The Effect of Islamic Financial Literacy Level on the Success of Cost Reduction Programs in Micro, Small, and Medium Enterprises (MSMEs) in Makassar City
Kata Kunci:
MSMEs, Cost Reduction, Islamic Financial LiteracyAbstrak
This study aims to assess the level of Islamic financial literacy among micro enterprises in Makassar City and to analyze the effect of Islamic financial literacy on their ability to sustain business operations through cost-saving or cost reduction programs, based on cost control awareness by individuals within cost driver groups.
The data were collected using questionnaires. A random sample of 41 micro enterprises in Makassar City was obtained for this study. The data were analysed using a simple regression analysis technique. The results indicate that the level of Islamic financial literacy has a significant positive effect on the success of cost reduction strategies in micro enterprises in Makassar City. The influence of Islamic financial literacy on the success of cost reduction programs is approximately 85%. The conclusion is that the success of cost reduction strategies in MSMEs is largely determined by the Islamic financial literacy of their actors.
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