Is the literacy of small business owners important for cash flow management?: The experts’ perspective
Article
Article Title | Is the literacy of small business owners important for cash flow management?: The experts’ perspective |
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ERA Journal ID | 33540 |
Article Category | Article |
Authors | Belle Isle, Melissa (Author), Freudenberg, Brett (Author) and Sarker, Tapan (Author) |
Journal Title | Journal of the Australasian Tax Teachers Association |
Journal Citation | 13 (1), pp. 31-67 |
Number of Pages | 37 |
Year | 2018 |
Publisher | Australasian Tax Teachers Association |
Place of Publication | Australia |
ISSN | 1832-911X |
Abstract | Small businesses play a crucial role in the Australian economy in terms of income and employment. Reliance on small business however can be concerning, as many small businesses fail to survive for a period of more than five years. This has been associated with the difficulty that small businesses face in maintaining a consistent cash flow. Research suggests that this may be related to financial and taxation literacy of the small business owner (SBO). Although SBOs have been identified has having a higher degree of financial literacy than individuals, it is unclear whether their level of literacy is adequate to support the management of the cash flow of their business. A continuing large research project investigates the required level of literacy that SBOs should possess to operate a successful business, with particular focus on cash flow management. This article reports expert perspectives of the degree of knowledge that is essential for SBOs in terms of professional financial literacy, computer accounting software (CAS) literacy and business taxation literacy in order to implement effective cash flow management practices. |
Keywords | CAS literacy; Cash flow; Financial literacy; Small business; Tax literacy |
ANZSRC Field of Research 2020 | 350205. Household finance and financial literacy |
Public Notes | Files associated with this item cannot be displayed due to copyright restrictions. |
Byline Affiliations | Griffith University |
Institution of Origin | University of Southern Queensland |
https://research.usq.edu.au/item/q73x2/is-the-literacy-of-small-business-owners-important-for-cash-flow-management-the-experts-perspective
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