The informal economic sector is a very important part of the economy for any developing country; it is a growing employment sector for the less skilled people living in both rural and urban areas. Organizing the informal sector and reorganizing its role as a profitable activity may contribute to local economic development. This can also build the capacity of the informal workers to meet their basic needs by increasing their incomes and strengthening their legal status. Municipal support for the informal business sector may play an important role in achieving these objectives. The problem statement of this research report highlights the problems of poverty and unemployment in the Buffalo City Metropolitan Municipality in the Eastern Cape Province of South Africa, which has resulted in the growth of informal business sector. In order to improve economic development, local authorities are expected to give support to any sector that provides employment and incomes for the poor, including the informal sector. The overall aim and objectives of the research were to investigate the role of Local Economic Development strategies in the informal sector in Buffalo City Metropolitan Municipality. To discover whether there is any support programme employed by Buffalo City Metropolitan Municipality Local Economic Development Unit to boost the informal sector economy. To, assess the impact of the informal sector, in generating income for the unemployed. To identify Local Economic strategies employed in the area to develop the local economy. An overview of the literature on the informal sector provided a basis for the research into the problems facing street traders in Mdantsane, a large township adjacent to East London in the Buffalo City Metropolitan Municipality. Both qualitative and quantitative research methods have been used in the study. The use of data collection tools such as interviews, questionnaires and observation helped to solicit the required information. An analysis of the findings confirmed that the informal sector plays an important role in in generating an income for the unemployed particularly for unemployed women. It appears that the informal traders have some basic requirements that would make a difference to their survival and working conditions, but that minimal support is received from the municipality. These findings recommend that in the absence of formal job opportunities in Buffalo City, the Municipality should develop strategies to support the informal sector participants to survive and thrive in difficult economic times.
| Identifer | oai:union.ndltd.org:netd.ac.za/oai:union.ndltd.org:nmmu/vital:27056 |
| Date | January 2016 |
| Creators | Nomoyi, Lungiswa Patricia |
| Publisher | Nelson Mandela Metropolitan University, Faculty of Business and Economic Sciences |
| Source Sets | South African National ETD Portal |
| Language | English |
| Detected Language | English |
| Type | Thesis, Masters, MA |
| Format | xi, 68 leaves, pdf |
| Rights | Nelson Mandela Metropolitan University |
Page generated in 0.169 seconds