Exploring Financial Management Practices and Business Sustainability Strategies among MSMEs

Rintan Citrawati; Mochammad Arfani; Anita Asnawi; Damajanti Sri Lestari

doi:10.55927/fjmr.v5i1.654

Authors

Rintan Citrawati Universitas Dr Soetomo
Mochammad Arfani Universitas Dr Soetomo
Anita Asnawi Universitas Dr Soetomo
Damajanti Sri Lestari Universitas Dr Soetomo

DOI:

https://doi.org/10.55927/fjmr.v5i1.654

Keywords:

Financial Management, Business Sustainability, MSME, Strategic Planning

Abstract

This study examines the relationship between financial management practices and business sustainability among Micro, Small, and Medium Enterprises (MSMEs) using a qualitative descriptive approach. Data obtained through interviews, observations, and documentation were analyzed using the Miles, Huberman, and Saldaña model. The findings show that the effectiveness of financial planning, bookkeeping, reporting, and financial control varies depending on the financial literacy of business owners. Business sustainability is shaped by the ability to compile and update business plans, conduct competitor analysis, explore new business opportunities, and take calculated risks. The study concludes that robust financial management enhances MSMEs’ resilience and strategic decision-making, while sustainability demands encourage continuous improvement in financial governance.

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