FINANCIAL KNOWLEDGE, ATTITUDE AND MANAGEMENT PRACTICES AMONG SMALL BUSINESS ENTREPRENEURS IN NIGERIA
A good level of literacy in financial management has been viewed as crucial to enhancing the growth of small business. However, the level of knowledge and attitude of managers of these businesses remains unclear. This study determines the level of financial literacy among small business managers. Us...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
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Publishing House of Rzeszow University of Technology
2022-03-01
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| Series: | Modern Management Review |
| Subjects: | |
| Online Access: | https://journals.prz.edu.pl/mmr/article/view/350 |
| _version_ | 1819025601642627072 |
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| author | Banjo Ally HASSAN Nurudeen Afolabi SOFOLUWE |
| author_facet | Banjo Ally HASSAN Nurudeen Afolabi SOFOLUWE |
| author_sort | Banjo Ally HASSAN |
| collection | DOAJ |
| description | A good level of literacy in financial management has been viewed as crucial to enhancing the growth of small business. However, the level of knowledge and attitude of managers of these businesses remains unclear. This study determines the level of financial literacy among small business managers. Using a survey research design, the study covers small business enterprises in Ogun State, Nigeria. Primary data obtained through questionnaire were analysed. The results show that the overall level of attitude of small business owners to insurance and savings are low. Similarly, based on financial knowledge relating to financing sources and interest estimation are also low. The overall financial management practices among the owners are also not encouraging. The findings suggest a need for an improved level of financial literacy among business enterprises to sustain the growth of the sector. |
| first_indexed | 2024-12-21T05:13:17Z |
| format | Article |
| id | doaj.art-2cbc530ee3af432c93c192c640963a38 |
| institution | Directory Open Access Journal |
| issn | 2300-6366 2353-0758 |
| language | English |
| last_indexed | 2024-12-21T05:13:17Z |
| publishDate | 2022-03-01 |
| publisher | Publishing House of Rzeszow University of Technology |
| record_format | Article |
| series | Modern Management Review |
| spelling | doaj.art-2cbc530ee3af432c93c192c640963a382022-12-21T19:14:59ZengPublishing House of Rzeszow University of TechnologyModern Management Review2300-63662353-07582022-03-01271334110.7862/rz.2022.mmr.03350FINANCIAL KNOWLEDGE, ATTITUDE AND MANAGEMENT PRACTICES AMONG SMALL BUSINESS ENTREPRENEURS IN NIGERIABanjo Ally HASSAN0Nurudeen Afolabi SOFOLUWE1Olabisi Onabanjo UniversityOlabisi Onabanjo UniversityA good level of literacy in financial management has been viewed as crucial to enhancing the growth of small business. However, the level of knowledge and attitude of managers of these businesses remains unclear. This study determines the level of financial literacy among small business managers. Using a survey research design, the study covers small business enterprises in Ogun State, Nigeria. Primary data obtained through questionnaire were analysed. The results show that the overall level of attitude of small business owners to insurance and savings are low. Similarly, based on financial knowledge relating to financing sources and interest estimation are also low. The overall financial management practices among the owners are also not encouraging. The findings suggest a need for an improved level of financial literacy among business enterprises to sustain the growth of the sector.https://journals.prz.edu.pl/mmr/article/view/350managementfinancial literacyfinancial attitudefinancial knowledgesmall business |
| spellingShingle | Banjo Ally HASSAN Nurudeen Afolabi SOFOLUWE FINANCIAL KNOWLEDGE, ATTITUDE AND MANAGEMENT PRACTICES AMONG SMALL BUSINESS ENTREPRENEURS IN NIGERIA Modern Management Review management financial literacy financial attitude financial knowledge small business |
| title | FINANCIAL KNOWLEDGE, ATTITUDE AND MANAGEMENT PRACTICES AMONG SMALL BUSINESS ENTREPRENEURS IN NIGERIA |
| title_full | FINANCIAL KNOWLEDGE, ATTITUDE AND MANAGEMENT PRACTICES AMONG SMALL BUSINESS ENTREPRENEURS IN NIGERIA |
| title_fullStr | FINANCIAL KNOWLEDGE, ATTITUDE AND MANAGEMENT PRACTICES AMONG SMALL BUSINESS ENTREPRENEURS IN NIGERIA |
| title_full_unstemmed | FINANCIAL KNOWLEDGE, ATTITUDE AND MANAGEMENT PRACTICES AMONG SMALL BUSINESS ENTREPRENEURS IN NIGERIA |
| title_short | FINANCIAL KNOWLEDGE, ATTITUDE AND MANAGEMENT PRACTICES AMONG SMALL BUSINESS ENTREPRENEURS IN NIGERIA |
| title_sort | financial knowledge attitude and management practices among small business entrepreneurs in nigeria |
| topic | management financial literacy financial attitude financial knowledge small business |
| url | https://journals.prz.edu.pl/mmr/article/view/350 |
| work_keys_str_mv | AT banjoallyhassan financialknowledgeattitudeandmanagementpracticesamongsmallbusinessentrepreneursinnigeria AT nurudeenafolabisofoluwe financialknowledgeattitudeandmanagementpracticesamongsmallbusinessentrepreneursinnigeria |