Financial Literacy and Business Sustainability Among Msmes in Denpasar City: the Mediating Role of Access to Financial Services

Made Surya Pramana; Ida Ayu Agung Idawati; Ida Ayu Dinda Priyanka Maharani; Putu Iwan Pramana Putra

doi:10.38142/jebd.v4i4.435

Authors

Made Surya Pramana Universitas Warmadewa, Indonesia
Ida Ayu Agung Idawati Universitas Warmadewa, Indonesia
Ida Ayu Dinda Priyanka Maharani Universitas Warmadewa, Indonesia
Putu Iwan Pramana Putra Universitas Warmadewa, Indonesia

DOI:

https://doi.org/10.38142/jebd.v4i4.435

Keywords:

Financial Literacy, Access to Financial Services, Business Sustainability, MSMEs

Abstract

This study examines the impact of financial literacy on business sustainability, with access to financial services serving as a mediating variable, among MSMEs in Denpasar City. An exploratory quantitative approach was employed. Primary data were collected via questionnaires distributed to 300 MSME business owners—using a 5-point Likert scale—and analyzed by the Partial Least Squares-Structural Equation Modelling (PLS-SEM) method with SmartPLS 4.0 software. The results indicate that financial literacy has a positive and significant influence on both business sustainability and access to financial services. Access to financial services was also found to have a positive and significant impact on business sustainability. Furthermore, the analysis of indirect effects demonstrates that access to financial services mediates the relationship between financial literacy and business sustainability. These findings suggest that enhancing financial literacy among business owners, supported by easy access to financial services, can improve and strengthen the long-term viability of MSMEs. From a practical perspective, this study provides MSME owners and stakeholders with insight into how financial literacy education and expanded access to financial services are fundamental factors in fostering MSME growth in Denpasar City.

Downloads

Download data is not yet available.

References

Aisyah, H., Puspita, S., & Elizamiharti. (2022). Resource-Based View: Strategi UMKM Di Sumatra Barat Untuk Mencapai Keunggulan Kompetitif. Jurnal Riset Manajemen & Bisnis Dewantara (JMD). Vol 5. No 2. Pp 109-120

Anggara, R., & Purnamawati, I. G. A. (2023). Pengaruh Literasi Keuangan Dan Akses Permodalan Terhadap Keberlangsungan UMKM Di Kecamatan Karangasem. Jurnal Ilmiah Mahasiswa Akuntansi. Vol 14. No 3. Pp 549-558

Barney, J. B. (1991). Firm Resources and Sustained Competitive Advantage. Journal of Management Science (JMS). Vol 17. Pp 99-120

Demirguc-Kunt, A., Klapper, L., Singer, D., & Ansar, S. (2018). The Global Findex Database 2017: Measuring Financial Inclusion and The Fintech Revolution. World Bank.

Destiari, A. A. (2025). The Effect of Digitalization, Financial Literacy, and Financial Inclusion on The Sustainability of Micro, Small, and Medium Enterprises. Jurnal Akuntansi & Keuangan Unja. Vol 9. No 3. Pp 172-180

Dewi, I. A. P. R., & Candraningrat, I. R. (2022). Relationship of Financial Literacy and Financial Performance to Business Sustainability: Study on MSMEs iin Denpasar City. International Research Journal of Management, IT and Social Sciences. No 9. Vol 4. Pp 598-611

Dwiastanti, A., & Mustapa, G. (2020). Pengaruh Karakteristik Wirausaha, Lingkungan Eksternal dan Strategi Bertahan Umkm dalam Menjaga Keberlangsungan Usaha di Musim Pandemi Covid-19. Business and Accounting Education Journal. Vol 1. No3. Pp 228-240

Engstrom, S., & McKelvie, S. (2023). The Association Between Intelligence and Financial Literacy: A Conceptual and Meta-Analytic Review. Intelligence, 100, 101781

Ginting, W. A. (2018). Analisis Faktor-Faktor Yang Mempengaruhi Opini Audit Going Concern (Analysis of Factors Effecting Going Concern Audit Opinions). Jurnal REKSA: Rekayasa Keuangan, Syariah, Audit. Vol 5. No 1. Pp 45-53

Hamzah, A. (2025). What Drives SMEs Financial Sustainablity in The Digital Era?. JURISMA: Jurnal Riset Bisnis dan Manajemen. Vol 15. No 2. Pp 351-371

Hair, J. F., Hult, G. T. M., Ringle, C. M., & Sarstedt, M. (2022). A Primer on Partial Least Square Structural Equation Modeling (PLS-SEM) (3rd ed). Sage Publications

Idawati, I. A. A., & Pratama, I. G. S. (2023). Inklusi Keuangan Dan Literasi Keuangan Terhadap Kinerja Dan Keberlangsungan Umkm Di Kota Denpasar. Jurnal Bisnis Dan Kajian Strategi Manajemen. Vol 7. No 2. Pp 205-222

Idris, A., Munir, M., & Iqbal, M. A. (2023). How Does Financial Literacy Improve Sustainability Business In Batik SMEs?. STABILITY: Journal of Management & Business. Vol 6. No 1. Pp 63-81

Leatemia, S. Y. (2023). PEngaruh Literasi Keuangan dan Inklusi Keuangan Terhadap Kinerja Usaha Mikro, Kecil, dan Menengah (UMKM). Ekonomi, Keuangan, Investasi dan Syariah (EKUITAS). Vol 4. No 4. Pp 1152-1159

Lusardi, A., & Mitchell, O. S. (2014). The Economic Importance of Financial Literacy: Theory and Evidence. Journal of Economic Literature. Vol 52. No 1. Pp 5-44

Mabula, J. B., & Ping, H. D. (2018). Financial Literacy of SME Manager’s on Access to Finance and Performance: The Mediating Role of Financial Service Utilization. International Journal of Advanced Computer Science and Applications, 9(9).

Magroaini, A. I., Poernamawatie, F., Aini, A. A., & Hastuti, S. (2025). The Role of Cultural Festivals in The Sustainability of Micro and Small Enterprises. Jurnal Ilmiah Manajemen Kesatuan. Vol 13. No 2. Pp 713-724

Megananda, L. Y. L., & Utomo, R. B. (2026). Pengaruh Literasi Keuangan Terhadap Keberlanjutan Usaha Dengan Akses Pembiayaan Perbankan Sebagai Variabel Mediasi. International Journal of Multidisipliner Research. Vol 4. No 3. Pp 2638-2651

Miller, D. (2019). The Resource-Based View of The Firm. In Oxford Research Encyclopedia of Business of Business and Management. Oxford University Press

Mukoffi, A., Wibisono, S. H., As’adi, A., & Sularsih. (2025). Peran Perilaku Keuangan dan Inklusi Keuangan Dalam Menjaga Keberlangsunga Usaha UMKM di Kota Batu: Financial Behavior, Financial Inclusions and Business Continuity. Jurnal Paradigma Ekonomika. Vol 20. No 4. Pp 37-45

Oktayani, K. S., & Dewi, L. G. K. (2024). Pengaruh Akses Keuangan, Modal Keuangan, Dan Kebijakan Pemerintah Terhadap Pertumbuhan UMKM di Kecamatan Buleleng. Jurnal Akuntansi Profesi. Vol 15. No 2. Pp 433-447

Projadi, R., & Desiana, P. M. (2017). Factors Affecting The Profitability and Growth of Small & Medium Enterprises (SMEs) in Indonesia. International Journal of Economics and Management. Vol 11. No 1. Pp 35-44

Ramadani, A. G., Ferawati., & Marheni, D. K. (2025). Access To Finance As A Mediator Of The Relationship Between Financial Literacy And Financial Technology And The Sustainability of MSMEs. Jurnal Manajerial. Vol 12. No 3. Pp 401-429

Reddy, K., Wallace, D., & Wellalage, N. H. (2025). The Impact of Financial Literacy on Financial Inclusion. Australian Journal of Management. Vol 50 No 4. Pp 1187-1214

Remund, D. L. (2010). Financial Literacy Explicated: The Case For a Clearer Definition in An Increasingly Complex Economy. Journal of Consumer Affairs. Vol 44. No 2. Pp 276-295

Reza, O. N., Mawardi, M. C., & Sari, A. F. K. (2024). Pengaruh Literasi Keuangan, Inklusi Keuangan, Akses Permodalan, dan Penggunaan E-Commerce Terhadap Kinerja UMKM (Studi Pada Pelaku UMKM di Kabupaten Blitar). E_Jurnal Ilmiah Riset Akuntansi. Vol 13. No 1. Pp 531-539

Ridha, N. (2017). Proses Penelitian, Masalah, Variabel dan Paradigma Penelitian. Jurnal Hikmah. Vol 14. No 1. Pp 62-70

Ristanti, N., & Sari, D. (2026). Pengaruh Literasi Keuangan dan Akses Layanan Keuangan Terhadap Kinerja UMKM Dengan Perilaku Pengelolaan Keuangan Sebagai Variabel Intervening pada UMKM di Bandung. Jurnal Ilmu Multidisiplin. Vol 5. No 1. Pp 10-23

Samsiyah, S., Dwiarta, I. M. B., Arianto, B., & Ardhani, M. R. (2023). Penerapan Strategi Branding UMKM Desa Wage Kecamatan Taman Sidoarjo. EKOBIS ABDIMAS: Jurnal Pengabdian Masyarakat. Vol 4. No 2. Pp 43-51

Sofyan, S. (2017). Peran UMM (Usaha, Mikro, Kecil, Dan Menengah) Dalam Perekonomian Indonesia. Jurnal Bilancia. Vol 11. No 1. Pp 33-59

Subhaktiyasa, P. G. (2024). Menentukan Populasi dan Sampel: Pendekatan Metodologi Penelitian Kuantitatif dan Kualitatif. Jurnal Ilmiah Profesi Pendidikan. Vol 9. No 4. Pp 2721-2731

Tangi, V. E., Pradnyani, N. L. P. S. P., & Suryantari, E. P. (2025) The Effect of Financial Technology, Financial Literacy, and Financial Inclusion on Business Sustainability of Micro, Small, and Medium Enterprises (MSMEs) in Badung Regency. Interational Journal of PERTAPSI. Vol 3. No 1. Pp 23-32

Yunita, A., Cahyaningtyas, S. R., & Lenap, I. P. (2023). Peran Access To Finance Dalam Memediasi Financial Literacy Dan Sustainability Pada UMKM Di Kota Mataram. Jurnal Aplikasi Akuntansi. Vol 8. No 1. Pp 173-187