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The Roles of Financial Literacy on MSMEs Financial Inclusion

In: Proceedings of the BISTIC Business Innovation Sustainability and Technology International Conference (BISTIC 2022)

Author

Listed:
  • Buyung Adi Dharma

    (Universitas Negeri Malang)

  • Madziatul Churiyah

    (Universitas Negeri Malang)

Abstract

Economic recovery due to the Covid-19 pandemic is being carried out by all countries in the world who are members of The Group of Twenty (G-20) Minister of Finance and Governor of Central Banks to avoid an economic recession. All economic actors globally are changing their new business strategies and tactics. Micro, Small and Medium Enterprises (MSMEs) owned by the Indonesian people have a major role in generating the country’s economy. Business people do not only have to always think innovatively and creatively but also have to make changes to the business system, especially in the financial sector. Financial literacy is still not reached by business actors. The financial system is taken for granted and has no particular impact on business. The recording of business financial flows is still common and only simple. The purpose of community service is to train and assist business actors in providing an understanding of financial literacy. Business people receive a project to develop a financial recording system that is integrated with technology. The results of the analysis show that business actors have a good level of understanding of financial literacy to improve the business financial recording system. Financial literacy training and mentoring can support more systematic business management and profitability.

Suggested Citation

  • Buyung Adi Dharma & Madziatul Churiyah, 2023. "The Roles of Financial Literacy on MSMEs Financial Inclusion," Advances in Economics, Business and Management Research, in: Dediek Tri Kurniawan & Ika Zutiasari (ed.), Proceedings of the BISTIC Business Innovation Sustainability and Technology International Conference (BISTIC 2022), pages 337-346, Springer.
    • Handle: RePEc:spr:advbcp:978-94-6463-178-4_34
    DOI: 10.2991/978-94-6463-178-4_34
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