Expansion of Micro, Small and Medium Enterprises in Surabaya City: The Role of Financial Management and Digital Finance Inclusion
DOI:
https://doi.org/10.31000/bvaj.v9i2.14834Keywords:
Financial Management, Digital Finance Inclusion, MSME ExpansionAbstract
Micro, Small and Medium Enterprises (MSMEs) have an important role in local economic growth, including in the city of Surabaya. However, the expansion of MSMEs still faces challenges in terms of financial management and limited access to digital financial services. This study aims to analyze the influence of financial management and digital finance inclusion on the expansion of MSMEs in Kemayoran Village, Surabaya City. The research method used a quantitative approach by distributing questionnaires to 70 MSME respondents. Data analysis was carried out by partial least square regression (PLS) to test the influence of independent variables on dependent variables. The results of the study show that financial management has a positive and significant effect on the expansion of MSMEs, while digital finance inclusion also has a positive and significant effect. The novelty of this research lies in the combination of two key factors, namely financial management and digital finance inclusion, in one analysis model that was previously rarely studied in an integrated manner in the context of MSMEs at the village level. These findings confirm that strengthening financial management capacity and the use of digital financial services can encourage business expansion for MSMEs.
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