*4.2.24 Education level*

Education level is a basic requirement of business and the higher the level the better results are expected in business. Depending on the business complexity or market dynamics one is not able to handle some pressures with lower levels of

education. The higher the level of education obtained the greater the results or profits are expected. With education one is expected to be more organised with better appreciation of business concepts.

### *4.2.25 Level of Business R&D*

Many developed countries today are what they are because of investment in research. A business that takes research and development (R&D) seriously is always outstanding and is expected to report high profits. B&D drives innovation, business growth, profitability and ultimately economic growth. Research shows that R&D contributed significantly to the growth of businesses and economies of Republic of Korea, India and China [28]. In some countries R&D did not increase profitability and growth significantly. R&D is an important factor to consider on business profitability but for this study the data was not available.

In sum, the following factors were considered in this study: profitability, businessnum, travel distance, education level, age, ownerun, business type, family business, ownership, use ICT, self- motivation, financial problem, business regulation problem, business planning problem, employee motivation, advertising, licenced, bank account, business insurance, business record, business advisory, expertise, corruption, tax and marital status. R&D is an important determinant of profitability but was not considered because of lack of data.
