Timely Business Record Management Keeps a Business Safe An Opinion from Small and Medium Enterprises

Abstract

The delayed recording of transactions creates risk for small and medium entrepreneurial businesses. This practice may become the cause of errors, and fraud in business records may suffer in the future. The study aims to create awareness among entrepreneurial businesses. The data was collected from 120 respondents by convenience sampling method. Used a well-developed and verified scale closed-ended questionnaire for primary data collection. Used SPSS and descriptive statistics for data analysis. The results showed that many irregularities occurred in small and medium entrepreneurial businesses due to the delayed recording of business transactions. Pointing out the delayed recordings of business transactions practice in small and medium entrepreneurial businesses is a grey area and is a novelty for this research. The guidelines may be followed by other small and medium enterprises for keeping them safe from irregularities.