Financial Education for the MSMEs: Identifying MSME Educational Needs

To ensure sustainable development in emerging economies, it is important to create opportunities for MSMEs. Access to finance is frequently identified as a critical barrier to growth for MSMEs in emerging economies.

Financial Service Providers (FSPs) are beginning to understand that MSMEs constitute a valuable market segment of their own and require financial products and services that meet their particular needs. These needs are distinctive from those of corporate clients, in the sense that their transaction sizes and numbers are smaller. They are also distinctive from retail clients as their transactions require more customization.

This report aims to share with readers the various awareness and education and literacy-related issues that could hinder the economic growth of MSMEs. Specifically, FSPs do not have much information on the informal sector where many MSMEs do business.