THE EFFECT OF BUSINESS FEASIBILITY STUDY, ECONOMIC LITERACY, AND TECHNOLOGICAL READINESS ON MSME BUSINESS SUSTAINABILITY IN THE ERA OF GLOBAL COMPETITION
DOI:
https://doi.org/10.66303/8yxj1s25Keywords:
Business Feasibility Study, Economic Literacy, Technological Readiness, Business SustainabilityAbstract
Purpose: This study aims to analyze the effect of business feasibility studies, economic literacy, and technological readiness on the business sustainability of Micro, Small, and Medium Enterprises (MSMEs) in Rappocini District, Makassar City. The background of this study is driven by global competition challenges that require MSMEs to possess adaptive capabilities, well-structured business planning, and effective utilization of digital technology.
Methods: This study employs a quantitative approach using Structural Equation Modeling–Partial Least Squares (SEM-PLS) and involves 223 MSME actors selected through purposive sampling. Data were collected using a Likert-scale questionnaire (1–4) and analyzed through outer model and inner model evaluation using SmartPLS.
Results: The results indicate that all three independent variables significantly affect business sustainability, with technological readiness being the most dominant factor, followed by business feasibility studies, while economic literacy shows a smaller yet still significant effect. The R-square value of 0.933 confirms that technological readiness, economic literacy, and business feasibility studies explain 93.3% of the variance in MSME business sustainability.
Conclusion: This study concludes that enhancing technology utilization, strengthening business feasibility analysis, and improving economic literacy are crucial strategies in promoting MSME sustainability in the era of global competition.
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