The Relevance Of Account In The Growth And Survival Of Smes In Nigeria
Chapter One
Background Of Study
The small and medium scale assiduity has experience significance changes in terms of growth and survival in recent times as new business ideas and good account records are introduced into the sector although utmost of the small scale business( SSBs) aren’t registered as commercial bodies rather as a sole procurement, this made it easy for similar business to get registered with stress than other form of business enrollment . It’s apparent that SMEs has grown in number more than other forms of business and could be set up anywhere in Nigeria.
According to Boachie- Mensah and Marfo- Yiadom 2005) stated that in malignancy of their figures, about 60 of the SSBs fail within the first five times of operation. utmost SMEs fail because of their incapability access finance from utmost of the fiscal institutions since they warrant proper fiscal records as demand according to( William, 2008).
It has been attributed that the incapability of utmost small scale business to survive beyond the first many month of establishment and operation was due to lack acceptable backing.
According to( Amoako, 2013) stated that to come successful and be suitable to contribute meaningfully to the frugality of Nigeria, SMEs must be suitable to attract and secure finance by themselves.
Recent studies shows that larger enterprises will be suitable bring to themselves profitable and certain sophisticated quantitative operation ways that may not practicable for small and medium scale enterprises. Small scale business may be suitable to maintain near customer relation and better client relation than the bigger companies.
According to( Abdulrasheed, Khadijat and Oyebola, 2012) stated that the differences in operation ways may impact the deficiency in account system employed in generating fiscal information. utmost enterprises can employ different principles similar as different force ways, deprecation system, system of account for income levies and profit recognition procedures etc.
In recent times most business unit come complex and broader on compass, account evolved in response to the increased planning and control liabilities of operation.
According to( Abdulrasheed, Khadijat and Oyebola, 2012) stated that as government grows in size and come more centralized in nature, account was developed to meet the increased responsibility; business decision need to be supported by good and quality fiscal information which need to be applicable, stoner friendly and available in timely manner.
Statement Of Problem
The study came about due to the poor account system among the small scale business; poor account practice has limited the performance of SSBs in recent times, some the major problem faced by small business due to poor account or inapplicable account system includes their incapability to pierce fund and other fiscal benefits similar as loans from utmost of the fiscal institutions due to poor account records. The pivot behind the survival of small business( SSBs) is vacuity of capital, when utmost of the small business can no longer access finance also their operation becomes ineffective.
Aim And Objective Of Study
The main of the study is to examine the applicability of account in the growth and survival of SMEs in Nigeria. Other specific objects of the study are stated below as follows
To examine the relationship between account records and the survival of SMEs in Nigeria
To examine the effect of applicability of account on the performance of SMEs in Nigeria
To probe on other factors affecting the growth of SMEs in Nigeria
To examine the part of account in the growth and survival of small scale business
To proffer result to the over stated problems
Exploration Questions
The study came up with the following exploration questions in order to ascertain the end and objects of the study. The exploration questions are
Is there any relationship between account records and the survival of SMEs in Nigeria?
What’s the effect of applicability of account on the performance of SMEs in Nigeria?
What are the factors affecting the growth of SMEs in Nigeria?
What are the places of account in the growth and survival of small scale business?
Exploration Thesis
H0 There’s no significant relationship between account records and the survival of SMEs in Nigeria
H1 There’s significant relationship between account records and the survival of SMEs in Nigeria
Significance Of Study
The study will be of immense benefit to the small business possessors in Nigeria, the state and the civil government of Nigeria, the study will also profit the fiscal institutions in Nigeria and other experimenters that wishes to carryout exploration analogous to the below content as it’ll bandy the applicability of account in the growth and survival of SMEs in Nigeria
Compass Of Study
The study the applicability of account in the growth and survival of SMEs in Nigeria is limited the small scale enterprises, the fiscal institutions in Nigeria
Limitation Of Study
fiscal constraints fiscal constraints tend to stymie the speed of the experimenter in getting all the applicable accoutrements demanded for the exploration work; still the experimenter was suitable to get meaningful information from the available accoutrements for the purpose of the exploration work
Time constraints the experimenter being a pupil will be involved in other departmental conditioning like attending lectures, submission of assignment and donation of forums ; the exploration pupil still was suitable to meet up with the exploration work before the deadline of the design defense
Description Of Terms
Applicability is simply the noun form of the adjective” applicable,” which means” important to the matter at hand
References
Amoako Gi.K.( 2013) Accounting Practices of SMEs A Case Study of Kumasi Metropolis in Ghana. International Journal of Business and Management;Vol. 8,No. 24; 2013 ISSN 1833- 3850E-ISSN 1833- 8119 Published by Canadian Center of Science and Education AnyigboC.I.( 1999). “ Cost and directorial Account Decision Emphasis ”. Enugu Itugo2 Publication Limited. Aryeetey,E., Baah- Nuakoh,A., Duggleby,T., Hettige,H., & Steel,W.F.( 1994). force and Demand for Finance of Small- Scale Enterprises in Ghana. World Bank Discussion PaperNo. 251. Washington,D.C. The World Bank. http//dx.doi.org/10.1596/0-8213-2964-2. Ademola,G.O., SamuelO.J. & IfedolapoO.( 2012), The places of Record Keeping In the Survival and Growth of Small Scale Enterprises in Ijumu Local Government Area of Kogi State. Global Journal of Management and Business Research Volume 12 Issue 13 Version1.0 Year 2012.