The financial literacy initiative has a very high positive impact on the local business, which includes the growth and survival of the business. This study examines and assesses the impact of financial literacy initiatives on the growth and survival of local businesses amidst the prevailing economic conditions in Malawi. The study adopts a mixed-methods research design, combining qualitative interviews with the local business owners and a quantitative survey of local businesses. The study used a sample size of 29 for the primary data collection, which used questionnaires. The study provides recommendations to the government and local business owners. These recommendations include monitoring and evaluation, tailored training, attending financial literacy training programs, and also access to financial services. The study also recommends further study to compare the effectiveness of different types of financial literacy training programs on business growth and survival.