Date of Conferral
Judith L. Forbes
Most owners of small and medium-sized enterprises (SMEs) in Nigeria are inadequately prepared to perform the financial management tasks required for business sustainability. This case study, guided by institutional theory, was conducted to explore how SME owners can be prepared to implement financial management effectively for business sustainability in Edo state, Nigeria. The research question addressed the understanding of experienced SME owners regarding how they can develop necessary financial management skills for sustaining a business in Edo state. Data were collected using semistructured interview, and field notes from 15 SME owners in Edo state who had prior knowledge of, experience with, and education on financial management and had been managing an SME for at least 3 years. Through Yin's 5-step data analysis process, member checking, and triangulation, the themes that emerged were strategic accounting practice, knowledge of financial planning, hiring an accountant, record keeping, obtaining accounting education, and embracing technology and financial management software. The study findings have the potential to contribute to positive social change by indicating how SMEs can be more effective in generating employment, ensuring sustainability, and improving the standard of living.