Financial Fitness for Small Businesses in Bayelsa State: Role of Cost Management Strategies in Driving Revenue Growth

This study examines the relationship between cost management strategies and revenue growth of small businesses in Bayelsa State. Specifically, it investigates the impact of Activity-Based Costing (ABC), Cost Reduction Strategies, and Pricing Decisions on revenue growth. A quantitative research design was adopted, and data were collected from 228 small business owners using structured questionnaires. Descriptive statistics, Pearson correlation analysis, and hypothesis testing were employed to analyze the data. The correlation results showed a significant positive relationship between Activity-Based Costing and revenue growth (r = 0.643, p = 0.000), Cost Reduction Strategies and revenue growth (r = 0.839, p = 0.000), and Pricing Decisions and revenue growth (r = 0.641, p = 0.000). These findings suggest that cost management strategies play a crucial role in driving business performance. Based on these results, the study recommends that small businesses adopt structured cost management practices, such as ABC and expense tracking, to enhance operational efficiency. Additionally, businesses should implement datadriven pricing models and regularly review their pricing strategies to remain competitive. The study also highlights the need for government and financial institutions to provide financial support and capacity-building programs to help small businesses implement effective cost control measures.