Informal Entrepreneurs and Their Trust in Formal Banking Institutions an Exploratory Study Based on Perspectives of Informal Entrepreneurs from the Footwear Bogotanian Sector
Salcedo-Pérez, Carlos; Sabogal, Mauricio

Abstract
This article shows the results of a research that tries to find the level of confidence that shadow entrepreneurs have on formal banking institutions, and the qualities they would look for in a banking institution. The research was conducted in the year 2014 in Bogota, Colombia. Twenty-seven entrepreneurs participated in the study giving their opinions; such entrepreneurs belong to the sector of footwear production and commercialization, working in the shadow economy. The results show that even when these entrepreneurs belong to the shadow sector of the economy, they trust formal banking institutions over any other sources of credit.

Full Text: PDF