INVESTMENT AND BUDGETING IN SMALL AND MEDIUM SCALE BUSINESSES IN OSUN STATE, NIGERIA
Abstract
This study examines investment and budgeting practices in small and medium scale enterprises (SMEs) in Osun State, Nigeria. SMEs play a vital role in economic development through job creation and wealth generation. The study adopts a survey research design using primary data collected from SME owners and managers. Findings reveal that effective budgeting and sound investment decisions significantly enhance business performance. SMEs with structured financial planning systems tend to achieve higher profitability and sustainability. However, challenges such as limited access to finance, poor financial literacy, and inadequate planning hinder effective investment and budgeting. The study concludes that improving financial management practices is essential for the growth of SMEs in Osun State.
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