The Financial Management Practice Role of Small to Medium Scale Enterprises From Developing Country and Impact on Global Economy

Abstract

The purpose of this qualitative multiple-case study was to explore the strategies that leaders in this industry. Ten top leaders from the manufacturing sector, trading services, education, oil and gas service companies, and financial services sector provided comments that addressed the research question: data analyzed by transcription, coding, categorizing, and analysis of participants’ responses using member checking. From the themes that emerged from the study, it noted that agility and doggedness, financial planning, information and communication technology, innovation, the approach would contribute to sustaining a small to medium enterprise beyond five years. The implications of positive social change included sustainability, employment for staff, improvement of living standards for both staff and owners, and company longevity. Other positive social changes from the study are the company’s contribution to tax revenue and the improved economy of households and individuals around the World.