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Exploring Financial Management Practices and Business Sustainability Strategies among MSMEs

Year: 2026

Type: article

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.

Source: Formosa Journal of Multidisciplinary Research

DOI: 10.55927/fjmr.v5i1.654

Authors: Rintan Citrawati, Mochammad Arfani, Anita Asnawi, Damajanti Sri Lestari

Institution: Universitas Dr. Soetomo

Language: English

Topic: Financial Literacy and Behavior

Subfield: Accounting

Field: Business, Management and Accounting

Domain: Social Sciences

SDG: Decent work and economic growth

Open Access status: diamond

OpenAlex ID: W7127039072

FWCI: 29.77

Cites: 15

Cited by: 5

Related to: 10