Digital Financial Revolution: Improving The Competitiveness of SMEs Through Financial Literacy & Technology

Muhammad Riko Hamdani, Justita Dura

Abstract


A creative industry, the SMEs sector makes decisions with a short-term outlook. The role of small and medium enterprises (SMEs) is an important factor in a country's economic development of Indonesia. However, in practice, SMEs often face development setbacks, therefore the full potential of SMEs has not been realized. As a result, SMEs' full potential has not been reached. Through the local government's efforts in education and literacy, the role of digitalization wants to continue helping SMEs in Malang City earn more money. This study aims to identify and evaluate the effects of financial technology, financial literacy, and the digital economy on the viability of SMEs in Malang City. A quantitative analysis relies on original data obtained by distributing surveys to small and medium-sized enterprises (SMEs). This research involved the participation of 100 SMEs located in Malang City. Hypothesis testing using multiple linear regression analysis. Using the analysis method of moderated regression analysis (MRA). The results indicated that the sustainability of SMEs is influenced by financial technology and financial literacy,and this influence is amplified when considering the moderating factor of the digital economy.


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