The Impact Of Digital Financial Inclusion On Family Entrepreneurship

Entrepreneurship is one of the important ways to promote social and economic development and improve people’s livelihood.Entrepreneurial activities are affected by many factors such as social and economic environment,personal endowments,etc.Among them,sufficient financial capital is the most important basic guarantee condition.However,due to information asymmetry and other issues,family entrepreneurship in my country faces realistic financial constraints,which significantly affects the level and scale of entrepreneurship in my country.On the basis of traditional inclusive finance and relying on big data technology,digital inclusive finance effectively makes up for the shortcomings of traditional financial models and opens up the "last mile" of my country’s financial services.It has played a major role in helping to alleviate financing problems in entrepreneurship,promoting the rational distribution of regional financial resources,and serving the real economy.Based on the 2018 China Family Tracking Survey(CFPS)and the 2017 China Digital Financial Inclusion Index,this paper uses the Probit model to conduct research and obtains three main conclusions.First,digital inclusive finance combines digital technology and inclusive finance to ease the constraints of traditional finance on entrepreneurial activities,thereby significantly increasing the probability of starting a family business.Secondly,regarding the impact mechanism of digital financial inclusion in improving the probability of family entrepreneurship,the study found that digital financial inclusion can provide necessary funds for entrepreneurship by alleviating family credit constraints.On the other hand,it can also help families obtain entrepreneurial information and knowledge through multiple channels by improving the level of social capital of the family.In addition,digital financial inclusion promotes the transfer of land,especially in rural areas,so that more idle rural labor can carry out entrepreneurship.Finally,after differentiating the effects of different dimensions,breadth of coverage was found to have the greatest impact on entrepreneurial activity;In addition,by grouping regressions on regions and human capital,it is found that in less developed regions and families with lower education levels,digital financial inclusion has a stronger positive effect on family entrepreneurship,reflecting stronger inclusiveness.This paper conducts a detailed analysis of the impact of digital financial inclusion on family entrepreneurship.Based on the research conclusions,this paper further puts forward relevant policy recommendations,including strengthening the use of inclusive financial services,strengthening financial education,optimizing the rational allocation of credit resources,and reducing areas financial development differences,in order to stimulate entrepreneurship and develop a high-quality economy.