REVIEW OF BUSINESS DOCUMENTS USED BY SMALL SCALE ENTERPRISE FOR SUSTAINABLE RATE OF TURNOVER IN ASABA, DELTA STATE

Abstract

The purpose of this study is to review business documents used by small scale enterprise for sustainable rate of turnover in Asaba, Delta State. Two research questions were raised to guide the study. Survey research design was adopted as a plan of action in the conduct of the study. The study was carried out in Asaba, Delta State with a population of 1,072 registered business enterprises in Asaba. Convenient sampling technique was used to sample a total of 107 enterprises, representing 10% of the population of registered business enterprise in Asaba. The instrument used for data collection was a structured questionnaire. The questionnaire was validated by two experts. The reliability of the instrument yielded a coefficient of 0.86 when analyzed using Spearman’s Rank Order correlation. Validated copies of the questionnaires were distributed to the respondents through the help of two experienced research assistants. Out of the 107 instruments distributed, only 82 were retrieved indicating 85% retrieval rate. Data collected from the respondents were analyzed using mean and standard deviation. Findings revealed that business plan records, transactional documents with clients, financial documents to manage the business, functional e-mail records, business license records, business reports for conveying information are business documents used by small scale enterprise for sustaining rate of turnover. It was recommended among others that small scale businesses should ensure to keep all relevant documents for future purpose, as this will sustain the rate of turnover.