Record Keeping and Financial Performance of Small-Scale Enterprises in Uganda: A Case Study of Kabale Municipality.
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Date
2022
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Kabale University
Abstract
The study assessed the record-keeping and financial performance of small-scale enterprises in Uganda. The objectives of the study were; to evaluate record-keeping practices in small-scale enterprises in Kabale Municipality, to establish the financial performance indicators among small-scale enterprises in Kabale Municipality, and to establish the relationship between record-keeping and financial performance of small-scale enterprises in Kabale Municipality. The study used a descriptive research design and data was collected using interviews, documentary evidence, and questionnaires. The study findings on record-keeping practices in small-scale enterprises in Kabala Municipality were; records creation, control storage and access, retention and disposal procedures, and destruction and/or deletion. The study findings on financial performance indicators among small-scale enterprises were; business growth, operating cash flow, employment levels of workers, and stock turnover. The study findings on the relationship between record keeping and financial performance of small-scale enterprises were; that record keeping helps to manage their businesses, record keeping helps to improve the success of their businesses, record keeping are resources that could otherwise be used for investment, facilitating future growth of the business, record keeping is help in the attainment of proper performance in business as all business activities are shown in the records kept and record keeping helps to determine the survival of business. The study recommended that the owners of small-scale enterprises should ensure that they use better records management practices which can help them to easily retrieve the documents when needed for reference easily, there is a need for business owners to have enough storage space for expansion to facilitate proper records management so that they can be able to achieve their intended objectives and there should be proper financial recordings in records of the business enterprise to use them as source of reference for better accountability of the business progress.
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Citation
Tumwebaze, Editor (2022). Record Keeping and Financial Performance of Small-Scale Enterprises in Uganda: A Case Study of Kabale Municipality. Kabale: Kabale University.