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Journal : Journal of Social Science Utilizing Technology

Financial Management of MSMEs in Cirebon Regency: A Qualitative Approach in Improving Performance and Sustainability Destiana, Rina; Komara, Acep
Journal of Social Science Utilizing Technology Vol. 2 No. 4 (2024)
Publisher : Yayasan Pendidikan Islam Daarut Thufulah

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.70177/jssut.v2i4.1430

Abstract

ABSTRACT Background. Effective financial management is a crucial aspect for Micro, Small, and Medium Enterprises (MSMEs) in Cirebon Regency in achieving optimal performance and business sustainability. With the existence of MSMEs that contribute significantly to the regional economy, a deep understanding of financial management is very important. Purpose. This research aims to explore the financial management practices of MSMEs through a qualitative approach, analyze the challenges faced, and identify strategies that can be applied to improve financial management. Method. This study applies a qualitative approach to explore the financial management practices of MSMEs in Cirebon Regency. Participants consisted of 20 MSME owners who manage businesses in the food and beverage, handicraft, and trade sectors, with a minimum of two years of experience. Data were collected through in-depth interviews and observations. The interviews use a semi-structured guide to obtain information about financial management practices, challenges faced, and strategies implemented, conducted directly at the business site to provide better context. Observations are carried out to understand daily financial management practices, including recording transactions and interactions with customers. The data obtained was analyzed using a thematic analysis approach. The analysis process begins with the transcription of interviews and recording of observations, followed by the identification of the main themes that emerge and their grouping into relevant categories. The results of the analysis are expected to provide in-depth insights into the financial management of MSMEs in Cirebon Regency. Results. The study show that many MSMEs in Cirebon Regency experience difficulties in financial management due to low financial literacy, lack of good financial planning, and lack of access to support from financial institutions. Conclusion. Effective financial management is very important for the performance and sustainability of MSMEs in Cirebon Regency. This article recommends the need for intensive education and training programs for MSMEs to improve their financial management skills.
Co-Authors Abdurohim Abdurohim Acep Komara Ade Fitriyatun Hasanah Aeni, Tia Inayatul Agus Santoso Aisyah Aisyah Apri Dwi Astuti Apri Dwi Astuti Arief Yanto Rukmana Arnes Yuli Vandika Budi Srisulistiowati, Dwi Budi Sulistiyo Nugroho Cyntia Aurely Dedet Erawati Devi Susiati Devid Ruung Pontoan Dhety Chusumastuti Diawati, Prety Dikarsa, Asep Anggi Dinny Nurhayati Fadillah Dwi Budi Srisulistiowati Dwi Dersmi Selan Eko Sudarmanto Endang Herawan Endang Supriatna Euis Nurawaliyah Fitria Dewi Gilaa, Thitus Haeranah, Haeranah Herawati Herawati Herni Herni Ida Ayu Putri Suprapti Indah Fauziah Indah Nuraini, Indah Iwan Harsono Jan Horas Veryady Purba Judijanto, Loso Kamalah Saadah Komarudin Komarudin Listanti, Ruri Virginia Loso Judijanto M. Ali Mauludin M. Ali Mauludin Maimon Sumo Mardi Mardi Maula, Nida Syarofatul Misdi Mislan Sihite, Mislan Monica, Tantri Muhammad A'ffar Muhammad Amsal Nasution Muhlis Murini, Murini Napu, Iin Angraen Navanti, Dovina Neliana, Tri Nugroho, Budi Sulistiyo Nurani Hartini Nurlia Nurlia Otto Fajarianto Ramdhan Kurniawan Rawi Rawi Rawi Rawi, Rawi Rena, Selsa Rimayanti Rimayanti Rizani , Ahmad Rosi, Sofia Safitri, Camelia Selan, Dwi Dersmi Sidrotun Naim Siti Nur Hadiyati Sri Rejeki Sri Rejeki Sudarmanto, Eko Sulistyowati, Nur Wahyuning Suprapti, Ida Ayu Putri Supriatna, Endang Suroso, Adi Teddy Oswari Thitus Gilaa Tiara Muthiarsih Titin Endrawati Tri Neliana Utami, Eva Yuniarti Weraman, Pius Wijayanti, Indah Oktari Yudi Aryanto Yulianti, Sani Yuliyanti, Dini