2025, Vol. 6, Issue 2, Part E
Role of financial literacy in enhancing financial accessibility of women entrepreneurs
Author(s): Shekiba Zafari and Saidalavi K
Abstract: Financial literacy remains an important regressor influencing decision-making capabilities that affect access to finance. Poor financial literacy, coupled with several socio-cultural barriers and institutional biases, constitutes only some of the obstacles that women entrepreneurs face in trying to navigate through the financial landscape. At the same time, even the latest government programs for improving financial inclusions have much to learn on issues of financial literacy and accessibility. The paper outlines the relationship between financial literacy and access: how financial knowledge influences women entrepreneurs in terms of access, management, and growth in financial resources. The paper will look further at the role that financial literacy plays in credit acquisition, financial planning, risk management, and sustainability, besides reviewing the existing programs on financial literacy and government initiatives. This review provides a summary of various studies, reports, and case studies on financial literacy, accessibility, and women's entrepreneurship in developing countries. This study assesses the challenges these women face and further scrutinizes financial literacy interventions through the creation of digital platforms, microfinance, and mentorship programs. The research reveals that financial literacy is an important ingredient in overcoming the barriers to financial accessibility among women entrepreneurs. Advanced financial literacy would provide a better understanding of running a business, which encompasses better utilization of credit, management of financial resources, and ensuring business sustainability. However, most programs on financial literacy are incomplete or their focus has not been directed at the actual needs of the entrepreneurs, hence critical gaps exist in the financial capabilities and accessibility of women entrepreneurs.
DOI: 10.22271/27084515.2025.v6.i2e.674
Pages: 433-438 | Views: 380 | Downloads: 70
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How to cite this article:
Shekiba Zafari, Saidalavi K. Role of financial literacy in enhancing financial accessibility of women entrepreneurs. Asian J Manage Commerce 2025;6(2):433-438. DOI: 10.22271/27084515.2025.v6.i2e.674
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