Cash Management and Financial Performance of Business Firms in Northern Uganda a Case of Lira District
Loading...
Date
2019-08
Journal Title
Journal ISSN
Volume Title
Publisher
The International Journal of Business Management and Technology
Abstract
The study sought to establish the effect of cash management on financial performance of business entities in Lira district.
A cross sectional study design was adopted and data was collected by use of structured and closed ended questionnaire. Business
owners who took part in the study confirmed high abilities in managing cash receivable, holding inventories and properly generating
sufficient cash for meeting immediate obligations. However, the study found that the aforementioned practices were not sustainable
with time due to incompetence in forecasting receipts and payments. This led to a conclusion that cash management has an
insignificant effect on financial performance. The study recommended that Business associations like Uganda Chamber of
Commerce, Uganda Manufacturers Association, in addition to Ministry of Trade and Commerce should consider providing
trainings on cash management to existing and upcoming entrepreneurs to support them in developing cash management and other
necessary business skills. There is also need for business owners to consider hiring business experts who can use different statistical
models to forecast business performance
Description
Keywords
Citation
Eton, M., Gilbert, U., Fabian, M., Benard, P. O., & Dennis, O. (2019). Cash management and financial performance of business firms in Northern Uganda a Case of Lira District.