Quantitative analysis reveals education enhances financial literacy for better business outcomes in spaza shops, suggesting valuable training initiatives.
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.
No takes yet. Share an insight, caveat, or question.
Mkhize et al. (2025) studied this question.
Synapse has enriched 5 closely related papers on similar clinical questions. Consider them for comparative context: