FINANCIAL LITERACY AWARENESS AMONG SME’S IN WESTERN DIVISION OF FIJI

Abstract

The purpose of this study is to measure the level of financial literacy awareness of the entrepreneurs of small and medium-sized enterprises (SMEs) in Western Division of Fiji. This study had used financial planning, analysis and control, book-keeping, understanding of funding sources, business terminology, finance and information skills and use of technology to measure the financial literacy awareness among the entrepreneurs. The data collection method was quantitative, closed ended questions were used rather than matrix questions. Data was gathered through the use self-administered questionnaire. A Likert scale questionnaire development method was used to gather data for analysis purpose. The results suggest a low level of financial literacy awareness by SMEs owners. Recommendations to improve financial literacy are suggested.