The impact of digital financial services on financial inclusion among young entrepreneurs in Malaysia

Gan, Xin Ying and Loh, Xin Yi and Ng, Kha Xuan (2024) The impact of digital financial services on financial inclusion among young entrepreneurs in Malaysia. Final Year Project, UTAR.

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Abstract

Financial inclusion refers to enabling people of all income levels to access financial products and services that meet their needs and are affordable. Against the backdrop of Malaysia's growing economy, a significant portion of young entrepreneurs, still face challenges in accessing traditional financial services. Digital financial services offer a potential solution by utilising technology to provide financial products and services that are more accessible, efficient and responsive to the needs of these entrepreneurs. This study focuses on examining the role of digital financial services, financial literacy, financial attitudes, regulatory environment, and technological infrastructure in enhancing financial inclusion among young Malaysian entrepreneurs. Data was collected through a self-administered questionnaire which was distributed to a sample of young entrepreneurs across Malaysia and a total of 384 valid responses were received. Statistical analyses were conducted using SPSS software. The research project result concluded the independent variables towards the financial inclusion among young entrepreneurs in Malaysia. The study provides valuable insights for policy makers, financial institutions and academics, highlighting the need for customised financial products and the importance of strengthening digital infrastructure and financial education. By addressing these challenges, the study aims to support the broader goal of achieving sustainable economic development by increasing the financial inclusion of young entrepreneurs in Malaysia.

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