Assessing the Influence of Financial Management Practices on Selected Small and Medium Scale Enterprises in Delta State Nigeria

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This study was carried out to assess the influence of financial management practices on organizational performance of selected small and medium scale enterprises in Delta State, Nigeria. The researchers used survey research design for the study and data were gathered through the use of structured questionnaire. The study revealed that there is positive and significant relationship between financial management practices on the profitability of small and medium scale enterprises in Delta State. Based on these findings the study concluded that financial management practices has significant relationship on the profitability and employees satisfaction of small and medium scale enterprises in Delta State, Nigeria. Based on the findings and conclusion of the study, the study therefore recommends that small and medium scale enterprises should implement risk management of strengthening the firm’s management structure, and as a result, its profitability. Small and medium scale business enterprises in Delta State which have not been using financial management practices should adopt it in their operations. This will enhance the business overall profitability. Small and medium business enterprises should make it a priority to work towards the objective of building strong fundamentals that may have a positive effect on their businesses and this will enhance employees satisfaction. Small and medium scale business enterprises should focus on investment that generate positive and net present value, this will add value to an investor’s fund.