The Impact of Fintech and Financial Inclusion on SMEs’ Growth and Development

Small and Medium Enterprises (SMEs) are crucial drivers of economic growth, innovation, and employment, particularly in developing countries like India. However, these enterprises often face significant challenges in accessing financial resources and integrating advanced technologies into their operations. Financial Technology (Fintech) has emerged as a transformative force in the financial sector, offering innovative solutions to enhance the efficiency and accessibility of financial services for SMEs. This study explores the relationships among Fintech, financial inclusion, and the growth and development of manufacturing SMEs in India. By employing a quantitative approach and utilising Partial Least Squares Structural Equation Modelling (PLS-SEM), data from 366 manufacturing SME owners in India were analysed. The findings reveal that Fintech significantly enhances financial inclusion, which in turn supports the growth and development of SMEs. The results provide valuable insights for policymakers and stakeholders, highlighting the positive impacts of Fintech and financial inclusion on SME growth and development

Face (sociological concept · Financial deepening · Financial inclusion · Financial sector development · Financial services · Fintech · Structural equation modeling · Transformative learning · FinTech, Crowdfunding, Digital Finance · Microfinance and Financial Inclusion · Technology Adoption and User Behaviour