The Financial Literacy and Entrepreneurial Intention among Young Professionals

Abstract

Entrepreneurial activity is perceived as vital mechanism to attain social development and economic progress. To ensure a continuous supply of entrepreneurs, it must be identified what determinants can led in shaping the intention in venturing entrepreneurship. However, factors affecting entrepreneurial intention suchlike, the association of financial literacy towards entrepreneurial intention have not been adequately investigated in the local setting. Hence, to cover the gap, a study using a quantitative non-experimental research design based on a correlational technique was carried out. This research aims to ascertain the relationship between financial literacy and entrepreneurial Intention. Data was collected from 150 young professionals residing in Tagum City, using a random sampling technique. The findings of the study showed that financial literacy has a positive influence on young professionals’ entrepreneurial intention. Therefore, when the financial literacy of young professionals is high, the entrepreneurial intention is also observed to be high. The recommendation of this research is to support the importance of acquiring enough financial education for young professionals and for further improvisation of the educational curriculum in higher education institutions to encourage students in considering entrepreneurship as a career path in the future.