Sustainable Development Of MSMEs Of Nogosari Knitting Center Through Digital Financial Literacy In Wukirsari Village, Yogyakarta, Indonesia

Abstract

The strategic role of Micro, Small and Medium Enterprises (MSMEs) is to support economic growth, but many MSMEs entrepreneurs face challenges in managing their finances. MSMEs are still conventional and various weaknesses of MSMEs include the inability to find capital for the business, lack of knowledge about access to donations, and simple transaction recording. Lack of financial literacy knowledge will have an impact on business sustainability. On the other hand, MSMEs have a role to play in achieving the SDGs. Low financial literacy skills can also hinder business growth and sustainability of MSMEs. This Community Service and Empowerment Program aims to provide knowledge about financial literacy to MSMEs entrepreneurs at the Nogosari Knitting Center in Wukirsari Village, Bantul Regency, Jogjakarta. This international service activity involved 25 knitting MSMEs entrepreneurs who have been producing knitting for many years. The method of implementing service activities is to provide financial literacy assistance and training. Socialization of financial literacy to MSMEs entrepreneurs in an interactive manner and providing direct assistance in making business funding strategies and training in compiling simple financial reports and good financial planning and management. Some of the materials presented include financial management knowledge, access to capital through financial institutions, and recording financial transactions through simple accounting reporting. The result of this service activity is an increase in knowledge from MSMEs entrepreneurs both the Company's funding strategy, financial management knowledge and financial reporting. MSMEs entrepreneurs also gain insight into the various financial risks faced and look for solutions to the problems that occur. Through the financial literacy assistance program, it is hoped that MSMEs entrepreneurs can improve the performance of MSMEs. This program provides opportunities for MSMEs to participate in the achievement of the Sustainable Development Goals (SDGs), namely creating jobs and increasing economic growth globally.