Determinants of Financial Literacy among Micro, Small, and Medium Enterprises (MSMEs) in Indonesia

This study examines the factors that determine financial literacy among Micro, Small, and Medium Enterprises (MSMEs) in Indonesia. The online questionnaire survey method was used in primary data collection. In this study, researchers got 192 respondents. There are 6 variables in this study, which is Education Background, financial behavior, financial awareness, financial attitude and financial planing. The results showed that the variables of financial attitude, financial planing and education background had a positive influence on financial literacy. However, Education Background influence positively but not significant on financial literacy. Financial awareness and financial behaviour negatively not significant with financial literacy. Among these, financial attitude appears to be the strongest factor and has a significant positive path. This study only focuses on the determine the extent of financial literacy among Indonesian MSMEs. As a result, the findings do not fully reflect Indonesia's actual level of financial literacy. Furthermore, because the number of respondents in this study is small (only 192), it is hoped that future research could increase a larger number of respondents.