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Integrating taxation, financial controls, and risk management: a comprehensive model for small and medium enterprises to foster economic resilience


Article Information

Title: Integrating taxation, financial controls, and risk management: a comprehensive model for small and medium enterprises to foster economic resilience

Authors: Abiola Oyeronke Akintobi, Ifeanyi Chukwunonso Okeke, Olajumoke Bolatito Ajani

Journal: International journal of management & entrepreneurship research

HEC Recognition History
No recognition records found.

Year: 2024

Volume: 6

Issue: 12

Language: en

DOI: 10.51594/ijmer.v6i12.1746

Categories

Abstract

Small and Medium Enterprises (SMEs) are vital contributors to economic growth, job creation, and innovation, yet they face persistent challenges in maintaining resilience amidst dynamic and uncertain environments. This paper proposes an integrated model that combines taxation, financial controls, and risk management as a comprehensive framework to enhance SME resilience. Theoretical insights are provided on the interdependencies of these elements, highlighting how their integration can optimize resource utilization, ensure regulatory compliance, and mitigate risks. Practical applications of the model are explored, emphasizing its scalability and adaptability to diverse economic contexts. The role of government policies, private sector initiatives, and technological advancements in supporting SMEs is discussed, with actionable recommendations for stakeholders to facilitate implementation. By adopting this holistic approach, SMEs can achieve operational efficiency, financial stability, and long-term sustainability, ultimately strengthening their contributions to global economic resilience.
Keywords:  SME Resilience, Tax Compliance, Financial Controls, Risk Management, Economic Sustainability, Integrated Model.


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