Record Details

Personal financial literacy and personal debt management: The potential relationship with new venture creation

Southern African Journal of Entrepreneurship and Small Business Management


 
 
Field Value
 
Title Personal financial literacy and personal debt management: The potential relationship with new venture creation
 
Creator Kotzé, Liezel Smit, Prof A.v.A
 
Subject — —
Description Prior research shows that personal savings are one of the most important financial sources for start-ups of entrepreneurial firms. The lack of personal savings and seeming shortage of financial knowledge could contribute to the low incidence of new venture creation, and the high failure rate amongst South African entrepreneurs. This paper investigates the perceptions of 286 Business Management students with a minimum of three years’ working and management experience, regarding both their financial literacy and their need and desire for financial education. The outcomes of the study show the necessity for financial education and financial literacy in South Africa. The respondents showed a lack of confidence in their money management skills and expressed a desire for more financial knowledge. It is possible that an increased level of financial literacy could lead to more entrepreneurial activity and a decrease in new venture failures. Key words and phrases: personal financial literacy, personal debt, personal savings, personal financial management, new venture creation
 
Publisher AOSIS Publishing
 
Contributor
Date 2008-12-31
 
Type info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion — —
Format application/pdf
Identifier 10.4102/sajesbm.v1i1.11
 
Source The Southern African Journal of Entrepreneurship and Small Business Management; Vol 1, No 1 (2008); 35 - 50 2071-3185 1015-3977
 
Language eng
 
Relation https://sajesbm.co.za/index.php/sajesbm/article/view/11/14
 
Coverage — — —
Rights Copyright (c) 2015 The Southern African Journal of Entrepreneurship and Small Business Management