According to the studies, lack of finance is the most dominant constraint of MSEs in developing countries. Hence, management of financial resource is critical for small business development. This study aimed in assessing the impact of financial management practice on growth and development of MSEs. Survey data was obtained from 146 MSE owners through questioner. Sample units were selected using convenience sampling method. Once data is collected, a Descriptive and Explanatory method of data analysis was implemented. Accordingly, despite strong relationship found between financial management and growth & development, poor financial management practice which strongly affect performance of MSEs was observed.
MSE, Financial Management, Growth & Development