An Investigation Of Financial Attitude, Knowledge, And Behavior For Assessing Literacy Level Among Entrepreneurs In Rural Areas Of Chhattisgarh..

Abstract

Purpose: The objective of this research is to evaluate the degree of financial literacy among rural entrepreneurs in Chhattisgarh, India, and investigate how different demographic factors impact their financial behavior, attitudes, and knowledge. Comprehending these intricacies is crucial in creating efficacious financial literacy initiatives customized for rural environments.

Design/Methodology/Approach: A sample of 200 rural entrepreneurs with a range of demographic backgrounds was given a standardized questionnaire as part of a quantitative research design. The study employed statistical techniques, such as regression analysis and descriptive statistics, to assess the correlation between financial literacy results and demographic variables, such as age, gender, education, income, and business type.

Results: The study showed that there are gender-based variations in financial literacy levels, with male entrepreneurs scoring higher on the financial literacy scale (mean = 62.3) than female entrepreneurs (mean = 42.3). Moreover, the financial literacy of participants was positively influenced by business types including manufacturing and trade, which accounted for roughly 76.4% of the variance in financial literacy scores.

Practical Implications: The results point to the necessity of focused financial education programs designed to raise financial literacy levels among female business owners and those engaged in less financially literate industries. The practical financial knowledge and abilities that are pertinent to the particular difficulties faced by rural entrepreneurs should be the main focus of these programs.

Originality/value: By presenting empirical data on the impact of demographic characteristics among rural entrepreneurs in India, this study adds to the body of knowledge already available on financial literacy in rural contexts. In order to promote entrepreneurial success in rural areas, it emphasizes the significance of addressing gender imbalances and the need for specialized financial education programs..