Exploring The Attitude of SMME Owners Towards Financial Record-Keeping

Abstract Book of the 10th International Conference on Research in Business, Management and Finance

Year: 2026

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Exploring The Attitude of SMME Owners Towards Financial Record-Keeping

Otsile Clutricia Morake, Zeleke Worku; Mammo Muchie

ABSTRACT:

SMMEs are often complimented for their capability to generate jobs, motivate entrepreneurship, and add to the socioeconomic structure of communities. Despite their importance, these businesses face various issues, such as effectiveness and the maintenance of proper financial records. The data were collected using 492 closed questionnaires, and the study applied descriptive and quantitative methods to analyse the data from SMMEs operating in the Saldahna Bay Municipality. The study revealed that out of 492 SMMEs, only 28.86% keep proper financial. The significantly influenced of financial record keeping is influenced by three factors three factors: the level of commitment of SMMEs to keep itemised records of all financial transactions regularly, the ability to maintain record-keeping activities, and the level of awareness that maintaining itemised financial record-keeping is beneficial for minimising financial losses in businesses.

Keywords: Awareness, Financial records, financial losses, Saldahna Bay, SMMEsOtsile Clutricia