BUSINESS CONSULTANCY SERVICES AND FINANCIAL PERFORMANCE OF MICRO, SMALL MEDIUM ENTERPRISES (MSMES) IN AWKA-SOUTH LOCAL GOVERNMENT

Abstract

The study investigates effect of business consultancy Services on financial performance of micro, small and medium enterprises. Specifically, the study examines the extent MSMEs seeks the services of business consultancy, the roles of business consultancy on financial performance of MSMEs, how business consultancy enhance financial performance of MSMEs, the challenges facing business consultancy and the relationship that exist between business consultancy and financial performance of selected MSMEs in Awka-south
Anambra state. The study was anchored on functionalist theory by werr and styhre(2003). The study adopted survey research design and a sample of 204 was determined using Taro Yamane. Primary source of data was generated through structured questionnaire. The
collected data were coded and presented using simple frequency and percentage tables. Data relating to the study were analyzed using mean while hypothesis was tested using simple regression with statistical packages for social sciences. The findings indicated that there is a statistically strong positive significant effect of business consultancy on financial performance of MSMEs in Awka-South Anambra state. The study recommended that there should be concerted efforts to promote the availability and accessibility of business consultancy services to MSMEs. Training and capacity building programs should be organized to enhance the skills knowledge of business consultant. Consultants should customize their services to meet the specific needs and challenges. There should be mechanisms in place to monitor and evaluate the effectiveness of business consultancy services in improving the financial performance.