Effects of Budget Planning on Financial Performance of Selected SMEs in Eldoret Town, Kenya Moderated by Digital Finance Services

Jepleting Gladys, Dr. John Tarus and Dr. Zachariah Shitote
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Jepleting Gladys: Department of Business Management, School of Business, Economics and Management Sciences, University of Eldoret, Kenya
Dr. John Tarus: Lecturer, Department of Accounting and Finance, School of Business and Economics, Moi University, Kenya
Dr. Zachariah Shitote: Lecturer, Department of Business Management, School of Business, Economics and Management Sciences, University of Eldoret, Kenya

International Journal of Research and Innovation in Social Science, 2024, vol. 8, issue 11, 716-729

Abstract: The study intention was to investigate effects of budget planning on financial performance of selected SMEs in Eldoret town, Kenya, moderated by digital financial services. Specific objectives of the study were to examine the influence of budget planning on financial performance and effect of digital financial services on financial performance. The study was designed to assess the moderating role of digital financial services on the relationship between budget planning and financial performance of selected SMEs. The research was guided by the Priority-Based Budgeting Theory and Resource Based Theory. The study utilized explanatory research design and descriptive research design. Simple random sampling techniques in collecting data from 302 selected SMEs using structured questionnaires. Cronbach alpha was applied to test reliability while Factor analysis was applied to test validity. Using SPSS version 23 hierarchical regression model was employed in data analysis and testing of the hypotheses. The results reveal that digital finance services had significantly positive relationship between budget planning and financial performance.

Date: 2024
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