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Optimal application and commitment toward financial management practices enhance organization performance. This study aims to assess the influence of financial management practices on organizational performance of small- and medium-scale enterprises.

Data were collected from 45 small-sized and 72 medium-sized firms. Data supported the hypothesized relationships. Construct reliability and validity were established through confirmatory factor analysis. The conceptual model and hypotheses were evaluated by using structural equation modeling.

The results indicate that working capital significantly influenced organizational performance. Capital budget management significantly influenced organizational performance. A non-significant influence of asset management on organizational performance was observed.

The generalizability of the findings will be constrained due to the research’s SMEs focus and cross-sectional data.

The study’s findings will serve as valuable pointers for stakeholders and decision-makers of SMEs in the development of well-articulated and proactive financial management systems to ensure competitiveness, sustainability, viability and financial competences.

The study adds to the corpus of literature by evidencing empirically that financial management practices significantly influenced SMEs’ performance.

Despite the world’s effort in grappling with the coronavirus disease that has affected many sectors globally, knowledge and research on the COVID-19 pandemic as well as on the halal food and beverage industry remain limited, particularly in Brunei Darussalam. Hence, the purpose of this paper is to investigate the challenges that small- and medium-sized enterprises (SMEs) in the halal food processing industry face amid the COVID-19 pandemic in the sultanate.

A qualitative approach based on four semi-structured interviews was employed using a purposive sampling of managers and business owners of the manufacturing SMEs. Several government agencies were also interviewed to further supplement the findings. This paper also uses the support from a review of relevant academic journal articles, and other secondary data including newspapers and websites, to uncover the hindering factors surrounding the phenomenon.

Four themes emerged, covering four overarching and inter-related challenges including limited production; closure of retail stores; delay in exporting; and less sales to cover overheads.

This study positively contributes to the understanding of the challenges that the COVID-19 pandemic has brought into the country as well as adds and enriches the halal research sphere. Several implications for the SMEs, policymakers, as well as academic scholars, and limitations are also discussed.

To the best of the authors’ knowledge, this study is among the first to investigate the halal food processing industry in Brunei Darussalam especially, during the time of uncertainties such as the COVID-19 era. The paper’s value also lies in addressing the gap that there is a need to study on the impact of this outbreak on SMEs in the developing countries, inclusive of Brunei Darussalam.