Working Capital Management Competencies Needed by Business Education Graduates For Small And Medium Scale Business Enterprise in Anambra State

Abstract

The major purpose of the study was to determine the working capital management competencies needed by graduates of business education for management of small and medium scale business enterprises in Anambra State. The study utilized a survey research design. The population of the study was 188 comprising 95 business education teachers in institution of higher learning and 93 managers of registered small and medium scale enterprises in Anambra State. The entire population was studied using a structured questionnaire with a five-point scale made up of two parts. Three experts in the University of Nigeria, Nsukka, validated the instrument. The reliability of the instrument was 0.846 determined using Cronbach Alpha Reliability Test. Mean was used to answer the research questions while t-test statistic was used to test the null hypothesis at 0.05 level of probability. The major findings of the study were: inventory management competencies are needed by graduating students of business education for management of SMEs; cash management competencies are needed by graduating students of business education for management of SMEs; accounts receivable management competencies are very highly needed by graduating students of business education for management of SMEs; and accounts payable management competencies are highly needed by graduating students of business education for management of SMEs. There was no significant difference in the mean response of the managers of small and medium scale enterprises and that of teachers of business education in higher institution in Anambra state over the competencies needed by graduate of business education for management of SMEs in Anambra state. The researcher recommended that the programme of business education should emphasize those skills and competencies needed for management of small and medium scale enterprises as business education graduates may likely find themselves in this area of the economy.