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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 Stateof Nigeria. A well designed and implemented working capital management is expected to contributes positively to the creation of a firms 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 functioned 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 non(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 start up 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. THE EFFECT OF BANK RECAPITALIZATION ON THE PERFORMANCE OF SMALL AND MEDIUM SCALE ENTERPRISE IN NIGERIA
» CHAPTER ONE INTRODUCTION 1.1 BACKGROUND OF THE STUDY Small and Medium Enterprises (SMEs) play a vital role in the development of national economy. Due...Continue Reading »Item Type & Format: Project Material - Ms Word | 79 pages | Instant Download | Chapter 1-5 | SME/ENTREPRENEURSHIP DEPARTMENT
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2. 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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3. EFFECT OF RECORD KEEPING ON THE EFFICIENCY OF COOPERATIVE MANAGEMENT
» CHAPTER ONE INTRODUCITION 1.1 Background to the Study Small and Medium Enterprises (hence forth, SMEs) have significant role in the economic developme...Continue Reading »Item Type & Format: Project Material - Ms Word | 71 pages | Instant Download | Chapter 1-5 | SME/ENTREPRENEURSHIP DEPARTMENT
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4. ASSESSING THE CHALLENGES FACING SMALL SCALE HOTELS IN NIGERIA (A CASE STUDY OF TEVOLI HOTELS UYO)
» CHAPTER ONE INTODUCTION Background of the study The establishment of hotels and recreational centers in Nigeria both small scale and large scale has u...Continue Reading »Item Type & Format: Project Material - Ms Word | 68 pages | Instant Download | Chapter 1-5 | SME/ENTREPRENEURSHIP DEPARTMENT
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5. ENTREPRENEURIAL EDUCATION AS A TOOL FOR REDUCING UNEMPLOYMENT IN NIGERIA
» CHAPTER ONE INTRODUCTION 1.1 BACKGROUND TO THE STUDY Entrepreneurial education is the incorporation into the student syllabus steps involved in starti...Continue Reading »Item Type & Format: Project Material - Ms Word | 69 pages | Instant Download | Chapter 1-5 | SME/ENTREPRENEURSHIP DEPARTMENT
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6. 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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7. THE IMPACT OF MICROFINANCE BANK ON THE PERFORMANCE OF SMALL SCALE BUSINESSES IN DELTA STATE
» CHAPTER ONE INTRODUCTION 1.1 AN OVERVIEW OF THE STUDY OBJECTIVES OF THE STUDY The general objective of this study is to examine the impact of micro fi...Continue Reading »Item Type & Format: Project Material - Ms Word | 76 pages | Instant Download | Chapter 1-5 | SME/ENTREPRENEURSHIP DEPARTMENT
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8. EXPLORING THE DETERMINANTS OF ENTREPRENEUR AMONG GRADUATES IN NIGERIA
» CHAPTER ONE INTRODUCTION 1.1 BACKGROUND OF THE STUDY In recent years, entrepreneurship education has been developing steadily but unevenly in most cou...Continue Reading »Item Type & Format: Project Material - Ms Word | 63 pages | Instant Download | Chapter 1-5 | SME/ENTREPRENEURSHIP DEPARTMENT
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9. 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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10. THE ROLE OF SMALL SCALE INDUSTRIES ON THE ECONOMIC DEVELOPMENT IN NIGERIA (A CASE STUDY OF HARDIS AND DROMEDAS IN EMENE, ENUGU STATE)
» CHAPTER ONE INTRODUCTION 1.1 BACKGROUND OF THE STUDY Experience has show that development countries in the world like USA, Canada, Germany, Spain and ...Continue Reading »Item Type & Format: Project Material - Ms Word | 71 pages | Instant Download | Chapter 1-5 | SME/ENTREPRENEURSHIP DEPARTMENT