Thesis (M.M.)--University of the Witwatersrand, Faculty of Commerce, Law and Management, Wits Business School, 2016. / Alternative funding models for small and medium sized enterprises (SMEs) are more often than not reviewed from the perspective of the entrepreneur, in line with the need for funding in each growth phase. This research addresses the problem of funding availability for SMEs by interrogating what funding models are viable from the supply side through the growth phases of a small business in South Africa. The variables employed are loan amount advanced to the small business sector, risk appetite structures and measures, such as size, product, lending rate and sector. Using individual firm data in a cross section regression framework, the results of the study indicate a positive relationship between the size of the firm and the loan amount advanced. Evidence is presented that suggests that macroeconomic factors, such as the interest rate, do not have significant influence on lending. Further, and in confirmation of previous literature, this study indicates that there is a general lack of knowledge on how to fund small businesses in South Africa, and this research contributes to the existing literature by providing insights on the alternative models used by lenders to supply funding to SMEs. / GR2018

A county's level of development is measured by poverty, unemployment and inequality. Strategies and development plans must address these three elements. The informal sector is an important part of the economy, contributing to the social and economic development of countries. Despite its importance, the management of the informal sector has not taken central place in most countries, probably because there is still the subconscious belief that the sector will disappear if sufficient levels of growth are reached. The sector is still being viewed as temporary and transitional. Research has however shown that the sector is permanent, and that there are those who enter the sector by choice (voluntary informal employment) and those who participate in the sector involuntarily. Despite the reason for participation, the sector should be taken seriously as it continues to grow and is permanent. As a result of the permanent nature of the informal sector, debates have moved from focusing only on informal enterprises to include the workers themselves, thereby giving birth to the notion of informal economy. The most visible activity in the informal economy is street trading. Street trading is a source of livelihood for the majority of the urban poor, but if not properly managed, can be problematic. Actually, street trading is associated with various urban management problems such as crime, grime, dirtiness, and many other issues, in some instance badly affecting the ability of the formal sector to grow. Due to its direct effect on the formal economy and communities, as street traders use public space, the study focuses on the management of street vendors. The study argues that while it is true that street vendors are a contributing factor to most urban management challenges in urban areas, the main cause is lack of proper systems and processes designed to manage the sector. The study argues further that the problems associated with street vendors are a symptom of systematic problems in public institutions, especially municipalities that are mandated by the Constitution to manage street trading. It maintains that the majority of the problems associated with informal trading can be addressed by adopting relevant policies that would guide and delimit the actions and behaviours of both the public officials and the traders. Such policies should, however, not equate management to regulation as has been the case. The policies should instead be developmental in nature, thereby recognising and acknowledging that street trading is an important component of the economy. This is not an easy task. The most fundamental challenge is the conflicting objectives between the street vendors and the authorities. While the street vendors focus on their right to trade, the local authorities focus on the right to enforce safety and health regulations. It is therefore important for municipalities to adopt a balanced approach to street trading as a phenomenon. This fact is also exacerbated by local authorities' limited understanding of the size and the contribution of the informal sector generally, and street vendors in particular, to the economy. This results in the adoption of public policies, urban plans and other development plans that counter rather than support the informal economy. Another critical finding that emerged from the study is that street vendors are generally not organised, and therefore have limited bargaining power. Due to this fact, they are unable to participate in the decision-making processes of the authorities even when decisions that affect them are taken. Even in instances where there are trader's associations, it has been indicated that they are weak and unable to assert any influence. On the local authority's side, the lack of proper traders' organisational structures makes it difficult for the municipalities to engage them and jointly develop strategies that will enable the sector to grow and become sustainable. It is therefore important that the authorities play a critical advocacy role with regard to the issue of association. Although various organisations such as SEWA, StreetNet or WIEGO are present, this is at local level, and hence their effect has not been felt. Another element that has emerged is that street vendors are harassed and do not enjoy any benefits, even in areas where it is legal to engage in street trading. One contributing factor to this could be that the management of the sector is not properly institutionalised. The study argues that where proper institutional mechanisms are put in place, and roles clearly defined, the sector is better managed and supported. Singapore, for example, established a hawker's department to deal with issues of licensing, support, monitoring and personal hygiene. This approach enabled Singapore to manage the sector better. Analysis of the policies of various municipalities in South Africa indicated a shift in this regard. The municipalities analysed acknowledge the fact that management of the sector requires a multidisciplinary approach, and have attempted to clearly define the institutional model for managing the sector. The question, however, would be if the state of street vending in some of the cities continues as it is, whether the lack of effectiveness of the policies is due to lack of resources and capacity to implement such policies or whether the policies are not appropriate for the environments which exist. The conclusion arrived at indicates without any doubt that the informal economy is here to stay, and is a critical component of the economy. It is therefore important that like the formal economy that is regulated and protected, the informal economy, is managed in a way that can make it one of the levers to address poverty, unemployment and inequality. The study also concluded that the formal economy remains the backbone of the economy. As a result, the informal economy should not be regarded as a solution to the problems in the formal economy. Instead, the informal sector is complementary and supplementary to the formal economy. As a result, it is prudent to have proper polices and strategies that put the informal economy at the centre and not at the periphery of economic development. Indeed, such policies and strategies should not affect the formal economy negatively. The recommendations provided in the study indicate that when developing a policy for managing street trading, such a policy should be developed taking into account the various policy-making stages. The municipality should also conduct a thorough environmental analysis in order to determine the external and internal factors that will affect the policy in order to develop an implementable and effective policy. The study concludes that issues such as infrastructure provision, safety, organisation, proper institutional model and capacity-building are critical intervention mechanisms that can enable the municipality to manage street vending effectively. Once these issues are addressed, the municipality will be able to manage street trading effectively. / Thesis (Ph.D.)-University of KwaZulu-Natal, Westville, 2010.

This dissertation analyses the role of financial services in an attempt to understand how they might reduce the vulnerability to income risk for women street traders in Durban, South Africa. The street traders are exposed to income risks such as unpredictable markets, high levels of crime and lack of possibilities for business development. The stated hypothesis for this dissertation is that 'good' financial services may help poor individuals and households to better handle income risks and thereby lower the vulnerability to risks and reduce poverty. The access to financial services for the street traders in South Africa is rather limited and commercial banks are only willing to facilitate clients that have collaterals with an economic value. There are thus alternative financial institutions, such as microfinance organisations, that use social collateral like, for example, group-lending and frequent repayment schemes. This dissertation will discuss the use and impact of fmancial services on poverty reduction with a particular focus on a microfinance organisation and savings. The dissertation will consist of a literature review, a theoretical framework and an analysis of the findings from a case study. The literature review discusses the relation between risks, vulnerability, poverty and financial services in order to provide an introduction to the problem behind the stated hypothesis. The theoretical framework describes the cost of an imperfect market, why formal financial institutions fail the poor, solutions to the problem used by informal and microfinance institutions and the impact financial services have on poverty. The case study is based on a qualitative method through focus group discussions and individual in-depth interviews with clients in a microfinance organisation. To analyse the differences in saving behaviour and business related issues, the clients are divided into two groups with regards to how long they have been using financial services. One group consists of 'old' clients that have access and use the credit and deposit facilities accessible, and one group of 'new' clients that have just started and still have no access to the services. The findings show that 'old' clients have a higher level of income and more advanced businesses according to skill/capital intensity. Risk related to income and expenditures that the street traders mentioned are sensitive to the state of the economy, unbeneficial stock, weather conditions, seasonal trends, business agreements, crime and trade permits. Regarding savings, the street traders used a wide range of saving alternatives such as insurance schemes, bank accounts, money collectors, rotating credit and saving clubs and cash savings. There were thus a lack of 'good' saving opportunities and even the deposit schemes offered by the microfinance organisation was not used due to lack oftrust and accessibility. Both the 'old' and the 'new' clients were thus aware ofthe need of savings in order to protect themselves for future income and expenditure risks. The main conclusion is that the use of financial services through the microfinance organisation and other institutions may have helped the 'old' clients to develop their businesses and reach a higher income level. There is thus a lack of 'good' financial options for the street traders and their position is still very vulnerable. / Thesis (M.Dev. Studies)-University of Natal,Durban, 2003.

Submitted by Luiz Claudio Ferreira Sacramento Junior (luizclaudiosacramento@hotmail.com) on 2017-05-22T23:07:02Z No. of bitstreams: 1 Dissertation_final version.docx: 377515 bytes, checksum: c5d360cbf921b7c3982e47f2705d59f4 (MD5) / Approved for entry into archive by ÁUREA CORRÊA DA FONSECA CORRÊA DA FONSECA (aurea.fonseca@fgv.br) on 2017-05-23T19:21:16Z (GMT) No. of bitstreams: 1 Dissertation_final version.docx: 377515 bytes, checksum: c5d360cbf921b7c3982e47f2705d59f4 (MD5) / Made available in DSpace on 2017-05-30T18:56:11Z (GMT). No. of bitstreams: 1 Dissertation_final version.docx: 377515 bytes, checksum: c5d360cbf921b7c3982e47f2705d59f4 (MD5) Previous issue date: 2017-03-28 / This paper shows how information sharing mechanisms might enable Micro and Small Enterprises (MSEs) to increase their access to formal credit markets. Using a unique dataset provided by the Brazilian Central Bank and Ministry of Labor, a change is applied in the threshold of loans that must be reported and shared by all active financial institutions as a gradual increase in the available information on MSEs. Results suggest that borrowers that benefited by this change obtained more loans and smaller interest rates, and by building a good client pool ended up receiving smaller maturities. Firms were also less likely to delay repayments and present smaller loan losses. This evidence sheds light on information asymmetry and literature on financial inclusion by showing that information sharing mechanisms can improve the decision to offer credit, and MSEs can become less dependent of relationship lending to obtain loans. / Esse estudo mostra como mecanismos de compartilhamento de informação podem permitir Micro e Pequenas Empresas (MPEs) podem melhorar seu acesso a mercados de crédito formais. Utilizando uma base de dados única obtida junto ao Banco Central do Brasil e Ministério do Trabalho, uma mudança é aplicada no limite do valor de empréstimos que precisam ser reportados e compartilhados por todas as instituições financeiras ativas como uma mudança gradual na informação disponível sobre MPEs. Os resultados indicam que tomadores de empréstimo que se beneficiaram dessa mudança obtiveram mais empréstimos e menores taxas de juros, e por constituir um bom grupo de clientes acabam por receber menores vencimentos. As empresas são ainda menos prováveis de atrasar seus pagamentos e apresentam menores perdas aos bancos. As consequências desse estudo lançam luz sobre a literatura de assimetria de informação e inclusão financeira ao mostrar que mecanismos de compartilhamento de informação podem auxiliar na decisão de oferecer crédito e MPEs podem se tornar menos dependentes de empréstimos de relacionamento para obter empréstimos.

No description available.

Submitted in partial fulfilment of the requirements for the degree of Masters in Business Administration (MBA), Business Studies Unit--Durban University of Technology, 2008 / The ability of the South African Small Medium Enterprise Development Programme to promote economic growth and employment. The Department of Trade and Industry (DTI) offers the Small Medium Enterprise Development Programme (SMEDP) incentive grant programme to qualifying manufacturers in South Africa. The status of the progress of this incentive grant programme is unknown. The DTI alluded to an impact study in the 2004 DTI Annual Report but no further reference or publication of results of the impact study has been made. The objectives of the study are to investigate the following three criteria of the SMEDP and to develop benchmarks and recommendations for future incentive grants offered by the DTI. • Rationale for implementation of SMEDP; • Exploration of SMEDP merits; and • Measure of SMEDP success. The study is a secondary analysis design with both qualitative and quantitative components. The qualitative component allows the researcher to reflect on the process by which the incentive programme under investigation came into being, whilst the quantitative component allows for comment on the result of the process as per the markers developed in the qualitative component of the design. There were 152 sample cases used in the study. The outcome measures are the output measures stated in the Medium Term Strategic Plan which are: • The number of jobs sustained. v i • The number of jobs created. • The number of Greenfield’s projects supported. • The fixed investment in Rand terms. • The improvement in employment levels. The DTI achieved certain of the stated objectives. The empirical data analysed confirms the achievement of these objectives. There is scope for further empirical investigation for the future development of incentive grants. The contribution of the SMEDP to economic growth and employment growth is evident and such government interventions should be continued. The recommendations from the study include further investigation into the following areas to improve the benefits provided by manufacturing incentive programmes: • Limit the incentive to a specified Rand value per job created; • Volume driven turnover growth not price driven turnover growth; • The continued inclusion of expansions in future programme; and • Specified sector programmes i.e. textile sector.

Submitted in partial fulfilment of the requirements for the degree of Masters in Business Administration (MBA), Business Studies Unit, University of Technology in the Faculty of Commerce, 2007 / Entrepreneurship, business knowledge and skills within micro and small businesses play an important part in the economies of countries across the globe by being the drivers of economic growth, as well as, creating employment. The role of micro and small businesses is matching that of big business and in some countries contributes up to ninety per cent of revenue. The difficulties from supply and demand perspectives are receiving increasing attention from government and academic institutions and researchers, and the purpose of this study is to establish to what degree the presence of entrepreneurship is present in the region concerned, as well as, investigating the extent of knowledge and skills within the sample of micro and small business owners. The study uses descriptive statistics drawn from a questionnaire survey, to achieve its purpose. One hundred and seventy micro and small businesses were drawn using a stratified random sampling method. Businesses surveyed were grouped into the following categories: services, manufacturing, hardware, clothing and food. Entrepreneurial traits were found present in the micro and small business owners, however certain behavioural aspects argued against this presence. In terms of knowledge and skills, the extent was found to be limited in terms of both academic qualifications, and business acumen. Growth rates of the businesses in the survey seem to be low and the presence of real entrepreneurship would need further investigation.

Submitted by Filipe dos Santos (fsantos@pucsp.br) on 2018-09-03T12:58:55Z No. of bitstreams: 1 Daniel Tonsic de Araujo.pdf: 2556434 bytes, checksum: 2dcf9410376ab9d2a36e38c4da487841 (MD5) / Made available in DSpace on 2018-09-03T12:58:55Z (GMT). No. of bitstreams: 1 Daniel Tonsic de Araujo.pdf: 2556434 bytes, checksum: 2dcf9410376ab9d2a36e38c4da487841 (MD5) Previous issue date: 2018-08-16 / This study has aimed at verify the applicability of accounting information in SME companies of public transportation sector as well attempts to understand the importance given by these companies owner-managers to the accounting statements. This qualitative research has applied semi structured interviews method. Even if there are a reasonable number of qualified SMEs firms only three companies volunteered to participate. Based on the results, it was possible to note that ownermanagers recognize the importance of the accounting information on the decision making, with more relevance to the strategic management and tax information. The respondents also pointed out great relevance for the information timeliness and, due to the predominance of outsourced offices, all the respondents claimed for closest contact with the company accountant helping to deal with daily setback related do financial and tax information / O presente trabalho tem o objetivo de verificar a aplicação das informações contábeis em PMEs do setor de transporte urbano de passageiros e compreender a importância que os gestores dessas empresas atribuem a essas informações. Este trabalho, de caráter exploratório e qualitativo, utilizou como metodologia entrevistas semiestruturadas em que os participantes foram três empresas que se enquadram como PME e que possuem, em seu portfólio de serviços, concessão de linhas de transporte público. Com base no estudo, foi possível notar que os empresários atribuem grande importância às informações geradas pelo departamento contábil, principalmente em aspectos relacionados à gestão estratégica e aproveitamento tributário. Ainda foi possível apurar que há grande preocupação dos gestores quanto à tempestividade e relevância da informação. Por ser predominantemente elaborado por escritórios terceirizados, os entrevistados se mostraram insatisfeitos com o distanciamento entre empresa e escritórios na tratativa de problemas cotidianos. Além disso, há grande interesse em informações além da escrituração contábil, como, por exemplo, soluções corporativas e aproveitamento e otimização tributária urbano

by Ho Siu-hung, Horace. / Bibliography: leaves 50-55 / Thesis (M.B.A.)--Chinese University of Hong Kong, 1986

Submitted in partial fulfilment of the requirements for the degree of Masters in Business Administration (MBA), Business Studies Unit--Durban University of Technology, 2008 / The ability of the South African Small Medium Enterprise Development Programme to promote economic growth and employment. The Department of Trade and Industry (DTI) offers the Small Medium Enterprise Development Programme (SMEDP) incentive grant programme to qualifying manufacturers in South Africa. The status of the progress of this incentive grant programme is unknown. The DTI alluded to an impact study in the 2004 DTI Annual Report but no further reference or publication of results of the impact study has been made. The objectives of the study are to investigate the following three criteria of the SMEDP and to develop benchmarks and recommendations for future incentive grants offered by the DTI. • Rationale for implementation of SMEDP; • Exploration of SMEDP merits; and • Measure of SMEDP success. The study is a secondary analysis design with both qualitative and quantitative components. The qualitative component allows the researcher to reflect on the process by which the incentive programme under investigation came into being, whilst the quantitative component allows for comment on the result of the process as per the markers developed in the qualitative component of the design. There were 152 sample cases used in the study. The outcome measures are the output measures stated in the Medium Term Strategic Plan which are: • The number of jobs sustained. v i • The number of jobs created. • The number of Greenfield’s projects supported. • The fixed investment in Rand terms. • The improvement in employment levels. The DTI achieved certain of the stated objectives. The empirical data analysed confirms the achievement of these objectives. There is scope for further empirical investigation for the future development of incentive grants. The contribution of the SMEDP to economic growth and employment growth is evident and such government interventions should be continued. The recommendations from the study include further investigation into the following areas to improve the benefits provided by manufacturing incentive programmes: • Limit the incentive to a specified Rand value per job created; • Volume driven turnover growth not price driven turnover growth; • The continued inclusion of expansions in future programme; and • Specified sector programmes i.e. textile sector.