Involving the accounting profession in the development of financial management skills of micro‐enterprise owners in South Africa

Abstract

In order to be successful, micro‐enterprise owners in South Africa face several management challenges. To overcome these challenges it is crucial that they possess sufficient financial management skills to ensure business survival and growth. This article focuses on determining the extent to which the critical financial management skills that micro‐enterprise owners in South Africa require differ from those they possess, in order to identify specific interventions to develop the skills that are lacking. It was found that most micro‐enterprise owners do not possess the critical financial management skills required. Recommendations are made on how members of the accounting profession could become involved in developing these skills.

Citation

Schwarze, C.L. (2008), "Involving the accounting profession in the development of financial management skills of micro‐enterprise owners in South Africa", Meditari Accountancy Research, Vol. 16 No. 2, pp. 139-151. https://doi.org/10.1108/10222529200800017