Financial Literacy and Financial Performance of Small and Medium Sized Enterprises in Kakoba Ward Mbarara City, Uganda
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Date
2024
Journal Title
Journal ISSN
Volume Title
Publisher
International Journal for Multidisciplinary Research (IJFMR)
Abstract
Uganda has been cited among developing countries which are populated with Small and Medium
Enterprises (World Bank, 2018). These enterprises have been praised to be dominant players in instituting
economic stability as well as playing key role in developing private sectors in Uganda. There has been
Substantial financial support from both government and other development for example an African
Guarantee fund worth US$ 30 million aiming at supporting African SME sector as well as fund support
extended by the government through presidential initiatives to support Small and Medium Enterprises
(MoFPED/UNPF, 2017).
In addition to this financial support from the various development agencies, there has been also emergency of financial institutions for instance commercial banks and micro finance institutions in almost all parts of
the country and these have also led to easy accessibility of funds by these enterprises easily (BOU,2013).
However, Kasekende (2018) explained that majority of these SMEs fail to perform financial as evidenced
by the high solvency rate as most of them fail to celebrate their second birthday due to misappropriation
and mismanagement of their financial resources and all this is a true indicator of limited knowledge on
how to manage financial matters of enterprises
Description
Keywords
Literacy, Financial Performance, Small and Medium sized Enterprises
Citation
www.ijfmr.com