Analysis of Madura Culinary MSME Business Performance: Moderation of Financial Inclusion on Financial Capital and Financial Literacy


Abstract
This study intends to investigate the impact of financial capital and financial literacy on MSME firm performance, with financial inclusion as a moderating variable. The methodology used is quantitative, with descriptive and associative approaches. The data in this study were collected from September to October through interviews and filling out questionnaires by culinary MSME players in Madura, including Bangkalan, Sampang, Pamekasan, and Sumenep districts, with a total population of 85. This study used a random sample approach determined using the Slovin formula and has a 5% error rate (0.05). So, this study's sample size totaled 71 culinary MSME players in Madura. Data analysis using Partial Least Squares (PLS) processed using SmartPLS 4. This study demonstrates that financial literacy and capital majorly impact the business performance of culinary MSMEs in Madura. Financial capital helps increase business scale and market access, while financial literacy enables more effective financial management. Financial inclusion strengthens the link between financial capital and business performance while weakening the link between financial literacy and business performance. This implies that financial inclusion needs to be balanced with financial literacy so that MSME actors can optimally utilize financial services. Suggestions are given to improve financial literacy and expand access to financial services for MSMEs.
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Ekspektra : Jurnal Bisnis dan Manajemenis licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.