Financial Behavior and Entrepreneurial Success: An Empirical Analysis of Informal Markets in Zambia

Kampamba Chibesa and Austin Mwange
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Kampamba Chibesa: The University of Zambia, Institute of Distance Education, Lusaka, Zambia
Austin Mwange: The University of Zambia

African Journal of Commercial Studies, 2025, vol. 6, issue 1

Abstract: Small enterprises' success is much influenced by financial behavior, especially in the informal sector where financial knowledge and access to financial resources are few. Using data gathered from 350 traders in Lusaka's informal markets, this study examines the influence of financial behavior on entrepreneurial performance among Zambian informal traders. Using a mixed-methods approach, the study aggregates surveys, interviews, and regression analysis to assess how financial behavior relates to indices of corporate performance including profitability, growth, and sustainability. Results show a notable positive correlation (β = 0.62, p

Keywords: Financial behavior; entrepreneurial success; informal sector; financial literacy; Zambia; financial inclusion; business sustainability (search for similar items in EconPapers)
JEL-codes: D14 L26 O17 (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:cwk:ajocsk:2025-30

DOI: 10.59413/ajocs/v6.i.1.14

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