Strengthening Financial Governance and Business Management of MSMEs to Increase Competitiveness in Medan City
DOI:
https://doi.org/10.55927/jpp.v5i2.9Keywords:
MSMEs, Financial Governance, Business Management, Competitiveness, Medan CityAbstract
This community service program aims to strengthen financial governance and business management of Micro, Small, and Medium Enterprises (MSMEs) in Medan City to enhance competitiveness in an increasingly competitive market. The main problems identified include weak financial recording systems, lack of structured business plans, minimal utilization of digital technology, and limited market information access. The program involved 35 MSME actors from various sectors in Medan City, selected through rigorous screening based on their business development commitment. Implementation methods include practice-based financial governance training, business management and marketing strategy workshops, intensive mentoring for 12 weeks, and the establishment of a business networking ecosystem. Evaluation results showed significant improvements: the ability to prepare financial statements increased from 14% to 86%, separation of personal and business finances increased from 29% to 93%, and the use of digital platforms for marketing increased from 22% to 77%. The program also successfully established the Medan Empowered MSME Community as a sustainable learning and business collaboration ecosystem, providing a real impact on improving MSME competitiveness.
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