Hindrance to Benefit from the Potential Sources of Finance to Enhance the Growth of Small and Medium Size Enterprises in South Africa

Small and Medium Size Enterprises are increasing playing an important role in economic development of most countries all over the world nowadays. For these small businesses to grow and be sustainable, they require sufficient capital in the form of financial resources to go operational because the lack of funding or access to finance could hamper their growth. The lack of access to finance has been reported to be one of the major causes of small business failure and discontinuity in South Africa. The purpose of this study is to identify the available sources of financial support for the growth of SMEs in South Africa. The study anticipates to find out why despite government’s effort to offer financial support for the growth of the SME sector, the rate of small business failure and discontinuity in South Africa is still one of the highest in the world. A qualitative methodological approach was utilized and interviews were conducted on SME managers on the subject under investigation. It was found that most SME managers in South Africa are ignorant about available sources of finance offered by government to boost the sector. It is imperative for the relevant authorities to revise and improve on the means and mechanisms used to support SMEs such that all small business managers are aware of the availability of this assistance and where and how to access it. In this regard, the government need to set up education and training facilities in different communities where intending and existing small business managers would be educated on the available sources of finance and how to access this funding to start up and grow their businesses

The Accounting Concept Of Measurement And The Thin Line Between Representational Measurement Theory And The Classical Theory Of Measurement

The purpose of this study is to discuss a possible way forward in accounting measurement. It also highlights the importance of understanding the lack of appreciation given by the accounting researchers to the distinction between representation measurement theory and the axioms of quantity on which the classical theory of measurement is based. For long, research in measurement theory has classified representational measurement as nothing but applications of the axioms of quantity. It was believed that there is in existence a single approach to measurement theory. However, recent studies in measurement theory have shown that there are two sides to measurement theory; one side at the interface with experimental science which is emphasized in representational measurement and the other side at the interface with quantitative theory which is emphasized in the classical measurement theory. Research in accounting measurement has concentrated on establishing a representational based accounting measurement theory. This has been done under the premise that no measurement theory exists in the discipline. Thus, this viewpoint neglects the concepts of classical measurement theory that already exists in the accounting discipline. Moreover, this created misunderstandings in accounting with regard to whether a theory of measurement exists in the discipline. This study highlights that the accounting concept of measurement was conceived under the principles of the classical measurement theory. Therefore this reason, it is suggested that research and improvements to the accounting measurement concept should be made in the light of the already existing principles of the classical theory of measurement in which the accounting concept of measurement was conceived

Towards Formulating An Accounting Theory Of Meaningfulness

This study highlights the need for a theory of meaningfulness for accounting information. A theory of meaningfulness determines the theoretical position that may be taken about the scientific content of information. The need for such a theory in accounting arises from the perspective that users of accounting information have not been able to take a firm theoretical position about the scientific content of accounting information in the financial statements. This has caused users of accounting information to lose confidence in the financial statements. This paper uses the representational measurement concept of meaningfulness to highlight the inadequacies of the current accounting concept of meaningfulness and to suggest possible ways of addressing these inadequacies. The development of a theory of meaningfulness of accounting information would improve the users’ confidence in the financial statements

An evaluation of funding challenges in the Malawian public healthcare delivery sector

Background: Reliable and adequate healthcare funding is crucial in public healthcare service delivery. However, district hospitals in Malawi, face funding challenges as evidenced by poor service delivery. Aim: This study aimed at investigating funding challenges experienced by public district hospitals of Malawi in the provision of healthcare services and proposing strategies for improved funding. Setting: The research presented in this article evaluates funding challenges in the public healthcare sector in Malawi, a developing country. Method: An exploratory sequential mixed method design was used. Qualitative data were collected through semi-structured interviews with 10 purposively selected individuals and were analysed thematically. Quantitative data were collected using questionnaires from 328 respondents. Quantitative data underwent factor and univariate analysis. Results: The study revealed that government funding is received late and is inadequate; donor funding was declining and earmarked for specific health activities; while income generation capacity of hospitals and Councils is weak. The study suggests that hospitals should introduce fees for service, government should be lobbied for increased funding allocations, and revenue–generating capacity of hospitals and Councils should be enhanced. Conclusion: The study concludes that there is an urgent need for government to prioritise the healthcare delivery sector and increase its funding. Hospitals and Councils should be innovative in order to generate additional funding for operations and the revenue generation capacity of hospitals and Councils should thus, be enhanced. Contribution: The study adds to the healthcare funding debate in developing countries by providing a context–specific analysis of healthcare funding challenges and suggesting improvement strategies