ABSTRACTIn countries that are now developing like Ghana, Small Businesses constitute about 90% of all businesses and occupy a central part of the Ghanaian economy as the main driver in terms of its contribution to income, employment generation and ultimately economic growth. Key among these factors is poor accounting and …
See more
ABSTRACTIn countries that are now developing like Ghana, Small Businesses constitute about 90% of all businesses and occupy a central part of the Ghanaian economy as the main driver in terms of its contribution to income, employment generation and ultimately economic growth. Key among these factors is poor accounting and financial records keeping. The study therefore examines the effect of record keeping among SBs in the Sunyani Municipality. The main objective of this study is to investigate the effects of records keeping on performance of small businesses in the Sunyani municipality. The study adopted a case study research design. The data collected was analysed quantitatively and qualitatively. The researcher used purposive and random sampling techniques to reduce the possibility of research limitations. The primary data collected were analyzed using the Statistical Package for Social Science (SPSS) and the Excel software package. The study found out that the form of record keeping by SBs in the Sunyani market is manual. Finally, the study found out that Small Businesses faced major challenges in adopting and implementing accounting record keeping systems in the Sunyani market. Based on the findings the study concludes that the inability of SBs operators to use accounting record keeping systems in their daily record keeping activities leads to negative effects on their operations. The researcher therefore recommend that for better decision making and improved performance of SBs, the National Board for Small Scale Industries (NBSSI) should collaborate with other benevolent NGOs to set up training organizations to offer basic ICT training skills and development programme to SBs operators at affordable cost. This will help them acquire basic ICT skills to enable them keep records of their business activities.
See less
