Track: Entrepreneurship

Abstract

Entrepreneurs are the backbone of all prosperous economies worldwide, since they are regarded as a key driver of economic growth in creating job opportunities, eradicating poverty and leading to the production of both developed and emerging countries' gross domestic product (GDP). This paper presents the findings of a pilot survey aimed at validating a questionnaire explicitly designed to gather data on the relationship between financial literacy and business performance among entrepreneurs. A total of 37 sampled respondents were used in the analysis using a stratified and clear random sampling technique. The data were analyzed with the assistance of the Statistical Kit for Social Sciences (SPSS) version 23, of which the study of the variables and assessment of the reliability were carried out. As a result, only 44 of the 49 elements that initially formed the survey were retained. A total of 9 components emerged from the data that were named in accordance with their underlying constructs. The factor loadings reported met the appropriate threshold of .50. The reliability of the items and the respective scales was also within the acceptable range of .70. It was thus concluded that the questionnaire was reliable and could be used for the reason for which it was built.