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All Journal Management Dynamics: International Journal of Management and Digital Sciences
Alfaira Alfaira
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Decision Sciences, Operations Research & Management

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Empowering MSMEs Through Financial Literacy: Exploring Strategies for Sustainable Growth Alfaira Alfaira; Dyah Palupiningtyas
Management Dynamics: International Journal of Management and Digital Sciences Vol. 2 No. 2 (2025): International Journal of Management and Digital Sciences
Publisher : International Forum of Researchers and Lecturers

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.70062/managementdynamics.v2i2.87

Abstract

This study examines strategies to increase financial literacy to encourage the growth of MSME financial performance in Semarang Regency. Using a qualitative approach, the study involved 120 MSMEs with data collection through in-depth interviews, observations, and focus group discussions. The results of the study show that the condition of financial literacy is still low, with 65.3% of MSMEs not doing regular financial records, 77.5% mixing business-personal finance, and 81.7% lacking understanding of financial products. Structured mentoring programs with a holistic approach have proven to be effective in increasing the financial management capacity of MSMEs, marked by an increase in turnover (35.2%), operational efficiency (24.7%), and access to capital (19.8%). Multi-stakeholder collaboration and digital technology integration are key factors in the success of the program. The research results in a financial literacy development framework that can be adapted for implementation in other regions.
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