Financial Management and Performance of Selected SMEs A Case of Kogi State – Nigeria

Abstract

The study took a critical look at financial management and the performance of Small and Medium Enterprises in Kogi State Nigeria. The population of the study consist of 115 selected SMEs located in Lokoja metropolis in Kogi State Nigeria. Questionnaires were distributed to the operators of the sampled SME’s. Multiple linear regression was adopted in analyzing the result. It was found that financing enhances the performance of small medium enterprises. The study also found that investment is significant to the performance of SME’s, in Nigeria. The study concluded that the components of financial management is significant to the performance of small and medium enterprises. The study recommended that SME’s should employ the services of portfolio managers that will help in investment decision making. Finally, there is need for SME’s to increase their financial performance through effective long term plan.