Research On The Impact Of Inclusive Financial Development On Rural Family Entrepreneurial Decision-making

"Mass entrepreneurship and innovation" has been one of China’s important strategies ever since it was put forward.It is a key measure to ensure the steady and sound development of the national economy.Under the background of comprehensively promoting rural revitalization,rural family entrepreneurship is expected to be a breakthrough.In recent years,the country has issued a series of documents to support and encourage rural family entrepreneurship,which has become the focus of the national work.The traditional agricultural and rural economy is inefficient in driving resource factors.Rural household entrepreneurship is conducive to narrowing the gap between urban and rural areas,accelerating the pace of rural revitalization and promoting common prosperity.However,there is a big gap between the development status of rural areas and urban areas,and various financial exclusion phenomena are more obvious in rural areas,so it is difficult to realize the reasonable financial needs of rural residents.Inclusive finance integrates modern technology to provide financial products that meet their needs,provide effective financial services,alleviate the problem of financial exclusion faced by rural residents and other vulnerable groups,and optimize the efficiency of financial services.The development of inclusive finance can ease the credit constraints of rural entrepreneurial families,improve their entrepreneurial willingness and enthusiasm,so as to promote the development of rural economy and help agricultural and rural modernization.Therefore,it is very important to analyze the influence of inclusive finance development on rural family entrepreneurship in this paper,which is conducive to providing feasible countermeasures and suggestions for promoting rural family entrepreneurship and developing inclusive finance.On the basis of existing research and literature,this paper explains the development status of inclusive finance,influencing factors of rural family entrepreneurship,and the influence relationship of inclusive finance development on rural family entrepreneurship.Based on relevant theories,it makes assumptions about the influence effect,heterogeneity and influence mechanism of inclusive finance on rural family entrepreneurship decision-making.Secondly,based on this,the analysis framework of this paper is constructed,and the relevant data of inclusive finance and rural family entrepreneurial decision-making are collected and the descriptive analysis is made.Finally,according to the theoretical analysis framework of this paper,the survey data of Chinese household finance(CHFS2019)is sorted out,the binary Probit model is constructed,and the influence effect,influence difference and influence mechanism of the development of inclusive finance on the entrepreneurial decision-making of rural families are analyzed closely around the main content of this paper.According to the theoretical and empirical tests,the conclusions of this paper are as follows:(1)The development of inclusive finance promotes the entrepreneurship of rural families,and the relationship between them has a certain robustness.In terms of personal characteristics,age and education level have an "inverted U-shaped" effect on the entrepreneurial decision-making of rural households.Rural households’ risk preference plays a significant role in the entrepreneurial decision-making,and rural households willing to undertake high risk are more inclined to choose entrepreneurship.Among the family characteristics,rural families with shops have stronger entrepreneurial intention,and the higher the level of family wealth,the greater the possibility of entrepreneurship.In the characteristics of community,rural family socialization and informal credit such as private lending can increase the possibility of entrepreneurship to some extent.(2)The impact of inclusive finance development on rural household entrepreneurship is heterogeneous.The results show that credit availability has a more significant effect on rural households with lower household wealth.The improvement of insurance coverage has a more obvious promoting effect on the entrepreneurial choice of risk-averse rural families;The improvement of the use of electronic payment has a more significant effect on the entrepreneurial behavior of rural families with low educational background.(3)Information acquisition has an intermediary mechanism effect in the influence of inclusive finance development on rural household entrepreneurship.In other words,the development of inclusive finance promotes the information access of rural families,and the improvement of information access ability can promote the entrepreneurial decision-making of rural families.According to the research conclusion,this paper puts forward the following suggestions:(1)strengthen the top-level design of inclusive finance and improve the supporting facilities in rural areas;(2)Increase subsidies to financial institutions to stimulate the vitality of financial institutions in rural areas;(3)Optimize and improve inclusive finance laws and regulations to reduce the risk of rural households starting businesses;(4)broaden the information access channels of farmers and improve their comprehensive quality;(5)Use digital information technology to unleash entrepreneurial vitality in rural areas.