Maluku – PT Jaminan Kredit Indonesia (Jamkrindo) continues to promote financial literacy for micro, small, and medium enterprises (UMKM) in eastern Indonesia. One of the initiatives was a workshop held in Maluku Province, themed "Managing Financial Statements for UMKM & Google Business Profile", which took place at Barugae, PLUT KUMKM Maluku Building on Thursday, October 12, 2023.
The event was attended by Nasir Kilkoda, Head of the Cooperatives and Small and Medium Enterprises Office of Maluku Province, Astri G Mainake, Head of PLUT Maluku Province, Afriaty Watiheluw, Head of Cooperative and SME Services Maluku Province, and Roy Baskoro, CEO of UMKM Naik Kelas (LUNAS). About 120 UMKM participants attended the coaching clinic, where Jamkrindo presented the importance of building brand awareness amidst the fierce competition in the digital age.
Anggit Murdiwibowo, Deputy Head of Institutional Relations Division II at Jamkrindo, said, "With this event, we hope that more UMKM can independently prepare their financial statements."
The aim of the event was to enhance financial literacy among business owners in Ambon City through workshops on financial statement management, the introduction of Jamkrindo’s guarantees and UMKM Layak, and improving digital marketing literacy through Google Business Profile materials.
Anggit emphasized that understanding financial management is crucial for UMKM owners. Business owners must be able to create their own financial reports. "This time, Jamkrindo shared three main financial statements for UMKM: First, the balance sheet, second, the income statement, and third, the cash flow statement. These three must serve as the foundation for running their business," said Anggit.
In the workshop, it was explained that the balance sheet presents the financial condition of a company, outlining assets, liabilities, and equity at a specific point in time. This allows a company or business entity to develop strategic policies for its operations.
The second statement, the income statement, summarizes total revenue and expenses. It helps determine whether the entity has made a profit or loss over a given period, typically by month, quarter, or year.
Lastly, the cash flow statement serves as a verification tool to address questions regarding the use of the company’s cash. It helps connect the income statement and balance sheet.
According to Anggit, these three financial statements are interrelated and cannot be separated. UMKM owners are expected to update these statements independently.
Given the increasing digital environment, Jamkrindo also encourages UMKM owners to digitalize their financial reporting. Digital transaction recording will simplify financial management for UMKM, even without knowledge of basic accounting principles.
Darmin, an UMKM consultant, who attended the workshop, shared the challenges of UMKM development in Maluku Province, particularly in Ambon City. "Most businesses in Maluku still create financial reports manually or only record transactions. With this workshop, we’ve learned how to create financial reports, even digitally. Therefore, UMKM in Maluku, especially in Ambon, really appreciates this training from Jamkrindo," said Darmin.
Anitha S. Sahetapy, a participant and owner of Torneso UMKM, also expressed gratitude to the Cooperatives Office of Maluku Province for facilitating this workshop with Jamkrindo. "We’ve gained new knowledge on how to manage our business finances with proper cashbook records and how to measure our business income," she said.
This workshop is part of Jamkrindo’s Management Consultation and UMKM Empowerment Program under the UMKM Layak initiative in Eastern Indonesia. Similar events were previously held in Kupang, Palu, and Parepare.
About Jamkrindo
As a credit guarantee company under the Indonesia Financial Group (IFG), Jamkrindo provides various products, both program-based and non-program-based guarantees. Jamkrindo’s program guarantees include People’s Business Credit (KUR) and working capital credit guarantees (KMK) in the National Economic Recovery Program (PEN). For non-program guarantees, Jamkrindo offers general credit guarantees, micro-credit guarantees, construction and procurement credit guarantees, goods distribution guarantees, surety bonds, bank counter guarantees, customs bonds, and supply chain financing (invoice financing).
Corporate Secretary of PT Jamkrindo
Aribowo
Email: [email protected]