Describe how jobless people are able to earn a living using informal trading?

Question: Describe how jobless people are able to earn a living using informal trading?

Informal trading offers a vital lifeline for individuals facing unemployment, providing a flexible means to earn a living in the absence of formal employment opportunities. This type of trading typically involves selling goods or services without the formalities of a registered business, often in public spaces or through personal networks. Individuals engage in this sector by identifying market needs within their communities and sourcing products or services that they can provide at a low cost. Despite the challenges, such as lack of government support and infrastructure, informal trading allows for self-employment and sustenance, contributing significantly to local economies. In regions where the informal sector is prevalent, it can account for a substantial portion of the GDP, reflecting its importance in providing employment and supporting livelihoods[5]. However, informal traders often face issues like limited access to finance, lack of management skills, and marketing challenges, which can hinder their economic potential[1]. To mitigate these challenges, some organizations aim to represent the interests of informal traders, advocating for inclusive policies and support systems that can help them thrive.

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