THE ROLE OF FINANCIAL LITERACY, FINANCIAL INCLUSION IN THE SUSTAINABILITY OF MSMES BY MEDIATION OF MSME PERFORMANCE IN MSMES IN KARANGPANDAN DISTRICT, KARANGANYAR REGENCY
Keywords:
Financial Literacy, Financial Inclusion, MSME Performance, MSME SustainabilityAbstract
This research aims to analyze the role of financial literacy and financial inclusion on the performance and sustainability of Micro, Small and Medium Enterprises (MSMEs) in Karangpandan District, Karanganyar Regency. Financial literacy and financial inclusion are two important aspects which are believed to be able to increase the competitiveness and resilience of MSMEs in facing economic dynamics, especially after the pandemic and amidst the acceleration of financial digitalization. This research uses a quantitative approach with survey methods. The research sample consisted of 120 MSME actors selected using purposive sampling techniques. The data collection instrument was a structured questionnaire, data analysis was carried out using the Partial Least Squares Structural Equation Modeling (PLS-SEM) method. The research results show that financial literacy has a positive and significant effect on the performance of MSMEs, while financial inclusion has a significant effect on the sustainability of MSMEs. Apart from that, the performance of MSMEs has also proven to be an important mediator in the relationship between literacy and financial inclusion on business sustainability. The results of this research state the importance of increasing literacy programs and more inclusive access to formal financial services as a strategy to strengthen MSMEs at the local level.
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