Although entrepreneurship in the informal economy occurs outside
state regulatory systems, informal commercial activities account
for an estimated 30% of economic activity around the world.
Informal entrepreneurship goes unmonitored despite the fact that it
significantly contributes to poverty reduction and economic
development. As a result, the informal sector is open to unethical
practices including corruption, worker exploitation, and natural
environment abuse to name just a few. In the media, debates have
formed around whether informal entrepreneurship should be assisted
or legitimized. Hence, a deep understanding of the phenomenon is
vitally important.
This book is the first on the market to offer models and
approaches to informal entrepreneurship as well as to its prospects
for economic development. Offering an in-depth examination of
informal entrepreneurship in many different countries, it reveals
the motivations for engaging in entrepreneurship in the informal
economy, characteristics of informal entrepreneurship, and informal
entrepreneurs' response to ethical issues. This volume illustrates
the relationship between formal and informal economies and the
conditions for the benefits of informal entrepreneurship to
outweigh its disadvantages. And finally, it gives recommendations
about when and how the informal economy can be formalized, which
sectors should be formalized, and which ones can remain informal.
This book offers much-needed guidance for stakeholders involved in
economic development programs and scholars and entrepreneurs
interested in the field of informal entrepreneurship as it is
developing around the globe.
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