THE EFFECT OF FINANCIAL INCLUSION AND FINANCIAL LITERACY ON THE PERFORMANCE OF MICRO, SMALL, AND MEDIUM ENTERPRISES (MSMEs) IN JOMBANG REGENCY, INDONESIA

Henita Diah Amanda; Novita  Mardiani

doi:10.36563/n9q5sn68

Authors

Henita Diah Amanda Intitut Teknologi Dan Bisnis PGRI Dewantara Jombang
Novita Mardiani Intitut Teknologi Dan Bisnis PGRI Dewantara Jombang

DOI:

https://doi.org/10.36563/n9q5sn68

Keywords:

Financial inclusion, financial literacy, MSME performance, Micro, Small, and Medium Enterprises.

Abstract

Micro, Small, and Medium Enterprises (MSMEs) play an important role in supporting regional economic growth and employment. However, MSME performance remains constrained by limited access to financial services and inadequate financial management capabilities. Although the relationship between financial inclusion, financial literacy, and MSME performance has been widely examined, empirical evidence focusing on MSMEs in Jombang Regency remains relatively limited. This study aims to examine the effects of financial inclusion and financial literacy on MSME performance in Jombang Regency. This study employed a quantitative approach using a survey of 100 MSME owners selected through purposive sampling. Data were collected through questionnaires and analyzed using multiple linear regression with the assistance of IBM SPSS Statistics. The analysis examined the partial and simultaneous effects of financial inclusion and financial literacy on MSME performance. The results indicate that financial inclusion and financial literacy have positive and significant effects on MSME performance, both individually and simultaneously. Among the two independent variables, financial literacy has the most dominant effect on MSME performance. These findings suggest that improving access to formal financial services alone may not be sufficient to enhance MSME performance. Such access needs to be accompanied by adequate financial knowledge and skills to support better financial decision-making and business management. This study provides empirical evidence of the importance of strengthening financial inclusion and financial literacy as complementary factors in improving MSME performance in Jombang Regency. The findings may serve as a reference for local governments and financial institutions in developing more targeted and effective MSME development programs.

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