Chiliya W., Rungani E.C., Chiliya N., Chikandiwa C.T.
Department of Business Management, University of Fort Hare Alice, P.B. X1314, Eastern Cape, South Africa; University of the Witwatesrand School of Economics and Business Sciences, Private Bag 3, Wits, South Africa; University of KwaZulu-Natal, Graduate School of Leadership, Westville Campus, Private Bag, Durban, South Africa
Chiliya, W., Department of Business Management, University of Fort Hare Alice, P.B. X1314, Eastern Cape, South Africa; Rungani, E.C., Department of Business Management, University of Fort Hare Alice, P.B. X1314, Eastern Cape, South Africa; Chiliya, N., University of the Witwatesrand School of Economics and Business Sciences, Private Bag 3, Wits, South Africa; Chikandiwa, C.T., University of KwaZulu-Natal, Graduate School of Leadership, Westville Campus, Private Bag, Durban, South Africa
Risk management has become the driving force for business success due to the everchanging business environment. The purpose of this study is to investigate the impact of the level of awareness and use of risk management techniques on the financial performance. The data was collected from 82 of Small Medium Enterprises (SMEs) owners/managers in the construction industry in Eastern Cape, South Africa. The results show that the level of awareness and use of risk management techniques have a significant impact on the financial performance of SMEs in the construction industry. The study recommends that the government, tertiary institutions, construction industry development board, and SME owners or managers in the construction industry should work together in improving the level of awareness and use of risk management techniques. © 2015 Virtus Interpress.All rights reserved.