Financial Management Strategies Driving Revenue Growth in Local Culinary Tourism
DOI:
https://doi.org/10.55606/tourecon.v3i1.63Keywords:
Cost Control, Financial Management, Financial Records, Local Culinary Tourism, MSMEsAbstract
Local culinary tourism micro, small, and medium enterprises (MSMEs) play a significant role in the regional economy, yet many entrepreneurs still face financial management challenges that impact income instability. This study aims to describe the financial management strategies implemented by local culinary tourism entrepreneurs and identify the main obstacles that hinder revenue growth. The study used a descriptive qualitative approach with data collection through semi-structured interviews, observations of business activities, and simple documentation (cash books/receipts/sales recaps) of culinary MSMEs in the research locations. The data were analyzed thematically through a process of reduction, coding, categorization, and drawing conclusions. The results showed that the most dominant problems were inconsistent transaction recording and the lack of fragmentation of personal and business finances, making it difficult for entrepreneurs to monitor cash flow and calculate profits. In addition, budgeting was not yet based on sales patterns, cost control (especially COGS and material waste) was still weak, and working capital and inventory management were not measurable, leading to waste and cash flow pressure. Access to formal financing also tends to be low due to limited literacy-inclusion and the lack of simple financial reports. The study recommends strengthening the foundations of simple financial management (daily cash books, periodic recaps, budgets, COGS control, and working capital management) and using recording technology to strengthen data-driven decisions to support revenue growth.
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