The Relationship Between Financial Literacy and Entrepreneurial Success in Women-Owned Businesses

Abstract

This theoretical research paper explores the critical relationship between financial literacy and entrepreneurial success in women-owned businesses. It posits that financial literacy, defined as the ability to understand and apply various financial principles, plays a significant role in the entrepreneurial journeys of women. By examining existing theories and conceptual frameworks, the paper aims to provide a nuanced understanding of how financial knowledge impacts the decision-making process, business strategies, and overall success of women entrepreneurs. The paper also discusses the barriers and challenges women face in acquiring financial literacy, and the potential role of financial education in enhancing business outcomes.

Keywords: Financial Literacy, Entrepreneurial Success, Women Entrepreneurs, Financial Management.