<![CDATA[Micro, small, and medium enterprises (MSMEs) in the food and beverage sector play a vital role in Jakarta's economy, yet the number of active business units has fluctuated sharply amid limited digital adoption, constrained raw-material management, and heavy dependence on personal capital. Prior studies have generally examined digital transformation, information and communication technology (ICT) capabilities, financial bootstrapping, entrepreneur competency, and innovation separately in relation to financial performance, producing inconsistent findings and rarely integrating all five factors within a single model, leaving a gap in the understanding of their combined influence. This study analyzes the effect of these five variables on the financial performance of food and beverage MSMEs in Jakarta. A quantitative survey was distributed to 100 MSME owners selected through purposive sampling, and the data were analyzed using Structural Equation Modeling with a Partial Least Squares approach. The results show that digital transformation, ICT capabilities, entrepreneur competency, and innovation have a positive effect on financial performance, whereas financial bootstrapping shows no significant effect. These findings indicate that technological and managerial capabilities meaningfully strengthen operational effectiveness and competitiveness, while reliance on internal funding alone remains insufficient without external financial support, offering an integrated perspective that has rarely been addressed in prior MSME research.]]>
