Financial management practices in SMEs

The purpose of this book is to help readers understand how financial decisions are taken in the small firms, to identify the problems they face with regards to taking financial decisions and how to help them improve on their businesses. It is usually stated that the private sector is the engine of growth. The majority of the firms in the private sector are small firms. There is the need to support these small firms to survive, as it is only when these firms continue to operate that they can contribute to the national economy by employment and revenue generation. One way of helping these firms is to know their problems and to help solve them. Newly qualified accountants and financial managers expect to find well established systems in place whatever in organisations they seek employment. This book will go a long way to help colleagues who may be employed in small firms to become aware of the conditions that prevail in small firms so that they can prepare for them. To be forewarned is to be forearmed.