Qhawekazi Memani – 05 February 2021
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The authors recently published in the Italian journal Ponte. The title of their work, “Assessing the Financial Literacy of Informal Business in South Africa” is a ground-breaking collaboration between the Department of Accounting and Centre for Academic Development. The project came into existence while the trio were studying towards their Postgraduate Diploma in Higher Education at VUT.
The research is important because informal business activities have been identified as playing a pivotal role in the growth and development of countries across the globe. However, small and medium business enterprises in the South African informal business sector are perceived to be failing due to a combination of low financial literacy levels and ineffective use of management accounting techniques such as budgets and pricing tools.
The study recommended that government and the non-governmental sector collaborate to ensure training initiatives are rolled out.