Sulton Sholehuddin, Agung Winarno, Heri Pratikto, Imam Mukhlis, Budi Eko Soetjipto
The purpose of this study is to assess how the financial performance of halal MSMEs is impacted by Islamic branding, religiosity, Islamic financial literacy, and an entrepreneurial mindset. Using quantitative methods and an explanatory research approach, this study the causal links among these variables. Islamic branding and Islamic financial literacy were found to have a significant and positive influence on the financial performance of halal MSMEs, whereas the moderating effects of entrepreneurship orientation and religiosity were not significant. Data collection was conducted via a validated and reliable questionnaire that targeted a sample of 224 halal MSMEs located in Malang city and Regency. The analysis, performed through the SEM-PLS technique, revealed that Islamic branding and Islamic financial literacy are crucial factors in enhancing the financial performance of halal MSMEs, whereas other variables exhibited a lesser or negligible impact. Furthermore, Islamic financial literacy serves as a mediator in the link between Islamic branding and financial performance, whereas entrepreneurship orientation does not significantly influence the link between religiosity and financial performance. The inference of this research makes a valuable contribution to the existing body of literature and offers practical recommendations for halal MSME entrepreneurs to increase their business performance by adopting effective branding strategies, managing finances in accordance with various principles, and fostering an entrepreneurial orientation. Additionally, this research aims to aid policymakers in developing supportive policies for the growth of halal MSMEs in Indonesia. The limitations of this study include the small sample size and the use of survey methods; thus, further research with more comprehensive methods and variables is needed. Copyright (c) 2026 The Authors. This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.
Faculty of Economics and Business, Universitas Negeri Malang, Malang, Indonesia; Faculty of Economics and Business, Universitas Islam Malang, Malang, Indonesia
