Factors Affecting the Mode of Records Keeping in Small Scale Enterprises: A Case Study of SMEs in Wandegeya
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The objective of this study was to examine the factors affecting the mode of records keeping methods in small-scale enterprises. Primary data was collected from 96 individuals aged 18 and above in Wandegeya in Kampala district, Uganda. The analysis was done using frequency distribution and logistic regression in STATA 13.0. According to the study results at univariate analysis, there were 48 (50%) male respondents and 48 (50%) female respondents, with tertiary/university as the highest level of education totaling to 57 (59.38%). Most of the respondents were earning 1000,001 and above monthly income, the commonly used method of records keeping methods used by SMEs in Wandegeya was paper-based 52 (54.17%) while the other way was the computerized 44 (45.83%). At bivariate and multivariate analysis the mode of record keeping was directly influenced by income level (p-value=0.000), marital status (p-value=0.000), computer knowledge (p-value=0.006), age (p-value=0.001) and type of the business (p-value=0.001). Female individuals were found to be less likely to use the paper-based mode of record keeping (OR=0.7142857). Individuals with age of 55 and below are more likely to use paper-based mode of record keeping (OR=0.0714286). Similarly, single individuals (OR=21.60) were more likely to use paper-based mode of record keeping. Individuals with mobile money (OR=7.366667) and stationary (OR=17.00) were more likely to use the paper-based mode of record keeping. The findings of the study shows that there is need for Small and Medium Scale businesses to concentrate more on developing an effective and more efficient electronic type of records classification and storage. The findings also show that there is a need for sensitizing small-scale business owners about the importance of good record keeping.