Financial Inclusion - A Driving Force for Women's Entrepreneurship Development

The financial inclusion of women has become an important issue for the academic community and policymakers as it is one of the crucial factors for the development of women’s entrepreneurship. This study examines the impact of socio-demographic factors on women's financial inclusion in the Western Balkans (Albania, Bosnia and Herzegovina, Croatia, North Macedonia and Serbia). The data from the Global Findex Database 2021 were used. Financial inclusion is measured by the financial inclusion index modified by the inclusion of digital payments variables. The sample consisted of 2,683 women from the Western Balkans region. Multiple linear regression was used to examine the influence of age, education, employment status and income on financial inclusion. The results indicate that education, employment status and income have a positive influence on women's financial inclusion. However, an inverted U-shaped relationship was found between age and financial inclusion, suggesting that inclusion increases up to a certain point and then decreases.