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Unveiling the nexus: Financial inclusion, financial literacy, and financial performance as catalyst for women-owned enterprises in India

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  • Serin Peter
  • Geetha Elangovan
  • Gokarna Vidya Bai

Abstract

The imperative role of financial inclusion (FI) indispensably ensures the sustainability of women’s entrepreneurial endeavors in the evolving financial landscape. Scholarly narration provides evidence that women entrepreneurs fail to access financing due to their lower demand for funds, supply-side discrimination, and perceived structural barriers. Financial literacy (FL) is vital for FI. The study gauges the level of FI among Indian women entrepreneurs and its effect on firm performance (FP) with the moderating effect of FL. Data were collected from 216 women entrepreneurs through a structured questionnaire on the LinkedIn platform to assess the level of FL in the financial technologies era. The study revealed that traditional financial inclusion and digital financial inclusion significantly impact the FP of women’s enterprises. Further, there is evidence that a relatively lower mean score, FL, does not moderate the relationship between FI and FP. It urges policy reformers, financial institutions, entrepreneurial educators, and government bodies to promulgate policies and training programs on antecedents that enable long-term women’s entrepreneurial financial inclusiveness.

Suggested Citation

  • Serin Peter & Geetha Elangovan & Gokarna Vidya Bai, 2025. "Unveiling the nexus: Financial inclusion, financial literacy, and financial performance as catalyst for women-owned enterprises in India," Journal of the International Council for Small Business, Taylor & Francis Journals, vol. 6(4), pages 721-751, October.
    • Handle: RePEc:taf:ucsbxx:v:6:y:2025:i:4:p:721-751
    DOI: 10.1080/26437015.2024.2432385
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