Financial Literacy and Entrepreneurship Performance
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Date
2023
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International Journal of Novel Research in Marketing Management and Economics
Abstract
The study investigated the level of awareness of financial literacy among selected SSEs in south western Nigeria. The Study made use of primary data collected through the use of a structured questionnaire. Necessary sampling method was adopted in the study and snowballing method was used to administer both physical and electronic questionnaire. The result showed that the t-statistic probability strongly suggests that all three coefficients, Manager’s Literacy (ML), Technical Competence (TC) and Firm size (FS) have a positive and significant effect on Entrepreneurship performance (EP) with P-value of 0.0226, 0.0372 and 0.0316 respectively. In conclusion the success of a company can be significantly impacted by financial literacy. Employees in businesses that are financially literate are more likely to react to changes in the market and make choices that will boost the company's performance. The necessity of money management, investing, and adhering to a budget can be made clear to Entrepreneurs, who will then be better able to contribute to the company's financial security and growth. Last but not least, financial literacy can aid workers in making wiser choices regarding their own financial health, which can boost job satisfaction and corporate loyalty.