Impact of Financial Training on Financial Management in Small Businesses in Morocco and Their Contribution to Socioeconomic Value

Wafaa El Gouz () and Azzeddine Allioui ()
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Wafaa El Gouz: Mohamed V University, Morocco
Azzeddine Allioui: ESCA Ecole de Management, Morocco

RAIS Conference Proceedings 2022-2024 from Research Association for Interdisciplinary Studies

Abstract: The purpose of this study is to analyze the transformational influence that financial training has on the financial management practices of small enterprises in Morocco and to investigate the subsequent socioeconomic contributions that will result from this training. An all-encompassing research framework that incorporates both quantitative and qualitative research approaches is used in this study, which is conducted within the setting of a rapidly expanding small company sector that is experiencing financial difficulties. Research methods such as questionnaires, interviews, and case studies are applied in order to evaluate the effectiveness of financial training programs in providing small businesses with improved capacities to make responsible financial decisions. The results are intended to provide light on the actual effects of financial training, which include improvements in financial measures, risk management, and investment choices inside the organizations that were targeted. The study investigates not only the consequences on a micro level, but also the implications on a macro level that strengthened financial management will have on the socioeconomic landscape of Morocco as a whole. This research makes a contribution to the current body of knowledge by shedding light on the complex interaction that exists between financial management, financial training, and the generation of socioeconomic value. It is anticipated that the findings will provide policymakers, educators, and business leaders with information on effective techniques to promote financial resilience within small firms, hence creating sustained contributions to the socioeconomic growth of Morocco.

Keywords: financial management; financial training; risk management; small businesses (search for similar items in EconPapers)
Pages: 9 pages
Date: 2024-07
New Economics Papers: this item is included in nep-ara, nep-cfn, nep-ent and nep-fle
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Published in Proceedings of the 36th International RAIS Conference on Social Sciences and Humanities, June 6-7, 2024, pages 15-23

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Persistent link: https://EconPapers.repec.org/RePEc:smo:raiswp:0387

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