Women entrepreneurship can be the driving force to steer nations globally towards the achievement of economic and social development goals through job creation and poverty alleviation. However, financial literacy is an essential and intangible resource that is critical for growth, success, and sustained competitive advantage. Yet, lack of financial literacy is one of the key challenges affecting the business growth of women entrepreneurs. Hence, adopting a qualitative approach and data collected through the interview method from twenty-three women entrepreneurs selected through purposive sampling based on the criteria of an established business for five years with at least three employees, the study aimed at investigating the financial literacy imperative for the success of women entrepreneurship. Findings indicate that financial literacy greatly influences the success of women entrepreneurship and hence recommends group-based and focused training for women entrepreneurs through suitable programs to equip and enhance financial literacy among women entrepreneurs.
SMEs are at the centre of tough times, facing a raging COVID-19 virus that is wreaking havoc on economies and businesses the world over. This chapter explores interventions and practices that mitigate the impact of COVID-19 on SMEs that act as accelerators towards business recovery. It also deliberates on different government interventions that are in place. The chapter highlights the importance and contribution of different interventions towards continuity of businesses as they try to stay afloat in the middle of a global pandemic. It conveys contextual insights from different entrepreneurs operating SMEs in five sectors of the economy, that is manufacturing, hospitality, education, construction, and in wholesale and retail trade.
The dawn of the global pandemic has prompted more need to pay attention to entrepreneurship development because it is profoundly important to find ways of stimulating the economy towards sustainable development, especially during this difficult time, and this is through SMEs. This chapter focuses on the determinants of SMEs and entrepreneurship development as an integral part of bigger picture-entrepreneurial sustainability in the post-COVID-19 era. This chapter identifies different triggers of SMEs and entrepreneurship, and it brings forth contextual evidence and views that are currently in place. The chapter further highlights different strategies that SMEs can use to cope and provides some recommendations for future development.
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