Challenges for Florianense Individual Microentrepreneurs in relation to the financial management of their business

Abstract

The present work aims to present a study on the main challenges encountered by Individual Microentrepreneurs from Floriano - Piauí in relation to the financial management of their business, as well as identifying which factors influenced them to become an Individual Microentrepreneur, in addition to verifying whether they are aware of the importance of financial management for the survival of a business and analyze whether the micro-entrepreneur has basic notions about financial management issues, therefore checking whether there is an association between having knowledge of basic notions of financial management with other variables. Therefore, at the end of the research we intend to resolve the following problem: What are the main difficulties faced by Individual Microentrepreneurs when managing their business financially? To this end, the qualitative research method was used with the application of a questionnaire, where through data analysis based on descriptive statistics it was possible to conclude that the biggest challenge highlighted by them lies in the separation of business accounts from personal accounts. Furthermore, inferential statistics were used to cross-reference the data of some research variables where the non-parametric Chi-square test was jointly applied in order to investigate the statistically significant association of the variables. Therefore, at the end of the research it is evident that not having a basic understanding of financial management and control leads to serious consequences. Therefore, the research contributes significantly to the area of ​​finance knowledge, demonstrating the importance of financial management for any and all businesses regardless of size or area of ​​activity.