ROLE OF WORKING CAPITAL IN BUSINESS GROWTH
Abstract
ABSTRACT
This study examined the role of working capital management in fostering business growth in Maiduguri, focusing on how businesses manage their short-term assets and liabilities to enhance sustainability. The research assessed key aspects of working capital, including cash flow management, inventory control, receivables and payables, and access to short-term financing. Data collected from small and medium-sized enterprises (SMEs) in Maiduguri revealed that efficient working capital management significantly contributes to improved revenue, reduced financial stress, and overall business growth. However, challenges such as limited access to financing and delayed receivables hinder optimal working capital practices. Effective working capital management is crucial for the survival and growth of businesses, especially in dynamic environments like Maiduguri, where businesses face external challenges such as limited infrastructure and economic volatility. Businesses that adopt strategic financial practices,
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