SCOPING REVIEW: EFEKTIVITAS PENGGUNAAN FINTECH TERHADAP KINERJA UMKM INDONESIA
DOI:
https://doi.org/10.35446/bisniskompetif.v4i1.2069Keywords:
financial technology, MSMEs, financial performance, MSME performance, fundingAbstract
This scoping review aims to map existing research related to financial technology (fintech) on MSME performance in Indonesia. This scoping review follows the approach outlined by Arksey and O'Malley (2005), which includes: 1) determining the research question; 2) searching for relevant research; 3) selecting articles; 4) collecting data, and 5) collating, summarising and reporting results. The time span of the article is 2021-2024. The review found that fintech has significant positive impacts on various aspects of MSME performance, including improved financial performance, revenue, profitability, and sales. Fintech has also proven effective in overcoming financing constraints and improving access to capital for MSMEs. All articles reviewed have limitations, including the dominance of quantitative methods that may not fully capture the complexity of fintech adoption, and the lack of exploration of contextual factors such as digital infrastructure and government policies. For future research, it is recommended to conduct more in-depth qualitative studies and longitudinal analyses to understand the long-term effects of fintech, as well as explore the role of contextual variables that influence the effectiveness of fintech for MSMEs in Indonesia. Future literature reviews could focus on aspects of financial technology adoption, its relevance to financial inclusion and MSME behaviour, and factors that hinder the use of financial technology for MSMEs, especially in Indonesia.
References
Abbasi, K., Alam, A., Du, M. (Anna), & Huynh, T. L. D. (2021). FinTech, SME efficiency and national culture: Evidence from OECD countries. Technological Forecasting and Social Change, 163, 120454. https://doi.org/https://doi.org/10.1016/j.techfore.2020.120454
Adriani, & Yuniar, V. A. P. (2023). PENGARUH PENGGUNAAN DIGITAL PAYMENT TERHADAP KINERJA KEUANGAN PADA UMKM DI KOTA MAKASSAR. Jurnal Ilmiah Akuntansi Ekonomi Bisnis, Manajemen Akuntansi, 6(2). https://jurnal.stie-lpi.ac.id/index.php/neraca
Agustina, T., Chandrarin, G., & Manan, A. (2017). MSMEs Challenges in Phenomena of Disruption Era. In Journal of Economics and Sustainable Development www.iiste.org ISSN (Vol. 8, Issue 21). Online. www.iiste.org
Al-Mutawa, B., & Saeed Al Mubarak, M. M. (2024). Impact of cloud computing as a digital technology on SMEs sustainability. Competitiveness Review, 34(1), 72–91. https://doi.org/10.1108/CR-09-2022-0142
AlZayani, F., Mohammed, A., & Shoaib, H. M. (2024). The impact of smart technologies on SMEs’ sustainability: the mediation effect of sustainability strategy. Competitiveness Review, 34(1), 28–50. https://doi.org/10.1108/CR-09-2022-0136
Arksey, H., & O’Malley, L. (2005). Scoping studies: Towards a methodological framework. International Journal of Social Research Methodology: Theory and Practice, 8(1), 19–32. https://doi.org/10.1080/1364557032000119616
Arsyad, M. R., Nurwanah, A., & Nur, M. (2023). Pengaruh Transformasi Sistem Pencatatan Keuangan Dan Diigital Marketing Dengan Financial Technology Sebagai Variabel Moderasi Terhadap Profitabilitas UKM Kota Makassar. Jurnal Ilmiah Akuntansi Peradaban, 9(2), 2023. https://doi.org/10.24252/jiap.v9i1.43398
Astuti, M. R. D., Hanafi, R., & Sutapa. (2024). Pemanfaatan ICT Dan Fintech: Pentingkah Bagi Pelaku UMKM. JurnalEkonomi-Manajemen-Akuntansi(Equilibrium), 20(1), 60–70.
Buteau, S. (2021). Roadmap for digital technology to foster India’s MSME ecosystem—opportunities and challenges. CSI Transactions on ICT, 9(4), 233–244. https://doi.org/10.1007/s40012-021-00345-4
Candraningrat, I. R., Abundanti, N., Mujiati, N. W., Erlangga, R., & Jhuniantara, I. M. G. (2021). The role of financial technology on development of MSMEs. Accounting, 7(1), 225–230. https://doi.org/10.5267/j.ac.2020.9.014
Chen, C., Xiao, B., Wang, J., & Ye, H. (2023). The effects of fintech development on financing constraints of small and medium-sized enterprises—Evidence from China. Managerial and Decision Economics, 44(7), 4161–4172. https://doi.org/https://doi.org/10.1002/mde.3920
Cueto, L. J., Frisnedi, A. F. D., Collera, R. B., Batac, K. I. T., & Agaton, C. B. (2022). Digital Innovations in MSMEs during Economic Disruptions: Experiences and Challenges of Young Entrepreneurs. Administrative Sciences, 12(1). https://doi.org/10.3390/admsci12010008
Daud, I., Nurjannah, D., Mohyi, A., Ambarwati, T., Cahyono, Y., Haryoko, A. D. E., Handoko, A. L., Putra, R. S., Wijoyo, H., Ari-Yanto, A., & Jihadi, M. (2022). The effect of digital marketing, digital finance and digital payment on finance performance of indonesian smes. International Journal of Data and Network Science, 6(1), 37–44. https://doi.org/10.5267/J.IJDNS.2021.10.006
Direktorat Jenderal Perbendaharaan (2023). https://djpb.kemenkeu.go.id/kppn/lubuksikaping/id/data-publikasi/artikel/3134-kontribusi-umkm-dalam-perekonomianindonesia.html diakses 19 Agustus
Djoewita, D., Handayati, P., & Maharani, S. N. (2024). Peranan Financial Technology dan Literacy Keuangan Untuk Meningkatkan Kinerja Keuangan UMKM di Wilayah Malang. JurnalIlmiahAkuntansi, 5(1), 11–29.
Eggers, F. (2020). Masters of disasters? Challenges and opportunities for SMEs in times of crisis. Journal of Business Research, 116, 199–208. https://doi.org/10.1016/j.jbusres.2020.05.025
Foroudi, P., Gupta, S., Nazarian, A., & Duda, M. (2017). Digital technology and marketing management capability: achieving growth in SMEs. Qualitative Market Research, 20(2), 230–246. https://doi.org/10.1108/QMR-01-2017-0014
Gamage, K. A. A., Munguia, N., & Velazquez, L. (2022). Happy Sustainability: A Future Quest for More Sustainable Universities. Social Sciences, 11(1). https://doi.org/10.3390/socsci11010024
Gamage, S. K. N., Ekanayake, E. M. S., Abeyrathne, G. A. K. N. J., Prasanna, R. P. I. R., Jayasundara, J. M. S. B., & Rajapakshe, P. S. K. (2020). A review of global challenges and survival strategies of small and medium enterprises (SMEs). In Economies (Vol. 8, Issue 4). MDPI AG. https://doi.org/10.3390/ECONOMIES8040079
Gunawan, A., Jufrizen, & Pulungan, D. R. (2023). Improving MSME performance through financial literacy, financial technology, and financial inclusion. International Journal of Applied Economics, Finance and Accounting, 15(1), 39–52. https://doi.org/10.33094/ijaefa.v15i1.761
Hapsari, E. A., & Afriady, A. (2023). Analisis Perbandingan Financial Technology Pembayaran Digital Gopay Dan Ovo Terhadap Peningkatan Penjualan Umkm Kuliner Di Kota Bandung (Studi Pada GoFood dan GrabFood Partner). Indonesian Accounting Literacy Journal, 4(1), 66–72.
Harvie, C. (2019). Micro-, Small- and Medium-Sized Enterprises (MSMEs): Challenges, Opportunities and Sustainability in East Asia. In Trade Logistics in Landlocked and Resource Cursed Asian Countries (pp. 155–174). Springer Singapore. https://doi.org/10.1007/978-981-13-6814-1_7
Huang, S. (2022). Does FinTech improve the investment efficiency of enterprises? Evidence from China’s small and medium-sized enterprises. Economic Analysis and Policy, 74, 571–586. https://doi.org/https://doi.org/10.1016/j.eap.2022.03.014
Huang, Y., Zhang, L., Li, Z., Qiu, H., Sun, T., & Wang, X. (2020). WP/20/193 Fintech Credit Risk Assessment for SMEs: Evidence from China. https://ssrn.com/abstract=3721218
Ihsan, M., & Perdana Siregar, A. (2023). Equity Crowdfunding as a Performance Improvement Strategy for Micro, Small and Medium Enterprises (MSMEs). 3(6). https://doi.org/10.38035/dijefa.v3i6
Joshi, A. K., Matai, R., & Murthy, N. N. (2024). Measuring the impact of information and communication technology investment on the profitability of Indian manufacturing MSME. Bottom Line, 37(1), 98–115. https://doi.org/10.1108/BL-03-2023-0101
Kadin Indonesia (2023). UMKM Indonesia https://kadin.id/data-dan-statistik/umkm-indonesia/ diakses 5 September 2024
Karadag, Dr. H. (2016). The Role of SMEs and Entrepreneurship on Economic Growth in Emerging Economies within the Post-Crisis Era: an Analysis from Turkey. Journal of Small Business and Entrepreneurship Development, 4(1). https://doi.org/10.15640/jsbed.v4n1a3
Karim, S., Naz, F., Naeem, M. A., & Vigne, S. A. (2022). Is FinTech providing effective solutions to Small and Medium Enterprises (SMEs) in ASEAN countries? Economic Analysis and Policy, 75, 335–344. https://doi.org/10.1016/j.eap.2022.05.019
Kindström, D., Carlborg, P., & Nord, T. (2024). Challenges for growing SMEs: A managerial perspective. Journal of Small Business Management, 62(2), 700–723. https://doi.org/10.1080/00472778.2022.2082456
Kongolo, M. (2010). Job creation versus job shedding and the role of SMEs in economic development. African Journal of Business Management, 4(11), 2288–2295. http://www.academicjournals.org/AJBM
Kowo, S. A., Adenuga, O. A. O., & Sabitu, O. O. (2019). The role of SMEs development on poverty alleviation in Nigeria The role of SMEs development on poverty alleviation in Nigeria. EntrepreneurshipandSustainability, 1(3), 214–226. https://doi.org/10.9770/ird.2019.1.3(3)ï
Li, S., Bu, Y., Zhang, Z., & Huang, Y. (2024). Digital entrepreneurship intention and digital entrepreneurship behavior: the mediating role of managing learning and entrepreneurship education. Education and Training, 66(2–3), 195–212. https://doi.org/10.1108/ET-05-2023-0176
Li, X., Ye, Y., Liu, Z., Tao, Y., & Jiang, J. (2024). FinTech and SME’ performance: Evidence from China. Economic Analysis and Policy, 81, 670–682. https://doi.org/https://doi.org/10.1016/j.eap.2023.12.026
Maiti, M. (2018a). Scope for alternative avenues to promote financial access to MSMEs in developing nation evidence from India. International Journal of Law and Management, 60(5), 1210–1222. https://doi.org/10.1108/IJLMA-06-2017-0141
Maiti, M. (2018b). Scope for alternative avenues to promote financial access to MSMEs in developing nation evidence from India. International Journal of Law and Management, 60(5), 1210–1222. https://doi.org/10.1108/IJLMA-06-2017-0141
Manzoor, F., Wei, L., & Sahito, N. (2021). The role of SMEs in rural development: Access of SMEs to finance as a mediator. PLoS ONE, 16(3 March 2021). https://doi.org/10.1371/journal.pone.0247598
Morina, D., & Gashi, P. (2016). The Role of SMEs on the Economic Development: Kosova’s Case. SSRN. http://ssrn.com/abstract=2820980
Nindhya, W. A., & Widajantie, T. D. (2024). The Influence of Financial Literacy, FinancialTechnology, and Digital Marketing on Increasing MSME Income in the City of Surabaya. Journal of Economic, Business and Accounting (Costing), 7(4), 7867–7875.
Nurjanah, Y., & Dewi, K. (2023). Pengaruh Financial Technology Terhadap Pendapatan UKM di Bogor. Jurnal Ilmiah Akuntansi Kesatuan, 11(1), 147–156. https://doi.org/10.37641/jiakes.v11i1.1657
Peni, S. F. (2023). Pengaruh Kredit Modal Usaha, Finansial Teknologi, Modal Manusia Terhadap Kinerja Umkm Pada Masa Transisi Pandemi Covid-19. JURNAL AKBIS, 7(2), 39–46. https://doi.org/10.35308/akbis.v7i2.7654
Prasanna, R. P. I. R., Jayasundara, J. M. S. B., Gamage, S. K. N., Ekanayake, E. M. S., Rajapakshe, P. S. K., & Abeyrathne, G. A. K. N. J. (2019). Sustainability of SMEs in the competition: A systemic review on technological challenges and SME performance. In Journal of Open Innovation: Technology, Market, and Complexity (Vol. 5, Issue 4). Multidisciplinary Digital Publishing Institute (MDPI). https://doi.org/10.3390/joitmc5040100
Purnamasari, P., Pramono, I. P., Haryatiningsih, R., Ismail, S. A., & Shafie, R. (2020). Technology Acceptance Model of Financial Technology in Micro, Small, and Medium Enterprises (MSME) in Indonesia. Journal of Asian Finance, Economics and Business, 7(10), 981–988. https://doi.org/10.13106/jafeb.2020.vol7.no10.981
Rahadjeng, R. E., Sudarmiatin, & Hermawan, A. (2021). THE INFLUENCE OF FINANCIAL TECHNOLOGY ON THE FINANCIAL PERFORMANCE OF MSMES IN MALANG. Business and Accounting Research (IJEBAR) Peer Reviewed-International Journal, 5(4), 1346–1356. https://jurnal.stie-aas.ac.id/index.php/IJEBAR
Raj, B., & Upadhyay, V. (2020, February). Role of FinTech in Accelerating Financial Inclusion in India. 3rd International Conference on Economics and Finance.
Ramukumba, T. (2014). Overcoming SMEs Challenges through Critical Success Factors: A Case of SMEs in the Western Cape Province, South Africa. Economic and Business Review, 16(1). https://doi.org/10.15458/2335-4216.1178
Razak, D. A., Abdullah, M. A., & ERSOY, A. (2018). Small Medium Enterprises (SMEs) in Turkey and Malaysia A Comparative Discussion on Issues and Challenges. International Journal of Business, Economics and Law, 15(3), 1–10.
Sanga, B., & Aziakpono, M. (2024). FinTech developments and their heterogeneous effect on digital finance for SMEs and entrepreneurship: evidence from 47 African countries. Journal of Entrepreneurship in Emerging Economies. https://doi.org/10.1108/JEEE-09-2023-0379
Sari, M., Rani, M., Kurniasih, P., Jannah, S. R., Syariah, P. P., Islam, A., & Lampung, U. M. (2024). Potensi QRIS dalam Meningkatkan Daya Saing UMKM. https://doi.org/10.62710/4z9xnr54
Sari, S. W. P., Hastuti, H., Surya, R. T., & Hutapea, R. S. (2023). Pengaruh Kepuasaan Pelanggan Marketplace dan Fintech terhadap Penjualan UMKM Kuliner di Kota Bandung. Jurnal Riset Akuntansi, 15(1), 46–58.
Satria, C., Nofiansyah, D., & Cahya, B. D. (2024). Systematic Literature Review: Digital Financial and MSME Performance in Indonesia. AL IQTISHADIYAH JURNAL EKONOMI SYARIAH DAN HUKUM EKONOMI SYARIAH, 10(1), 27. https://doi.org/10.31602/iqt.v10i1.15031
Sekhar, S. C., & Radha, N. (2019). Impact of Globalization on MSME: Prospects, Challenges and Policy Implementation on Economic Growth. International Journal of Trend in Scientific Research and Development (IJTSRD), 3(6), 536–541.
UKM Indonesia (2023). Data UMKM, Jumlah dan Pertumbuhan Usaha Mikro, Kecil, dan Menengah di Indonesia https://ukmindonesia.id/baca-deskripsi-posts/data-umkm-jumlah-dan-pertumbuhan-usaha-mikro-kecil-dan-menengah-di-indonesia diakses 19 Agustus
Ullah, I., & Zeb, A. (2023). FinTech and firm’s cash holdings: evidence from China. Digital Policy, Regulation and Governance, 25(5), 522–541. https://doi.org/10.1108/DPRG-02-2023-0029
Uzkurt, C., Ekmekcioglu, E. B., Ceyhan, S., & Hatiboglu, M. B. (2024). Digital technology use of SMEs during the COVID-19 pandemic in Turkey: mobile applications’ role on motivation and job performance. Kybernetes, 53(4), 1354–1373. https://doi.org/10.1108/K-08-2022-1189
Verma, S., Shome, S., & Hassan, M. K. (2023). FinTech in small and medium enterprises (SMEs): A review and future research agenda. European Management Journal, 41(6), 950–971. https://doi.org/10.1016/j.emj.2023.07.003
Yang, H. (2019). Fintech as a Strategy of Financial Inclusion in the Age of Digitalization. 11(2), 93. https://ssrn.com/abstract=3554976
Yoshino, N., & Taghizadeh-Hesary, F. (2018). ADBI Working Paper Series THE ROLE OF SMES IN ASIA AND THEIR DIFFICULTIES IN ACCESSING FINANCE Asian Development Bank Institute. https://www.adb.org/publications/role-smes-asia-and-their-
Yuliani, R. G., Norisanti, N., & Danial, R. D. M. (2024). Pengaruh Financial Technology dan Akses Permodalan terhadap Kinerja UMKM pada UKM di Kota Sukabumi. Journal of Economic, Business and Accounting(Costing), 7(3), 5487–5501.
Yun, M. (2022). The impact of technological capability on MSME innovation: a case study of Vietnam. Asian Journal of Technology Innovation, 30(3), 491–518. https://doi.org/10.1080/19761597.2021.1890163
Zhou, N., & Sun, R. (2024). Coping with the storm: The role of fintech in SME survival. International Review of Financial Analysis, 93, 103157. https://doi.org/https://doi.org/10.1016/j.irfa.2024.103157
Zutshi, A., Mendy, J., Sharma, G. D., Thomas, A., & Sarker, T. (2021). From challenges to creativity: Enhancing smes’ resilience in the context of covid-19. In Sustainability (Switzerland) (Vol. 13, Issue 12). MDPI AG. https://doi.org/10.3390/su13126542
