Covid-19 has changed the business model of SMEs to adapt to environmental changes. This study aims to determine whether or not financial literacy and digital transformation are a means for the SMEs' sustainability. The population in this study comprised SMEs in the culinary of Semarang. The samples were 125 questionnaires to prevent errors in filling out the questionnaires. The analysis in this study is an extension of multiple linear regression analysis to analyze the pattern of direct and indirect relationships with a set of independent (exogenous) variables to the dependent variable (endogenous). It further analyzed using the Sobel test. The results indicated that financial literacy had a significant positive effect on digital transformation. Financial literacy and digital transformation had a significant positive effect on SMEs’ sustainability.
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In-Text Citation: (Salsabila & Winarsih, 2021)
To Cite this Article: Salsabila, J. A., & Winarsih. (2021). The Impact of Covid-19 on Business Sustainability of SMEs in Semarang. International Journal of Academic Research in Business and Social Sciences, 11(18), 57–70.
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