PENGARUH LITERASI KEUANGAN DAN FINANCIAL TECHNOLOGY DALAM MENINGKATKAN KINERJA UMKM DIMEDIASI INKLUSI KEUANGAN (STUDI KASUS PADA UMKM DI KOTA SEMARANG)

Abstract

The performance of Micro, Small, and Medium Enterprises (MSMEs) is examined in this study through the lens of financial literacy and financial technology, with financial inclusion positioned as an intervening factor. The relevance of this research lies in how digital transformation and comprehension of financial principles contribute to strengthening competitiveness and sustaining growth within MSMEs in today’s shifting digital economy. A quantitative design was adopted, applying purposive sampling to involve 240 business actors located in Semarang City. Data processing was carried out using Structural Equation Modeling (SEM) with the aid of Smart-PLS Version 3. Findings reveal that both financial literacy and financial technology exert significant and positive impacts on the performance of MSMEs, while also enhancing financial inclusion. Moreover, financial inclusion contributes positively to MSME performance and mediates the effect of financial literacy on performance in a meaningful way. However, the mediating role of financial inclusion is not statistically significant in the linkage between financial technology and performance. These results imply that advancing financial literacy and embracing financial technology can elevate MSME performance, either through direct influence or indirectly by expanding access to formal financial services.