Financial Education as a Factor of Strengthening the Accounting and Administrative Management of Entrepreneurs in Sogamoso, Boyacá.

Abstract

Financial education has been consolidated as an essential component for business sustainability, allowing entrepreneurs to acquire tools to efficiently manage their resources. This study analyzes financial education as a factor of strengthening the accounting and administrative management of entrepreneurs in Sogamoso, Boyacá. A research was developed with a quantitative approach, descriptive scope and cross-sectional design, applying surveys to 90 entrepreneurs selected through simple random sampling. The results show that, although 82% of the participants recognize the importance of financial education, only 34% have received formal training on the subject, which translates into significant gaps in the management of financial products and in the application of accounting practices. Similarly, it was identified that 65% keep records of income and expenses, but less than 40% make balance sheets or plan cash flows, limiting the long-term sustainability of their businesses. It is concluded that financial education, beyond its theoretical recognition, needs to be strengthened through contextualized training programs, which promote the use of accounting and financial tools as pillars for business growth in Sogamoso.