Cash Management Practices of Small Business Owners in the Cape Coast Metropolitan Area of Ghana

John K Mbroh

Asian Economic and Financial Review, 2012, vol. 2, issue 1, 40-58

Abstract: The burden of cash management has become a topical issue in small businesses. To gain information on current practice, this paper examines survey evidence on cash management practices of two hundred and two small business owners (SBOs) in the Cape Coast Metropolitan Area of Ghana. It is evident in the study that majority of the SBOs studied either do not understand the attributes or the importance of cash management and as a result did not practice any formal system of the concept. The informal systems of cash management mainly practiced were found to be susceptible to cash fraud and other business growth difficulties. Some associated cash management problems have been highlighted and solutions proffered for ameliorating the situation. The paper further suggests that future research and policy directions consider gender differences and attributes as well as some industry peculiarities to the present rear growth in this important business unit.

Keywords: Small Business Owners (SBOs); Small Businesses (SBs); Cape Coast Metropolitan Area (CCMA); Cash Cycle and Cash Management (search for similar items in EconPapers)
Date: 2012
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