Improving the welfare of bamboo woven craftsman: Starting from financial literacy and social capital, through to entrepreneurial spirit and business performance

Abstract

This study aims to investigate the impact of financial literacy and social capital on the welfare of bamboo woven artisans, as mediated by business performance and entrepreneurial spirit. The study included 209 bamboo weaving artisans from Tigawasa Village actively performing their operational duties. Through the application of the Slovin formula, a sample size of 140 artisans was acquired. We collected data through various methods, including observation, structured, and in-depth interviews. We utilized the SEM-PLS method for data analysis. The study’s findings indicate that the welfare of bamboo weavers is influenced by financial literacy, social capital, entrepreneurial spirit, and business performance. Interestingly, the study revealed that their entrepreneurial spirit did not influence the impact of financial literacy and social capital on the welfare of bamboo-woven artisans. In addition, the impact of financial literacy, social capital, and entrepreneurial spirit on the welfare of bamboo artisans is not mediated by business performance. Typically, a strong understanding of finances, a vast network of connections, and a drive for business success contribute to the prosperity of bamboo artisans.