How financial literacy builds confidence, growth, and long-term wealth
Running a business takes vision, resilience, and leadership. But to grow and sustain that business, financial confidence is essential. For many women entrepreneurs, managing money can feel intimidating, especially when financial education hasn’t always been accessible or inclusive.
That’s where financial literacy comes in. Put simply, financial literacy means understanding the basics of how money works. Earning, saving, budgeting, borrowing, and investing. These three essentials can help you make confident decisions about your business and future.
#1. Break barriers: Build financial confidence at any time
One of the biggest myths in entrepreneurship is that you need to come from wealth or hold a finance degree to succeed. In truth, many of the most successful business owners started with limited resources and had to learn about money management through real-world experience.
The common thread among them? A willingness to put in the work, make informed decisions, and get comfortable talking about money. Even when it feels uncomfortable at first.
There’s no “perfect” moment to start building financial skills. What matters is taking the first step and being open to learning along the way.
Example: Madam C. J. Walker, born to formerly enslaved parents, became America’s first self-made woman millionaire by building a haircare empire—proving that background doesn’t limit your future.
#2. Turn financial mistakes into growth lessons
Every entrepreneur makes money mistakes. Whether it’s underpricing services, overextending on credit, or not tracking expenses closely enough, financial missteps are part of the learning curve.
What matters most is how you respond. Instead of seeing these as failures, view them as valuable lessons. Take time to reflect, adjust your strategy, and keep moving forward with a clearer financial vision.
With each challenge comes the chance to build a stronger, more resilient business and a more confident approach to money.
Example: Sara Blakely, founder of Spanx, grew up in a household where failure was celebrated. At the dinner table, her father would ask, “What did you fail at this week?” That mindset taught her that mistakes weren’t setbacks but stepping-stones. It gave her the resilience to turn rejection into innovation and persistence into a billion-dollar business.
#3. Find your niche and align your goals
When you try to serve everyone, you risk connecting with no one. The same principle applies to how you structure your business and financial goals.
Successful entrepreneurs focus on solving a specific problem for a specific group. This clarity not only sharpens your marketing and service delivery. It also helps with smarter budgeting, better financial planning, and more targeted investment.
Aligning your business strategy with your financial goals creates momentum and sustainability.
Example: Whitney Wolfe Herd built Bumble around one clear niche—putting women in control of dating—and turned that focus into a billion-dollar brand.
Inspiring women leaders driving change in the financial sector
Across industries and generations, women have redefined what financial leadership looks like. Their stories prove that building money confidence isn’t just possible. It can spark innovation, inclusion, and lasting change.
Here are just a few examples of women who have made lasting impacts in the world of finance and business:
- Anne Boden – Founder of Starling Bank, a mobile-first bank built to make financial management easier and more transparent
- JeFreda R. Brown – Financial consultant and educator focused on financial planning and inclusion through her firm, Xaris Financial Enterprises
- Tracy Brookes – Financial planner and host of Wealth and Women, empowering listeners with real-world financial strategies
- Maggie Lena Walker – The first African-American woman to charter and lead a U.S. bank, helping her community build generational wealth
- Muriel Siebert – A Wall Street pioneer and the first woman to hold a seat on the New York Stock Exchange
- Melissa Houston – CPA, author, and founder of She Means Profit, teaches women how to run financially successful businesses
These leaders turned barriers into opportunities. Their work continues to inspire a new generation of women to take charge of their financial futures and create lasting wealth on their own terms.
Want more inspiration? Check out our article on the 6 Ways Women Are Shaping the Future of Money.
How M&T empowers women entrepreneurs
Supporting women entrepreneurs takes more than lending. Banks can fuel growth by offering resources, mentorship, and education that help business owners make confident financial decisions.
At M&T Bank, we believe that smart money moves start with knowledge. That’s why we’re committed to equipping women with the tools, insight, and support they need to thrive, today and into the future. From funding options and personalized advice to programs like business grants for women, our goal is to help you build confidence, grow sustainably, and turn vision into long-term success.
Your path to growing confident about money
Being confident about your finances isn’t about knowing everything. It’s about being willing to learn, ask questions, and take ownership of your financial future. When women are empowered to make smart money moves, they don’t just grow businesses; they can transform the experience for a larger community.
Ready to take the next step? Visit our Business Education Center for resources on raising capital, managing cash flow, writing a business plan, and more.
For educational purposes only. Always consult a qualified professional about your personal situation.