IDEAS home Printed from https://ideas.repec.org/a/cwk/ajocsk/2024-59.html

Financial Capability's Contribution to Entrepreneurial Success Among Lusaka, Zambia's Informal Traders

Author

Listed:
  • Kampamba Chibesa

    (The University of Zambia, Institute of Distance Education, Lusaka, Zambia)

  • Austin Mwange

    (The University of Zambia)

Abstract

Financial capability is a crucial factor influencing entrepreneurial success, especially in the informal sector, where access to financial resources, literacy, and business acumen profoundly affect business performance. In Zambia, informal traders represent a substantial segment of the economy yet frequently encounter financial exclusion and knowledge deficiencies that impede their business development. This study investigates the influence of financial competence on entrepreneurial success among informal traders in Lusaka. The study examines financial self-efficacy, financial literacy, access to financial services, and financial behavior as essential elements of financial competence through a comprehensive literature analysis. The results indicate that enhanced financial literacy, access to finance, and improved financial practices contribute to superior entrepreneurial performance. The study indicates that financial capacity is a crucial catalyst for sustainability and business expansion among informal traders, advocating for financial education initiatives and inclusive financial laws to bolster economic participation.

Suggested Citation

  • Kampamba Chibesa & Austin Mwange, 2024. "Financial Capability's Contribution to Entrepreneurial Success Among Lusaka, Zambia's Informal Traders," African Journal of Commercial Studies, African Journal of Commercial Studies, vol. 5(4).
    • Handle: RePEc:cwk:ajocsk:2024-59
    DOI: 10.59413/ajocs/v5.i.4.14
    as

    Download full text from publisher

    File URL: https://ijcsacademia.com/index.php/journal/article/view/198
    Download Restriction: no
    File URL: https://libkey.io/10.59413/ajocs/v5.i.4.14?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    More about this item

    Keywords

    ;
    ;
    ;
    ;
    ;
    ;
    ;

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:cwk:ajocsk:2024-59. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Dr. Charles G. Kamau (email available below). General contact details of provider: https://ijcsacademia.com/index.php/journal .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.