Recursive least squares based error correction method for enterprise accounting data

Qihao Yang
Henan Polytechnic Institute, Nanyang City, China,473009

Abstract:

Considering the influence of the globalisation phenomenon on the worldwide management, the economic sector has gone through different phase of dynamic changes. This implies that local economies are now affected by both domestic and global factors. It is therefore up to the governments to revolution their economy sector to remain competitive in the international market. The current study investigates on the effectiveness of small business sector in South African economy following a case of arts and crafts industry in Pretoria central business district. The study uses the qualitative design approach to collect research data through questionnaires. Data was analysed using the open and axial coding provided in the ATLAS.ti application. The target sample comprises existing SMMEs particularly the arts and crafts business owners in Pretoria CBD, Sunnyside and Arcadia. Semi-structured interviews were conducted with fourteen entrepreneurs who were selected using non-probability sampling technique. Research findings revealed that the South African government should effectively supports small businesses to ensure job creation and poverty alleviation. From the lack of skills to the lack of funding, the art and craft sector face immense challenges that limit their expansion and profitability