Impact of Financial Literacy on the Financial Performance of Selected MSMEs of Purba Medinipur District, West Bengal: An Empirical Study

Abstract: Financial literacy is the capacity of entrepreneurs to handle the financial planning, organizing, and controlling of the business. The paper aims to assess how entrepreneurs' financial literacy affects the financial performance of their businesses. Financial literacy is an independent variable, while financial performance (Profit) is a dependent variable. The research variables are collected via primary data and Likert scales. Regression is employed to analyse the data, and the results indicate that financial literacy has a considerable impact on the MSME's financial performance in Purba Medinipur.