Financial literacy levels and their influence on the entrepreneurial aspirations of residents of the Flores parish, Riobamba - Ecuador 2024

This study addresses the problem of low financial literacy in the Flores parish, which limits entrepreneurial opportunities and the efficient management of economic resources. The lack of financial knowledge has made access to formal credit difficult and has increased dependence on informal financing sources. In this context, the objective was to investigate the relationship between financial literacy levels and their impact on the entrepreneurial aspirations of the inhabitants, in order to propose strategies that promote financial education and improve economic decision-making. The methodology used included a mixed approach, combining primary sources of information or documentary review with the application of surveys to local entrepreneurs, as well as the analysis of community financial data. The results showed that most inhabitants lack basic knowledge in savings, investment and credit management, which limits the sustainability of their business initiatives. In addition, it was identified that access to financial training is limited, which reinforces the need for structured interventions. In conclusion, the importance of developing financial literacy programs adapted to the socioeconomic conditions of the community is highlighted, promoting continuing education and facilitating access to formal financing tools. Implementing these strategies will contribute to improving the economic stability of entrepreneurs and will strengthen the financial development of the Flores parish.