WORKING CAPITAL MANAGEMENT PRACTICES OF SMALL AND MEDIUM ENTERPRISES IN NIGERIA

1.5 SIGNIFICANCE OF THE STUDY

It is hoped that the result of this study concerning working capital management in the Uyo Local Government Area would contribute to current knowledge on growth of small scale enterprises at the National Board for small scale industries(NBSSI), the Business Advisory Centre (BAC) and other promotion agencies.

Secondly, the finding unearthed will be useful not only to small scale business in the UyoLocal Government Area but also to all small- scale business throughout the country. This would also help stakeholders in business to formulate and implement policies that will help them to effectively manage working capital. Determining ways management can effectively improve their working capital management.

To improve the book keeping and accountingTohelp p the SMEs gain access to finance and improve their financial management skills. Help SMEs

to adopt prudent managerial policies as well as professional expertise for efficient managerial works.

Finally, this study would provide useful information for designing strategies to influence the growth of small-scale enterprise. The information would also assist officials of the Ministry of Trade and Industries in formulating small-scale industries growth policies and programmes

which are responsive to entrepreneur susefultonon- loca governmental organizations playing vital roles in small-scale entrepreneurial skills and

development in Nigeria and the UyoLocal Government Area.