Proceedings of the BISTIC Business Innovation Sustainability and Technology International Conference (BISTIC 2024)

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Confirmatory Analysis as a Tool for Forming Financial Inclusion, Financial Well-being, and Business Sustainability of MSMEs in the East Java Handicraft Export Sector

Authors
Ratnawati Ratnawati1, *, M. Taufiq Noor Rokhman1, Ayu Agus Tya Ningsih2
1Master of Management Study Program, Wisnuwardhana University, Malang, Indonesia
2Accounting Study Program, Faculty of Economics and Business, Wisnuwardhana University, Malang, Indonesia
*Corresponding author. Email: ratnawati_unidha@yahoo.com
Corresponding Author
Ratnawati Ratnawati
Available Online 19 November 2024.
DOI
10.2991/978-94-6463-576-8_13How to use a DOI?
Keywords
Financial inclusion; financial well-being; business sustainability
Abstract

The contribution of small and medium firms to enhancing the economic wellbeing of the community is substantial. Micro, Small, and Medium Enterprises (MSMEs) are fundamental to the nation’s attainment of economic stability. Enhancing financial well-being and sustainability has emerged as a primary objective, necessitating a comprehensive understanding of financial inclusion. This research aims to analyse the determinants of financial inclusion, financial well-being, and company sustainability to inform model development. The research sample comprises 236 export-oriented MSME participants in East Java, distributed across five districts. The research utilised confirmatory factor analysis approaches through Structural Equation Modelling software for data analysis. The confirmatory factor analysis results indicated that the primary indicator influencing financial inclusion is the utilisation of financial products and services. In contrast, the most significant contributor to financial well-being is financial management skills, while the business environment condition indicator is the foremost contributor to business sustainability.

Copyright
© 2024 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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Volume Title
Proceedings of the BISTIC Business Innovation Sustainability and Technology International Conference (BISTIC 2024)
Series
Advances in Economics, Business and Management Research
Publication Date
19 November 2024
ISBN
978-94-6463-576-8
ISSN
2352-5428
DOI
10.2991/978-94-6463-576-8_13How to use a DOI?
Copyright
© 2024 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

Cite this article

risenwbib
TY  - CONF
AU  - Ratnawati Ratnawati
AU  - M. Taufiq Noor Rokhman
AU  - Ayu Agus Tya Ningsih
PY  - 2024
DA  - 2024/11/19
TI  - Confirmatory Analysis as a Tool for Forming Financial Inclusion, Financial Well-being, and Business Sustainability of MSMEs in the East Java Handicraft Export Sector
BT  - Proceedings of the BISTIC Business Innovation Sustainability and Technology International Conference (BISTIC 2024)
PB  - Atlantis Press
SP  - 151
EP  - 159
SN  - 2352-5428
UR  - https://doi.org/10.2991/978-94-6463-576-8_13
DO  - 10.2991/978-94-6463-576-8_13
ID  - Ratnawati2024
ER  -