Management Practices of Entrepreneurs in Informal Sector

Management Practices of Entrepreneurs in Informal Sector

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The informal sector or informal economy as defined by governments, scholars, banks, etc. is the part of an economy that is not taxed, monitored by any form of overnment, or included in any Gross National Product (GNP), unlike the formal economy. In developing countries, some 60% of the potential working population earns their living in the informal sector. They would define this economy or sector in other words: not in what it is not, but what it is: the only way to earn a living for people who are self-employed outside the formal economy and not on anyone's payroll. Most of them live and work...