This study was carried out to determine the improvement strategies of SMEs operators for effective management of cash and accounts payable in Cross River State. Two research questions and two null hypotheses were formulated to guide the study. A descriptive survey research design was used in carrying out this study, with a total population of 437 operators of registered SMEs in cross river state, Nigeria. The sample size of two hundred and ten (210) Small and Medium Scale Enterprises operators was drawn for the study using Taro Yamen formulae. The sample which is made up of One hundred and fifty-six (156) experience operators of SMEs and fifty-four (54) fewer experience operators of SMEs in Cross River State were composed using multi-stage sampling. A questionnaire for the improvement strategies of SMEs operators of small and medium scale enterprises operators for effective management of cash and accounts payable (QISSMSE) was used. Mean was used to answer the research questions, while the hypotheses were tested using independent t-test statistics at 0.05 level of significance. The results indicated that the SMEs operators needed strategies of cash, accounts payable, and wealth of experience in cash, account payable management; SMEs operators did not differ significantly in their mean responses on their improvement strategies for effective management of cash accounts payable in Cross River State. Some recommendations were made to help facilitate the improvement strategies of SMEs operators.
Citation: Clement Afo Odey (2021) Improvement Strategies of SMEs Operators for Effective Management of Cash and Accounts Payable in Cross River State, Nigeria, International Journal of Small Business and Entrepreneurship Research, Vol.9, No.3, pp.6-21
Keywords: Cash and accounts payable, Improvement strategies, SMEs
