Financial management: case study of Gweru women entrepreneurs

Abstract

Small to Medium Enterprise sector world over have been the driving force behind economic development. Women entrepreneurship in Zimbabwe has stood the test of time, however, the majority of these women driven enterprises have showed marginal growth signs. Given the absence of growth amongst women entrepreneurs, research aimed to consider financial management strategies by women entrepreneurs. The study identifies challenges faced by women entrepreneurs in managing business finances. Furthermore, financial management challenges (lack of financial management training, need to cater for family needs, lack of confidence in financial management skills) faced by women entrepreneurs were identified as well as the financial management skills need to be developed and or improved amongst women entrepreneurs to enhance business growth. The research concludes that, entrepreneurs should be aware that enterprise survival and growth are futile without appropriate financial management and should seek proper training and investment management to effectively utilise financial resources.