Financial Literacy as A Tool of Business Transformation For Small and Medium Enterprises in Uganda

Despite the contribution of SMEs in economic development, it is clear that the performance of SMEs is still low in developing economies, preventing them from contributing their quota effectively in the development of the economy. In general, shortage of capital and credit facilities, limited skilled labour, inadequate raw materials, poor infrastructure, inefficient management skills, and the contained use of new, emerging, and constantly changing technologies are some of the major barriers to SME growth. Therefore, there is a pressing need for exploring factors and mechanisms that can contribute to facilitating SME performance, especially in emerging markets like Uganda.