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A Qualitative Study in Financial Literacy Practices Among Preschool Entrepreneurs in Urban Community

Asri, Jusoh (2022) A Qualitative Study in Financial Literacy Practices Among Preschool Entrepreneurs in Urban Community. Doctoral thesis, Asia e University.

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Entrepreneurs who lack of understanding on business financial means that they do not have the financial literacy to manage their financial activities, hence they find it difficult to achieve steady growth and sustainability in their business. The study was undertaken during Movement Control Order (MCO) in Malaysia, to explore the financial literacy practices among preschool entrepreneurs in urban community in order to sustain in the operations and achieve long term sustainability while fulfilling their social responsibility obligations. The study was a qualitative in nature using homogeneous purposive sampling. Three preschool entrepreneurs whose businesses are similar in characteristics and operates in the State of Selangor, Malaysia, participated in semi structured interviews which they shared their financial practices. A thematic analysis of the interview data through hand-coding identified six fundamental themes of financial practices: business strategy and action plan; budgeting and reporting; accounts payable and receivable management; operating costs management; monitor key performance indicators (KPIs) and assess internal control systems. The findings may influence positive social change by improving other preschool entrepreneurs’ financial literacy and business sustainability, rising higher business incomes and providing a better quality of life to their employees. In addition, the proposed research model and recommendations from this study can also be utilized by other preschool entrepreneurs and entrepreneurs in general from other developing countries. Adding to that, the study found further evidence that good financial habits and financial compliance by preschool entrepreneurs enabled their businesses to sustain in their operations for longer years, as the results of continuous learning culture cultivated within entrepreneurs’ business organizations. The results of the study may be of great use to various stakeholders such as scholars, Malaysian preschool entrepreneurs and the government, among others, in providing a basis for future research to be conducted in the same field as well as on other business sectors that could help to reduce high business closure rates in Malaysia.

Item Type: Thesis (Doctoral)
Divisions: School of Management
Depositing User: Muhamad Aizat Nazmi Mohd Nor Hamin
Date Deposited: 25 Jul 2022 04:26
Last Modified: 25 Jul 2022 04:26

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