Pengaruh Literasi dan Inklusi Keuangan terhadap Kinerja UMKM Melalui Digital Marketing dan Sustainability Orientation

Anggun Puspita Rini (Universitas Mercu Buana Yogyakarta, Yogyakarta)
Martinus Budiantara (Universitas Mercu Buana Yogyakarta, Yogyakarta)

EKONOMI, KEUANGAN, INVESTASI DAN SYARIAH (EKUITAS)
Vol 7 No 4 (2026): May 2026

Micro, Small, and Medium Enterprises (MSMEs) are considered capable of contributing to community economic growth. However, MSME performance remains volatile due to various constraints, including financial management limitations, restricted legality of access to financial services, and minimal utilization of digital marketing channels. Concurrently, market demands for business practices with economic, social, and environmental responsibility are intensifying, compelling MSME actors to adopt a sustainability orientation. This study focused on MSMEs in Kebumen Regency. The research aimed to analyze the effect of financial literacy and financial inclusion on MSME performance, with the mediating role of digital marketing and sustainability orientation. A quantitative approach was employed, using data from 80 MSME owners collected through questionnaires. Analysis was conducted using Partial Least Squares - Structural Equation Modeling (PLS-SEM) with SmartPLS 4.1.1.4. The results supported all hypotheses. Financial Literacy (β = 0.223, T = 2.982, p < 0.01) and Financial Inclusion (β = 0.180, T = 2.351, p < 0.05) had positive and significant effects on MSME Performance. Both variables also significantly influenced Digital Marketing and Sustainability Orientation. Financial Literacy affected Digital Marketing (β = 0.448, p < 0.001) and Sustainability Orientation (β = 0.464, p < 0.001), while Financial Inclusion influenced Digital Marketing (β = 0.489, p < 0.001) and Sustainability Orientation (β = 0.456, p < 0.001). Furthermore, Digital Marketing (β = 0.333, p < 0.001) and Sustainability Orientation (β = 0.394, p < 0.001) were proven to significantly enhance MSME Performance. These findings confirm that Digital Marketing and Sustainability Orientation are crucial operational strategies for improving MSME Performance. Therefore, enhancing Financial Literacy and Financial Inclusion can strengthen MSME Performance both directly and indirectly through Digital Marketing and Sustainability Orientation.