Effects Of Financial Literacy On The Profitability Of Small Scale Enterprises In Abia State.
ABSTRACT
This study examines the effect
offinancial literacy on the profitability ofSMEs. To this end, data -was
obtainedfrom the questioners given to 132 respondents -within Abia state
ofNigerian. In relation to the study’s objectives which were set to determine
the effect ofBudgetary skill on the profitability ofSMEs, to ascertain the
effect ofBook keeping skill on the profitability of SMEs and to ascertain the
effect ofdebt management skill on the profitability ofSMEs It is concluded that
the budgetary skill and debt management skill has a significant effect on the
profitability of SMEs while, the book keeping skill has a strong positive
correlation with profitability ofSMEs but has no significant effect on the
profitability ofSMEs. In line with the findings ofthe study, it is recommended
that government and other corporate bodies should engage in more massfinancial
literacy program to further educate SMEs so as to gain more financial knowledge
on business operations to enhance their profitability which will in turn give
rise to the nation’s economic growth. Also, SMEs should keep proper records
oftheir financial transaction so as to enable them know their
exactfinancialposition.
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NZEKWE, C (2023). Effects Of Financial Literacy On The Profitability Of Small Scale Enterprises In Abia State.. Mouau.afribary.org: Retrieved Nov 28, 2024, from https://repository.mouau.edu.ng/work/view/effects-of-financial-literacy-on-the-profitability-of-small-scale-enterprises-in-abia-state-7-2
CHINENYE, NZEKWE. "Effects Of Financial Literacy On The Profitability Of Small Scale Enterprises In Abia State." Mouau.afribary.org. Mouau.afribary.org, 09 Oct. 2023, https://repository.mouau.edu.ng/work/view/effects-of-financial-literacy-on-the-profitability-of-small-scale-enterprises-in-abia-state-7-2. Accessed 28 Nov. 2024.
CHINENYE, NZEKWE. "Effects Of Financial Literacy On The Profitability Of Small Scale Enterprises In Abia State.". Mouau.afribary.org, Mouau.afribary.org, 09 Oct. 2023. Web. 28 Nov. 2024. < https://repository.mouau.edu.ng/work/view/effects-of-financial-literacy-on-the-profitability-of-small-scale-enterprises-in-abia-state-7-2 >.
CHINENYE, NZEKWE. "Effects Of Financial Literacy On The Profitability Of Small Scale Enterprises In Abia State." Mouau.afribary.org (2023). Accessed 28 Nov. 2024. https://repository.mouau.edu.ng/work/view/effects-of-financial-literacy-on-the-profitability-of-small-scale-enterprises-in-abia-state-7-2