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FinTech in the Small Food Business and Its Relation with Open Innovation

1
Department of Management, IPB University, Bogor 16680, Indonesia
2
Department of Agroindustrial Technology, IPB University, Bogor 16680, Indonesia
3
Department of Master Management Graduate Programs, Universitas Mercu Buana, Jakarta 11650, Indonesia
4
Department of Business Administration, Politeknik Negeri Bandung, Bandung 40012, Indonesia
*
Author to whom correspondence should be addressed.
J. Open Innov. Technol. Mark. Complex. 2021, 7(1), 88; https://0-doi-org.brum.beds.ac.uk/10.3390/joitmc7010088
Received: 18 February 2021 / Revised: 1 March 2021 / Accepted: 4 March 2021 / Published: 8 March 2021
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. 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. View Full-Text
Keywords: FinTech; adoption; small food businesses; business sustainability; financing; Indonesia FinTech; adoption; small food businesses; business sustainability; financing; Indonesia
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MDPI and ACS Style

Najib, M.; Ermawati, W.J.; Fahma, F.; Endri, E.; Suhartanto, D. FinTech in the Small Food Business and Its Relation with Open Innovation. J. Open Innov. Technol. Mark. Complex. 2021, 7, 88. https://0-doi-org.brum.beds.ac.uk/10.3390/joitmc7010088

AMA Style

Najib M, Ermawati WJ, Fahma F, Endri E, Suhartanto D. FinTech in the Small Food Business and Its Relation with Open Innovation. Journal of Open Innovation: Technology, Market, and Complexity. 2021; 7(1):88. https://0-doi-org.brum.beds.ac.uk/10.3390/joitmc7010088

Chicago/Turabian Style

Najib, Mukhamad, Wita J. Ermawati, Farah Fahma, Endri Endri, and Dwi Suhartanto. 2021. "FinTech in the Small Food Business and Its Relation with Open Innovation" Journal of Open Innovation: Technology, Market, and Complexity 7, no. 1: 88. https://0-doi-org.brum.beds.ac.uk/10.3390/joitmc7010088

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