PENGARUH LITERASI KEUANGAN, INKLUSI KEUANGAN, E-COMMERCE DAN DIGITAL CAPABILITY TERHADAP KINERJA KEUANGAN UMKM DI KABUPATEN MAGETAN

Abstract

Micro, Small, and Medium Enterprises (MSMEs) play a key role in Indonesia's national economy, particularly in Magetan Regency, which has seen consistent growth from 2021 to 2024. The increasing number of MSMEs is an indicator of regional economic growth. However, this development presents challenges, particularly in the area of ​​suboptimal financial management, which can hinder improvements in business financial performance. This study aims to analyze the influence of financial literacy, financial inclusion, e-commerce, and digital capabilities on the financial performance of MSMEs in Magetan Regency. This study uses a quantitative approach with a survey method through a Google Form-based questionnaire distributed offline and online. The study population was 110 MSMEs in Magetan Regency, selected using purposive sampling, namely MSMEs registered with the NIB (Business Identification Number). The data analysis technique used Structural Equation Modeling (SEM) based on Partial Least Square (PLS). The results show that financial literacy has no effect, while financial inclusion, e-commerce, and digital capabilities do affect financial performance. These findings indicate that the financial performance of MSMEs is more influenced by their ability to utilize formal financial services than by their level of financial knowledge. The implication of this research is that MSME development needs to be directed at strengthening the implementation of business financial management so that knowledge can make a significant contribution to improving MSME financial performance.