This document discusses a study on the financial management practices of micro, small, and medium enterprises in Tamil Nadu, India. The study found that most micro businesses in the state do not follow good financial management procedures. They lack formal training and expertise in areas like financial planning, project appraisal, inventory management, receivables, cash management, budgeting, and profit/loss analysis. Improving financial literacy and management skills through training could help these businesses succeed and support economic growth in Tamil Nadu.
A Study on Funds Flow Analysis of Vital Pvt. Ltd., Tadaijtsrd
Finance is the lifeblood of every business activity without which the wheels of modern business organization system cannot be greased. Finance management is managerial activity, which is concerned with planning and controlling of the firms financial Resources. Finance is a scarce resource and it has to be managed efficiency for the successful functioning of any company. Several companies have come to grief mainly because of inefficient management of finance, in spite of other favourable conditions. This study explains the funds flow statement analysis of vital pvt. Ltd., Tada. R. Yugandhar | Dr. K. Haritha "A Study on Funds Flow Analysis of Vital Pvt. Ltd., Tada" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-6 | Issue-6 , October 2022, URL: https://www.ijtsrd.com/papers/ijtsrd52025.pdf Paper URL: https://www.ijtsrd.com/management/accounting-and-finance/52025/a-study-on-funds-flow-analysis-of-vital-pvt-ltd-tada/r-yugandhar
Empowering MSMEs - Role of Banks & Financial Institutions, IT, Skill Developm...Resurgent India
MSMEs are nurseries for entrepreneurship, often driven by individual creativity and innovation, and make significant contribution to country’s GDP, manufacturing output, exports and employment generation. Moreover, MSMEs are imperative for achieving the national objective of growth with equity and inclusion.
A study of formalisation of human resource management practices in gujarat [w...WriteKraft Dissertations
Writekraft Research and Publications LLP was initially formed, informally, in 2006 by a group of scholars to help fellow students. Gradually, with several dissertations, thesis and assignments receiving acclaim and a good grade, Writekraft was officially founded in 2011 Since its establishment, Writekraft Research & Publications LLP is Guiding and Mentoring PhD Scholars.
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To provide breakthrough research works to our clients through Perseverant efforts towards creativity and innovation”.
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Writekraft endeavours to be the leading global research and publications company that will fulfil all research needs of our clients. We will achieve this vision through:
Analyzing every customer's aims, objectives and purpose of research
Using advanced and latest tools and technique of research and analysis
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In the past decade, we have successfully assisted students from various universities in India and globally. We at Writekraft Research & Publications LLP head office in Kanpur, India are most trusted and professional Research, Writing, Guidance and Publication Service Provider for PhD. Our services meet all your PhD Admissions, Thesis Preparation and Research Paper Publication needs with highest regards for the quality you prefer.
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NATIONAL AWARD FOR BEST RESEARCH PROJECT (By Hon. President APJ Abdul Kalam)
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5 STAR RATING ON GOOGLE
We have PhD experts from reputed institutions/ organizations like Indian Institute of Technology (IIT), Indian Institute of Management (IIM) and many more apex education institutions in India. Our works are tailored and drafted as per your requirements and are totally unique.
From past years our core advisory members, research team assisted research scholars from various universities from all corners of world.
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A study of formalisation of human resource management practices in gujaratWriteKraft Dissertations
Writekraft Research and Publications LLP was initially formed, informally, in 2006 by a group of scholars to help fellow students. Gradually, with several dissertations, thesis and assignments receiving acclaim and a good grade, Writekraft was officially founded in 2011 . Since its establishment, Writekraft Research & Publications LLP is Guiding and Mentoring PhD Scholars.
Our Mission
“To provide breakthrough research works to our clients through Perseverant efforts towards creativity and innovation”.
Vision
Writekraft endeavours to be the leading global research and publications company that will fulfil all research needs of our clients. We will achieve this vision through:
Analyzing every customer’s aims, objectives and purpose of research
Using advanced and latest tools and technique of research and analysis
Coordinating and including their own ideas and knowledge
Providing the desired inferences and results of the research
In the past decade, we have successfully assisted students from various universities in India and globally. We at Writekraft Research & Publications LLP head office in Kanpur, India are most trusted and professional Research, Writing, Guidance and Publication Service Provider for PhD. Our services meet all your PhD Admissions, Thesis Preparation and Research Paper Publication needs with highest regards for the quality you prefer.
A study of formalisation of human resource management practices in gujarat [w...WriteKraft Dissertations
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The charges are fair and we allow negotiations as per the student’s budget. You can also inbox me for more direction.
A Study on Funds Flow Analysis of Vital Pvt. Ltd., Tadaijtsrd
Finance is the lifeblood of every business activity without which the wheels of modern business organization system cannot be greased. Finance management is managerial activity, which is concerned with planning and controlling of the firms financial Resources. Finance is a scarce resource and it has to be managed efficiency for the successful functioning of any company. Several companies have come to grief mainly because of inefficient management of finance, in spite of other favourable conditions. This study explains the funds flow statement analysis of vital pvt. Ltd., Tada. R. Yugandhar | Dr. K. Haritha "A Study on Funds Flow Analysis of Vital Pvt. Ltd., Tada" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-6 | Issue-6 , October 2022, URL: https://www.ijtsrd.com/papers/ijtsrd52025.pdf Paper URL: https://www.ijtsrd.com/management/accounting-and-finance/52025/a-study-on-funds-flow-analysis-of-vital-pvt-ltd-tada/r-yugandhar
Empowering MSMEs - Role of Banks & Financial Institutions, IT, Skill Developm...Resurgent India
MSMEs are nurseries for entrepreneurship, often driven by individual creativity and innovation, and make significant contribution to country’s GDP, manufacturing output, exports and employment generation. Moreover, MSMEs are imperative for achieving the national objective of growth with equity and inclusion.
A study of formalisation of human resource management practices in gujarat [w...WriteKraft Dissertations
Writekraft Research and Publications LLP was initially formed, informally, in 2006 by a group of scholars to help fellow students. Gradually, with several dissertations, thesis and assignments receiving acclaim and a good grade, Writekraft was officially founded in 2011 Since its establishment, Writekraft Research & Publications LLP is Guiding and Mentoring PhD Scholars.
Our Mission:
To provide breakthrough research works to our clients through Perseverant efforts towards creativity and innovation”.
Vision:
Writekraft endeavours to be the leading global research and publications company that will fulfil all research needs of our clients. We will achieve this vision through:
Analyzing every customer's aims, objectives and purpose of research
Using advanced and latest tools and technique of research and analysis
Coordinating and including their own ideas and knowledge
Providing the desired inferences and results of the research
In the past decade, we have successfully assisted students from various universities in India and globally. We at Writekraft Research & Publications LLP head office in Kanpur, India are most trusted and professional Research, Writing, Guidance and Publication Service Provider for PhD. Our services meet all your PhD Admissions, Thesis Preparation and Research Paper Publication needs with highest regards for the quality you prefer.
Our Achievements:
NATIONAL AWARD FOR BEST RESEARCH PROJECT (By Hon. President APJ Abdul Kalam)
GOLD MEDAL FOR RESEARCH ON DISABILITY (By Disabled’s Club of India)
NOMINATED FOR BEST MSME AWARDS 2017
5 STAR RATING ON GOOGLE
We have PhD experts from reputed institutions/ organizations like Indian Institute of Technology (IIT), Indian Institute of Management (IIM) and many more apex education institutions in India. Our works are tailored and drafted as per your requirements and are totally unique.
From past years our core advisory members, research team assisted research scholars from various universities from all corners of world.
Subjects/Areas We Cover:
Management, Commerce, Finance, Marketing, Psychology, Education, Sociology, Mass communications, English Literature, English Language, Law, History, Computer Science & Engineering, Electronics & Communication Engineering, Mechanical Engineering, Civil Engineering, Electrical Engineering, Pharmacy & Healthcare.
A study of formalisation of human resource management practices in gujaratWriteKraft Dissertations
Writekraft Research and Publications LLP was initially formed, informally, in 2006 by a group of scholars to help fellow students. Gradually, with several dissertations, thesis and assignments receiving acclaim and a good grade, Writekraft was officially founded in 2011 . Since its establishment, Writekraft Research & Publications LLP is Guiding and Mentoring PhD Scholars.
Our Mission
“To provide breakthrough research works to our clients through Perseverant efforts towards creativity and innovation”.
Vision
Writekraft endeavours to be the leading global research and publications company that will fulfil all research needs of our clients. We will achieve this vision through:
Analyzing every customer’s aims, objectives and purpose of research
Using advanced and latest tools and technique of research and analysis
Coordinating and including their own ideas and knowledge
Providing the desired inferences and results of the research
In the past decade, we have successfully assisted students from various universities in India and globally. We at Writekraft Research & Publications LLP head office in Kanpur, India are most trusted and professional Research, Writing, Guidance and Publication Service Provider for PhD. Our services meet all your PhD Admissions, Thesis Preparation and Research Paper Publication needs with highest regards for the quality you prefer.
A study of formalisation of human resource management practices in gujarat [w...WriteKraft Dissertations
We started this Academic Writing Help in the year 2011.Writekraft Research & Publication: www.writekraft.com 1000s of students have graduated across the globe from our in-depth research.
We help students with the following services:
1. Thesis Writing (from 50 pages and above)
2. Dissertation writing
3. Research Writing for Publishing
4. Data Analysis
5. Research Proposal Writing
6. Study Plan
7. Plagiarism Report
Contact us at admin@writekraft.com OR call us on +917753818181, +919838033084
The charges are fair and we allow negotiations as per the student’s budget. You can also inbox me for more direction.
Finance is the lifeblood and lifeline of any business entity either commercial or non-commercial. The
Survival, Stability and Sustainability of a firm is highly associated with its financial wellness. It can be observed through its ability to pay(re) short-term as well as long term liabilities, meeting the regular financial obligations, to increase the value of firm and ability to generate profit. Financial analysis, evaluation, and assessment help in determines the financial position and financial strength of a firm. Among the plenty of methods and tolls available for financial performance, ratio analysis is more useful and meaningful. These ratios make it possible to analyze the evolution of the financial situation of a firm (trend analysis), cross-sectional analysis and comparative analysis.
Growth and Future Prospects of MSME in IndiaIJAEMSJORNAL
In recent years, the significance of MSME has been recognized in the world’s countries for its major contribution in various socio-economic objectives such as higher economic growth and employment, output, nurturing entrepreneurship and encouragement and support for exports. MSME play a vital role in the industrial development of any country. The MSME sector is a backbone of Indian economy for its contribution to growth of Indian economy. This sector is very much important for moves towards a faster and inclusive growth of country. The MSME sector can help for achieving the target of Nation Manufacturing Policy that manufacturing should contribute 25% in India’s GDP by 2022. For that purpose, the government of India has taken a good initiative of “Make in India”. This paper is to focus on performance of MSME & growth and opportunities. It is concluded that this sector significantly contributes in employment, exports and manufacturing output.
The November issue of #PolicyWatch focuses on the overall state of #MSME development in the country, opportunities for MSMEs in some critical sectors, some of the latest MSME initiatives by the Government demonstrating its commitment towards the melioration of business environment for MSMEs and significant policy recommendations in various areas that will assist in putting Indian MSMEs on a high growth trajectory.
Problems Of Funding Small And Medium Scale Enterprises In Nigeriaiosrjce
This paper examined the problems of funding small and medium scale enterprises in Nigeria. The
study identified the sources of finance, types of finance available to small scale enterprises and the various
financial challenges bedevilling the smooth operation of small and medium scale enterprises and suggested the
way forward. Observation and review of relevant documents were employed in carrying out the study. It was
discovered that though adequate finance is indispensable for the successful operation of small and medium
scale enterprises, government still needs to create a more conducive environment for small scale business to
thrive by streamlining business tax policies to eliminate extortion from small scale businesses.
Financial intermediation is a crucial function of Banks, Non-Banking financial companies (NBFCs) and Development Financial Institutions (DFIs) the post reform period in India is characterized by phenomenal growth of NBFCs complementing the role of banks in mobilizing funds and making it available for investment purposes. During the last decade NBFCs have undergone wide volatility and change as an industry and have been witnessing considerable business upheaval over the last decade because of market dynamics, public sentiments and regulatory environment. To evaluate the soundness of NBFCs in Tamil Nadu over a decade, the authors made an attempt of CAMEL criteria for analysis of selected Companies. For this purpose, out of 36 NBFCs in Tamil Nadu 4 Government Companies, 13 Small Companies and 13 Small Companies and another 13 Top Companies were selected as sample respondents on the basis of multi-stage random sampling, to evaluate soundness of each NBFCs through Capital Adequacy, Asset Quality, Management quality, Earnings and Liquidity, Based on findings the suggestions were offered to overcome the difficulties face by selected NBFCs in their development.
International Journal of Business and Management Invention (IJBMI)inventionjournals
International Journal of Business and Management Invention (IJBMI) is an international journal intended for professionals and researchers in all fields of Business and Management. IJBMI publishes research articles and reviews within the whole field Business and Management, new teaching methods, assessment, validation and the impact of new technologies and it will continue to provide information on the latest trends and developments in this ever-expanding subject. The publications of papers are selected through double peer reviewed to ensure originality, relevance, and readability. The articles published in our journal can be accessed online
Effective sources and uses of finance is one of the primary activities for the success of a
business, where imprudent financing practices have been identified as a key constraint for the development
of the SME sector. For instance, the empirical evidence suggests that uncertainties of the SMEs due tolack
of skills and knowledgeable workers, economic fluctuations and financingcosts at firm level constitutes to het
ride from proper access to formal financing
Assignment template pg research metodology (502)Abhilash Kharvi
In this Assignment paper to help for the students to learn research methodology to find out what are the methods and Technics are used in Journals
In this Paper to take particular topic to find out the Particular Problems
Fast publication journals play a vital role in the academic world by offering researchers an avenue to disseminate their work quickly and efficiently. By considering the criteria mentioned above and exploring the list of journals provided, researchers can make informed decisions when selecting a journal for their publications.
Scientific research plays a pivotal role in advancing human knowledge and addressing complex global challenges. One of the most critical aspects of the scientific process is the dissemination of findings through scholarly journals. Researchers depend on reputable journals to publish their work, and these publications, in turn, shape the scientific landscape
Finance is the lifeblood and lifeline of any business entity either commercial or non-commercial. The
Survival, Stability and Sustainability of a firm is highly associated with its financial wellness. It can be observed through its ability to pay(re) short-term as well as long term liabilities, meeting the regular financial obligations, to increase the value of firm and ability to generate profit. Financial analysis, evaluation, and assessment help in determines the financial position and financial strength of a firm. Among the plenty of methods and tolls available for financial performance, ratio analysis is more useful and meaningful. These ratios make it possible to analyze the evolution of the financial situation of a firm (trend analysis), cross-sectional analysis and comparative analysis.
Growth and Future Prospects of MSME in IndiaIJAEMSJORNAL
In recent years, the significance of MSME has been recognized in the world’s countries for its major contribution in various socio-economic objectives such as higher economic growth and employment, output, nurturing entrepreneurship and encouragement and support for exports. MSME play a vital role in the industrial development of any country. The MSME sector is a backbone of Indian economy for its contribution to growth of Indian economy. This sector is very much important for moves towards a faster and inclusive growth of country. The MSME sector can help for achieving the target of Nation Manufacturing Policy that manufacturing should contribute 25% in India’s GDP by 2022. For that purpose, the government of India has taken a good initiative of “Make in India”. This paper is to focus on performance of MSME & growth and opportunities. It is concluded that this sector significantly contributes in employment, exports and manufacturing output.
The November issue of #PolicyWatch focuses on the overall state of #MSME development in the country, opportunities for MSMEs in some critical sectors, some of the latest MSME initiatives by the Government demonstrating its commitment towards the melioration of business environment for MSMEs and significant policy recommendations in various areas that will assist in putting Indian MSMEs on a high growth trajectory.
Problems Of Funding Small And Medium Scale Enterprises In Nigeriaiosrjce
This paper examined the problems of funding small and medium scale enterprises in Nigeria. The
study identified the sources of finance, types of finance available to small scale enterprises and the various
financial challenges bedevilling the smooth operation of small and medium scale enterprises and suggested the
way forward. Observation and review of relevant documents were employed in carrying out the study. It was
discovered that though adequate finance is indispensable for the successful operation of small and medium
scale enterprises, government still needs to create a more conducive environment for small scale business to
thrive by streamlining business tax policies to eliminate extortion from small scale businesses.
Financial intermediation is a crucial function of Banks, Non-Banking financial companies (NBFCs) and Development Financial Institutions (DFIs) the post reform period in India is characterized by phenomenal growth of NBFCs complementing the role of banks in mobilizing funds and making it available for investment purposes. During the last decade NBFCs have undergone wide volatility and change as an industry and have been witnessing considerable business upheaval over the last decade because of market dynamics, public sentiments and regulatory environment. To evaluate the soundness of NBFCs in Tamil Nadu over a decade, the authors made an attempt of CAMEL criteria for analysis of selected Companies. For this purpose, out of 36 NBFCs in Tamil Nadu 4 Government Companies, 13 Small Companies and 13 Small Companies and another 13 Top Companies were selected as sample respondents on the basis of multi-stage random sampling, to evaluate soundness of each NBFCs through Capital Adequacy, Asset Quality, Management quality, Earnings and Liquidity, Based on findings the suggestions were offered to overcome the difficulties face by selected NBFCs in their development.
International Journal of Business and Management Invention (IJBMI)inventionjournals
International Journal of Business and Management Invention (IJBMI) is an international journal intended for professionals and researchers in all fields of Business and Management. IJBMI publishes research articles and reviews within the whole field Business and Management, new teaching methods, assessment, validation and the impact of new technologies and it will continue to provide information on the latest trends and developments in this ever-expanding subject. The publications of papers are selected through double peer reviewed to ensure originality, relevance, and readability. The articles published in our journal can be accessed online
Effective sources and uses of finance is one of the primary activities for the success of a
business, where imprudent financing practices have been identified as a key constraint for the development
of the SME sector. For instance, the empirical evidence suggests that uncertainties of the SMEs due tolack
of skills and knowledgeable workers, economic fluctuations and financingcosts at firm level constitutes to het
ride from proper access to formal financing
Assignment template pg research metodology (502)Abhilash Kharvi
In this Assignment paper to help for the students to learn research methodology to find out what are the methods and Technics are used in Journals
In this Paper to take particular topic to find out the Particular Problems
Fast publication journals play a vital role in the academic world by offering researchers an avenue to disseminate their work quickly and efficiently. By considering the criteria mentioned above and exploring the list of journals provided, researchers can make informed decisions when selecting a journal for their publications.
Scientific research plays a pivotal role in advancing human knowledge and addressing complex global challenges. One of the most critical aspects of the scientific process is the dissemination of findings through scholarly journals. Researchers depend on reputable journals to publish their work, and these publications, in turn, shape the scientific landscape
Fast publication journals, as the name suggests, prioritize rapid dissemination of research findings. They aim to shorten the time between manuscript submission and publication, which can be especially beneficial for researchers working on time-sensitive topics or competing in highly competitive fields.
Medical science journals play a pivotal role in advancing healthcare by facilitating the dissemination of scientific knowledge, research findings, and innovations. These journals serve as a vital platform for healthcare professionals, researchers, and scientists to share their discoveries, discuss emerging trends, and ultimately contribute to the improvement of patient care and public health. In this article, we will explore the significance of medical science journals, their impact on healthcare, and their evolving role in the digital age.
Peer review is a fundamental aspect of the academic publishing process. It ensures the quality and integrity of research by subjecting it to scrutiny by experts in the field. One of the most rigorous forms of peer review is the double-blind review process, which plays a critical role in maintaining the credibility and reliability of scholarly journals.
In today's digital age, the demand for skilled digital marketers is on the rise. Whether you're looking to advance your career or start a new one, enrolling in a reputable digital marketing institute can be a game-changer. But how do you find the right one near you? In this article, we will explore the steps to help you locate the best digital marketing institute in your vicinity.
Scopus is a bibliographic database that covers a wide range of academic disciplines. It was developed by Elsevier, a prominent academic publishing company, and was first launched in 2004. Scopus is designed to provide researchers with access to a vast repository of scholarly literature, including journal articles, conference papers, patents, and more. Unlike some other databases, Scopus places a strong emphasis on citation analysis, making it an invaluable tool for assessing the impact and influence of research publications.
Digital marketing encompasses a wide array of strategies and techniques aimed at promoting products, services, or brands through digital channels such as search engines, social media, email, and websites. With the rise of e-commerce and online consumer behavior, digital marketing has become an integral part of any successful marketing strategy.
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2. International Journal of
HRM and Organizational Behavior ISSN 2454 - 5015
2
Volume 10, Issue 1, Feb/2022
A STUDY ON FINANCIAL MANAGEMENT PRACTICES OF
MICRO ,SMALL AND MEDIUM ENTER PRISESI TAMILNADU
R.BANUPRIYA1andDr.D.VENKADESH2,
1Ph.D.ResearchScholarand2AssistantProfessorandResearchAdvisor,
1&2P.GandResearchDepartmentofCommerce,
A.V.V.MSriPushpamCollege(Autonomous),Poondi–613503,ThanjavurDt.
Abstract
In India's economic growth, micro and small businesses play an important role. They contribute to the
creation of new jobs, a rise in national income, and a more creative and competitive use of locally
available raw materials and human resources through their creation of new and innovative products and
services. All available support has been given to micro and small businesses by the government because
of their critical role in economic growth. Due to these huge obstacles, though, the movement isn't
gaining the momentum it needs to. As a result, the purpose of this research is to examine the financial
management methods used by micro and small businesses in Tamil Nadu and to make
recommendations for how to improve them. As a result, these businesses will be able to thrive and
prosper, which is crucial to the overall growth and development of the economy.
KeyWords:Financial Management in Micro, Small, and Medium-Sized Enterprises
1. Introduction
Small and medium-sized businesses (SMEs) play a critical role in the country's economic growth. By
utilizing locally accessible resources, they help to increase employment and revenue while requiring less
capital. They leverage locally accessible human resources to generate new and innovative uses for
domestically available resources. Government of India in 2006 passed the Micro, Small and Medium
Enterprises Development Act, which aims to help promote and grow small businesses in the country's
economic growth. An enterprise that manufactures or produces goods but does not invest more than
twenty-five lakh rupees in plant and machinery is classified as a micro enterprise under the MSMED Act
2006, while those that do but do not invest more than five crore rupees are classified as small
enterprises, while those that invest more than five crore rupees but do not exceed 10 crore rupees are
classified as medium enterprises. But in the case of enterprises engaged in providing or rendering of
services, the investment in equipment does not exceed ten lakh rupees is termed as micro enterprises,
exceeds ten lakh rupees but does not exceed two crore rupees is termed as small enterprises and
exceeds two crore rupees but does not exceed five crore rupees is termed as medium enterprises.
StatementoftheProblem
One of the most important aspects of business management, especially in the micro and small
enterprise sector, is financial management. A financial plan includes determining the company's
financial needs, identifying the most acceptable sources of financing, mobilizing the necessary amount
of money at the correct moment, and effectively evaluating investment bids.
Profits should be put to good use and working capital should be managed properly. Effective financial
management is critical to the smooth operation of micro and small businesses. Tamil Nadu's SMEs,
however, do not use financial management methods that are up to the standards expected. Micro and
small businesses in Tamil Nadu face particular difficulties when it comes to financial management. Many
of these companies' promoters lack the financial expertise to effectively handle their financial affairs, or
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they have failed to employ qualified and experienced financial managers to do so. The owners of these
businesses, who lack the required expertise and education in current financial management tools and
approaches, manage their own financial affairs. In today's fast-paced business world, a lack of financial
management knowledge and competence can have a negative impact on a company's profitability. It is
also possible for these businesses to fail if they make financial decisions that have a negative impact on
their finances. As a result, the purpose of this research is to examine the financial management methods
used by micro and small businesses in Tamil Nadu and to make recommendations for how to improve
them. As a result, these businesses will be able to thrive and prosper, which is crucial to the overall
growth and development of the economy.
2. Objectivesof theStudy
1. To examine the current financial management methods of micro and small businesses in Tamil
Nadu.
To examine the various funding options available to Tamil Nadu's micro and small businesses.
To give recommendations for improving the financial management practices of micro and small
entrepreneurial operations in the state of Tamil Nadu.
Table-1DistributionofMicroEnterprises AccordingtoNatureofBusinessandSourceofFund
(TestofSignificanceusingt– Test)
NS:Notsignificantat 5percentlevel
One way of determining whether or not the various sources of funding used by the units involved in
producing or providing various services differ significantly was to perform an ANOVA test. Findings from
a statistical analysis of variance (ANOVA) provided in Table-1 show that there is no statistically
significant difference in the use of both owned and borrowed funds among the micro
companiesthatproduceorprovidedifferenttypesofservices.
Table-2PreparationofFinancialPlan
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Preparation of a financial plan is critical to identifying the future use of the funds available. Table-2
shows that 83.4 percent of the units have no financial plan in place. There are just three of the
remaining 26 units that are preparing a long-term financial plan, 10 of which have medium-term plans,
and 13 of which have short-term plans.
Table-3WorkingCapitalRequirement
Source:PrimaryData
The money needed to keep a business running on a daily basis is known as working capital. Out of 157
sample businesses, 25.5% require working capital up to Rs.25000, 31.2% use working capital between
Rs.25001 and Rs.50000, 12.1% need working capital between Rs.50001 and Rs.100000, and 31.2%
require working capital over Rs100,000. This data shows that micro businesses have a wide range of
working capital needs.
Table4ProportionofCreditPurchases
Source:PrimaryData
Table 4 presents a study of the micro firms' detailed purchases, which shows that out of 157, 97 units
(61.8%) do not buy items on credit. Another 60 units (or 12.7%) acquire up to 20% of their raw material
requirements on credit, another 31 units (19.7%) purchase 21% to 40%, and the final nine units (or 9%)
purchase more than 40% on credit. The statistical analysis of the data
presented in the following table shows that the credit purchase varies from a minimum of 10 percent to
a maximum of 75 per cent of their material requirement with mean of 28.83 per cent andstandard
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deviation of 14.27. The skewness factor of the distribution is 1.741, which is positiveindicating that
majority of the units are having lesser proportion credit purchase of their rawmaterialrequirement.
Table5DescriptiveStatisticsoftheProportionofCreditPurchases
To test whether there is any significant variation in the share of credit purchases among manufacturing
and service firms t – test has been employed. The t-test results in Table 4.6 show that there is no
statistically significant difference in the share of credit purchases between manufacturing and service
companies (t = 1.048, P > 0.05). The ANOVA test was used again to see if there is a significant difference
in the percentage of credit purchases among micro companies involved in various forms of product or
service production. From the test result shown in Table 4.7, it is obvious that there is no statistically
significant difference exist among the micro companies engaged in producing various sort of products or
services (F = 2.044, P s>0.05) with respect to the proportion of credit purchases.
Table 4.6 Distribution of Micro Enterprises According to Nature of Business andProportion of
CreditPurchases(TestofSignificanceUsingt–Test)
Table 4.7 Distribution of Micro Enterprises According to Nature of Product/Service andProportion
Credit Purchases(Testof SignificanceusingANOVA)
4. MajorFindings
Production and service firms, as well as microbusinesses offering a wide range of goods and services, all
use owned and borrowed cash in the same way. This is true for all three.
The vast majority of micro-enterprises do not use any project appraisal tools before investing in
initiatives. The payback period approach is used by 26 units, the average rate of return method is used
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by 65 units, the net present value method is used by 12 units, the internal rate of return method is used
by one unit, and the profitability index method is used by two units.
With regards to budgeting, 131 micro-enterprises haven't put out a detailed financial strategy. More
than a dozen of the remaining 26 units are preparing short-term and medium-term plans, while only
three are preparing long-term plans.
In terms of the need for working capital 25.5 percent of micro firms require working capital up to
Rs.25000, 31.2 percent require working capital from Rs.25001 to Rs.50000, 12.1 percent require working
capital from Rs.50001 to Rs.100000, and 31.2 percent of the enterprises need working capital above
Rs.100000.
It is financed by 43.9 percent of the businesses, 24.2 percent by borrowed funds and 31.8 per cent by
both owned and borrowed funds, respectively.
More than half of the companies estimate the amount of working capital based on their past
experiences, while only 10.8% of the companies do so formally and only 36.9% of the companies don't
make a formal estimate.
60% of businesses buy raw materials as and when they need them, with 26.8% of businesses doing so
weekly, 10.8% of businesses doing so monthly, and one company doing so whenever it is available.
When choosing how often to purchase raw materials, none of the micro businesses are employing
economic order quantity.
In inventory management, 19.7% of companies employ a perpetual inventory system, while the other
80.3% do not use any formal technique of inventory management at all.
61.8% of companies do not make any credit purchases, which is a low percentage when compared to
overall purchases. The remaining companies' average credit buy percentage is 28.83 percent, with a
minimum of 10% and a maximum of 75%.
No statistically significant difference exists between manufacturing and service firms and between
different types of businesses based on product or service type when it comes to credit sales, according
to the test of significance.
5. Conclusion
Small and micro businesses play an important role in the economic growth of Tamil Nadu. By utilizing
local resources, they are able to create a large number of jobs with a minimal amount of cash. They
serve as a proving ground for aspiring business owners with fresh ideas. Finances are critical to the
success of these businesses.
management. In addition to practical expertise, financial management requires a thorough
understanding of theoretical concepts. However, many micro and small business owners lack formal
expertise in financial management and are unable to appoint qualified financial managers because of
their limited financial resources. The financial management procedures of micro and small firms in Tamil
Nadu have been evaluated in this study. A total of 160 micro and small businesses (MSEs) from the
districts of Thanjavur and Trichy were randomly selected for the study. These sample units were
surveyed using a predetermined interview schedule. With the use of statistical tools, these data were
analyzed in accordance with the study's objectives. Most micro businesses in Tamil Nadu don't follow
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good financial management procedures, according to the study's findings. They use firefighting-style
financial management techniques that they've picked up on the job. In order to improve their financial
management practices, small-business owners and entrepreneurs must be properly trained in financial
planning and project appraisal, inventory management and receivables/cash-management, budgeting,
as well as profit and loss management. Improved and better financial management techniques of these
businesses could lead to their success and help the nation grow.
6.References
[1] "Firm Growth and Barriers to Growth among Small Firms in India" by Alex Coad and
JaganaddhaPawanTamwada, Small Business Economics, March 2015 (Springer).
[2] "On the Growth of Micro and Small Firms: Evidence from Sweden," Almas Heshmati, 2015, in Small
Business Economics, Vol.17, No.3, November, pp. 315-324. [2] (Springer).
[3] New Delhi-based Deep and Deep Publications published Financing Small Scale Industries by A K Arora
in 1992.An Overview of Small and Medium Enterprises by David Rajan and Madhavan B, AMET Journal
of Management, Vol.II, No.1, July-December 2011, page 4
[4] Nagaraj G H and Shivalingappa P, 2012, "Effect of Globalization on Small Scale Sectors in India,"
Southern Economist, April 1, 2012.
[5] "Micro, Small and Medium Enterprises Financing in India - Issues & Concerns" by Prasad C S, Cab
Calling, July-September, 2016. [6].