FINANCIAL LITERACY AND THE GROWTH OF SMALL BUSINESSES IN ENUGU STATE, NIGERIA

OKARO, CHUKWUNWIKE ANTONIO (2026) FINANCIAL LITERACY AND THE GROWTH OF SMALL BUSINESSES IN ENUGU STATE, NIGERIA. Other thesis, GODFREY OKOYE UNIVERSITY, ENUGU.

[img] Text
OKARO_ANTONIO CORRECTED-3-1.pdf
Download (576kB)

Abstract

This study examined financial literacy and the growth of small businesses in Enugu State, Nigeria. The study focused on major dimensions of financial literacy, including budgeting practices, record-keeping, savings and investment practices, and credit management, and their influence on SME growth indicators such as profitability, revenue growth, and business sustainability. The study adopted a survey research design. Primary data were collected through structured questionnaires administered to SME owners and managers in Enugu State. A total of 396 questionnaires were distributed, out of which 382 were properly completed and returned, giving a response rate of 96.5%. Data collected were analyzed using descriptive statistics and mean score analysis with the aid of SPSS version 28. The findings revealed that financial literacy has a significant positive effect on the growth of small businesses in Enugu State. Specifically, the study found that budgeting practices, proper record-keeping, and savings and investment practices significantly influence SME performance and sustainability. All four null hypotheses were rejected at the 0.05 level of significance. The study concluded that financial literacy plays a critical role in improving business performance, operational efficiency, and long-term sustainability among SMEs in Enugu State. The study was concluded with recommendation that government agencies, financial institutions, and entrepreneurship support organizations should strengthen financial literacy training programmes and promote sound financial management practices among SME owners. Keywords: Financial Literacy, SME Growth, Budgeting, Record-Keeping, Savings and Investment, Enugu State, Nigeria

Item Type: Thesis (Other)
Subjects: H Social Sciences > H Social Sciences (General)
Divisions: Faculty of Management and Social Sciences
Depositing User: CHIBUEZE EZE
Date Deposited: 03 Aug 2026 11:38
Last Modified: 03 Aug 2026 11:38
URI: http://eprints.gouni.edu.ng/id/eprint/6143

Actions (login required)

View Item View Item
GOUNI Repository is powered by EPrints 3 which is developed by the School of Electronics and Computer Science at the University of Southampton. More information and software credits.