The experiment will consist of two interventions related to business owners’ lack of information on formalization and underdeveloped sustainable business skills.
“Intervention A” will be designed as an information treatment where business owners will receive elaborate information on the advantages and costs of formalizing, the specific steps required to become formal, and the requirements of operating formally. Firms selected for this intervention will receive information in person from a trained instructor who can further elaborate on the process to become formal (deMel et al., 2013).
“Intervention b” will be designed as a streamlined four-to-five-day training module focusing on increasing participants’ sustainable business skills (McKenzie & Woodruff, 2014). Based on the principles of the ‘triple bottom line’ (Elkington, 1994; Porter & Kramer, 2011), the participants will receive basic business training from professional instructors in elementary financial, sustainable, and environmental practices. The training module will be designed as a simplified, “rule-of-thumb” training (Drexler et al., 2010) with elements of a personal initiative training approach that emphasizes developing personal initiatives, goal-setting, and becoming future-oriented (Campos et al., 2017).