ASSESSING THE INFLUENCE OF FINANCIAL LITERACY AMONG ARTISANAL MANAGERS OF SUAME MAGAZINE

Abstract

ABSTRACT Previous studies highlighted that financial literacy is still low and many individuals failed to manage their finances and businesses as well. This study aims to examine the factors that influence financial literacy among artisanal managers. The theory used for the study is the resource-based view theory (RBC). Data was collected using a self – administered questionnaire and there were 145 respondents who participated in the study. SPSS version 21 was used for data analysis. The multiple linear regression result reveal factors such as education and income are statistically significant and have a positive influence on financial literacy. The study provides guidance on how policy makers and bodies such as National Board for Small Scale Industries (NBSSI) and Association of Ghana industries (AGI) should collaborate and organise workshops for most micro businesses on the need for financial literacy.