FINANCIAL BOOTSTRAPPING DAN KINERJA UMKM: PERAN MODERASI LITERASI KEUANGAN

Chintya Wira Dika, Maria Rio Rita, Imanuel Madea Sakti

Abstract

The classic problem faced by MSMEs is limited access to funds from banks. This makes MSMEs to look for alternative strategy, one of which is through financial bootstrapping. This study aimed to examine the effect of financial bootstrapping on the performance of MSMEs with financial literacy as a moderator. The research sample were 38 MSME owners in Salatiga City, which were tested by Moderated Regression Analysis (MRA). The results showed that financial bootstrapping had a negative effect on the performance of MSMEs and the moderating role of financial literacy were proven. This means that when financial bootstrapping is supported by financial literacy from business actors, business performance will increase.

Key words: Financial Bootstrapping, Financial Literacy, MSMEs Performance

References

Adomako, S., Danso, A., & Ofori Damoah, J. (2015). The moderating influence of financial literacy on the relationship between access to finance and firm growth in Ghana. Venture Capital, 18(1), 43–61.

Dahmen, P., & Rodríguez, E. (2014). Financial literacy and the success of small businesses: An observation from a small business development center. International Journal Of Numeracy, 7(1), 1–2.

Davidsson, P., Achtenhagen, L., & Naldi, L. (2010). Small firm growth. Foundations and Trends in Entrepreneurship, 6(2), 69–166.

Efrata, T. C., & Christian Herdinata. (2012). Penerapan metode bootstrap financing pada usaha kecil dan menengah di Surabaya. Keuangan Dan Perbankan, 16(3), 399–406.

Hartomo, G. (2019). UMKM sumbang Rp 8.400 triliun ke perekonomian nasional pada 2018. Economy.Okezone.Com. https://economy.okezone.com/read/2019/06/19/320/2068296/umkm-sumbang-rp8-400-triliun-ke-perekonomian-nasional-pada-2018

Jones, O., & Jayawarna, D. (2010). Resourcing new businesses: Social networks, bootstrapping and firm performance. Venture Capital, 12(2), 127–152.

Löfqvist, L. (2017). Product innovation in small: Companies managing resource scarcity through financial bootstrapping. Journal of Innovation Management, 21(2), 1–27.

Monika, N., Nohe, D. A., & Sifriyani. (2013). Analisis chi-square dan transformasi data ordinal ke data interval menggunakan Methods of Succesive Interval (MSI) (Studi kasus: Siswa kelas XI SMA Negeri 5 Samarinda). Jurnal Eksponensial, 4, 85–90.

Ningrum, I. A. (2018). Analisis faktor pengaruh literasi keuangan terhadap pelaku UMKM Kota Makassar (Studi kasus Pasar Sentral). 7, 1–25.

Putra, D. A. (2018). Kemenkop: Baru 20 persen UMKM yang mengakses modal lewat bank. Merdeka.Com. https://www.merdeka.com/uang/kemenkop-baru-20-persen-umkm-yang-mengakses-modal-lewat-bank.html

Rakhmawati, F. F. (2018). Pengaruh literasi keuangan, penggunaan informasi akuntansi dan sumber daya manusia terhadap kinerja UKM (Studi kasus UKM Batik Tulis di Kabupaten Pekalongan). Ekonomi Dan Bisnis, 1–16.

Rita, M. R. (2019). Financial bootstrapping: External financing dependency alternatives for SMEs. Jurnal Ekonomi Dan Bisnis, 22(1), 83–100.

Rutherford, M. W., Coombes, S. M. T., & Mazzei, M. J. (2012). The impact of bootstrapping on new venture performance and survival: A longitudinal analysis. Frontiers of Entrepreneurship Research, 32(12), 4.

Sabila, S. O., & Wijayangka, C. (2019). Pengaruh literasi keuangan terhadap pertumbuhan usaha pada UMKM. Jurnal Manajemen Dan Bisnis, 3(1), 145–152.

Sari, E. V. (2016). BI: Tingkat literasi keuangan pelaku UMKM rendah. Cnnindonesia.Com.

Sindani, M. N. (2019). The moderating effect of financial literacy on the relationship between accounts receivable management practices and growth of smes in Kenya. Expert Journal of Finance, 7(1), 1–7.

Vanacker, T., Manigart, S., Meuleman, M., & Sels, L. (2011). A longitudinal study on the relationship between financial bootstrapping and new venture growth. Entrepreneurship and Regional Development, 23(9–10), 681–705.

Widiastuti, R., & Rita, M. R. (2017). Apakah Kredit Usaha Rakyat (KUR) berdampak pada kinerja usaha?: Studi pada UMKM makanan ringan di Kota Salatiga. Jurnal Visi Manajemen, 2(2), 100–115.

DOI: https://doi.org/10.20961/jkb.v26i1.44726

Refbacks

  • There are currently no refbacks.