Covid-19 financial distancing for MSMEs in Kenya

The Micro Small and Medium Enterprises (MSMEs) are important for every nation’s economic development. They provide employment and spur the growth of multiple sectors in the economy. The Covid-19 pandemic has negatively affected MSMEs' performance. The study seeks to demonstrate why COVID 19 may lead to the terminal quarantining of MSMEs. The study is anchored on decision usefulness and information asymmetry theories. The study adopted a descriptive research methodology and sampled MSMEs within Nairobi City County. The study used SPSS to analyze data in addition to Microsoft excel. The study found that over 70% of MSMEs had their sales decline by over 65% while 95% of them had their sales decline by over 30%. The study found that about 68% of MSMEs lacked financial management skills. The study recommends that with legal and institutional reforms, the government needs to develop a financing framework for MSMEs.

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ANALISIS STRATEGI PEMASARAN JAMUR TIRAM PUTIH (PLEUROTUS OSTREATUS) PADA USAHA DAGANG KENANGA DI KECAMATAN AMPENAN KOTA MATARAM

GANEC SWARA ◽

10.35327/gara.v13i2.105 ◽

2019 ◽

Vol 13 (2) ◽

pp. 375

Author(s):

IDA AYU KETUT MARINI ◽

IDA AYU NOPIARI ◽

IDA BAGUS EKA ARTIKA

Keyword(s):

Financial Management ◽

Swot Analysis ◽

Small And Medium Enterprises ◽

Oyster Mushroom ◽

Economic Entity ◽

Technological Advances ◽

Competitive Prices ◽

Oyster Mushrooms ◽

The Government ◽

Medium Enterprises

Micro, small, and medium enterprises (MSMEs) are one economic entity that continues to be encouraged by the government, because it can absorb labor, can reduce unemployment and also increase people's income This research is carried out at UD Kenanga, which produces and markets oyster mushrooms in the city of Mataram. This research is a descriptive study that aims to determine marketing strategies. This research is analyzed by SWOT analysis. The results show that UD Kenanga is strategically in quadrant II which shows that UD Kenanga is in a diversified strategy position. The conclusion of this study is the internal and external factors that influence the marketing strategy of white oyster mushrooms on UD. Kenanga consists of an affordable amount of capital, competent workforce, adequate product quality, strategic company location, competitive prices and able to produce their own seeds. Factors that become weaknesses are low production levels, not yet diversifying white oyster mushroom products, lack of a marketing system for white oyster mushroom products, limited production land, unprofessional financial management, no mushroom product promotion activities. Factors that become opportunities are broad market share, high purchasing power, government intervention, demand for oyster mushroom products is increasing, technological advances. Threatening factors are inter-company competition, changing seasons, consumer demands for quality mushroom products, rising fuel prices. Suggestions for companies, to diversify the company's products By diversifying products, so as to increase new customers or consumers. For the government, to pay more attention to the needs of micro businesses, especially to increase activities or technical training related to white oyster mushroom products.

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The importance of record keeping to the growth of small and medium scale enterprises (SMEs) in Zimbabwe

Corporate Ownership and Control ◽

10.22495/cocv12i4c7p5 ◽

2015 ◽

Vol 12 (4) ◽

pp. 744-754 ◽

Cited By ~ 1

Author(s):

Ongayi Vongai Wadesango

Keyword(s):

Financial Reporting ◽

Financial Management ◽

Survey Design ◽

Small And Medium Enterprises ◽

Management Skills ◽

Social Scientists ◽

Accounting Systems ◽

Record Keeping ◽

Medium Enterprises ◽

Descriptive Survey

This study sought to investigate the influence quality financial reporting systems have on the performance of small and medium enterprises. Descriptive survey design was employed. The sample size was 100 SMEs, selected using stratified random sampling. Data were collected using a questionnaire and an observation list. Data collected using questionnaire were analyzed using Statistical Package for the Social Scientists (SPSS). The study found an absence of formal accounting systems in many firms due to lack of financial and accounting knowledge among the owner‐managers. It is recommended that financial institutions and policy makers need to focus on educating such owner‐managers with necessary accounting and financial management skills.

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Characteristics and Problematics of UMKM in Ponorogo

Ekuilibrium Jurnal Ilmiah Bidang Ilmu Ekonomi ◽

10.24269/ekuilibrium.v15i1.2086 ◽

2020 ◽

Vol 15 (1) ◽

pp. 91

Author(s):

Dwiati Marsiwi ◽

Asis Riat Winanto ◽

Purwanto Purwanto

Keyword(s):

Financial Management ◽

Small And Medium Enterprises ◽

Accounting Standards ◽

For Profit ◽

Management Procedures ◽

Food And Beverage ◽

The Government ◽

Medium Businesses ◽

Medium Enterprises ◽

Role Of The Government

Small, Micro and Medium Enterprises (UMKM) currently have good developments, especially in the food and beverage sector. Even though the area of business is small, it does not need to be underestimated that this business also needs funds/finance. Financial management and reporting for micro, small and medium businesses are often considered difficult. On the other hand, the Indonesian Accountants Association has applied Accounting Standards which are easier to implement in small business actors, namely the Financial Accounting Standards for Micro, Small and Medium Enterprises (SAK-EMKM), effective in 2018. This research aims to explore further information about the existence and evaluation of financial management by UMKM. This study also aims to develop a design (model) of financial management procedures that are easily implemented by UMKM and is in accordance with SAK-EMKM. This research is qualitative research with an in-depth interview method. The informants chosen were food and beverage UMKM in Ponorogo Regency. Based on data obtained from 5 informants, then an analysis is carried out with rational interpretation. This study also obtained information from the Ponorogo Perdagkum related to how the role of the government plays in the management of UMKM.Food and beverage business people choose this business field because it is considered to have great potential for profit because food and beverages are their basic needs. i. Financial management at food and beverage UMKM is still very simple, in the form of simple records, not yet differentiating personal assets from the business, so that it is difficult to determine profits. This has the effect of not being able to compile the financial statements of food and beverage UMKM in the Ponorogo Regency according to SAK EMKM.

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Efektivitas Program Baznas Microfinance di Desa Bojong Rangkas Ciampea Bogor

El-Mal: Jurnal Kajian Ekonomi & Bisnis Islam ◽

10.47467/elmal.v4i2.612 ◽

2021 ◽

Vol 4 (2) ◽

pp. 192-202

Author(s):

Sigit Febriansyah ◽

Ikhwan Hamdani ◽

Gunawan Ikhtiono

Keyword(s):

Financial Management ◽

Small And Medium Enterprises ◽

Management Training ◽

Developed Countries ◽

Productive Activities ◽

Economic Development And Growth ◽

Qualitative Descriptive ◽

The Government ◽

Medium Enterprises ◽

Economic Improvement

Micro, small and medium enterprises (MSMEs) are proven to have played a role in economic development and growth, not only in developing countries but in developed countries as well. MSMEs are very important because this business sector absorbs more workers than large businesses. However, there is one problem faced by MSMEs in all countries, namely limited capital, which is mainly due to small or no access to banks or other financial institutions. In this case, zakat distributed to mustahiq will act as a supporter of their economic improvement if allocated to productive activities. The National Amil Zakat Agency (BAZNAS) is a zakat management institution established by the government that distributes zakat funds productively through a program, namely Baznas Microfinance. This study aims to determine how effective the Baznas Microfinance Desa program is in disbursing funds, to find out how effective the Baznas Microfinance Desa program is to improve MSME skills, and to find out what obstacles are faced by BMD Bojong Rangkas. This research is a qualitative research with a qualitative descriptive approach. Data collection techniques using interviews and documentation. Interviews were conducted with Baznas Microfinance in Bojong Rangkas Village. The results of the study show that Baznas Microfinance Desa provides loans only to zakat mustahik whose income is less than the minimum wage and the allocation is only for business. The maximum limit for applying for a loan is Rp. 2.500.000;- After getting a loan, there will also be a mentoring process carried out by BMD such as financial management training, product photos, marketing training, business development. Constraints faced by BMD Bojong Rangkas are the incompatibility of partners with the initial realization, delays in paying installments, and also many mustahik who do not know that in this program there is a business assistance process.

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LITERASI DAN MODEL MANAJEMEN KEUANGAN UMKM BERBASIS DIGITAL PADA UMKM-UMKM DI KABUPATEN BOALEMO PROVINSI GORONTALO

JOURNAL OF APPLIED MANAGERIAL ACCOUNTING ◽

10.30871/jama.v5i2.3486 ◽

2021 ◽

Vol 5 (2) ◽

pp. 45-55

Author(s):

Sukrianto Sukrianto Namrud

Keyword(s):

Financial Literacy ◽

Financial Management ◽

Small And Medium Enterprises ◽

Qualitative Approach ◽

Management Model ◽

Community Groups ◽

Financial Reports ◽

Descriptive Research ◽

Manual Recording ◽

Medium Enterprises

In 2015 to 2020 UMKM in Boalemo Regency have experienced ups and downs. This is a problem of decline, one of the main reasons is that UMKM have not been able to survive with their capital. The purpose of the research is to provide knowledge to community groups/micro and small and medium enterprises (UMKM) about literacy and digital-based UMKM financial management models, and to be able to increase the participation of community groups/UMKM in managing UMKM through the provision of knowledge about digital-based management. Descriptive research method with a qualitative approach. The results showed that UMKM in Boalemo District experienced problems in running their businesses, especially during the pandemic due to the lack of government attention in helping UMKM in Boalemo District. The average UMKM in Boalemo Regency in the use of financial literacy fully understands the development of digital-based UMKM, especially in increasing income, even their education level in managing good financial management and digitally still relies on manual recording. While the digital-based UMKM financial management model is not in accordance with the targets and objectives. This is evidenced by UMKM business actors who have not been able to make financial reports. UMKM in Boalemo Regency have not been able to use information technology and social media, especially in utilizing digital based financial management designs. This is because UMKM only rely on manual recording. Keywords: Literacy, Model, Financial Management and UMKM

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Digital Transformation of Self Assessment System on Final Income Tax in Small Micro Business and Medium at Pratama Tax Office of West Bekasi

Ilomata International Journal of Tax and Accounting ◽

10.52728/ijtc.v2i3.285 ◽

2021 ◽

Vol 2 (3) ◽

pp. 209-221

Author(s):

Dwikora Harjo ◽

Novianita Rulandari ◽

Aprilia Alfani ◽

Raveedhan Syachlin

Keyword(s):

Income Tax ◽

Government Regulation ◽

Small And Medium Enterprises ◽

Assessment System ◽

The Self ◽

Self Assessment ◽

Tax Rate ◽

Descriptive Research ◽

The Government ◽

Medium Enterprises

The phenomenon in this study is related to the self-assessment system for taxpayers in the context of the Government Regulation Number 23 of 2018 implementation, where many Micro, Small, and Medium Enterprises (MSMEs) do not understand tax administration and consider taxation obligations to be complicated. The purpose of this study is to find out and analyze the self-assessment system for final tax income on MSMEs at the Pratama Tax Office of West Bekasi in 2018-2020 along with the obstacles and efforts made by the tax office regarding the self-assessment system. This research is descriptive research with a qualitative approach. Data analysis was carried out using qualitative methods. The results of this study indicate that the implementation of Government Regulation Number 23 of 2018 regarding the self-assessment system has not fully run as expected. In terms of registration and reporting, taxpayers have complied with these regulations, but in calculating and paying their taxes they have not fully complied with the rules. The obstacles include MSMEs who are still unfamiliar with taxes and do not understand IT, regulators who are still having trouble supervising the taxation activities of taxpayers, and the lack of tax dissemination and counseling. As a result, the MSME tax contribution has decreased during 3 years due to the decline in the MSME Tax rate. The average contribution of MSME tax revenue at the Primary Tax Office of West Bekasi is 8.77% of final income tax receipts.

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STUDI DAMPAK PEMBERDAYAAN SISTEM KEUANGAN SYARIAH AL-IJARAH BAGI PELAKU UMKM

El Dinar ◽

10.18860/ed.v8i2.8856 ◽

2020 ◽

Vol 8 (2) ◽

pp. 115-129

Author(s):

Umrotul Khasanah ◽

Meldona Meldona ◽

Muhammad Djakfar

Keyword(s):

Data Analysis ◽

Small And Medium Enterprises ◽

Financial System ◽

Management Skills ◽

Descriptive Research ◽

Qualitative Descriptive ◽

Main Instrument ◽

Medium Enterprises ◽

Gradual Approach ◽

The Impact

Al-Ijarah's Islamic Financial System has produced strategic results. The Islamic financial system to differentiate from conventional financial systems based on interest (interest), the Islamic financial instrument is the al-ijarah (lease) system. This study aims to reveal the impact of Micro, Small, and Medium Enterprises (MSME) business actors on the Islamic financial system using the al-ijarah instrument; reveal the effect of business land managers leased to MSMEs regarding the Islamic financial system using the al-ijarah instrument. This research puts forward a qualitative descriptive research method with case studies of culinary business actors and providers of land for rent in Malang Raya, East Java. Data analysis uses a gradual approach, namely: analyzing important statements, formulating, describing, reducing data towards findings, propositions, and conclusions. The researcher, as the main instrument, performs data analysis simultaneously. Researchers prioritize observation and interviews. This research found two things: (1) Al-Ijarah business actors successfully overcame obstacles and obstacles. However, they initially applied their abilities as they were, but they could use their management skills quite well after developing. (2) The benefits for entrepreneurs who provide business / al-ijarah land leases are that they are successful in delivering strategic places, easy to reach, availability of parking spaces, and security aspects.

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How are small and medium enterprises in Malaysia’s furniture industry coping with COVID-19 pandemic? Early evidences from a survey and recommendations for policymakers

BioResources ◽

10.15376/biores.15.3.5951-5964 ◽

2020 ◽

Vol 15 (3) ◽

pp. 5951-5964

Author(s):

Jegatheswaran Ratnasingam ◽

Albert Khoo ◽

Natkuncaran Jegathesan ◽

Lum Chee Wei ◽

Hazirah Ab Latib ◽

...

Keyword(s):

Supply Chain ◽

Financial Management ◽

Small And Medium Enterprises ◽

Movement Control ◽

Financial Strain ◽

Furniture Industry ◽

Supply Chain Disruptions ◽

The Government ◽

Medium Enterprises ◽

The Impact

In the wake of the global COVID-19 pandemic and the subsequent movement control order (MCO) in Malaysia, an on-line survey was undertaken involving 748 small and medium enterprises (SMEs) in the furniture industry. The main objective was to examine the impact of the pandemic and the subsequent MCO on the various business aspects of the SMEs as well as to make recommendations to the government on supportive measures for the SMEs. The survey found that although all aspects of the business were impacted, the two major concerns of the SMEs during this crisis were the financial management and the supply chain disruptions. Inevitably, it was found that most of the SMEs were operating well below capacity, which was a huge financial strain on their business viability. It was recommended that the government provide measures to help the SMEs manage their cash-flow and ease the restrictions to facilitate supply-chain commencement that is crucial to their business. The survey also revealed that most SMEs acknowledged the importance of automation and the adoption of technologies. Respondents regarded the shift towards Industry 4.0 was inevitable as a means increase their resilience when facing future uncertainties.

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Financial management practices in successful Small and Medium Enterprises (SMEs)

The Southern African Journal of Entrepreneurship and Small Business Management ◽

10.4102/sajesbm.v7i1.8 ◽

2015 ◽

Vol 7 (1) ◽

pp. 88 ◽

Cited By ~ 5

Author(s):

Hendrik Petrus Wolmarans ◽

Quentin Meintjes

Keyword(s):

South African ◽

Financial Management ◽

Management Practices ◽

Small And Medium Enterprises ◽

Balance Sheet ◽

Management Skills ◽

Body Of Knowledge ◽

Frequency Of Use ◽

Medium Enterprises ◽

Financial Practices

Although the success of small, medium and micro enterprises (SMEs) is extremely important for the South African economy, their failure rate is amongst the highest in the world; some researchers estimate as high as 90 percent. Research has shown that the lack of financial management skills and application of financial management practices are some of the biggest factors contributing to SME failure. However, it is not clear from the literature which of these skills and practices are more important than others. This study aims to fill this gap by determining which financial management skills are relevant for successful SMEs. A survey was done on a sample of owner-managers of successful SMEs who had been asked, firstly, whether they performed different financial management practices and, secondly, how frequently they performed these in their companies. The study concludes that practices regarding working capital as well as profitability are much more relevant than those regarding a balance sheet or strategic finance. Similarly, financial practices related to cash flow and decision making are more relevant than those related to planning or analysing. It may be true, due to the high risk and volatile environment of SMEs, as well as the challenges that are often underestimated, that financial practices which academics regard as important are not always implemented by these companies. This study contributes to the existing body of knowledge as it determines the relative relevance and frequency of use of financial management practices by successful SMEs.KEY WORDS Small and medium enterprises, Financial management practices, Successful SMEs, Entrepreneurship education

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Financial Management for UMKM at the RW Level Discussion Forum in Tangerang City

ABDIMAS TALENTA: Jurnal Pengabdian Kepada Masyarakat ◽

10.32734/abdimastalenta.v6i1.5337 ◽

2021 ◽

Vol 6 (1) ◽

pp. 86-90

Author(s):

Afaf Boru Bulan Namora ◽

Djenni Sasmita

Keyword(s):

Financial Reporting ◽

Financial Management ◽

Small And Medium Enterprises ◽

Management Training ◽

Discussion Forum ◽

Service Activity ◽

The Government ◽

Medium Enterprises ◽

The City ◽

And Training

The main objective of community service is to carry out financial management for MSMEs at RW level in Tangerang City. Micro, Small, and Medium Enterprises (MSMEs) are micro, small and medium enterprises which are one of the business sectors that still survived during the Indonesian economic crisis in 1998. These businesses can survive, because they do not depend on import trade or expect funding from banks. This financial management is carried out in a discussion forum at the RW level in the city of Tangerang to improve the welfare of the community in managing finances for micro businesses independently. The government realizes that financial management is one of the places for the community to empower and develop MSMEs. This service activity is carried out to manage finances in detail and properly managed at the RW level, Tangerang city. This implementation method consists of seminars and training. The results of the seminar and financial management training at the RW level discussion forum in the city of Tangerang went well because the participants received knowledge that was useful for training for the progress of their business. Based on the results of research carried out conducting umkm activities can improve detailed and correct financial management even though many people do not understand financial reporting in accounting, but because of the holding of seminars and training it has produced good results for the people of Tangerang city, thereby reducing unemployment.

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