Challenges of Record Keeping for Engcobo Small, Micro and Medium Businesses, South Africa

Challenges of Record Keeping for Engcobo Small, Micro and Medium Businesses, South Africa

Zolile Myeko

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Vuyolwethu Madikane

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Cape Peninsula University of Technology

Challenges of Record Keeping for Engcobo Small, Micro and Medium Businesses, South Africa

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Abstract

The study investigated challenges to record keeping practices experienced by small, micro, medium businesses in Engcobo Local Municipality. The objective of this study is to look at the barriers of record keeping when growing small, micro, medium businesses. The study used a mixed research method. We collected data through an interview schedules and questionnaires from eighty-five (85) participants. The questionnaires’ data were analyzed using a Statistical Package for Social Sciences (SPSS), and the personal interviews data was analyzed using content analysis. The findings showed that the majority of our participants did not implement proper record keeping practices and that they did not understand the importance and the role of keeping records for their businesses. This study conveys information that contributes and helps small, micro, medium businesses owners to keep business records and to practice good record keeping practices, to maintain accurate business records of transactions.

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Funding

No external funding was declared for this work.

Conflict of Interest

The authors declare no conflict of interest.

Ethical Approval

No ethics committee approval was required for this article type.

Data Availability

Not applicable for this article.

How to Cite This Article

Zolile Myeko. 2019. \u201cChallenges of Record Keeping for Engcobo Small, Micro and Medium Businesses, South Africa\u201d. Global Journal of Management and Business Research - B: Economic & Commerce GJMBR-B Volume 19 (GJMBR Volume 19 Issue B3).

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GJMBR Volume 19 Issue B3

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Journal Specifications

Crossref Journal DOI 10.17406/GJMBR

Print ISSN 0975-5853

e-ISSN 2249-4588

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GJMBR-B Classification JEL Code: M20

Submission ReceivedDecember 13, 2018
Peer Review Double Blind
Handling Editor
Accepted January 3, 2019
Published January 15, 2019

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v1.2

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August 7, 2019

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