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October 3, 2025Multidisciplinary Reviews

Financial literacy and SME financial distress studies: A systematic literature review

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Authors

MNMaryam NadirSASyamsu AlamMAMuhammad Jahangir Ali

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Overview

Systematic literature review examines financial literacy's role in reducing financial distress in SMEs, suggesting targeted interventions may enhance resilience.

Key Points

  • Improved financial literacy reduces financial distress in SMEs, enhancing their internal financial management.
  • Findings indicate that higher financial literacy correlates with better budgeting and risk awareness in SMEs.
  • The impact of financial literacy is influenced by factors like firm size, ownership structure, and regulatory environment.
  • Research gaps include a predominance of cross-sectional studies and a need for more diverse geographical representation.

Cite This Study

Nadir et al. (2025) studied this question.

synapsesocial.com/papers/68e03501f0e39f13e7fa3876https://doi.org/10.31893/multirev.2026093
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Also Consider

Synapse has enriched 5 closely related papers on similar clinical questions. Consider them for comparative context:

  1. 1The Importance of Financial Literacy in Financial Management in Micro, Small and Medium Enterprises (MSMEs)2024 · 14 citations
  2. 2The Impact of Financial Literacy on SMEs Performance: The Role of Access to Financial Resources as a Mediator2025 · 1 citations
  3. 3Financial literacy and small and medium enterprises performance: the moderating role of financial access2024 · 33 citations
  4. 4Does financial literacy matter for firms? An empirical investigation on Sri Lankan SMEs2026
  5. 5Community-led Economic Resilience: Fostering SME Growth through Financial Education2024