![]() ![]() ![]() For every service that you pay for, get a receipt. Starting with receipts, for everything that your payout, you should get a receipt. Records of receipts and salaries that you’re paying, as well as records of your taxes, and all other regulatory requirements. It’s simply keeping track of all business transactions that occur as you run your business. Recordkeeping or bookkeeping is the process of taking note of any financial transactions that occur within your business. She is also a recipient of the 2019 Bank of Zambia Governors Award for individual contribution to financial education in Zambia. She is a personal finance educator and banker at Standard Chartered Bank. Joining me to discuss this topic is Mwaba Ngenda. I discuss the importance of record-keeping to a business in today’s podcast. Conclusion was drawn that level of internationalization was generally low and it was recommended that entrepreneurs should incorporate internationalization in their businesses plan and strategic goal/vision and that policies and information should be facilitated by government and agencies to encourage internationalization and to reduced the perception of its complexity at least within the East African region and finally the global market.Why record-keeping important for a business? Just like you, Arnold Zimba, who runs a printing and stationery shop in Lusaka also wonders why. The Network Theory of Internationalization by Johanson and Mattsson (1988) was authenticated. The findings revealed there was a high level of growth and very low level of internationalization (i) there was no significant difference in levels of growth between age of SBE, while there was a significant difference in level of internationalization between age of SBE (ii) there was also a significant difference in the level of growth and internationalization between types of industry of SBE (iii) there was a significant negative relationship between level of growth and internationalization. Using a quantitative, ex post facto, descriptive correlational and cross-sectional survey design the data was analyzed using t-test, Linear Regression, ANOVA and Pearson's methods as were called for. To test the null hypotheses of: (i) no significant difference in the level of growth and internationalization between age of SBE (ii) no significant difference in the level of growth and internationalization between types industry/sector of SBE (iii) no significant relationship between the level of growth and internationalization of selected SBE To authenticate information within the context of the theory to which this study is based. This study was undertaken at the end of 2011 to examine the levels of growth and internationalization in selected Small business enterprises (SBE) in Kampala district, Uganda. The findings show that SME challenges are not only limited to lack of access to finance, but also governance, lack of government support, limited strategic alliances, human resource capacity gaps, lack of innovation and risk management, high taxes and poor record keeping. Eastern, Northern, Westnile, Western and Southwestern regions of Uganda using an interviewer guide questionnaire. ![]() A study of 60 SMEs involved in various sectors was conducted in the Central. The external challenges include lack of effective policies in support of SMEs development, lack of developed value chains to ensure efficient utilization of resources and lack of reliable financing mechanism to support SME development yet most of them are in the agriculture sector which is the backbone of the Uganda economy. The internal challenges include poor record keeping, human resource capacity gaps, poor management and governance, low asset base and a weak working capital position, among others. They are faced with both internal and external challenges. Much as they play an important role, SMEs are dogged by many problems which affect their performance. They are important in the promotion of economic growth, job creation and mitigation of poverty (Rogerson, 2001 a). SMEs play an important role in the economy of many developing countries, Uganda inclusive. ABSTRACT Kasekende (2003) in the Uganda context defines an SME as an enterprise or a firm employing less than 100 employees with values of assets excluding land, buildings and working capital of less than USD30,000 and an annual income or turnover of USD 6000-30,000. ![]()
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