Financial Management as a Tool for the Growth of Small Business Enterprises in Lagos State: An Empirical Approach

Olajide Olubayo Thomas, Abayomi Adeoye, Tijani A. Adekunle and Elegunde Ayobami Folarin
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Olajide Olubayo Thomas: Department of Business Administration and Management Technology, Lagos State University, Ojo, Lagos, Nigeria.
Tijani A. Adekunle: Department of Business Administration and Management Technology, Lagos State University, Ojo, Lagos, Nigeria.
Elegunde Ayobami Folarin: Department of Business Administration and Management Technology, Lagos State University, Ojo, Lagos, Nigeria.

Indian Journal of Commerce and Management Studies, 2015, vol. 6, issue 1, 12-19

Abstract: This study seeks to investigate the role of financial management on the growth of Small Business Enterprise in Lagos state in Nigeria. The growth of Small Business has been hampered by lack of finance through misappropriation of funds which is affecting the capital base, market share number of employees, and productivity. The study revealed that there is a relationship between financial management and growth of SBE. The research also revealed that having financial management knowledge does not guarantee the achievement of SBE goals and objectives. The study therefore recommended that training centre should be established by government for entrepreneurs. Equally, employment of financial management experts should be encouraged amidst Small Business owners.

Keywords: Financial Management; Growth; Small Business Enterprise; Entrepreneurs; Lagos State; Nigeria. (search for similar items in EconPapers)
Date: 2015
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