Financial Governance Model For Smes To Improve The Performance Of Surabaya SME Centers

Martha Suhardiyah; dicky Surya Putra Pradana; Soffia  Pudji Estiasih; Diva  Isabella; Nabilah Alfin Nisa

doi:10.63922/ijebir.v5i03.3811

Martha Suhardiyah Universitas PGRI Adibuana Surabaya
dicky Surya Putra Pradana Universitas PGRI Adibuana Surabaya
Soffia Pudji Estiasih Universitas PGRI Adibuana Surabaya
Diva Isabella Universitas PGRI Adibuana Surabaya
Nabilah Alfin Nisa Universitas PGRI Adibuana Surabaya

DOI: https://doi.org/10.63922/ijebir.v5i03.3811

Keywords: Financial Governance Model, MSMEs Order To Improve Performance.

Abstract

Micro, small, and medium-sized enterprises (MSMEs) are a type of business that has demonstrated its ability to contribute significantly to and play a vital role in the Indonesian economy, even forming its backbone. They are characterized by their resilience, dynamism, and efficiency, and are capable of stimulating economic development. However, several factors can lead to failure, including a lack of managerial and operational skills, limited capital, and an insufficient understanding of the challenges related to business development and sustainability. Financial governance encompasses the processes and structures implemented to collect, manage, monitor, and control a company's financial information in order to achieve efficiency and transparency objectives, in accordance with applicable regulations. This process includes recording and tracking transactions, performance management, data control and compliance, as well as communicating financial information to internal and external stakeholders. This study focuses on the financial governance model of MSMEs, a crucial element for managing financial information, particularly within the context of business development in MSME clusters. The study employs a quantitative descriptive approach. The results propose a financial governance model for MSMEs aimed at improving their performance

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