to get insights whether and how the domain of a foreign language (mainly English) affects SMEs’ performance. For this purpose, we perform an exploratory empirical study based on data collected through a telephone questionnaire during the first semester of 2017. A group of private Spanish SMEs constitutes our sample. Our work presents the results of the statistical analysis of these primary data, and contributes to a more nuanced perspective on language utility for organizational performance.

scholarly journals Total quality management practices in Indonesian local SME: Understanding the employees Role

2019 ◽  
Vol 10 (2) ◽  
pp. 129-136
Author(s):  
Safitri Lamsah ◽  
Zakky Zamrudi
Keyword(s):  
Quality Management ◽  
Total Quality Management ◽  
Organizational Performance ◽  
Management Practices ◽  
Small And Medium Enterprises ◽  
Employee Performance ◽  
Total Quality ◽  
Total Respondent ◽  
Two Factors ◽  
Medium Enterprises

Abstract Understanding the schemes of Small and Medium Enterprises (SME’s) managerial capability is becoming important aspects today. Implementing proper strategies and internal policy may create a significant change in SME’s performance. Total Quality Management (TQM) has been being a one of specific measurement on organizational performance. This research was proposed to understand the factor that can affect the TQM’s performance in SME’s by identifying the two factors that can change it. Based on the recent studies, the developed model was employed PLSSEM to analyze the data by total respondent 95 respondent consist of owner and manager. The sample was taken in the area of Sasirangan SME’s in Banjarmasin, Kalimantan Selatan province, Indonesia. Sasirangan is a local fabric developed by its ancestor. The population of Sasirangan SME’s was huge in amount. The results of these studies indicate that both motivation and employee performance can increase the TQM in the SME’s which one of them has a more significant effect. The complete description of finding in this research will be discussed in this research.

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