EFFECT OF CASH FLOW MANAGEMENT ON SMALL AND MEDIUM ENTERPRISES (SMES) PERFORMANCE IN YABA, LAGOS MAINLAND LOCAL GOVERNMENT AREA, LAGOS STATE.
Abstract
Effective cash flow management is a critical determinant of the performance and growth of Small and Medium Enterprises (SMEs), particularly in dynamic urban centers like Yaba Mainland Local Government in Lagos State, Nigeria. This study investigates the impact of cash flow management practices on the operational efficiency and financial performance of SMEs within this locality. Drawing on both qualitative and quantitative surveys from SME owners and the research explore how preparation and regular update of cash flow forecast, speed up invoicing and collection, control and reduce expenses, Maintaining a cash reserve or emergency fund, regular financial review and planning influence business outcomes. Findings indicate that SMEs with structured cash flow systems are more resilient to financial shocks, demonstrate improved profitability, and experience enhanced access to credit.
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