Abstract
Background: This study examined how education influences financial literacy (FL) and subsequent business success among spaza shop owners in Gamalakhe Township, KwaZulu-Natal.
Aim: This study aimed to investigate whether the level of education is a significant factor in determining the FL skills needed to run spaza shop businesses by surveying 100 spaza shop owners.
Setting: The study setting was Gamalakhe Township, KwaZulu-Natal.Methods: The quantitative data were analysed via correlations and ordinal logistic regression.
Results: The findings of descriptive statistics and correlations reveal that education significantly predicts FL levels, which in turn drives improved decision-making and business outcomes.
Conclusion: The ordinal logistic regression revealed that education level influences the level of FL. Contribution: The findings emphasise the importance of developing experiential learning and mentorship programmes to address FL gaps among township entrepreneurs
Aim: This study aimed to investigate whether the level of education is a significant factor in determining the FL skills needed to run spaza shop businesses by surveying 100 spaza shop owners.
Setting: The study setting was Gamalakhe Township, KwaZulu-Natal.Methods: The quantitative data were analysed via correlations and ordinal logistic regression.
Results: The findings of descriptive statistics and correlations reveal that education significantly predicts FL levels, which in turn drives improved decision-making and business outcomes.
Conclusion: The ordinal logistic regression revealed that education level influences the level of FL. Contribution: The findings emphasise the importance of developing experiential learning and mentorship programmes to address FL gaps among township entrepreneurs
| Original language | English |
|---|---|
| Journal | The Southern African Journal of Entrepreneurship and Small Business Management |
| Volume | 17 |
| Issue number | 1 |
| DOIs | |
| Publication status | Published (VoR) - 8 Aug 2025 |