Empowering Women Entrepreneurs in Kenya: Assessing Financial Literacy Needs in Small and Medium Enterprises

Abstract

The study seeks to assess the levels of financial literacy among women entrepreneurs in rural Kenya with a focus on those running small and medium enterprises. The research is important with more women venturing into entrepreneurship due to increased unemployment rates and reduced income with increasing inflation. The study targets young and old women entrepreneurs in rural areas, since financial literacy is generally lower than in urban areas. The results of the study highlight the major deficiency areas in financial literacy that policy makers and finance experts can address to improve the effectiveness of financial training programs. Overall, improving the women entrepreneurs' financial knowledge and literacy will empower them and promote business development.