Cash Management Practices of Small Business Owners: A Study in Urban Area of Siliguri Subdivision

To the socioeconomic progress of India small business/street vendors play a great role. They often suffer an unceasing problem of cash shortage and cash management is very important to the continued existence and development of small businesses/street vendors(SBs/SVs). In this paper, an attempt has made to study the cash management practices by small businesses/street vendors (SBs/SVs) operating within Siliguri city and its environs. The results showed that the majority of respondents had no knowledge of cash control procedures. It was apparent in the study that majority of the sample studied did not recognize the significance of cash management and as a consequence did not practice any formal system of the concept The absence of suitable cash management procedures had contributed significantly to the contact of these enterprises to incline to cash fraud and other business growth difficulties. The study recommended that there is need to commence the programme on capability building, training and sensitization of SBs/SVs on cash management practices.