The Influence of Human Resources Quality, Financial Literacy, and Managerial Ability on the Performance of MSMEs in Sumenep Regency
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Abstract
Micro, Small, and Medium Enterprises (MSMEs) have a strategic contribution to the national economy, including in Sumenep Regency, which is known for its potential agribusiness and local trade sectors. However, the performance of MSMEs in this area is still not optimal due to the low quality of human resources (HR), limited financial literacy, and weak managerial skills of business actors. This study aims to empirically analyze the influence of HR quality, financial literacy, and managerial skills on the performance of MSMEs in Sumenep Regency. The approach used is quantitative with a survey method of 20 MSMEs that have been operating for at least two years. Data were collected using a questionnaire with a Likert scale of 1–5 and analyzed using the Partial Least Squares–Structural Equation Modeling (PLS-SEM) method using SmartPLS software version 4. The results showed that the three independent variables have a positive and significant effect on MSME performance. HR quality has a significant effect with a path coefficient of 0.42 and a t-statistic of 3.67; Financial Literacy has a positive effect with a coefficient of 0.31 and a t-statistic of 2.95; Meanwhile, Managerial Ability has the most dominant influence with a coefficient of 0.46 and a t-statistic of 4.02. The R-square value of 0.72 indicates that 72% of the variation in MSME performance can be explained by these three variables. This study concludes that improving MSME performance in Sumenep Regency is highly dependent on human resource development, strengthening financial literacy, and managerial capabilities. These results provide practical implications for local governments and financial institutions to strengthen the capacity of MSME actors through integrated training and ongoing mentoring.
Keywords: Accountability, Human
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