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The effect of financial management practices on the profitability of small and medium scale enterprises SMEs in Kwara state, Nigeria

 Department: Business Administration and Management  
 By: usericon khonegraph  

 Project ID: 2624
   Rating:  (3.3) votes: 6
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   Price:₦2000
Abstract
The study aims at assessing the problems and prospects of small and medium enterprises (SMEs) in Etio-sa LGA of Lagos state, Nigeria. The objectives of the study are to: identify and assess the key factors responsible for the relatively low performance and failure of the SMEs survival investigate the reasons why programs designed by government to boost manufacturing SMEs performance do not effectively achieve its role make appropriate recommendation towards alleviating the problems facing SMEs identify ways and means, which will establish and sustain the vibrancy for Nigerian SMEs. Primary sources of data collection where questionnaires were distributed to respondents which was used to test the hypothesis of the study using chi-square. The study revealed that policies implemented for SMEs have a positive relationship on the survival of SMEs in Nigeria and there is a prospect in SMEs in Nigeria. It is recommended that: the government should establish SME clusters in relevant sectors in areas that have comparative advantage for such sectors such as Auto Parts Cluster in Nnewi, Leather Products Cluster in Kano, Apple Processing Cluster in Plateau, Export Clusters for Cocoa in Ondo, Cashew Crushing Plant in Oghe, etc the government through the Central Bank of Nigeria should establish the much-awaited National Credit Guarantee Scheme for SMEs, which should guarantee at least 80 percent of loans needed by small and medium enterprises in Nigeria the government should tackle accelerated development and upgrade of rural/urban road and rail network, water and air transport system and other infrastructural facilities head-on and review tariff in favor of local manufacturers especially the SMEs....
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