A flexible substrate including a flexible base substrate, and a wiring layer and a back film on opposite sides of the flexible base substrate respectively. A side of the flexible base substrate facing away from the wiring layer is provided with a flat area including the back film and a bending area from which the back film is removed, the bending area is provided with an elastic reinforced film, and an elastic modulus of the elastic reinforced film is smaller than an elastic modulus of the back film. A display device including the flexible substrate and a method for manufacturing the flexible substrate are also provided.