Cash Flow Management Challenges Faced by Small Family-Owned Businesses in Zimbabwe
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| Format: | research article |
| Language: | English |
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Binus Journal Publishing
2023
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| Online Access: | https://cris.library.msu.ac.zw//handle/11408/5446 https://doi.org/10.21512/bbr.v13i3.8531 |
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| author | Mufaro Dzingirai Rodgers Ndava |
| author2 | Midlands State University |
| author_facet | Midlands State University Mufaro Dzingirai Rodgers Ndava |
| author_sort | Mufaro Dzingirai |
| collection | DSpace |
| description | Abstract |
| format | research article |
| id | ir-11408-5446 |
| institution | My University |
| language | English |
| publishDate | 2023 |
| publisher | Binus Journal Publishing |
| record_format | dspace |
| spelling | ir-11408-54462023-03-21T16:07:25Z Cash Flow Management Challenges Faced by Small Family-Owned Businesses in Zimbabwe Mufaro Dzingirai Rodgers Ndava Midlands State University Midlands State University cash flow management small family-owned businesses Zimbabwe Abstract Cash flow management has increasingly become a concept of interest in the context of small family-owned businesses in recent years. It is worth noting that the growth rate of family-owned businesses has continued to rise in recent years. The research aimed to explore the cash flow management challenges faced by small family-owned businesses in Zimbabwe. The research philosophy of constructivism was employed as it was more appropriate for explorative qualitative study. With the adoption of a qualitative approach, in-depth interviews and Focus Group Discussions (FGDs) were conducted. The research was conducted on 12 owners of small family businesses from diverse sectors of the economy. Then, thematic analysis was applied to analyze data from in-depth interviews and FGDs. The results show that small family-owned businesses face a myriad of cash flow management challenges. Those challenges are poor payables and receivables management, inadequate cash balances, lack of financial experts, absence of cash budgets, bad debts, cash instability, and Unhu/Ubuntu culture. The research outcomes have practical implications for financial institutions and governments when offering financial management capacity-building workshops. Interestingly, the management of family businesses can make evidence-based decisions related to cash management practices and cash operating cycles. The research can immensely enrich the extant mainstream literature on the family business. 13 3 293 302 2023-03-21T16:07:24Z 2023-03-21T16:07:24Z 2022 research article https://cris.library.msu.ac.zw//handle/11408/5446 https://doi.org/10.21512/bbr.v13i3.8531 en Binus Business Review 2087-1228 open Binus Journal Publishing |
| spellingShingle | cash flow management small family-owned businesses Zimbabwe Mufaro Dzingirai Rodgers Ndava Cash Flow Management Challenges Faced by Small Family-Owned Businesses in Zimbabwe |
| title | Cash Flow Management Challenges Faced by Small Family-Owned Businesses in Zimbabwe |
| title_full | Cash Flow Management Challenges Faced by Small Family-Owned Businesses in Zimbabwe |
| title_fullStr | Cash Flow Management Challenges Faced by Small Family-Owned Businesses in Zimbabwe |
| title_full_unstemmed | Cash Flow Management Challenges Faced by Small Family-Owned Businesses in Zimbabwe |
| title_short | Cash Flow Management Challenges Faced by Small Family-Owned Businesses in Zimbabwe |
| title_sort | cash flow management challenges faced by small family-owned businesses in zimbabwe |
| topic | cash flow management small family-owned businesses Zimbabwe |
| url | https://cris.library.msu.ac.zw//handle/11408/5446 https://doi.org/10.21512/bbr.v13i3.8531 |
| work_keys_str_mv | AT mufarodzingirai cashflowmanagementchallengesfacedbysmallfamilyownedbusinessesinzimbabwe AT rodgersndava cashflowmanagementchallengesfacedbysmallfamilyownedbusinessesinzimbabwe |