Impact of finance on entrepreneurship: a South African case study

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2018

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Maseko, Lesego N.

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Abstract

This study investigates the relationship between entrepreneurship and access to finance in South Africa. Entrepreneurship is currently a buzz topic around the world as policy makers and private sector business influencers realise that this disused area is a catalyst for economic growth. Because of the assortment of theoretical and empirical evidence on entrepreneurial finance at the microeconomic level, we decide to tackle the gap from a macroeconomics point of view. We employ time series data and proxy entrepreneurship activity using self-employment. Furthermore, we employ unit root and cointegration tests to investigate the long run relationship between access to finance and entrepreneurship activity. The results of the empirical analysis indicate access to finance has a significant and positive impact on entrepreneurship activity in the long run. Furthermore, the causality test reveals that the relationship between access to finance and entrepreneurship is bi-directional.

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Thesis submitted in fulfilment of the requirements for the degree of Master of Management in Finance and Investment at the Wits Business School, University of the Witwatersrand, 2018

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Maseko, Lesego Nancy, (2018) The impact of finance on entrepreneurship: a South African case study, University of the Witwatersrand, Johannesburg, https://hdl.handle.net/10539/28559

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