FinTech in the Small Food Business and Its Relation with Open Innovation
Small food businesses have difficulty accessing banks for financing. The growth of the sharing economy through financial technology (FinTech) makes it possible for small enterprises to receive access for credit. However, not all small business owners want to receive financing from FinTech companies....
| Main Authors: | , , , , |
|---|---|
| Format: | Article |
| Language: | English |
| Published: |
Elsevier
2021-03-01
|
| Series: | Journal of Open Innovation: Technology, Market and Complexity |
| Subjects: | |
| Online Access: | https://www.mdpi.com/2199-8531/7/1/88 |
| _version_ | 1827613769951346688 |
|---|---|
| author | Mukhamad Najib Wita Juwita Ermawati Farah Fahma Endri Endri Dwi Suhartanto |
| author_facet | Mukhamad Najib Wita Juwita Ermawati Farah Fahma Endri Endri Dwi Suhartanto |
| author_sort | Mukhamad Najib |
| collection | DOAJ |
| description | Small food businesses have difficulty accessing banks for financing. The growth of the sharing economy through financial technology (FinTech) makes it possible for small enterprises to receive access for credit. However, not all small business owners want to receive financing from FinTech companies. This study aims to analyze factors affecting FinTech adoption in small enterprises and its impact on business sustainability. The modified UTAUT 2 model was applied in this study. There were 184 small food business owners participating as respondents. To analyze the causal relationship between variables, Structural Equation Modeling (SEM) was implemented using a Partial Least square (SEM-PLS). The results of the research found that knowledge, safety perceptions, performance expectations, social influence, facilitation conditions and price values affect FinTech adoption by small food business owners. Moreover, FinTech adoption influences small food business sustainability. Several important recommendations for researchers, the FinTech industry and policy makers are formulated. |
| first_indexed | 2024-03-09T08:44:24Z |
| format | Article |
| id | doaj.art-f042eef6ea044d3cbd2af0e75e9f52f1 |
| institution | Directory Open Access Journal |
| issn | 2199-8531 |
| language | English |
| last_indexed | 2024-03-09T08:44:24Z |
| publishDate | 2021-03-01 |
| publisher | Elsevier |
| record_format | Article |
| series | Journal of Open Innovation: Technology, Market and Complexity |
| spelling | doaj.art-f042eef6ea044d3cbd2af0e75e9f52f12023-12-02T15:51:39ZengElsevierJournal of Open Innovation: Technology, Market and Complexity2199-85312021-03-017888810.3390/joitmc7010088FinTech in the Small Food Business and Its Relation with Open InnovationMukhamad Najib0Wita Juwita Ermawati1Farah Fahma2Endri Endri3Dwi Suhartanto4Department of Management, IPB University, Bogor 16680, IndonesiaDepartment of Management, IPB University, Bogor 16680, IndonesiaDepartment of Agroindustrial Technology, IPB University, Bogor 16680, IndonesiaDepartment of Master Management Graduate Programs, Universitas Mercu Buana, Jakarta 11650, IndonesiaDepartment of Business Administration, Politeknik Negeri Bandung, Bandung 400012, IndonesiaSmall food businesses have difficulty accessing banks for financing. The growth of the sharing economy through financial technology (FinTech) makes it possible for small enterprises to receive access for credit. However, not all small business owners want to receive financing from FinTech companies. This study aims to analyze factors affecting FinTech adoption in small enterprises and its impact on business sustainability. The modified UTAUT 2 model was applied in this study. There were 184 small food business owners participating as respondents. To analyze the causal relationship between variables, Structural Equation Modeling (SEM) was implemented using a Partial Least square (SEM-PLS). The results of the research found that knowledge, safety perceptions, performance expectations, social influence, facilitation conditions and price values affect FinTech adoption by small food business owners. Moreover, FinTech adoption influences small food business sustainability. Several important recommendations for researchers, the FinTech industry and policy makers are formulated.https://www.mdpi.com/2199-8531/7/1/88FinTechadoptionsmall food businessesbusiness sustainabilityfinancingIndonesia |
| spellingShingle | Mukhamad Najib Wita Juwita Ermawati Farah Fahma Endri Endri Dwi Suhartanto FinTech in the Small Food Business and Its Relation with Open Innovation Journal of Open Innovation: Technology, Market and Complexity FinTech adoption small food businesses business sustainability financing Indonesia |
| title | FinTech in the Small Food Business and Its Relation with Open Innovation |
| title_full | FinTech in the Small Food Business and Its Relation with Open Innovation |
| title_fullStr | FinTech in the Small Food Business and Its Relation with Open Innovation |
| title_full_unstemmed | FinTech in the Small Food Business and Its Relation with Open Innovation |
| title_short | FinTech in the Small Food Business and Its Relation with Open Innovation |
| title_sort | fintech in the small food business and its relation with open innovation |
| topic | FinTech adoption small food businesses business sustainability financing Indonesia |
| url | https://www.mdpi.com/2199-8531/7/1/88 |
| work_keys_str_mv | AT mukhamadnajib fintechinthesmallfoodbusinessanditsrelationwithopeninnovation AT witajuwitaermawati fintechinthesmallfoodbusinessanditsrelationwithopeninnovation AT farahfahma fintechinthesmallfoodbusinessanditsrelationwithopeninnovation AT endriendri fintechinthesmallfoodbusinessanditsrelationwithopeninnovation AT dwisuhartanto fintechinthesmallfoodbusinessanditsrelationwithopeninnovation |