ASSESSING THE FINANCIAL LITERACY AND STABILITY WITH RESPECT TO SMES
Abstract
This study examines the state of financial literacy and stability in the SME sector, thereby addressing significant knowledge gaps and offering insights into tailored solutions. The study evaluates the current level of financial literacy among SME owners and managers by using empirical research methodologies, such as quantitative surveys, qualitative interviews, and financial analysis. It also identifies common challenges faced by SMEs and looks at factors the influence financial stability. The findings emphasize the value of customized financial literacy campaigns, ongoing educational initiatives, and improved small- and medium-sized business access to financial resources. The study also emphasizes the significance of accounting for regulatory frameworks and other economic factors when assessing financial stability. The suggestions include creating a financial literacy culture, enhancing data transparency, and adapting business plans to volatile market conditions. Our research not only advances scholarly understanding but also provides legislators, financial institutions, and SME stakeholders with important information. By tackling the intricate problems of financial literacy and stability, stakeholders may cooperate to increase the resilience and prosperity of SMEs. In order to shed light on their difficulties, identify areas for growth, and encourage informed decision-making, this study examines the intricate dynamics of financial management in SMEs.
Keyword : SMEs, Small and Medium-sized Enterprises, Financial literacy, financial stability, Economic growth, External shocks, Regulatory Frameworks, Financial Institutions
This work is licensed under a Creative Commons Attribution 4.0 International License.
References
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