Conclusion
This research shows that Pasil Fish Vendors are financially illiterate. These were evidenced by the non‐
recording of transactions, improper recording techniques, highly deficient recording materials and poor
records safekeeping practices; absence of a systematic income and expense evaluation or absence of
income statement; minimal or lack of cash planning; and the consequent recourse to high interest rate
loans. The combination of these factors hinders them from operating effectively in their micro-enterprise
that affects their profit and growth to some extent. It should be emphasized that this perspective is based
on accounting principle. It is not well-established to conclude whether or not their level of financial skills
just corresponds to their needs, whether it is effective for them to use their current pricing method or
mental and cash accounting, and whether their current practices are way more different from the formal
organization’s practices and the conventions of GAAP. It is highly recommended to see studies related to
this research. These are the following recommendations provided: The Government should provide
interventions through its local arm through:
Education
I suggest two concrete intervention. First, check and refine vendor’s basic education. This will enhance
both their intellect and morale and will benefit the incoming generations. Second, the vendors should be
familiarize about the basic financial education such as basic forecasting of income. It will benefit them in
terms of decision making process.
Low cost funding
There is a convincing reason for the government to funnel low-cost funding to these vendors. It should be
appropriate for the needs of the vendors, that is, smaller annual rates for loan packages compared to the
current ones while maintaining the inherent advantages of informal transaction like flexibility of loans,
payment period and loanable amount. As stated, Bangladesh implemented this since 1976 with the help
of Grameen Bank.
Better Facility and regulations
Throwing of carcasses should be prohibited. It could harm both the fish vendors and the residents living
around the market. In addition, micro-banking system has to do with handling of money, Legislation must
be applicable for health and hospitalization aid or subsidy.
Provide linkage
The government should assist the fish vendors to have connection with the organizations with the same
advocacy. The website www.kiva.org mentioned by Valdez (2009) clarifies that there are existing
institutions that are willing to extend their gratitude, only if there are connections. Business or individuals
is recommended to respond to the needs stated above. They can help and acquire money at the same
time