CASHLESS POLICY AND BUSINESS PERFORMANCE IN SELECTED SMALL AND MEDIUM ENTERPRISE IN EDO NORTH
Abstract
This study examines the cashless policy and business performance in selected small and medium enterprise in Edo North, Edo state. This study adopted the descriptive research design. Stratified random sampling technique was used in selecting staff of the companies. The researcher used descriptive statistics and inferential statistics to analyze data. STATA (Statistical Data Software) was used to generate the statistical output. Based on the statistical test used in the testing of the hypotheses, it was revealed that cashless policy significantly increase sales revenue of businesses in Edo North; cashless policy have a significant effect on quality of service provided by businesses in Edo North; cashless policy does not significantly increase the profitability of businesses in Edo North. In line with the findings of the study, the study recommends amongst others that businesses should invest in staff training to ensure efficient handling of cashless transactions and provide incentives to encourage customers to use cashless payment methods; businesses should leverage technology to improve customer experiences. They can invest in user-friendly and secure cashless payment systems that make transactions faster and more convenient for customers.
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