Financial Behaviour and Economic Literacy in Improving Youth Entrepreneurships

This study explores the role of financial behaviour and economic literacy on youth entrepreneurship, emphasizing their significance in enhancing entrepreneurial success. Using a confirmatory factor analysis, the study demonstrates that both financial behaviour and economic literacy are significantly correlated with entrepreneurial outcomes, accounting for 62.3% of the variance in youth entrepreneurship. The study highlights the importance of integrating financial education and economic literacy into youth development programs, as these factors are critical for fostering entrepreneurial intentions and success. These findings also contribute to Maslow's Hierarchy of Needs theory, showing how financial competence supports not only physiological and safety needs but also facilitates the fulfillment of esteem and self-actualization among young entrepreneurs. By addressing these key areas, policymakers and educators can better support the next generation of entrepreneurs and stimulate economic growth.

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