DECLARATION
I declare that the work contained in this research proposal is my own work and has never been
submitted for any award in any institution/university.
Signed…………………………………….
ASIKU INNOCENT
Date………………………………………..
i
DEDICATION
I dedicate this research proposal to the Almighty GOD for constantly keeping me wiser and also
to Nakato Rahel.
ii
ACKNOWLEDGEMENT.
I would like to extend my sincere thanks and appreciation to the Almighty GOD and to my
research supervisor Mr. ACAYE CHARLES
iii
ABSTRACT.
The abstract will summarize the contents of the three chapters in the research proposal.

Chapter one will study the impact of cash management on growth of small scale business
enterprises conducted at Paidha town council-Zombo district. It will also include the
objectives and significance among others.

Chapter two will summarize the relevant literature relating to the cash management on
growth of small scale business enterprises, identifying both the independent and
dependent variables, including the relationship between cash management and growth of
small scale business in Paidha town council.

Chapter three which is all about methodology of the research proposal. It will contain the
research design (longitudinal and descriptive research design) ,study population of 140
individuals will be selected using simple random sampling method, procedures of data
collection basically questionnaire and interview will be used, data processing and
analysis including the validity and reliability, and limitations of the study will be applied.
iv
TABLE OF CONTENT
Contents
PAGE
DECLARATION ................................................................................................................................................ i
DEDICATION.................................................................................................................................................. ii
ACKNOWLEDGEMENT. ................................................................................................................................ iii
ABSTRACT. ................................................................................................................................................... iv
TABLE OF CONTENT ...................................................................................................................................... v
CHAPTER ONE ............................................................................................................................................... 1
1.0 INTRODUCTION ....................................................................................................................................... 1
1.1 Background to the study ......................................................................................................................... 1
1.2 Statement of the problem. ..................................................................................................................... 3
1.3 Purpose of the study ............................................................................................................................... 4
1.4 Objectives of the Study ........................................................................................................................... 4
1.5 Research Questions ................................................................................................................................ 4
1.6 Scope of the study .................................................................................................................................. 4
1.7 Significance of the Study ......................................................................................................................... 5
CHAPTER TWO .............................................................................................................................................. 6
LITERATURE REVIEW ..................................................................................................................................... 6
2.0Introduction ............................................................................................................................................. 6
2.1Cash management ................................................................................................................................... 6
2.2 The key to effective cash management in small business enterprises ................................................... 7
2.3
Cash planning ..................................................................................................................................... 8
2.4
Managing cash shortages .................................................................................................................... 8
2.5 Cash control system. ............................................................................................................................. 9
2.6 Cash management policies................................................................................................................... 9
2.7 Performance of small and medium enterprises.................................................................................... 9
2.8 Factors that may lead to business failure ............................................................................................. 10
2.9 Relationship between cash management and growth of a business ................................................. 11
2.10 Conclusion ......................................................................................................................................... 12
CHAPTER THREE.......................................................................................................................................... 13
METHODOLOGY .......................................................................................................................................... 13
v
3.0 Introduction .......................................................................................................................................... 13
3.1 Study Design.......................................................................................................................................... 13
3.2Population size ....................................................................................................................................... 13
3.3 Sample size:........................................................................................................................................... 13
3.4Sampling method ................................................................................................................................... 13
3.6 Data collection techniques and instruments ........................................................................................ 14
3.7Data sources........................................................................................................................................... 14
3.8 Data collection instruments .................................................................................................................. 15
3.9 Data processing analysis ....................................................................................................................... 15
3.10 Book ethical consideration ................................................................................................................. 15
3.11 Validity and reliability of data ............................................................................................................. 15
3.12 Limitations of the study ...................................................................................................................... 15
References .................................................................................................................................................. 16
APPENDICES ................................................................................................................................................ 17
APPENDIX I: TIME FRAME FOR WRITING THE RESEARCH PROPOSAL ......................................................... 17
APPENDIX II:BUDGET AND EXPENDITURE FOR WRITING THE PROPOSAL .................................................. 17
vi
CHAPTER ONE
1.0 INTRODUCTION
Effective cash management in an organization ensures its sustainability; because it increases
working capital .it’s therefore presumed that cash management has influence on the growth of
small scale business enterprises.
Therefore this chapter presents the background to the study, objectives of the study, research
questions, and scope of the study, significance of the study and finally the limitations of the
study.
1.1 Background to the study
Better cash management is traced way back in 1947 when the American radio corporation(ARC)
set up a lockbox collection system for dealer’s to deposit payments to ARC loans to finance
inventory payment mailed to special post office box and deposited cheques directly into ARC’s
bank account.
In 1960’s to70’s cash management responded to rising interest rates by becoming increasingly
sophiscated and later corporation recognized cash as an asset able to generate more income and
saw that more money return for actively managed cash.
With an introduction of desk top computers in1970’s to 1980’s coupled with corporate computer
application developed made major impact on cash management since it simplifies work for the
banks in terms of concentrating bank balances into central account by electronic fund transfer
retrieve, timely automatic information’s, and performs transaction in real time and online.
In 1990’s financial environment turned its focus on to risk management, credit worthiness and
payment system risk to ensure effective cash management.
In this 21’st century cash management has developed a global emphasis as the world’s capital
market becomes more closely aligned and local economies have become broadly international,
technologies like internet are now exclusively used in cash management in most enterprises. The
1
efforts towards bench marking, re-engineering and out sourcing that began in the late 1990’s to
gain momentum.
There is no single universally accepted definition of cash management. For the purpose of this
study cash management is cash collection, recording, concentration, custody and control of cash
and equivalents. In Google encyclopedia 2nd Edition, cash management is concerned with;
collection, concentration, and disbursement of cash including, measuring liquidity, managing
cash balances and short term investments.
According to Billy (2013) cash management is a process in which cash flow is monitored,
analyzed and adjusted within a business setting. He further noted that cash management is the set
of guidelines established by management to ensure that the organization has optimal cash
balances at any time in order to meet organization’s goals; cash recovery should be matched with
cash spent on services so that there is no unused cash balances.
Therefore, this requires efficient planning of cash, approval of cash expenditure, and safe
custody of cash and allocation of cash. These will safe guard the obligations of the firm hence
making it able to achieve its needs. On the other side,
Small scale enterprises are seen as a driving force for the promotion of an economy (khan and
Jawaid, 2004) and they contribute immensely to the economic development of any country
(Abort etal 2010). In Uganda SME’s sector contribute 20% to GDP and provides employment to
over 1.5million people which accounts for 90% of total non-farming private sector workers
(UIA, 2008). The Ugandan economy has made significant recovery since 1987, and is on the
way to sustainable growth and development. This is being made possible by prudent policies that
have been consistently pursued for the last 15 years towards economy liberalization and support
for the private sector. As in most developing countries, SME’s form a significant part of the
Ugandan economy. Nevertheless, they are faced by a number of problems, including access to
finance and financial management from formal sources, which is considered to be the most
important problem (MFPED, 2008).However with all these efforts from the government, many
SME’s continuous to fail and close down.
According to Schaefer,(2011) publication on small business administration(SBA), 7/10 new
employer establishments survive at least two years and 51% survive at least 5years.This is a far
2
cry from previous long held belief that 50% of business fail in their 1st year and 95% fail within
5years.
To date there is no universally accepted definition of SME’s (IFAC, 2011).The definition varies
across countries and industries. In Uganda SME are officially defined on the basis of both the
number of people employed and the annual turnover of the enterprise (Ernest and Young, 2011),
Ministry of finance, planning and economic development defines SME’s as an enterprise
employing a minimum of 5 people and maximum of 50 people; and/or has an annual sales
turnover of 360 million Ugandan shillings.
In addition to the study carried out by okello, OC.O, (march, 2008), small scale business
enterprises have different types among others includes; filling/gas stations, bars, hotels, saloons
etc.He further noted that SME’s is the fastest growing sector in Uganda, but faced with a lot of
challenges like high failure rate, since over 10,000 people who start a business every year, 40%
fail within a year. Despite such similar challenges, many small businesses growths in paidha
town council have been retarded. Out of 55% of new businesses do not make it to the 1st birth
and 80% do not make any progress. They stagnate and eventually collapsed within 3-4 years.
1.2 Statement of the problem.
A good cash management is not a matter of choice; it’s something that must be undertaken in
any business, (Riley, 2012). There is no precise way of determining the exact amount of cash
that can enable small scale business to all succeed. Scotts, 2014 noted that good management is
the main reason for business success and good cash management is key to entrepreneurs.
In the recent years there has been continuous support towards small scale enterprises by the
central government through stable macroeconomic conditions through various authorities and
associations who continuously mentor their members’ on business. Many organizations have also
gone ahead to introduce cash management strategies in order to improve on their businesses.
However, despite the various cash management strategies introduced and adopted by
organizations, many small scale businesses still experience low growth rate coupled with the fact
that many scale business owners seem not to understand the significance of the proper
3
management of business resources; a thing that has prompted the researcher to conduct a study
on the effect of cash on growth of small scale business enterprises.
1.3 Purpose of the study
The study purpose is to investigate the impact of cash management on the growth of small scale
enterprises have impact.
1.4 Objectives of the Study
a) To establish cash management policies adopted by small scale business enterprises.
b) To establish cash planning done by small scale business enterprises and collect
descriptive evidence on cash management practices.
c) To establish the relationship between cash management and growth of small scale
business in paidha.
1.5 Research Questions
a) What are the cash management policies adopted by small scale business enterprises?
b) How do small business enterprises plan their cash and how important are cash
management practices to SME’s growth?
c) What relationship exists between cash management and growth of small scale business
enterprises?
1.6 Scope of the study
A lot of emphasis will be put on cash management and success growth of small scale business
enterprises.
1.6.1 Geographical scope
The study will be conducted in paidha town council. Paidha town council is located in zombo
district, Westnile sub region in Northern Uganda. The town lies close to the border with DRC,
south of Arua.The study will be carried out among business owners and employees.
1.6.2 Population scope
4
According to 2002 national census estimated population of paidha at 24,079 .but for the purpose
of study 140 individuals will be selected; 20 business owner, 60 employees, 40 customers, and
20 suppliers will be selected on a simple random sampling method.
1.7 Significance of the Study
The study is expected to benefit;
a) The owners and management of small scale business as an attempt to ensure their growth.
b) On the other side small scale business will learn how to improve cash management
ignored to survive.
c) The researcher himself since the research is part of the requirements for the award of
diploma in business administration at Makerere university business school.
5
CHAPTER TWO
LITERATURE REVIEW
2.0Introduction
This chapter presents a review on existing literature on cash management and growth as
dependent and independent variables respectively as well as the relationship between the two
variables.
2.1Cash management
According to Billy, M (2013), Cash management is necessary for anyone who desires to succeed
in business whatever the scale of the enterprise. Cash management is therefore the handling of
the movement of money in and out of a business which involves the cash the business uses to
provide goods and services.
In addition, zimmere (2008) defined cash management as the process of forecasting, collecting,
disbursing cash, investing, and planning for cash a company needs to operate smoothly. He
further added that cash management is vital because it’s most important yet least productive asset
that a small business owns. Therefore a business must have enough cash to meet its obligation or
declared bankrupt. Creditors, employees and lenders expect to be paid on time and cash is the
required medium exchange.
Further Pandey, (1998) defines cash management as the process which is concerned with
management of cash flows into and out of the business, cash flows within the firms and cash
balances held by the firm. Therefore, cash management involves collection, concentration and
disbursements of cash including; measuring the level of liquidity, managing cash balances and
short term investments.
Kakuru, (2007) asserts that sales generate cash, which has to be disbursed out. The surplus cash has to be
invested while the deficit has to be covered through borrowing. Thus cash management seeks to
accomplish two cycles at minimum costs and at the same time to achieve liquidity and control. However
all these depend on whether there are investments opportunities. And Ross et al (1988) explained that
6
cash management involves three steps; Determine appropriate cash balance, collecting and disbursing
cash efficiently and investing “excess cash in marketable securities”.
2.2 The key to effective cash management in small business enterprises
According to Billy M (2013), Cash Management is necessary for anyone who desires to succeed
in business; therefore it’s the primary indicator of a business health.”The term refers to the
process in which cash flow is monitored, analyzed, and adjusted within a business setting”. He
further stated that there is nothing trivial in managing cash flows in a business. Indeed, industry
analysts, experienced business owners, and consultants have often pointed out that cash
mismanagement is the biggest failure in small business ventures.
2.2.1Cash flow
This refers to the flow of cash into or out of the business at a given time period. It’s measured by
the money the business is paying to;-creditors/suppliers, rent, and salaries. It’s categorized into;
positive cash flow and negative cash flow.
a)
Positive cash flow; if the cash coming into the business is more than the cash going out of
the business, the company had a positive cash flow. A positive cash flow is good and the
only concern here is managing the excess cash prudently.
b)
Negative cash flow; If the cash going out the business is more than the cash coming into
the business, the company has a negative cash flow. It can be caused by a number of
problems that results into shortage of cash, such as too much or obsolete inventory, or poor
collections of accounts receivables. If the company does not have money in the bank or
can’t borrow additional cash at this point, it may be in a serious trouble.
2.2.2
Techniques for improving cash flow
To improve cash flow ,the firm should consider; sell for cash or credit card rather than on terms,
if your firm practices permit, establish good credit policies, if it sells on term, bill promptly and
before customer check writing off, age accounts receivables monthly, follow defined collection
methods, add late charges and fees when possible, pay bills only on due date, unless there is a
discount for early payment, spread payments to your suppliers out over the month, if possible
7
tighten customer credit requirements, monitor your inventory to minimize the amount you keep
on hand(but also make certain that the business has what it needs at all times),clear slow moving
items out at cost, lease instead of purchase equiptments,pay the minimum estimated amount of
tax, make prompt bank deposits, put excess cash surplus
into interest-bearing accounts
whenever feasible, time your equiptments,increase sales and prices if possible.
2.3 Cash planning
According to kakuru (2005), cash planning is the preparation of cash receipts and payments so as
to give an idea of the business future financial requirements. He further noted that cash planning
helps the financial manager to; have an insight into the financial needs of the business, formulate
policies to deal with cash balances (whether surplus or deficits), evaluate impact of future
business decisions on the liquidity positions of the business. Therefore a cash budget is the most
significant device to plan for and control cash receipts and payments.
A cash budget is the summary statement of the firm’s projected time period. This information
helps the manager plan for the business more effective and efficiently.
2.4 Managing cash shortages
Cash flow shortages are challenge for many small businesses. One way to relieve the pressure for
cash is through better management of company receivables. Here some of the ways to tighten
control over cash.
2.4.1 Offer discounts
May offer discounts for invoices paid within a certain time frame. One common offer is a 2%
discount if an invoice is paid within 10 days.
2.4.2
Keep in Touch.
This can be through follow up on unpaid invoices. Your customer will quickly size you up as to
whether or not you are someone who expects to get paid. When prioritizing their payment
schedule, your customers are more likely to put you at their head of the list if you have a
reputation for following up on a regular basis.
8
2.4.3 Time your invoices.
Make it a policy to never let a job or product leave your business without an invoice. It may
seem like an inconvenience, but your collection rate will improve dramatically.
2.5 Cash control system.
This entails the overall attitude, awareness and action of management regarding the control
system and its importance in the entity. The control system has an effect on the effectiveness of
the specific procedures. A strong control system like, one with tight budgetary controls over cash
received, cash banked, cash cheques, and effective control of cash balances brought down.
However, a strong cash control system does not by itself ensure effectiveness of cash control,
factors reflected in the control system includes; management philosophy, operating styles, the
entity’s organizational structure and methods of assigning authority and responsibility.
2.6 Cash management policies.
These are set of guide lines by the business to ensure that it has optimal cash balances at any
time. The organization seeks to match the cash receipts and disbursements so that there is no
redundant surplus cash balances or potentially establishing cash benefits(Kakuru,1993).The
policy actions help in achieving a match between cash receipts and disbursements by; Ensuring
efficient management of cash receipts and disbursements, Advance cash planning so that the
organization is not overwhelmed by un anticipated movements in cash flows, and Investment of
surplus cash to earn return on planning deficit in advance.
2.7 Performance of small and medium enterprises
SME’s contribute greatly to the economies of all countries; regardless of their level of
development. About 80% of labor force in Japan and 50% of workers in Germany are employed
in the SME Sector. With respect with developing countries and according to the ILO/JASPA
(1998), the sector made significant contribution to the GDP of Uganda (20%), Kenya (19.5%)
and Nigeria (24.5%).
According to keough, More than 50% of SMEs fight an uphill battle from the start and fail in the
first 5 years. This is so common among Ugandan small businesses, as most of them never
celebrate their first anniversary. Implying that, for over 10,000 people who start a business, 40%
9
fail within a year and 80% of business within 5 years. This is attributed towards; lack of
managerial training and experience, inadequate education and skills, limited access of credit
facilities ignored to finance their business etc.
According to the research carried out by Kazooba, (2006) about the causes of business failures in
uganda, He noticed that the prime causes includes; Inadequate and lack of capital, Increased
taxes, managerial problems, poor record keeping, family situations, Inadequate control over
inventory, load shedding etc were among the key factors identified.
The latest statistics published by Small Business Administration (SBA) shows that 7/10 new
employer establishments survive at least 2 years and 51% survive at least 5 years. This is a far
cry from previous long held belief that 50% of businesses fail in the 1st year and 95% fail within
5 years. Soaga, (2012) further indicated that out of 82% of US small business failures are due to
poor cash management. Out of 2,000 small businesses studied, 68% don’t perform cash flow
analysis at all. He further noted that cash is required ignored to meet vital purposes of
transaction, precaution, and speculation .Therefore organization should be able to pay for
required goods and services as the need arises or as many successful, growing and profitable
businesses fail and becomes insolvent as they don’t have adequate cash to meet the need of their
business with a blooming state volume.
2.8 Factors that may lead to business failure
According to research carried out by Kazooba,(2006) about the causes of small business failure
in Uganda, He noted to be; lack of capital, increased taxes, low sales, management problems,
poor record keeping, inadequate control, lack of business plan etc were some of the key points
identified.
a)
Poor management; new business owner frequently lack relevant business and
management experience in areas such as finance, purchasing, selling, production and
hiring and managing employees. Unless they recognized what they don’t do well, and
seek help etc in order to succeed and be successful.
b)
Insufficient capital; a common fatal mistake for many failed businesses is having
insufficient operating funds. Business owner underestimate how much money is needed
and they are forced to close before they even have had fair chance to succeed. They
10
also may have un realistic expectation of incoming revenues from sales. Therefore it’s
imperative to ascertain how much money your business will require, not only the
starting costs, but the cost of staying in the business which is to be considered most
important, and finally over expansion of the business are some of the leading cause of
business failure. Over expansion often happens when business owners confuse success
with how fast they can expand their business. A focus shows on slow and steady
growth is optimum. Many SMEs bankruptcy has been caused by rapidly expanding
business.
c)
Lack planning; anyone who has ever been in charge of a successful event knows that if
they we’re not careful, methodical, strategic planning and hard work, success would not
have followed them. The same applies to most business successes.
2.9 Relationship between cash management and growth of a business
Cash management is a broad term that refers to the collection, concentration, disbursement of
cash. The goal is to manage the cash balance of an enterprise in such a way as to maximize the
availability of cash not invested in fixed assets or inventories in such away to avoid the risk of
insolvency (Kono, C, 2004). According to Meredith, (1986) cash flow is said to be the life blood
of any business. she added that, comprehensive guide in handling and managing your cash more
effectively is; getting the money from customer sooner, paying bills at the last possible moment,
managing accounts payables and receivables and inventory more effectively etc are some of the
key points she noted.
Halloran,(1994) and Kakuru,(2005) asserted that, one might be led to believe that profit is the
main objective in business but in reality it is the cash flowing in and out of a business which
keeps the door open. They added that, cash flow is more dynamic in the sense that it’s concerned
with the movement of money. Therefore, you need to be able to maintain enough cash on hand to
run the business, but not so much as to forfeit possible earnings from other uses. Therefore,
managing cash flow which is a struggle for many business owners involves; investing and
planning for the cash a company needs ignored to operate smoothly. A business must have
enough cash to meet its obligations as they come due or it will experience bankruptcy.
11
A successful business conducted by H.G Soaga, (2012) indicated that 82% of US small business
failures are due to poor cash management. Out of 2,000 small businesses studied, 68% don’t
perform cash analysis at all. He further noted that cash is required in order to meet vital purposes
of transaction, precaution, and speculation. Therefore organization should be able to pay for
required goods and services as the need arises or as many successful, growing, and profitable
businesses fail and becomes insolvent as they don’t have adequate cash to meet the need of their
business with a blooming state volume.
Small business owners don’t understand that if they are successful, stock and receivables will
increase faster than profits can fund them. Therefore the resulting cash crises may force an
entrepreneur to lose equity control of the business or ultimately declare bankruptcy and close.
Therefore every entrepreneur must fulfill the five (5) key cash management roles in order to
ensure survival of their business and these are; cash finder, cash planner, cash distribution, cash
collector, and cash conserver.
According to Vuong, (1998) noted that, the key to survival of any business is cash flow because
if cash does not flow into business at an adequate rate to maintain level of working capital, the
business will struggle to survive implying if there is no positioning difference between inflow
and out flow, then the business can’t pay its bills faster than their working capital would allow.
2.10 Conclusion
Cash management is typically concerned with all firms in this dynamic environment whether
product or service oriented. It should be noted that there is a relationship between cash
management and growth of small scale business enterprises.
Therefore cash management is particularly important for new and growing business”. Therefore
it is there life blood” (Pandey, 1995)
12
CHAPTER THREE
METHODOLOGY
3.0 Introduction
This chapter presents the entire design of the study and how it was carried out. It includes the
study design, sample design, the instruments, procedures and method of data analysis used.
3.1 Study Design
The study is quantitative in nature. In particular it involved a descriptive and explanatory study
design to determine the impact of cash management on growth of small scale business
enterprises.
3.2Population size
The study had 140 individuals comprising of business owners, employees, suppliers and
customers.
3.3 Sample size:
A sample size of 123 respondents will be selected from the total population of 140. These
comprised of 20 business owners, 60 employees, 40 customers and 20 suppliers.
3.4Sampling method
The researcher will use simple random sampling technique for selecting the respondents such
that elements of sample have an equal chance of being selected.
13
Fig.1 Table showing the sample size.
Population Category
Population Sample size Sampling techniques
Business owner
20
15
Simple random sampling
Employees
60
55
Simple random sampling
Customers
40
35
Simple random sampling
Suppliers
20
18
Simple random sampling
Total
140
123
3.5 Scope of study
3.5.1 Subject scope
The study will focus on the impact of cash management on growth of small scale business
enterprises, characteristics of variables and explaining the occurrence of the problem.
3.5.2 The geographical scope
The research will be limited to zombo-district as a geographical area and paidha town council as
a case study.
3.6 Data collection techniques and instruments
3.6.1Data collection technique
The researcher will use both primary and secondary data for research study.
3.7Data sources
3.7.1Primary Data
This involves collecting data from the fields using tools like observation and face to face
interview.
3.7.2Secondary Data
This is done through reading the existing literatures on cash management on growth of small
scale business enterprises for example internets, magazines, journals and other relevant books.
14
3.8 Data collection instruments
Data will be collected from field by use of a combination of many data collection instruments
such as observation and interview. This enables the researcher to collect information with short
period of time.
3.9 Data processing analysis
Raw data will be edited and then analyzed to produce appropriate information. Quantitative
analytical techniques will be used to analyze data. The analysis of the data will be informed of
tables, percentages, figures and detailed description will be used.
3.10 Book ethical consideration
That is letter of authority will be obtained from makerere university business school and the
researcher will proceed with data collection. All will be treated with confidentiality.
3.11 Validity and reliability of data
Data collection will be discussed with colleagues and the supervisors and later presented for
accuracy. The validity will be done to ensure the relevance of the instruments and that of the
research. The participants will be drawn from the cross section of the people who are directly
responsible for operating the above stated enterprise. The sample is expected to be adequate and
representative and more than one instrument shall be used to collect data for the study.
3.12 Limitations of the study
The researcher faced the following challenges during the study;
a)
The time frame given for the entire research is limited.
b)
Financial constraints i.e. sources of finance was inadequate for the entire study.
c)
Unwillingness of respondent to give information at the required time hence posed
limitations for the study.
15
References

Davidson, Jeffrey p, and Charles W.Dean.cash traps; small business secrets for
reducing costs and improving cash flow.

Element of Financial Management, Financial management series, Vol.6
(Chicago; Municipal finance officers Association, (1980).

H.G Soaga, (2012) Basic cash management and reporting, Scott Richards, (2014)
small business cash flow strategies for making your business a financial success.

ILO/JASPA, 1998, African Employment Report.ILO, Geneva Switzerland.

Introduction to corporate finance, William L, Megginson, Brian M, Lucy, Scott
B.Smart (2008)

Kakuru (2007); Finance Decisions and the Business, Fountain Publishers Ltd.

Keough J, Tips for surviving an economic slowdown for small businesses, systems
support Inc DRJ’S Small business center, 2002.

Khan J Jawaid G (2004) clusters and Entrepreneurship Implication for Innovation
in developing economy.

T.C Kazooba,causes of small business failure in Uganda(2006)

Ross, W, Corporate finance, principals of investments, financing and valuation,
Stanley Thorns (publishers) Ltd, 1995.

Jim Riley, 23 September 2012, a good cash management guide Business journal.

MFPED
(2008)
National
Budget
Frame
work
paper
FY2009/10-
FY2012/13.Ministry of finance, planning and economic Development, Kampala.

Mc Mahon RGP Holmes s, Hutchinson PJ, Forsaith DM (1993).Small Enterprise
Financial management .Theory and practice, Sydney, News south Wales.
Harcourt Brace.

Meredith D (2003) does working capital in an emerging economy? A qualitative
inquiry Emerald Group publishing.

UBOS (2003) A Report on Ugandan economy business registers.

UIA (2008) Uganda Development of a national Micro, small and medium
enterprises (MSME) policy and strategy, July 2007.
16
APPENDICES
APPENDIX I: TIME FRAME FOR WRITING THE RESEARCH PROPOSAL
ITEM
ACTIVITIES
TIME FRAME
CHAPTER ONE
 Back ground
March 2014
 Statement of the
problem
 Purpose of the study
 Research objectives
 Significance of the
study
CHAPTER TWO
 Literature review
March-April 2014
CHAPTER THREE
 Methodology
April 2014
APPENDIX II: BUDGET AND EXPENDITURE FOR THE PROPOSAL WRITING
PROCESS
S/No
1
2
3
4
TOTALS
ITEM
Stationary
Secretarial services
Transport/Air time
Miscellaneous
TOTAL
35,000
55,000
20,000
100,000
210,000
17