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| Financial Management and Entrepreneurial Development among Igbo traders in South East, Nigeria |
Onuzulike-Chukwuemeka Nkechi F, Orogbu Lilian O. (PhD), Onyeizgbe Chinedu U. (PhD) and Onyima Blessing (PhD)
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Abstract:
Financially sound and recognizing the importance of financial management has been a major challenge for some Igbo business owners in South East, Nigeria, this has increased the mortality rate of a particular Igbo business in the first few years of take-off, and created a renewed interest in quality research in financial management and business development in Nigeria. The study sought to examine the extent to which financial management improves entrepreneurial development. The study used FGD (focal Group Discussion and IDI (in-depth Interview) and thematic analysis was employed for data analysis. The findings revealed that financial discipline significantly enhances survival rate of Igbo traders business in the South East, Nigeria. The study recommends that business owners should enroll for training on basic book-keeping and accounting to develop the skills for proper record keeping and that good financial control offer more than just keeping tracks of daily sales and purchases.
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