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From Knowledge to Wellbeing: An Integrated Model of Financial Skill, Capability, Autonomy, and Digital Financial Literacy of Indian SME owners | International Journal of Advances in Business and Management Research (IJABMR)
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Articles
DOI: 10.62674/ijabmr.2026.v3i04.009
Published: 2026-06-12

From Knowledge to Wellbeing: An Integrated Model of Financial Skill, Capability, Autonomy, and Digital Financial Literacy of Indian SME owners

Narula Institute of Technology, 700109 West Bengal, India
JIS University, 700109 West Bengal, India
Techno India University, 700091 West Bengal, India
Digital Financial Literacy Financial Competence Financial Autonomy and Welfare SME/MSME

Abstract

Small and medium-sized enterprises (SMEs), particularly micro, small, and medium-sized enterprises (MSMEs), constitute the foundation of the Indian economy. They have a major impact on exports, industrial output, employment creation, and inclusive economic growth. Indian SME owners are increasingly expected to have advanced financial and digital competences due to the quick growth of digital ecosystems like UPI, fintech platforms, digital lending, and online payment systems. Recently, financial literacy has expanded to include digital financial literacy, financial independence, competence, and saving, budgeting, and credit management. Research shows that strong financial and digital competencies increase company health, performance, and decision-making. This research proposes an integrated paradigm that connects financial competence, financial autonomy, and financial welfare among Indian SME owners along with digital financial literacy. A quantitative and explanatory research strategy was chosen for the investigation. Secondary data was gathered from the last five years' Ministry of MSME Reports. 350 SMEs make up the sample, and stratified random sampling is the method used.

Financial well-being, for these entrepreneurs, now goes hand in hand with how well they can navigate the digital world. This study aims to create an integrated model to comprehend the way financial knowledge may be deciphered into sustainable financial wellbeing for Indian SME owners in the digital era. There has been a major transformation in managing fund of Indian small business entrepreneurs. Running a successful SME now requires more than just understanding the numbers; it also requires being at ease using digital tools, making self-assured judgments, and developing true financial competency from the ground up. For these entrepreneurs, their ability to successfully traverse the digital environment now directly correlates with their financial well-being. The study aims to develop an integrated model that links these components to better understand how financial knowledge may be turned into sustainable financial health.

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How to Cite

Chakraborty, S., Dutta, S., & Das, S. (2026). From Knowledge to Wellbeing: An Integrated Model of Financial Skill, Capability, Autonomy, and Digital Financial Literacy of Indian SME owners. International Journal of Advances in Business and Management Research (IJABMR), 3(4), 94–114. https://doi.org/10.62674/ijabmr.2026.v3i04.009

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Swami Vivekananda Global Academy, India

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