FEB UB Service Team Trains Financial Management and Digital Marketing for SME in Malang Regency

The Faculty of Economics and Business (FEB) Service Team held training for 10 Small and Medium Enterprises (SME) in Malang Regency. The training focused on increasing the capacity of Financial Management and Digital Marketing.

The team consists of Ainur Rofiq, Ph.D. as chairman with members Rila Anggraeni, MM., and two students, Alif Aulia Reza and Faishal Rayya Rabbani.

According to Rila, the majority of SMEs face a classic problem, namely a lack of financial management skills and literacy. The lack of understanding of SMEs has an impact on the non-measurable financial performance.

“SMEs assume that as long as there is money, the business is considered successful. Despite the fact, oftentimes the profitability of SMEs is in a negative position,” she said.

Furthermore, Ainur Rofiq added, that SMEs often experience difficulties in making financial planning. The SME budget is made based on estimates only, without clear data. This has an impact on the low level of operational efficiency of SMEs.

In addition to financial management, the service team also trains SMEs to use e-commerce and Instagram business for product marketing. Alif conveyed, current marketing activities use a traditional approach, so that market reach and consumer awareness tends to be low. Even though in the era of technological disruption in the current business model, digital marketing is a necessity for SMEs.[rila/siti rahma/ Humas UB/ Trans. Iir]