ROLE OF FINANCIAL INCLUSION AND FINANCIAL MANAGEMENT ON SUSTAINABILITY OF WOMEN ENTREPRENEURS – A STUDY ON MSMEs IN VISAKHAPATNAM DISTRICT, AP

Abstract

MSMEs have been the back bone of the Indian economy due to their critical role played in generating millions of jobs, especially at the low-skill level, and development of the nation. Women entrepreneurship in India has stood the test of time, however, majority of these women driven enterprises had showed marginal growth signs. Given this slow growth amongst women entrepreneurs, this research aimed to consider the financial management strategies adapted by women entrepreneurs. The study identified challenges faced by women entrepreneurs in managing business finances, the challenges they are exposed in financial management (lack of training in financial management, need to cater attention towards family needs, lack of confidence in financial management skills). The study also emphasized on the financial inclusion and financial management of women entrepreneurs that lead to their sustainable development and improve the entrepreneurial abilities, which in turn would enable them in enhancing their future business prospects and growth. The research concludes that women entrepreneurs should be aware of financial inclusion and financial management of the enterprises to survival and growth of sustainability. Appropriate awareness on financial inclusion and financial management help the entrepreneurs to effectively utilize their financial resources.