Assessing the Implications of Book-Keeping and Payment Culture on Sustainable Female Entrepreneurship Development in Osun State, Nigeria

This study examined practice of book-keeping system and prevailing payment culture amongst rural female entrepreneurs involved in Garri and Palm oil processing. This was with a view of examining their impact on achieving sustainable development of small-scale enterprises among rural women. The study was carried out in six purposively selected local government areas of Osun State in Nigeria. Using a multi-stage sampling technique, a structured questionnaire was administered on 265 women, and six Focus Group Discussions (FGDs) were organized in the selected rural settlements. Result revealed three modes of payment for goods sold: cash, creditand an arrangement between the buyer and entrepreneur known as ’agbaale’. Additional findings identified poor practice of payment modes and lack of book-keeping culture amongst the rural female entrepreneurs as major obstacles for business expansion as well as sustainability. It was concluded that there is need for regular communal training on rudiments of business practices, management and accounting principles, particularly, among the rural women to overcome the obstacles to their sustainable development.