From financial attitudes to SME financial performance: the roles of financial behaviour and financial inclusion in mogadishu, Somalia

This study examines how financial attitude, financial behaviour, and financial inclusion are associated with the financial performance of small and medium-sized enterprises (SMEs) in Mogadishu, Somalia. Questionnaire data from 215 SME owners, managers, and financial decision-makers selected through non-probability sampling were analysed using partial least squares structural equation modelling (PLS-SEM). Financial attitude represents psychological orientation, financial behaviour reflects financial management practices, and financial inclusion concerns access to financial services. Financial behaviour (β = 0.445, p < 0.001) and financial inclusion (β = 0.379, p < 0.001) were positively associated with performance. Financial attitude had no significant direct association (β = 0.045, p = 0.308), but its indirect association through financial behaviour was significant (β = 0.330, p < 0.001). The model explained 64.2% of performance variance (R² = 0.642) and demonstrated predictive relevance (Q² = 0.532). The findings highlight the relevance of financial management practices and access to financial services for SME performance, informing discussions of sustainable enterprise development under SDGs 8 and 9 without directly measuring SDG achievement. The cross-sectional, self-reported design and non-probability sampling limit generalisability and causal interpretation.