Financial Literacy, Cash Management and Business Growth in Kampala City Council Authority, Uganda
The study sought to establish the relationship between financial literacy, cash management and business growth in Kampala city council authority. The study design used was descriptive and correlation in nature. The study revealed a moderately high level of financial literacy, a moderate level of cas...
Saved in:
| Main Authors: | , , , , |
|---|---|
| Other Authors: | |
| Format: | Article |
| Published: |
Economics, Commerce and Trade Management: An International Journal
2019
|
| Subjects: | |
| Online Access: | http://hdl.handle.net/20.500.12493/125 |
| Tags: |
Add Tag
No Tags, Be the first to tag this record!
|
| _version_ | 1800403078190465024 |
|---|---|
| author | Eton, Marus Miria Nyangoma Fabian, Mwosi Benard, Patrick Ogwel Barige Godfrey |
| author2 | Godfrey, Barige |
| author_facet | Godfrey, Barige Eton, Marus Miria Nyangoma Fabian, Mwosi Benard, Patrick Ogwel Barige Godfrey |
| author_sort | Eton, Marus |
| collection | KAB-DR |
| description | The study sought to establish the relationship between financial literacy, cash management and business growth in Kampala city council authority. The study design used was descriptive and correlation in nature. The study revealed a moderately high level of financial literacy, a moderate level of cash management and a moderately high level of business growth among the businesses investigated. Financial literacy confirmed in adequate knowledge on how to expand and capitalize money in addition to warranting a portion of their regular income saved in assets. It was noted that most businesses grow out of paying their debtors promptly, using loaned capital efficiently and perhaps cash planning practices. In the long run, most businesses end up into bankruptcy associated to using borrowed funds for improving standards of living. It is a common practice in Uganda for one to emerge as a promising investor, live a posh life and registered in bankruptcy within less than a decade of his business career. The study recommended that the Private Sector Uganda, Uganda Manufacturers’ Association, Uganda Chamber of Commerce; and other trade organizations should include training business men and women around the country on sound financial management. There is need to further sensitize the public and business owners in particular on the risks associated with borrowed capital. Business owners should further avoid running for credit because it is cheap and available. Business owners should always align their borrowed capital with business objectives lest they divert funds intended for business growth into improving their standards of living by spending lavishly. |
| format | Article |
| id | oai:idr.kab.ac.ug:20.500.12493-125 |
| institution | KAB-DR |
| publishDate | 2019 |
| publisher | Economics, Commerce and Trade Management: An International Journal |
| record_format | dspace |
| spelling | oai:idr.kab.ac.ug:20.500.12493-1252024-01-17T04:47:24Z Financial Literacy, Cash Management and Business Growth in Kampala City Council Authority, Uganda Eton, Marus Miria Nyangoma Fabian, Mwosi Benard, Patrick Ogwel Barige Godfrey Godfrey, Barige Financial Literacy, Cash Management, Business Growth The study sought to establish the relationship between financial literacy, cash management and business growth in Kampala city council authority. The study design used was descriptive and correlation in nature. The study revealed a moderately high level of financial literacy, a moderate level of cash management and a moderately high level of business growth among the businesses investigated. Financial literacy confirmed in adequate knowledge on how to expand and capitalize money in addition to warranting a portion of their regular income saved in assets. It was noted that most businesses grow out of paying their debtors promptly, using loaned capital efficiently and perhaps cash planning practices. In the long run, most businesses end up into bankruptcy associated to using borrowed funds for improving standards of living. It is a common practice in Uganda for one to emerge as a promising investor, live a posh life and registered in bankruptcy within less than a decade of his business career. The study recommended that the Private Sector Uganda, Uganda Manufacturers’ Association, Uganda Chamber of Commerce; and other trade organizations should include training business men and women around the country on sound financial management. There is need to further sensitize the public and business owners in particular on the risks associated with borrowed capital. Business owners should further avoid running for credit because it is cheap and available. Business owners should always align their borrowed capital with business objectives lest they divert funds intended for business growth into improving their standards of living by spending lavishly. Kabale University 2019-02-19T12:31:56Z 2019-02-19T12:31:56Z 2018 Article http://hdl.handle.net/20.500.12493/125 application/pdf Economics, Commerce and Trade Management: An International Journal |
| spellingShingle | Financial Literacy, Cash Management, Business Growth Eton, Marus Miria Nyangoma Fabian, Mwosi Benard, Patrick Ogwel Barige Godfrey Financial Literacy, Cash Management and Business Growth in Kampala City Council Authority, Uganda |
| title | Financial Literacy, Cash Management and Business Growth in Kampala City Council Authority, Uganda |
| title_full | Financial Literacy, Cash Management and Business Growth in Kampala City Council Authority, Uganda |
| title_fullStr | Financial Literacy, Cash Management and Business Growth in Kampala City Council Authority, Uganda |
| title_full_unstemmed | Financial Literacy, Cash Management and Business Growth in Kampala City Council Authority, Uganda |
| title_short | Financial Literacy, Cash Management and Business Growth in Kampala City Council Authority, Uganda |
| title_sort | financial literacy cash management and business growth in kampala city council authority uganda |
| topic | Financial Literacy, Cash Management, Business Growth |
| url | http://hdl.handle.net/20.500.12493/125 |
| work_keys_str_mv | AT etonmarus financialliteracycashmanagementandbusinessgrowthinkampalacitycouncilauthorityuganda AT mirianyangoma financialliteracycashmanagementandbusinessgrowthinkampalacitycouncilauthorityuganda AT fabianmwosi financialliteracycashmanagementandbusinessgrowthinkampalacitycouncilauthorityuganda AT benardpatrickogwel financialliteracycashmanagementandbusinessgrowthinkampalacitycouncilauthorityuganda AT barigegodfrey financialliteracycashmanagementandbusinessgrowthinkampalacitycouncilauthorityuganda |