The Influence of Financial Management, Business Capital, Business Income, Product Innovation and Marketing Strategy on the Success of Micro Businesses in the Culinary Sector in Bima City

Pengaruh Pengelolan Keuangan, Modal Usaha, Pendapatan Usaha, Inovasi Produk dan strategi pemasaran Terhadap Keberhasilan Usaha Usaha Mikro sector Kuliner di Kota Bima

Abstract

Culinary micro-enterprises play a vital role in the local economy, including in Bima City; however, their success is influenced by various factors, and findings across different regions remain inconsistent. This study aims to analyze the impact of financial management, business capital, business revenue, product innovation, and marketing strategies on the success of culinary micro-enterprises in Bima City, both individually and simultaneously. A quantitative approach was employed, utilizing a survey design targeting culinary micro-entrepreneurs in Bima City; data were collected via Likert-scale questionnaires and analyzed using multiple linear regression with SPSS software. The results indicate that, collectively, the five variables have a significant influence on business success. Individually, financial management, business capital, and business revenue show a significant positive effect, whereas product innovation and marketing strategies do not. The R² value of 0.495 indicates that 49.5% of the variation in business success is explained by the study's variables.