This study investigates the influence of increased financial inclusion on entrepreneurship in South Africa, employing an interpretivist approach. It uses qualitative research on the personal experiences of consumers and entrepreneurs to establish the direct benefits and barriers of these changes.

The research explores the experiences and perspectives of entrepreneurs regarding access to financial services, the role of financial inclusion in entrepreneurial growth, the impact of technology on financial inclusion, financial literacy, and awareness, as well as recommendations for policy and practice. Findings reveal that while there has been progress in enhancing financial access, challenges such as high bank charges, stringent documentation requirements, and limited financial literacy remain a problem, particularly among underserved populations. However, increased access to financial services has facilitated entrepreneurial activities, with entrepreneurs leveraging innovations like mobile banking and online payment systems. Policy implications suggest the need for targeted interventions to address barriers to financial inclusion and promote entrepreneurship, including simplifying banking processes, expanding financial literacy programs, and improving access to financing for new entrepreneurs and small businesses. 

The findings offer valuable insights for economic agents, including consumers, financial firms, and policymakers, into fostering a more inclusive financial ecosystem that promotes entrepreneurial development and economic growth.