A case study of the role of strategic communication in promoting business growth through financial literacy in underserved communities
Year: 2024
Type: article
Abstract: This study explores the role of strategic communication in promoting business growth through enhanced financial literacy in underserved communities. The primary objective is to assess how tailored communication strategies can improve financial literacy among small business owners and contribute to economic development in marginalized areas. Using a case study approach, the research focuses on three diverse communities: Detroit, Michigan; the South Bronx, New York; and Native American reservations. Data were collected through interviews, surveys, and analysis of program reports to evaluate the effectiveness of various communication strategies. The results indicate that culturally relevant communication, community engagement, and multi-channel dissemination are critical in overcoming barriers to financial literacy. These strategies led to measurable improvements in financial behaviors, including better budgeting, increased savings, and access to credit, which in turn facilitated business growth. The discussion highlights the importance of trust-building and cultural sensitivity in financial education initiatives, suggesting that strategic communication is a key driver in the economic empowerment of underserved communities. Keywords: Strategic Communication, Financial Literacy, Business Growth, Underserved Communities, Economic Development, Case Study
Author: Naomi Ugbala
Institution: American InterContinental University
Language: English
Subfield: Accounting
Domain: Social Sciences
Open Access status: diamond
OpenAlex ID: W4402380515