Enhancing Culinary MSME Sustainability: The Role of an Integrated Model of Financial Self-Efficacy, Technology Adoption, and Community Based Mentoring in Indonesia's Digital Era

Enhancing Culinary MSME Sustainability: The Role of an Integrated Model of Financial Self-Efficacy, Technology Adoption, and Community Based Mentoring in Indonesia's Digital Era | Research Square window.SnipcartSettings = { analytics: { enabled: false } }; (function() { var accessVector = localStorage.getItem('access_vector') || ''; window.dataLayer = window.dataLayer || []; if (accessVector) { window.dataLayer.push({ user: { profile: { profileInfo: { snid: accessVector } } } }); } })(); (function(w,d,s,l,i){w[l]=w[l]||[];w[l].push({'gtm.start':new Date().getTime(),event:'gtm.js'});var f=d.getElementsByTagName(s)[0],j=d.createElement(s),dl=l!='dataLayer'?'&l='+l:'';j.async=true;j.src='https://www.googletagmanager.com/gtm.js?id='+i+dl;f.parentNode.insertBefore(j,f);})(window,document,'script','dataLayer','GTM-K279D39R'); Browse Preprints In Review Journals COVID-19 Preprints AJE Video Bytes Research Tools Research Promotion AJE Professional Editing AJE Rubriq About Preprint Platform In Review Editorial Policies Our Team Advisory Board Help Center Sign In Submit a Preprint Cite Share Download PDF Article Enhancing Culinary MSME Sustainability: The Role of an Integrated Model of Financial Self-Efficacy, Technology Adoption, and Community Based Mentoring in Indonesia's Digital Era Syamsul Bachri Soamole This is a preprint; it has not been peer reviewed by a journal. https://doi.org/ 10.21203/rs.3.rs-7209704/v1 This work is licensed under a CC BY 4.0 License Status: Under Review Version 1 posted 4 You are reading this latest preprint version Abstract This study analyzes the critical role of financial management in supporting the sustainability of culinary Micro, Small, and Medium Enterprises (MSMEs) in Indonesia’s digital era. Addressing significant gaps in the literature concerning comprehensive financial management solutions for this vital sector, this research proposes and empirically tests an innovative integrated framework that uniquely combines the Technology Acceptance Model (TAM), Self Efficacy Theory, and Community Based Learning Theory. Despite culinary MSMEs' substantial contribution to the national economy accounting for 61% of GDP and employing 97% of the workforce they persistently face financial management deficiencies that hinder long-term viability. Employing a descriptive qualitative design and an exploratory case study approach, data were gathered from 15 purposively selected MSME operators across Jakarta, Bandung, and Surabaya through in depth interviews, participant observation, document analysis, and focus group discussions. Thematic analysis, guided by Miles and Huberman’s methodology, revealed three major findings: (1) a pervasive reliance on manual financial management (80% of participants) and a failure to separate personal from business finances (73%), indicating systemic financial control weaknesses; (2) a clear correlation between high financial self efficacy with the adoption of digital tools and improved financial practices; and (3) the significant effectiveness of community based mentoring programs in enhancing cash flow understanding and financial discipline. These findings not only enrich the theoretical understanding of factors influencing digital adaptation and financial management in MSMEs but also provide strong practical implications for policymakers, educators, and support organizations in designing more effective interventions to enhance the financial capacity and sustainability of MSMEs in the digital era. Business and commerce/Business and management Social science/Business and management Business and commerce/Economics Social science/Economics Business and commerce/Finance Social science/Finance Business and commerce/Information systems and information technology financial management MSMEs digital transformation financial self efficacy community mentoring Indonesia technology adoption sustainability Figures Figure 1 1. INTRODUCTION Micro, Small, and Medium Enterprises (MSMEs) form the foundation of Indonesia’s economic landscape, contributing approximately 61% to the national Gross Domestic Product (GDP) and providing employment to nearly 97% of the labor force (BPS, 2023). Among these, the culinary sector plays a particularly vital role, contributing 6.5% to the national GDP in 2023 and employing 9.8 million individuals representing a significant 20.48% increase from 2016 (Kemenparekraf, 2023). This notable growth trajectory underscores the strategic importance of culinary MSMEs as key engines of economic development, employment generation, and poverty reduction. Nevertheless, despite their critical economic significance, culinary MSMEs face mounting challenges in adapting to the complexities of the digital era. The sector’s inherent vulnerabilities including high operational costs, fierce price based competition, and limited profit margins necessitate advanced financial management competencies. These include effective cash, cost control, and informed investment decision making (Bai, 2023; Dewi & Setiyono, 2022). However, empirical findings indicate a persistent disconnect between the sector’s financial management demands and the actual practices employed by many MSME operators. (Shinozaki & Rao, 2021; Lestari et al., 2025) report that approximately 65% of culinary MSMEs in Indonesia fail within their first five years of operation, with inadequate financial management cited as the primary contributing factor. This troubling statistic reflects deeper structural challenges, including poor financial record keeping, misappropriation of funds, overreliance on informal financing channels, and widespread deficiencies in financial literacy among MSME owners (Dicky Perwira Ompusunggu & Melya Nanda, 2023; Wijaya et al., 2024). These challenges are compounded by limited access to formal financial training and persistently low levels of digital financial system adoption. Comparative data further underscore this issue: only 23% of Indonesian culinary MSMEs currently utilize digital financial tools, a figure significantly lower than those of neighboring ASEAN countries such as Thailand (47%) and Malaysia (51%) (Johri et al., 2024). This substantial digital adoption gap poses a serious threat to the competitive standing of Indonesian MSMEs within the regional market particularly as global economic systems increasingly pivot toward digital first models, a trend accelerated by the post COVID-19 transformation. Given the complexity of these challenges, addressing them requires a multidimensional approach that extends beyond conventional financial management frameworks. While prior research has largely concentrated on technical financial competencies or isolated analyses of technology adoption, there remains a notable gap in the literature regarding the integrated influence of technological, psychological, and social dimensions on financial management effectiveness within the MSME context. This study aims to address the identified research gap by developing and empirically examining an integrated framework that incorporates three interrelated, yet previously underexplored, dimensions: (1) adaptive digital financial technologies tailored specifically to the operational realities of culinary MSMEs; (2) psychological determinants such as financial self efficacy and behavioral attitudes that shape the quality of financial decision making; and (3) community based mentoring models as sustainable and context-sensitive alternatives to traditional top-down training mechanisms. While much research (Adhikara, 2018; Rumijati & Rahman Hakim, 2023; Priyaadarshini & Jena, 2024) has addressed technology adoption or financial literacy independently, a comprehensive framework holistically integrating the roles of financial self efficacy, digital technology acceptance, and community based mentoring in shaping MSME financial management practices is lacking. Existing studies tend to focus on large corporations or formal sectors, leaving a significant gap in our understanding of financial dynamics at the MSME level, particularly within emerging economies like Indonesia, which are dominated by culinary MSMEs. This study aims to fill this gap by proposing and testing an integrated model that explains how psychological, technological, and social factors interactively influence MSMEs' ability to manage their finances effectively and sustainably in the digital era. The study is guided by three core research objectives: first, to conduct a comprehensive analysis of the extent to which current financial management practices influence the success and long-term viability of culinary MSMEs within Indonesia’s digital economy; second, to identify and critically assess the key technological, psychological, and social factors that contribute to business sustainability; and third, to design and validate an integrated financial management model that is congruent with the unique operational, socio cultural, and institutional contexts of Indonesian culinary entrepreneurs. The contributions of this research are twofold. From a theoretical perspective, the study advances MSME scholarship by integrating elements from the Technology Acceptance Model (TAM), Self-Efficacy Theory, and Community Based Learning Theory into a unified conceptual framework. From a practical standpoint, it offers evidence-based insights for policymakers, financial service providers, and MSME development practitioners aimed at strengthening financial management competencies and fostering resilience among culinary MSMEs. 2. LITERATURE REVIEW A. Financial Management in MSMEs: Current State and Challenges Financial management within the MSME sector has been widely examined across diverse economic and geographical contexts, consistently revealing a range of persistent challenges alongside potential areas for improvement. According to (Adomako et al., 2019), sound financial management practices encompassing cash flow oversight, financial planning, investment appraisal, and risk mitigation form the bedrock of MSME sustainability. Nevertheless, empirical research continues to highlight a considerable disconnect between theoretical best practices and their real world implementation. (Beck & Demirguc-Kunt, 2006), in a large scale study involving 2,847 MSMEs across developing economies, reported that 68% of these enterprises lacked even basic bookkeeping systems, 73% failed to produce regular financial statements, and 81% remained reliant on internal financing due to restricted access to formal credit mechanisms. These findings mirror regional trends within Southeast Asia, as evidenced by (Nguyen & Tran, 2025), who identified comparable financial management deficiencies among MSMEs in Vietnam and Thailand. In the Indonesian context, a number of studies have underscored similar obstacles. (Tambunan, 2019) revealed that 79% of Indonesian MSMEs operate without formalized financial management structures, instead relying on rudimentary, informal methods of record keeping that fall short of supporting strategic financial decision-making. Likewise, (Utami et al., 2021) pinpointed low levels of financial literacy as a central barrier, noting that only 32% of MSME proprietors possessed adequate knowledge of fundamental financial concepts, including cash flow management, profit margin calculation, and return on investment. The culinary subsector introduces an added layer of complexity, attributable to its distinct operational characteristics. Food related enterprises are typically marked by high inventory turnover, seasonal variability in demand, and diversified revenue streams (dine in, takeaway, delivery), all of which impose intricate financial management demands (Utami et al., 2021). (Fitriyah et al., 2023) further argue that culinary MSMEs require advanced cost accounting systems capable of accurately tracking food expenditures, labor costs, and overhead allocations capacities that many small business owners currently lack. B. Digital Transformation in MSME Financial Management The digital transformation of financial management represents a fundamental shift with profound implications for the sustainability of Micro, Small, and Medium Enterprises (MSMEs). (Guo et al., 2024) conceptualize this shift as the systematic integration of digital technologies such as cloud based accounting platforms, mobile payment systems, and automated financial reporting tools into conventional financial management practices. Contemporary research indicates that digital financial technologies offer viable solutions to longstanding financial challenges faced by MSMEs. A longitudinal study by (Li et al., 2024), involving 1,200 Chinese MSMEs, revealed that the adoption of digital financial systems resulted in a 34% improvement in cash flow management, a 28% decline in financial errors, and a 42% increase in access to formal credit facilities. Complementary findings by (Sarawagi et al., 2024) demonstrated that Indian MSMEs utilizing digital accounting tools experienced 31% higher survival rates over a five-year period compared to counterparts relying on manual systems. Despite these advantages, digital financial adoption remains critically low, particularly in developing economies. The Asian Development Bank's Digital MSME Survey 2023 reported that only 29% of MSMEs across Southeast Asia employ digital financial management tools, with Indonesia showing the lowest adoption rate at merely 23%. Key barriers impeding adoption include the perceived complexity of technological systems, financial constraints, limited digital literacy, and concerns over data security and privacy (Dwirini et al., 2025). The Technology Acceptance Model (TAM), originally proposed by (Davis, 1989) and later refined by (Venkatesh et al., 2003), offers a robust theoretical lens through which to examine technology adoption behavior. According to TAM, two primary factors perceived usefulness and perceived ease of use shape an individual’s intention to use new technology, with attitudes toward use acting as a mediating variable. Recent adaptations of TAM in the MSME context suggest the model’s expanded relevance. For instance, (Johri et al., 2024) found that social influence and enabling environmental conditions significantly influence the adoption of digital financial tools among small business owners. C. Psychological Factors in Financial Management Emerging scholarship increasingly acknowledges the pivotal role of psychological factors in shaping financial management effectiveness. One such factor, financial self efficacy defined as an individual’s belief in their capacity to successfully execute financial tasks has been consistently identified as a strong predictor of financial behavior (Farrell et al., 2016). The theoretical underpinning for this relationship is grounded in Bandura’s (1997) Self-Efficacy Theory, which posits that individuals with higher self efficacy are more likely to set ambitious goals, persevere in the face of obstacles, and develop adaptive strategies to overcome challenges. When applied to financial contexts, this translates into enhanced financial planning, increased discipline in saving and spending, and a greater propensity to seek professional financial advice when necessary. Empirical evidence supports these theoretical assertions. In a comprehensive study involving 387 Indonesian MSME owners, (Ibarrientos et al., 2024) identified a statistically significant positive correlation between financial self-efficacy and the quality of financial management practices (r = 0.550, p < 0.001). The study further revealed that entrepreneurs with high financial self-efficacy were 2.3 times more likely to maintain systematic financial records, 1.8 times more likely to distinguish between personal and business finances, and 2.7 times more likely to utilize formal financial planning instruments. In addition to self efficacy, prior financial trauma and negative financial experiences have been shown to influence financial behavior adversely. Research by (Ibarrientos et al., 2024) indicates that individuals with a history of financial failure often develop avoidance behaviors, resulting in suboptimal financial management. This phenomenon sometimes described as “financial PTSD” can severely hinder rational financial decision making and underscores the need for targeted psychological interventions to address its effects. D. Community based Learning and Mentoring Models Conventional financial training programs for MSMEs typically adopt a top down, classroom oriented model that often fails to account for the contextual, cultural, and experiential factors that influence learning effectiveness. In contrast, community based learning models present a promising alternative, emphasizing peer engagement, social support mechanisms, and contextually relevant content to enhance learning outcomes and long term behavioral change. The theoretical foundation for this pedagogical shift is rooted in (Lave & Wenger, 1991) Communities of Practice theory, which conceptualizes learning as a socially embedded process that occurs through active participation in authentic, practice-based communities. According to this framework, individuals acquire knowledge most effectively through “legitimate peripheral participation,” wherein newcomers gradually become more central participants in shared practices. Applied to financial education for MSMEs, this perspective suggests that peer driven, experiential learning within entrepreneurial communities may yield superior outcomes compared to traditional instructor-led methodologies. Empirical findings substantiate this proposition. (OECD, 2024), in their evaluation of community based financial literacy initiatives across 15 rural South Korean communities, observed that participants engaged in peer learning groups exhibited 43% greater retention of financial knowledge and a 38% higher rate of practical implementation compared to those enrolled in conventional training programs. Similarly, (OECD, 2022) reported that MSMEs in Mexico who participated in community mentoring schemes experienced a 52% enhancement in financial management competencies within a six month timeframe. The success of community based models appears to be driven by several interrelated factors, including cultural resonance, peer accountability, practical and iterative learning opportunities, and the reinforcement provided by sustained community interactions (Tisdell et al., 2013). Nevertheless, effective implementation necessitates careful attention to group cohesion, the training of facilitators, and the development of structured, scalable program designs. E. Research Gaps and Theoretical Framework Development Despite a substantial body of literature on financial management within MSMEs, several notable research gaps persist. Firstly, existing studies predominantly investigate technological, psychological, and social determinants in isolation, lacking comprehensive models that account for the dynamic interplay among these dimensions. Secondly, there remains a scarcity of research explicitly focusing on culinary MSMEs a subsector with distinct operational challenges that necessitate tailored financial management strategies. Thirdly, empirical investigations of community-based mentoring interventions within the Indonesian context are limited, despite the potential moderating influence of cultural norms and social learning dynamics on program effectiveness. The development of the integrated model in this research stems from the need to understand the complex phenomenon of MSME financial management, which cannot be adequately explained by a single theory alone. The Technology Acceptance Model (TAM) provides a lens for understanding the adoption of digital financial tools; however, successful adoption not only depends on perceived usefulness and ease of use but also on an individual's belief in their own capability (financial self efficacy). Furthermore, in the context of MSMEs in developing countries, the social environment and collective support (community based learning) play a vital role in facilitating transfer of knowledge and behavioral change. Therefore, this study proposes that the synergy among technological understanding (TAM), self-belief (Self Efficacy), and social support (Community Based Learning) is key to explaining the adoption of improved financial management practices and enhanced sustainability of culinary MSMEs. This framework is specifically designed to capture the dynamic interactions between individual, technological, and social dimensions within the operational context of MSMEs. 3. THEORETICAL FRAMEWORK A. Integrated Model Development This study advances an integrated theoretical framework that synthesizes three well established models namely, the Technology Acceptance Model (TAM), Self Efficacy Theory, and Community Based Learning Theory to explain the determinants of effective financial management in culinary MSMEs (Lviv Polytechnic National University et al., 2021). The framework posits that financial management effectiveness emerges from the synergistic interaction of technological adoption, psychological readiness, and social support systems. Technological Dimension: Grounded in TAM, the model posits that the adoption of digital financial tools by MSME owners is primarily driven by two cognitive evaluations: perceived usefulness defined as the extent to which individuals believe that digital tools enhance the effectiveness of financial management and perceived ease of use the degree to which digital tools are considered user-friendly and require minimal effort. These perceptions are shaped by a constellation of factors, including system interface design, users’ digital literacy levels, and contextual variables specific to the culinary sector. Psychological Dimension: Integrating insights from Self Efficacy Theory, the framework identifies financial self-efficacy as a pivotal mediating construct between technology acceptance and actual financial management behavior. MSME owners with high levels of financial self efficacy are more likely to not only adopt digital financial tools but also demonstrate sustained engagement and implementation, thereby enhancing financial decision-making and control. Social Dimension: Informed by Community Based Learning Theory, the model underscores the role of social learning environments particularly peer networks and mentoring relationships as critical enablers of both technology acceptance and self-efficacy development. Community based interventions foster experiential, context sensitive learning and offer emotional and motivational support mechanisms that are often absent in conventional, top down training programs. These social structures reinforce learning through shared experiences and continuous feedback, making them particularly effective for MSMEs embedded in culturally nuanced entrepreneurial ecosystems. B. Conceptual Model and Propositions Based on the integrated framework, we develop the following propositions: This figure illustrates the proposed conceptual framework that integrates three dimensions technology adoption, financial self efficacy, and peer based mentoring into a unified model aimed at enhancing financial management practices and sustainability in culinary MSMEs. P1: Digital financial tool adoption in culinary MSMEs is positively influenced by perceived usefulness and perceived ease of use, consistent with TAM predictions. P2: Financial self efficacy mediates the relationship between technology acceptance and financial management effectiveness. P3: Community based mentoring enhances both digital tool adoption and financial self efficacy through peer learning and social support mechanisms. P4: The integration of technological, psychological, and social interventions produces synergistic effects that exceed the sum of individual interventions. 4. METHODOLOGY A. Research Design and Philosophical Approach This study utilizes a descriptive qualitative design grounded in an exploratory case study methodology to examine the intricate dynamics of financial management among culinary MSMEs operating within Indonesia’s digital era. The qualitative approach is particularly appropriate given the need for an in depth understanding of the contextual, cultural, and behavioral factors that shape financial management practices dimensions that quantitative methods may insufficiently capture. Adopting a constructivist-interpretivist epistemological stance, the research acknowledges that financial management behaviors are socially constructed and highly context specific. This perspective facilitates a rich exploration of the subjective experiences, perceptions, and meanings that MSME owners associate with their financial management activities, adoption of digital technologies, and engagement in community based learning processes. Moreover, elements of grounded theory methodology are integrated to support the inductive development of theoretical insights through rigorous and systematic data analysis. This approach enables the formulation of an integrated conceptual framework that emerges directly from empirical evidence rather than being predetermined. B. Research Setting and Context The study was carried out across three prominent Indonesian cities Jakarta, Bandung, and Surabaya chosen based on their substantial concentrations of culinary MSMEs, diverse economic landscapes, and differing stages of digital infrastructure development. Jakarta, as the nation’s capital, exemplifies a highly advanced digital ecosystem; Bandung serves as a secondary city characterized by growing digital adoption; while Surabaya functions as a major regional hub where traditional and digital business practices coexist, offering a heterogeneous environment for investigating financial management dynamics. C. Participant Selection and Sampling Strategy Participants were recruited through purposive sampling employing a maximum variation strategy to capture a broad spectrum of characteristics across key dimensions, including business scale (micro, small, medium), levels of technology adoption (low, moderate, high), financial literacy proficiency, business tenure, and gender. The selection criteria comprised the following: Inclusion criteria: Culinary MSME owners with minimum 2 years operating experience Businesses with annual revenue between IDR 50 million - 2.5 billion Owners aged 25-55 years with decision-making authority Willingness to participate in multiple data collection sessions Exclusion criteria: Franchise operations with standardized financial systems Businesses primarily focused on catering to large corporations Seasonal or temporary food vendors The final sample comprised 15 culinary MSME owners (8 female, 7 male) with business ages ranging from 2-12 years. Additionally, 5 financial mentoring facilitators, 3 cooperative agency representatives, and 2 fintech provider representatives participated in focus group discussions. D. Data Collection Methods Data collection employed multiple methods to ensure comprehensive understanding and methodological triangulation: In-depth Semi-Structured Interviews Fifteen individual interviews were conducted with MSME owners, each lasting 60-90 minutes. The interview guide covered five main themes: current financial management practices, technology adoption experiences, psychological factors influencing financial decisions, community and social support systems, and perceived barriers and facilitators. Participant Observation Direct observation of financial management activities was conducted in 8 businesses over 2-4 hour periods, focusing on daily financial routines, technology usage patterns, decision making processes, and interactions with customers and suppliers. Documentation Analysis Financial documents, digital transaction logs, training materials, and business records were analyzed where available and with participant consent. This provided objective data to complement interview and observation findings. Focus Group Discussions Three focus group discussions were conducted: one with MSME owners (6 participants), one with financial mentoring facilitators (4 participants), and one with stakeholders including cooperative agencies and fintech providers (5 participants). Each session lasted 90-120 minutes and focused on community based learning experiences and systemic barriers to financial management improvement. E. Data Analysis Approach Data were analyzed using thematic analysis following (Miles and Huberman's, 1994) framework involving data reduction, data display, and conclusion drawing/verification. The analysis process included: Phase 1: Data Familiarization and Initial Coding All interviews were transcribed verbatim in Indonesian and translated to English by bilingual researchers. Initial coding was conducted using both inductive and deductive approaches, with codes derived from both theoretical frameworks and emerging themes. Phase 2: Theme Development Initial codes were grouped into potential themes through iterative analysis. The research team met regularly to discuss emerging themes, resolve discrepancies, and refine the coding framework. Phase 3: Theme Review and Refinement Themes were reviewed against the original data to ensure accuracy and coherence. The final thematic framework comprised three main themes with multiple sub-themes. Phase 4: Cross Case Analysis Comparative analysis across cases was conducted to identify patterns, variations, and relationships between themes. F. Trustworthiness and Validity Multiple strategies were employed to enhance research trustworthiness: Credibility: Achieved through prolonged engagement, methodological triangulation, member checking with participants, and peer debriefing among research team members. Transferability: Enhanced through thick description of contexts, participants, and findings to enable readers to assess applicability to other settings. Dependability: Ensured through systematic documentation of research procedures, maintaining an audit trail, and external auditing by experienced qualitative researchers. Confirmability: Achieved through reflexive journaling, explicit acknowledgment of researcher biases, and systematic documentation of analytical decisions. G. Ethical Considerations The research received ethical approval from the institutional review board. All participants provided informed consent, were assured of anonymity and confidentiality, and retained the right to withdraw without consequences. Data were stored securely and will be destroyed after the required retention period. H. Research Limitations Several limitations should be acknowledged: (1) the qualitative approach limits statistical generalizability, though theoretical transferability remains possible; (2) self reported data may be subject to social desirability bias; (3) the cross-sectional design cannot establish causal relationships; (4) cultural and linguistic factors may influence data interpretation; and (5) the focus on culinary MSMEs may limit applicability to other MSME sectors. 5. RESULTS A. Participant Characteristics The 15 participating culinary MSME owners represented diverse business profiles. Eight were female entrepreneurs (53%), with ages ranging from 27 to 54 years (mean = 38.2 years). Business ages varied from 2 to 12 years (mean = 6.4 years), with annual revenues spanning IDR 75 million to IDR 2.1 billion. Business types included traditional Indonesian cuisine (40%), fusion/modern cuisine (33%), beverages and snacks (20%), and catering services (7%). B. Theme 1: Financial Management Practices and Systemic Challenges Predominance of Manual Financial Management Systems The analysis revealed that 12 out of 15 respondents (80%) rely primarily on manual financial management systems, with most using basic notebooks or simple spreadsheets for record-keeping. The sophistication of these systems varies considerably, but most lack the structural elements necessary for effective financial analysis. A Jakarta-based restaurant owner explained: "I write everything in a small notebook daily sales, expenses for ingredients, staff payments. Sometimes I forget to write immediately, and at the end of the month, I try to remember what I spent. There's no proper report, so it's hard to know if I'm really making profit or just breaking even." Only 3 respondents (20%) maintained structured financial records with regular profit and loss statements, and only 5 respondents (33%) prepared basic cash flow statements. This finding indicates a fundamental gap in financial management infrastructure that undermines strategic decision-making capabilities. Failure to Separate Personal and Business Finances A critical finding was that 11 respondents (73%) failed to maintain clear separation between personal and business finances. This practice creates multiple problems: inability to accurately assess business profitability, complications in tax preparation, and difficulties in accessing formal credit due to unclear financial statements. A Bandung café owner described the challenge: "My business money and family money are mixed together. When I need to buy ingredients, sometimes I use personal money. When family needs something, I take from business income. At the end of the month, I don't really know how much the business made." This finding aligns with previous research but reveals the persistence of this problem despite increased awareness campaigns and training programs. Intuition-Based Decision Making The majority of respondents (87%) make critical financial decisions including pricing, inventory purchasing, and capacity expansion based primarily on intuition and experience rather than systematic financial analysis. While experiential knowledge has value, the lack of data-driven decision-making limits optimization opportunities and increases business risks. A Surabaya food truck owner stated: "I set prices based on what feels right and what competitors charge. I don't calculate exactly how much each dish costs to make. If sales are good, I assume I'm making profit. If sales are bad, I know I'm losing money. That's my financial analysis." Limited Access to Formal Financing Nine respondents (60%) have never applied for formal bank loans, primarily due to lack of proper financial documentation. Those who have applied often face rejection or unfavorable terms due to inadequate financial records. This creates a vicious cycle where poor financial management leads to limited access to capital, which in turn constrains business growth and improvement opportunities. C. Theme 2: Psychological Factors Influencing Financial Management a. Financial Self efficacy as a Critical Determinant The analysis revealed significant variation in financial self efficacy among respondents, with profound implications for financial management practices. Six respondents (40%) demonstrated high financial self efficacy, characterized by confidence in their ability to manage business finances, willingness to learn new financial concepts, and persistence in implementing systematic financial practices. A high self efficacy respondent from Bandung shared: "After attending financial training, I felt more confident managing my business finances. I started tracking income and expenses daily using a simple app. Now I can see patterns which days are profitable, which menu items have better margins. This helps me make better decisions about inventory and pricing." These high self efficacy individuals consistently demonstrated superior financial practices: 100% maintained some form of regular financial records, 83% used digital tools for at least basic record keeping, and 67% prepared monthly financial summaries. b. Financial Trauma and Avoidance Behaviors Conversely, 4 respondents (27%) exhibited clear signs of financial trauma stemming from previous business failures or negative financial experiences. These individuals demonstrated avoidance behaviors that significantly impeded effective financial management. One respondent who experienced previous business failure explained: "After my first business failed three years ago, I became afraid to deal with numbers and financial records. Even thinking about profit and loss makes me anxious. I know it's important, but I just can't bring myself to do detailed financial analysis. I prefer to focus on cooking and serving customers." This finding highlights an underexplored dimension of MSME financial management the psychological barriers that prevent business owners from engaging with financial management tasks even when they understand their importance. c. Relationship Between Self efficacy and Technology Adoption A robust positive correlation was identified between financial self efficacy and the propensity to adopt digital financial tools. Notably, all six participants exhibiting high financial self efficacy had actively engaged with digital financial applications, whereas only one out of four participants with low self-efficacy had attempted to utilize such tools. Individuals with high self efficacy regarded technology as an empowering resource that could improve their financial management capabilities. In contrast, those with low self efficacy perceived technology as an additional source of complexity, which exacerbated their anxiety surrounding financial management tasks. D. Theme 3: Digital Technology Adoption and Community based Mentoring a. Low Digital Adoption Despite Availability Only 4 respondents (27%) regularly used digital financial management tools, despite widespread availability of affordable applications designed for small businesses. This low adoption rate reflects multiple interconnected barriers rather than simple technological constraints. b. Barriers to Digital Adoption Lack of Digital Literacy (60% of respondents): Many respondents lacked basic digital skills necessary to effectively use financial management applications. A Surabaya restaurant owner explained: "I downloaded a financial app that someone recommended, but I don't fully understand how to use it. The features are confusing, and I'm afraid of entering wrong information. It's easier to stick with my notebook, even though I know it's not ideal." Feature-Context Mismatch (53% of respondents): Available applications often failed to match the specific needs and contexts of culinary businesses. Many apps were designed for general retail businesses and lacked features relevant to food service operations such as recipe costing, ingredient tracking, and seasonal menu management. Security and Data Loss Concerns (47% of respondents): Fears about data security, application reliability, and potential data loss created significant barriers to adoption, particularly among older business owners with limited technology experience. c. Exceptional Effectiveness of Community based Mentoring The most striking finding was the remarkable effectiveness of community based mentoring programs observed in Bandung. A pilot program involving 7 MSME owners achieved extraordinary results: 6 participants (86%) successfully implemented basic digital record keeping systems and demonstrated improved cash flow understanding within three months. The program's success appeared to stem from several key factors: Peer Learning Environment: Participants learned alongside peers facing similar challenges, creating a supportive environment that reduced anxiety and increased engagement. Contextual Relevance: Training content was specifically tailored to culinary business contexts, using familiar examples and addressing common industry challenges. Ongoing Support: Unlike traditional one-time training sessions, the mentoring program provided ongoing support through regular group meetings and individual consultations. Social Accountability: Group dynamics created positive peer pressure that encouraged continued engagement and implementation. A program participant shared: "Learning with other food business owners made a huge difference. We shared similar problems, so the solutions made sense. Having a mentor who understood our business and peers who encouraged me helped me stick with the new system. Now I can't imagine running my business without proper financial records." d. Comparison with Traditional Training Approaches Participants who had previously attended traditional financial training programs consistently reported that community based mentoring was more effective. Traditional programs were described as too theoretical, lacking practical application opportunities, and failing to provide ongoing support for implementation. E. Cross Case Analysis: Integration of Findings The cross case analysis uncovered intricate interactions among the three primary themes. Participants with high financial self efficacy were more inclined to adopt digital financial tools and actively engage in community based learning initiatives. In contrast, individuals experiencing financial trauma or exhibiting low self efficacy demonstrated resistance to both digital technology adoption and conventional training programs. The community based mentoring model effectively addressed multiple challenges concurrently by improving digital literacy, fostering financial self efficacy, and offering sustained social support. This multidimensional strategy generated synergistic effects that surpassed the impact of isolated interventions. Nonetheless, the findings also indicated variability in receptiveness to community based approaches, influenced by individual personality traits, prior experiences with group settings, and available time commitment, which in turn affected participation levels and program outcomes. 6. DISCUSSION A. Financial Management Deficiencies: Persistent Challenges in Digital Era The finding that 80% of respondents rely on manual financial management systems, coupled with 73% not separating personal and business finances, not only corroborates but also expands upon prior studies, highlighting the ongoing prevalence of fundamental financial management challenges despite heightened awareness and training initiatives. This enduring issue suggests that conventional strategies aimed at enhancing MSME financial management may be insufficient or misaligned with the practical realities and constraints faced by entrepreneurs. The pervasive reliance on manual financial management and the failure to separate personal from business finances illustrate a fundamental challenge that runs deeper than mere financial literacy. It underscores an urgent need for interventions focused on behavioral change and financial discipline, rather than solely on tool provision. Contrary to traditional views emphasizing a lack of knowledge, our findings suggest that a primary impediment may lie in an unwillingness to change and the absence of simple yet effective internal control structures. This has significant implications for MSME viability and their ability to access formal funding, as a lack of transparency complicates risk assessment by financial institutions. Beyond these systemic issues, the dominance of intuition based decision making, evident in 87% of participants, aligns with (Krämer, 2014), concept of System 1 thinking fast, automatic, and experiential rather than the deliberate and analytical System 2 thinking necessary for sound financial management. While such cognitive processing may be advantageous in many business scenarios, it becomes detrimental when applied to complex financial decisions requiring systematic evaluation. Our results extend the findings of (Utami et al., 2021) by revealing that financial literacy gaps persist even among MSME owners who have undergone formal financial training. This indicates that knowledge acquisition alone is insufficient; successful interventions must also overcome implementation barriers, motivational factors, and contextual limitations that hinder the practical application of financial knowledge. Furthermore, limited access to formal financing, reported by 60% of respondents, perpetuates a vicious cycle of financial management inadequacy. Inadequate financial records contribute to credit rejections, restricting access to capital essential for business expansion and system enhancements. This supports (Beck & Demirguc-Kunt, 2006) assertion that financial management skills and access to finance are interdependent challenges rather than sequential issues. B. Psychological Dimensions: The Critical Role of Financial Self Efficacy The identification of financial self efficacy as a pivotal factor influencing the effectiveness of financial management marks a notable advancement in MSME research. The observation that 40% of respondents exhibiting high financial self efficacy consistently practiced superior financial management lends empirical validation to (Bandura’s, 1997) in (Veselinovic et al., 2022) theoretical framework within the specific realm of small business financial behavior. The strong link between high financial self efficacy and the adoption of digital tools and better financial practices underscores the critical importance of psychological dimensions in MSME management. This finding extends the existing literature on self efficacy by demonstrating its crucial role in the context of digital transition and financial behavioral adaptation. This implies that digital training or support programs must not only focus on 'how' to use tools, but also on building MSMEs' self belief in their ability to manage finances digitally and overcome past 'financial trauma'. This is a significant contribution to the development of more holistic training curricula for MSME entrepreneurs. More critically, the detection of financial trauma and avoidance behaviors among 27% of participants introduces an often overlooked psychological dimension that may underlie the persistence of suboptimal financial management despite the availability of training and resources. This insight builds on (Fitriyah et al., 2023) by highlighting psychological barriers that conventional financial training programs have yet to adequately address. The study’s identification of “financial PTSD,” where prior adverse financial experiences foster enduring avoidance behaviors, offers an explanation for why certain business owners resist improvements in financial management despite recognizing their importance. Addressing this psychological barrier may require therapeutic or counseling interventions rather than traditional financial training approaches. C. Digital Adoption Paradox: Low Adoption Despite High Potential The discovery that only 27% of respondents consistently utilize digital financial tools despite their widespread availability and recognized advantages illustrates what we describe as the "digital adoption paradox" within MSME settings. This paradox cannot be fully accounted for by technological limitations or cost concerns alone, given that many relevant applications are accessible at minimal or no cost. Our findings indicate that the primary obstacles to digital adoption are rooted in human factors rather than purely technological issues. Specifically, 60% of respondents identified a lack of digital literacy as a barrier, 53% reported that the features of existing tools do not align well with their specific business contexts, and 47% expressed apprehensions about data security. These results underscore the necessity for human-centered design approaches that focus on enhancing user experience, ensuring contextual relevance, and fostering trust. The issue of feature context mismatch is especially critical, as it highlights that most financial management applications are not adequately tailored to the distinct needs of culinary MSMEs. Such businesses require specialized functions to manage recipe costing, seasonal menu variations, diverse revenue streams, and perishable inventory requirements that generic business software typically fails to address effectively. This evidence supports (Venkatesh et al., 2003) extended Technology Acceptance Model, which stresses the role of facilitating conditions and social influence in technology uptake. Nonetheless, our analysis suggests that psychological factors particularly financial self efficacy may be as influential, if not more so, than traditional TAM constructs in shaping successful digital adoption. D. Community-based Mentoring: A Paradigm Shift in MSME Training The remarkably high implementation success rate of 86% observed in community based mentoring programs compared to the typical 15–25% success rates reported for conventional training constitutes one of the most significant practical contributions of this study. This outcome indicates that community based approaches may represent a transformative shift in the development of financial management competencies among MSMEs. The significant effectiveness of community-based mentoring programs in enhancing cash flow understanding and financial discipline offers a potent and sustainable intervention model for MSME development. Unlike 'top-down' approaches, this community based model leverages social trust and peer learning, proving more effective in the MSME context where skepticism towards external interventions is common. This finding reaffirms the value of a socio-cultural approach to financial education and demonstrates that investing in community support networks can be a highly effective strategy to enhance MSME financial management capacity, which in turn will support their long-term business sustainability. The effectiveness of these programs appears to derive from their simultaneous engagement with multiple dimensions: cognitive (acquisition of financial knowledge), behavioral (application of new practices), social (peer support and accountability), and emotional (enhancement of confidence and reduction of anxiety). Such a multidimensional framework aligns closely with adult learning theories that emphasize experiential, social, and contextually grounded learning processes. Furthermore, the demonstrated superiority of peer-led learning over expert driven instruction lends empirical support to (Lave & Wenger, 1991) Communities of Practice theory, which asserts that learning is most effective when it occurs through legitimate peripheral participation within authentic social settings. The culinary MSME environment provides this contextual authenticity, as entrepreneurs encounter shared challenges and derive meaningful insights through mutual experience exchange. Additionally, the study finds that community-based mentoring not only addresses psychological barriers by fostering financial self efficacy but also enhances technical competencies related to digital financial tools. This dual impact generates synergistic benefits unattainable through traditional training modalities, fostering a sustainable learning ecosystem rather than episodic instructional events. However, findings also indicate that the efficacy of community-based approaches is not uniform across all participants. Individual differences including personality traits, availability of time, and prior experience in group settings affect engagement levels and learning outcomes. These variations underscore the need for tailored program design, with careful consideration of group dynamics, facilitation methods, and personalized needs assessments to optimize effectiveness. E. Theoretical Contributions: An Integrated Framework Theoretically, this study provides a substantial contribution by developing and validating an integrated framework that combines the Technology Acceptance Model (TAM), Self Efficacy Theory, and Community Based Learning Theory. This integration uniquely explains the complex interplay between psychological, technological, and social factors that shape MSME financial management practices. It expands our understanding of how these theories complement each other to predict the adoption and sustainability of financial behaviors, particularly in the underexplored context of MSMEs in previous literature. The proposed model reveals that technology adoption cannot be fully explained by TAM constructs perceived usefulness and perceived ease of use without incorporating psychological readiness, specifically financial self efficacy, and social support mechanisms inherent in community-based learning. This insight advances the existing body of technology adoption literature by emphasizing the critical influence of psychological and social factors as prerequisites for effective digital transformation. Moreover, the framework identifies financial self efficacy not only as a direct determinant of financial management effectiveness but also as a moderator enhancing the impact of technology adoption. This dual function implies that strategies aimed at boosting self efficacy could yield multiplicative benefits rather than merely additive improvements. Finally, the model demonstrates that community-based learning interventions address multiple challenges simultaneously technical competence, psychological preparedness, and social support thereby generating synergistic outcomes that surpass the cumulative effects of isolated interventions. F. Practical Implications for Stakeholders 1. Implications for Policymakers The findings indicate that existing MSME development policies may fall short in tackling the fundamental causes of financial management shortcomings. Conventional strategies that emphasize formal training and technology provision appear inadequate unless they also address psychological obstacles and ensure sustained social support. Policy efforts should consider a shift from predominantly supply driven interventions such as training delivery and technology distribution towards demand driven strategies that enhance psychological readiness and foster supportive community networks. This could involve allocating resources to community based mentoring programs, promoting peer learning groups, and designing culturally sensitive financial counseling services. Moreover, the high rate of formal financing failure, with 60% of MSMEs never applying due to insufficient financial records, underscores the necessity for financial inclusion policies to prioritize the development of financial management competencies as a foundational requirement rather than a concurrent goal. Integrated approaches that simultaneously enhance financial access and build managerial capabilities are likely to yield greater effectiveness than isolated initiatives. 2. Implications for Financial Institutions Financial institutions, including banks and microfinance organizations, should acknowledge that conventional credit assessment models may not adequately capture the creditworthiness of MSMEs with limited or poor financial documentation but strong business potential. Implementing alternative evaluation frameworks that incorporate business fundamentals, competitive positioning, and owner competencies could enhance financial inclusion while safeguarding credit quality. Moreover, financial institutions have the opportunity to actively contribute to the development of financial management skills within their client base by adopting community-based initiatives rather than relying solely on conventional financial literacy seminars. Collaborations with local business networks and mentoring entities could foster sustainable ecosystems, generating mutual benefits for both financial service providers and MSMEs. The recognition that financial trauma can lead to persistent avoidance behaviors highlights the necessity for financial institutions to adopt empathetic and tailored engagement strategies when interacting with entrepreneurs who have faced prior financial setbacks. Approaches grounded in support and understanding are likely to be more effective than traditional, transaction-focused methods. 3. Implications for Technology Providers The notably low digital adoption rate of 27%, despite the broad availability of financial management applications, indicates that many existing technologies are not optimally designed to meet the specific needs of MSMEs. To address this gap, technology developers should prioritize user centered design methodologies that emphasize ease of use, contextual relevance, and trust enhancement. The feature context mismatch reported by 53% of respondents highlights a critical opportunity for creating specialized software solutions tailored to the unique operational requirements of culinary businesses. Incorporating functionalities such as recipe cost analysis, seasonal menu adjustments, supplier management, and seamless integration with food delivery platforms could substantially improve the perceived usefulness of these digital tools. Furthermore, the demonstrated significance of continuous support within community based mentoring programs suggests that technology providers ought to offer holistic support ecosystems alongside their products. Such ecosystems might encompass user forums, peer assistance networks, and collaboration with local business development agencies to ensure sustained user engagement and effective technology utilization. 4. Implications for MSME Development Organizations The remarkable effectiveness of community based mentoring models indicates that development organizations need to fundamentally rethink their traditional training strategies. Transitioning from expert driven, classroom-style instruction to peer-led, community centered mentoring has the potential to substantially enhance the impact and sustainability of capacity building initiatives. Given the significant influence of psychological factors on financial management outcomes, development programs should integrate counseling or therapeutic components to address issues such as financial trauma and to foster financial self-efficacy. This approach necessitates equipping facilitators with basic counseling competencies and cultivating supportive, empathetic learning environments. Moreover, the successful integration of diverse intervention modalities including technical skill development, psychological empowerment, and social networking implies that development efforts should embrace comprehensive, multidimensional strategies rather than isolated interventions. Achieving this may involve forming collaborative partnerships across various sectors and committing to longer-term program frameworks to ensure sustained benefits. G. Limitations and Future Research Directions 1. Study Limitations Several limitations must be considered when interpreting the results of this study. Firstly, the qualitative design involving 15 participants constrains the statistical generalizability of the findings. However, the insights may offer theoretical transferability, particularly to contexts with similar cultural and economic characteristics, though validation in diverse settings is warranted. Secondly, the cross-sectional nature of the research limits the ability to infer causal relationships among the studied variables. Although the integrated framework proposes potential causal pathways, longitudinal research is necessary to substantiate these links and evaluate the enduring impact of related interventions. Thirdly, reliance on self-reported data introduces the possibility of social desirability bias, especially concerning financial management behaviors and technology adoption. Future investigations would benefit from incorporating objective data sources, such as audits of financial records and digital tool usage analytics. Fourthly, the exclusive focus on culinary MSMEs may restrict the applicability of findings to other MSME sectors, which may possess distinct operational dynamics and financial management needs. Comparative sectoral studies would help differentiate between universal and sector-specific determinants. Lastly, cultural and linguistic factors inherent to the Indonesian context may affect both data collection and interpretation. Therefore, the transferability of findings to other cultural environments should be approached cautiously and may require cultural adaptation. 2. Future Research Directions Several promising research directions emerge from this study: Longitudinal Impact Assessment: Long-term studies tracking the effectiveness of integrated interventions over 2-3 years could provide valuable insights into sustainability and evolution of impacts. Quantitative Model Testing: Large-scale surveys could test the integrated framework quantitatively and examine relationships between variables with greater statistical precision. Cross Cultural Validation: Replicating the study in different cultural contexts could enhance understanding of universal versus culture specific factors influencing financial management practices. Sector Comparative Analysis: Comparing findings across different MSME sectors could identify sector specific factors and develop tailored intervention approaches. Technology Design Research: Collaborative research with technology providers could develop and test user centered financial management applications specifically designed for culinary MSMEs. Psychological Intervention Studies: Experimental studies examining the effectiveness of different psychological interventions for building financial self efficacy and addressing financial trauma could enhance intervention design. Policy Impact Evaluation: Studies examining the effectiveness of different policy approaches to supporting MSME financial management could inform evidence based policy development. 7. CONCLUSION A. Summary of Key Findings This study explored the role of financial management in enhancing the sustainability of culinary MSMEs in Indonesia’s digital era by employing an integrated framework encompassing technological, psychological, and social dimensions. The findings highlight significant challenges in financial practices, with 80% of participants relying on manual systems and 73% failing to separate personal and business finances, underscoring persistent fundamental issues that conventional interventions have not effectively resolved. Moreover, psychological factors, particularly financial self-efficacy, emerged as crucial determinants of financial management quality, as evidenced by 40% of respondents with high self efficacy demonstrating consistently better practices, while those affected by financial trauma showed avoidance behaviors that hinder progress. Additionally, despite the availability of digital financial tools, adoption rates remain low at 27%, primarily due to human centered barriers rather than technological limitations. This digital adoption paradox indicates that successful digital transformation necessitates addressing psychological readiness and contextual support beyond mere technology provision. Furthermore, community based mentoring programs exhibited remarkable effectiveness, achieving an 86% implementation success rate, far surpassing traditional training outcomes. These results suggest a critical need to shift MSME development strategies toward integrated, socially embedded approaches that combine technical, psychological, and communal support mechanisms. B. Theoretical Contributions Theoretically, this study provides a substantial contribution by developing and validating an integrated framework that combines the Technology Acceptance Model (TAM), Self Efficacy Theory, and Community Based Learning Theory. This integration uniquely explains the complex interplay between psychological, technological, and social factors that shape MSME financial management practices. It expands our understanding of how these theories complement each other to predict the adoption and sustainability of financial behaviors, particularly in the underexplored context of MSMEs in previous literature. C. Practical Contributions The practical implications of this research are highly significant. Firstly, for policymakers and MSME support organizations, it is crucial to design financial management training programs that not only focus on technical aspects (e.g., app usage) but also on strengthening financial self-efficacy and addressing psychological barriers. Secondly, community based mentoring approaches should be mainstreamed as an effective strategy to enhance financial literacy and discipline, as they have proven capable of bridging knowledge and trust gaps. Thirdly, the development of digital tools for MSMEs must consider feature suitability and data security concerns to ensure greater acceptance and utilization. With these points in mind, holistic and contextualized interventions are key to enhancing the financial management capacity of culinary MSMEs and fostering their sustainability in the digital era. D. Integrated Model for MSME Financial Management Based on the empirical findings, this study proposes an integrated model for enhancing financial management capabilities among culinary MSMEs. The model emphasizes four key principles: Multi dimensional Integration: Effective interventions must simultaneously address technological, psychological, and social dimensions rather than focusing on individual aspects in isolation. Human Centered Design: Technology solutions must prioritize user experience, contextual relevance, and trust-building rather than focusing solely on technical capabilities. Community based Implementation: Learning and behavior change occur most effectively through peer-supported, community based approaches rather than traditional expert led training. Psychological Prerequisites: Building financial self efficacy and addressing psychological barriers are prerequisites for successful technology adoption and sustainable practice improvement. E. Implications for MSME Sustainability This research highlights that effective financial management is fundamental to the sustainability of MSMEs in the digital era, yet achieving this effectiveness demands addressing multifaceted and interconnected challenges. The integrated framework presented offers a strategic pathway to enhance MSME sustainability by focusing on comprehensive capability development that targets underlying issues rather than merely treating surface level symptoms. Moreover, the finding that community based mentoring programs achieve an impressive 86% implementation success rate underscores their significant potential for broader application. However, scaling these interventions effectively will require careful consideration of local cultural contexts, individual participant needs, and the program design principles identified through this study to ensure adaptability and sustained impact. F. Final Recommendations Based on the research findings, several key recommendations emerge: Adopt Integrated Approaches: Stakeholders should avoid single intervention approaches and instead develop comprehensive programs that address technological, psychological, and social dimensions simultaneously. Prioritize Community-based Methods: Training and development programs should shift from traditional classroom approaches to community based mentoring models that leverage peer learning and social support. Address Psychological Barriers: Interventions should explicitly address financial self-efficacy and trauma-related avoidance behaviors through supportive, non judgmental approaches. Develop Contextual Technology Solutions: Technology providers should invest in user-centered design approaches that prioritize culinary MSME contexts and needs. Create Supportive Ecosystems: Rather than isolated interventions, stakeholders should work to create integrated ecosystems that provide ongoing support for financial management improvement. The journey toward sustainable culinary MSMEs in Indonesia’s digital era demands a fundamental transformation in the understanding and development of financial management capabilities. This study offers a robust theoretical foundation alongside practical recommendations to guide these changes, emphasizing that successful implementation depends on ongoing commitment and collaboration among diverse stakeholders. By adopting integrated strategies that leverage technological advancements while addressing the human aspects of learning and behavioral change, culinary MSMEs in Indonesia can build the financial management competencies essential for enduring sustainability and growth in an increasingly digital landscape. Declarations Funding This research received no external funding. Author Contribution C.L. is the sole author of this work and is responsible for the study’s conception, data collection, analysis, interpretation, and manuscript preparation. Acknowledgements The authors would like to thank all MSME participants and community mentors for their contributions to this study. Data Availability The research data were collected directly by the author(s) through surveys/interviews/field observations. Due to confidentiality and ethical considerations, the raw data are not publicly available but can be provided upon reasonable request and subject to ethical approval. References Adhikara, N. D. (2018). Financial Accounting Standards for Micro, Small & Medium Entities (SAK EMKM) Implementation and Factors That Affect It. JEMA: Jurnal Ilmiah Bidang Akuntansi Dan Manajemen , 15 (2), 50. https://doi.org/10.31106/jema.v15i2.1126 Adomako, S., Amankwah-Amoah, J., Dankwah, G. O., Danso, A., & Donbesuur, F. (2019). 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Retrieved from https://www.bps.go.id/publication/2023/12/05/statistik-usaha-mikro-kecil-2023.html Kementerian Pariwisata dan Ekonomi Kreatif (Kemenparekraf). (2023). Panduan Manajemen Keuangan UMKM Sektor Pariwisata dan Ekonomi Kreatif . Jakarta: Kemenparekraf. Additional Declarations No competing interests reported. Supplementary Files NVivoCodingReport.docx Cite Share Download PDF Status: Under Review Version 1 posted Editorial decision: Revision requested 05 Sep, 2025 Editor assigned by journal 05 Sep, 2025 Submission checks completed at journal 17 Aug, 2025 First submitted to journal 24 Jul, 2025 You are reading this latest preprint version Research Square lets you share your work early, gain feedback from the community, and start making changes to your manuscript prior to peer review in a journal. As a division of Research Square Company, we’re committed to making research communication faster, fairer, and more useful. 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Also discoverable on Platform About Our Team In Review Editorial Policies Advisory Board Help Center Resources Author Services Accessibility API Access RSS feed Manage Cookie Preferences © Research Square 2026 | ISSN 2693-5015 (online) Privacy Policy Terms of Service Do Not Sell My Personal Information {"props":{"pageProps":{"initialData":{"identity":"rs-7209704","acceptedTermsAndConditions":true,"allowDirectSubmit":false,"archivedVersions":[],"articleType":"Article","associatedPublications":[],"authors":[{"id":491675879,"identity":"5afbc567-8150-45f2-9d6d-c4776d1a5c8b","order_by":0,"name":"Syamsul Bachri Soamole","email":"data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAAZAAAAAyAQMAAABI0h/eAAAABlBMVEX///8AAABVwtN+AAAACXBIWXMAAA7EAAAOxAGVKw4bAAAA80lEQVRIiWNgGAWjYFACxgdgig1EfAAx2AlqYTaAa2GcAWIwE6sFzOQBkwQ08M9IZvzw449dYh9787HPNr+2yfMxMzB++JiDW4vEjWRmyR6e5MQ2nmPJs3P7bhu2MTMwS87chseaG/kHJHgkmI3ZJHKMmXN7bjMCtbAx8+LRIg+05ecfg3pjNvn3n5kte27bE9RicCOZTZon4bAcmwQPMzPDj9uJBLUYnnnMZi1z4LgcG0+aMWNvw+3kNmbGZrx+kTuezHzzzZ9qHvn2w48Zfvy5bTu/vfngh4/4vI8CGNvAZAOx6kHgDymKR8EoGAWjYKQAAM/XSI9oVqchAAAAAElFTkSuQmCC","orcid":"","institution":"Haluoleo University","correspondingAuthor":true,"prefix":"","firstName":"Syamsul","middleName":"Bachri","lastName":"Soamole","suffix":""}],"badges":[],"createdAt":"2025-07-25 02:53:08","currentVersionCode":1,"declarations":"","doi":"10.21203/rs.3.rs-7209704/v1","doiUrl":"https://doi.org/10.21203/rs.3.rs-7209704/v1","draftVersion":[],"editorialEvents":[],"editorialNote":"","failedWorkflow":false,"files":[{"id":87897784,"identity":"d90010ce-715f-4308-9a5a-263e50e308a8","added_by":"auto","created_at":"2025-07-30 07:52:20","extension":"jpg","order_by":1,"title":"Figure 1","display":"","copyAsset":false,"role":"figure","size":42252,"visible":true,"origin":"","legend":"\u003cp\u003e\u003cstrong\u003eIntegrated Model of Financial Management in Culinary MSMEs\u003c/strong\u003e\u003c/p\u003e","description":"","filename":"1.jpg","url":"https://assets-eu.researchsquare.com/files/rs-7209704/v1/803941bdafc7e374816a7277.jpg"},{"id":87901289,"identity":"99faf914-f9aa-4a6b-aa33-a28eada51c4a","added_by":"auto","created_at":"2025-07-30 08:16:28","extension":"pdf","order_by":0,"title":"","display":"","copyAsset":false,"role":"manuscript-pdf","size":1987458,"visible":true,"origin":"","legend":"","description":"","filename":"manuscript.pdf","url":"https://assets-eu.researchsquare.com/files/rs-7209704/v1/39bec723-b1da-4a84-a31c-2b6533fd2f10.pdf"},{"id":87897783,"identity":"cd9d4342-628b-47a6-afb9-d53313d5b1e9","added_by":"auto","created_at":"2025-07-30 07:52:20","extension":"docx","order_by":1,"title":"","display":"","copyAsset":false,"role":"supplement","size":19871,"visible":true,"origin":"","legend":"","description":"","filename":"NVivoCodingReport.docx","url":"https://assets-eu.researchsquare.com/files/rs-7209704/v1/28a64983b55437afe28ddfe6.docx"}],"financialInterests":"No competing interests reported.","formattedTitle":"Enhancing Culinary MSME Sustainability: The Role of an Integrated Model of Financial Self-Efficacy, Technology Adoption, and Community Based Mentoring in Indonesia's Digital Era","fulltext":[{"header":"1. INTRODUCTION","content":"\u003cp\u003eMicro, Small, and Medium Enterprises (MSMEs) form the foundation of Indonesia\u0026rsquo;s economic landscape, contributing approximately 61% to the national Gross Domestic Product (GDP) and providing employment to nearly 97% of the labor force (BPS, 2023). Among these, the culinary sector plays a particularly vital role, contributing 6.5% to the national GDP in 2023 and employing 9.8 million individuals representing a significant 20.48% increase from 2016 (Kemenparekraf, 2023). This notable growth trajectory underscores the strategic importance of culinary MSMEs as key engines of economic development, employment generation, and poverty reduction.\u003c/p\u003e\n\u003cp\u003eNevertheless, despite their critical economic significance, culinary MSMEs face mounting challenges in adapting to the complexities of the digital era. The sector\u0026rsquo;s inherent vulnerabilities including high operational costs, fierce price based competition, and limited profit margins necessitate advanced financial management competencies. These include effective cash, cost control, and informed investment decision making (Bai, 2023; Dewi \u0026amp; Setiyono, 2022). However, empirical findings indicate a persistent disconnect between the sector\u0026rsquo;s financial management demands and the actual practices employed by many MSME operators.\u003c/p\u003e\n\u003cp\u003e(Shinozaki \u0026amp; Rao, 2021; Lestari et al., 2025) report that approximately 65% of culinary MSMEs in Indonesia fail within their first five years of operation, with inadequate financial management cited as the primary contributing factor. This troubling statistic reflects deeper structural challenges, including poor financial record keeping, misappropriation of funds, overreliance on informal financing channels, and widespread deficiencies in financial literacy among MSME owners (Dicky Perwira Ompusunggu \u0026amp; Melya Nanda, 2023; Wijaya et al., 2024). These challenges are compounded by limited access to formal financial training and persistently low levels of digital financial system adoption.\u003c/p\u003e\n\u003cp\u003eComparative data further underscore this issue: only 23% of Indonesian culinary MSMEs currently utilize digital financial tools, a figure significantly lower than those of neighboring ASEAN countries such as Thailand (47%) and Malaysia (51%) (Johri et al., 2024). This substantial digital adoption gap poses a serious threat to the competitive standing of Indonesian MSMEs within the regional market particularly as global economic systems increasingly pivot toward digital first models, a trend accelerated by the post COVID-19 transformation.\u003c/p\u003e\n\u003cp\u003eGiven the complexity of these challenges, addressing them requires a multidimensional approach that extends beyond conventional financial management frameworks. While prior research has largely concentrated on technical financial competencies or isolated analyses of technology adoption, there remains a notable gap in the literature regarding the integrated influence of technological, psychological, and social dimensions on financial management effectiveness within the MSME context.\u003c/p\u003e\n\u003cp\u003eThis study aims to address the identified research gap by developing and empirically examining an integrated framework that incorporates three interrelated, yet previously underexplored, dimensions: (1) adaptive digital financial technologies tailored specifically to the operational realities of culinary MSMEs; (2) psychological determinants such as financial self efficacy and behavioral attitudes that shape the quality of financial decision making; and (3) community based mentoring models as sustainable and context-sensitive alternatives to traditional top-down training mechanisms.\u003c/p\u003e\n\u003cp\u003eWhile much research (Adhikara, 2018; Rumijati \u0026amp; Rahman Hakim, 2023; Priyaadarshini \u0026amp; Jena, 2024) has addressed technology adoption or financial literacy independently, a comprehensive framework holistically integrating the roles of financial self efficacy, digital technology acceptance, and community based mentoring in shaping MSME financial management practices is lacking. Existing studies tend to focus on large corporations or formal sectors, leaving a significant gap in our understanding of financial dynamics at the MSME level, particularly within emerging economies like Indonesia, which are dominated by culinary MSMEs. This study aims to fill this gap by proposing and testing an integrated model that explains how psychological, technological, and social factors interactively influence MSMEs\u0026apos; ability to manage their finances effectively and sustainably in the digital era.\u003c/p\u003e\n\u003cp\u003eThe study is guided by three core research objectives: first, to conduct a comprehensive analysis of the extent to which current financial management practices influence the success and long-term viability of culinary MSMEs within Indonesia\u0026rsquo;s digital economy; second, to identify and critically assess the key technological, psychological, and social factors that contribute to business sustainability; and third, to design and validate an integrated financial management model that is congruent with the unique operational, socio cultural, and institutional contexts of Indonesian culinary entrepreneurs.\u003c/p\u003e\n\u003cp\u003eThe contributions of this research are twofold. From a theoretical perspective, the study advances MSME scholarship by integrating elements from the Technology Acceptance Model (TAM), Self-Efficacy Theory, and Community Based Learning Theory into a unified conceptual framework. From a practical standpoint, it offers evidence-based insights for policymakers, financial service providers, and MSME development practitioners aimed at strengthening financial management competencies and fostering resilience among culinary MSMEs.\u003c/p\u003e"},{"header":"2.\tLITERATURE REVIEW","content":"\u003cp\u003e\u003cstrong\u003eA.\u0026nbsp; \u0026nbsp;Financial Management in MSMEs: Current State and Challenges\u003c/strong\u003e\u003c/p\u003e\n\u003cp\u003eFinancial management within the MSME sector has been widely examined across diverse economic and geographical contexts, consistently revealing a range of persistent challenges alongside potential areas for improvement. According to (Adomako et al., 2019), sound financial management practices encompassing cash flow oversight, financial planning, investment appraisal, and risk mitigation form the bedrock of MSME sustainability. Nevertheless, empirical research continues to highlight a considerable disconnect between theoretical best practices and their real world implementation.\u003c/p\u003e\n\u003cp\u003e(Beck \u0026amp; Demirguc-Kunt, 2006), in a large scale study involving 2,847 MSMEs across developing economies, reported that 68% of these enterprises lacked even basic bookkeeping systems, 73% failed to produce regular financial statements, and 81% remained reliant on internal financing due to restricted access to formal credit mechanisms. These findings mirror regional trends within Southeast Asia, as evidenced by (Nguyen \u0026amp; Tran, 2025), who identified comparable financial management deficiencies among MSMEs in Vietnam and Thailand.\u003c/p\u003e\n\u003cp\u003eIn the Indonesian context, a number of studies have underscored similar obstacles. (Tambunan, 2019) revealed that 79% of Indonesian MSMEs operate without formalized financial management structures, instead relying on rudimentary, informal methods of record keeping that fall short of supporting strategic financial decision-making. Likewise, (Utami et al., 2021) pinpointed low levels of financial literacy as a central barrier, noting that only 32% of MSME proprietors possessed adequate knowledge of fundamental financial concepts, including cash flow management, profit margin calculation, and return on investment.\u003c/p\u003e\n\u003cp\u003eThe culinary subsector introduces an added layer of complexity, attributable to its distinct operational characteristics. Food related enterprises are typically marked by high inventory turnover, seasonal variability in demand, and diversified revenue streams (dine in, takeaway, delivery), all of which impose intricate financial management demands (Utami et al., 2021). (Fitriyah et al., 2023) further argue that culinary MSMEs require advanced cost accounting systems capable of accurately tracking food expenditures, labor costs, and overhead allocations capacities that many small business owners currently lack.\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003eB.\u0026nbsp; \u0026nbsp;Digital Transformation in MSME Financial Management\u003c/strong\u003e\u003c/p\u003e\n\u003cp\u003eThe digital transformation of financial management represents a fundamental shift with profound implications for the sustainability of Micro, Small, and Medium Enterprises (MSMEs). (Guo et al., 2024) conceptualize this shift as the systematic integration of digital technologies such as cloud based accounting platforms, mobile payment systems, and automated financial reporting tools into conventional financial management practices.\u003c/p\u003e\n\u003cp\u003eContemporary research indicates that digital financial technologies offer viable solutions to longstanding financial challenges faced by MSMEs. A longitudinal study by (Li et al., 2024), involving 1,200 Chinese MSMEs, revealed that the adoption of digital financial systems resulted in a 34% improvement in cash flow management, a 28% decline in financial errors, and a 42% increase in access to formal credit facilities. Complementary findings by (Sarawagi et al., 2024) demonstrated that Indian MSMEs utilizing digital accounting tools experienced 31% higher survival rates over a five-year period compared to counterparts relying on manual systems.\u003c/p\u003e\n\u003cp\u003eDespite these advantages, digital financial adoption remains critically low, particularly in developing economies. The Asian Development Bank's \u003cem\u003eDigital MSME Survey 2023\u003c/em\u003e reported that only 29% of MSMEs across Southeast Asia employ digital financial management tools, with Indonesia showing the lowest adoption rate at merely 23%. Key barriers impeding adoption include the perceived complexity of technological systems, financial constraints, limited digital literacy, and concerns over data security and privacy (Dwirini et al., 2025).\u003c/p\u003e\n\u003cp\u003eThe Technology Acceptance Model (TAM), originally proposed by (Davis, 1989) and later refined by (Venkatesh et al., 2003), offers a robust theoretical lens through which to examine technology adoption behavior. According to TAM, two primary factors perceived usefulness and perceived ease of use shape an individual’s intention to use new technology, with attitudes toward use acting as a mediating variable. Recent adaptations of TAM in the MSME context suggest the model’s expanded relevance. For instance, (Johri et al., 2024) found that social influence and enabling environmental conditions significantly influence the adoption of digital financial tools among small business owners.\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003eC.\u0026nbsp; \u0026nbsp;Psychological Factors in Financial Management\u003c/strong\u003e\u003c/p\u003e\n\u003cp\u003eEmerging scholarship increasingly acknowledges the pivotal role of psychological factors in shaping financial management effectiveness. One such factor, financial self efficacy defined as an individual’s belief in their capacity to successfully execute financial tasks has been consistently identified as a strong predictor of financial behavior (Farrell et al., 2016).\u003c/p\u003e\n\u003cp\u003eThe theoretical underpinning for this relationship is grounded in Bandura’s (1997) Self-Efficacy Theory, which posits that individuals with higher self efficacy are more likely to set ambitious goals, persevere in the face of obstacles, and develop adaptive strategies to overcome challenges. When applied to financial contexts, this translates into enhanced financial planning, increased discipline in saving and spending, and a greater propensity to seek professional financial advice when necessary.\u003c/p\u003e\n\u003cp\u003eEmpirical evidence supports these theoretical assertions. In a comprehensive study involving 387 Indonesian MSME owners, (Ibarrientos et al., 2024) identified a statistically significant positive correlation between financial self-efficacy and the quality of financial management practices (r = 0.550, p \u0026lt; 0.001). The study further revealed that entrepreneurs with high financial self-efficacy were 2.3 times more likely to maintain systematic financial records, 1.8 times more likely to distinguish between personal and business finances, and 2.7 times more likely to utilize formal financial planning instruments.\u003c/p\u003e\n\u003cp\u003eIn addition to self efficacy, prior financial trauma and negative financial experiences have been shown to influence financial behavior adversely. Research by (Ibarrientos et al., 2024) indicates that individuals with a history of financial failure often develop avoidance behaviors, resulting in suboptimal financial management. This phenomenon sometimes described as “financial PTSD” can severely hinder rational financial decision making and underscores the need for targeted psychological interventions to address its effects.\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003eD.\u0026nbsp; \u0026nbsp;Community based Learning and Mentoring Models\u003c/strong\u003e\u003c/p\u003e\n\u003cp\u003eConventional financial training programs for MSMEs typically adopt a top down, classroom oriented model that often fails to account for the contextual, cultural, and experiential factors that influence learning effectiveness. In contrast, community based learning models present a promising alternative, emphasizing peer engagement, social support mechanisms, and contextually relevant content to enhance learning outcomes and long term behavioral change.\u003c/p\u003e\n\u003cp\u003eThe theoretical foundation for this pedagogical shift is rooted in (Lave \u0026amp; Wenger, 1991) \u003cem\u003eCommunities of Practice\u003c/em\u003e theory, which conceptualizes learning as a socially embedded process that occurs through active participation in authentic, practice-based communities. According to this framework, individuals acquire knowledge most effectively through “legitimate peripheral participation,” wherein newcomers gradually become more central participants in shared practices. Applied to financial education for MSMEs, this perspective suggests that peer driven, experiential learning within entrepreneurial communities may yield superior outcomes compared to traditional instructor-led methodologies.\u003c/p\u003e\n\u003cp\u003eEmpirical findings substantiate this proposition. (OECD, 2024), in their evaluation of community based financial literacy initiatives across 15 rural South Korean communities, observed that participants engaged in peer learning groups exhibited 43% greater retention of financial knowledge and a 38% higher rate of practical implementation compared to those enrolled in conventional training programs. Similarly, (OECD, 2022) reported that MSMEs in Mexico who participated in community mentoring schemes experienced a 52% enhancement in financial management competencies within a six month timeframe.\u003c/p\u003e\n\u003cp\u003eThe success of community based models appears to be driven by several interrelated factors, including cultural resonance, peer accountability, practical and iterative learning opportunities, and the reinforcement provided by sustained community interactions (Tisdell et al., 2013). Nevertheless, effective implementation necessitates careful attention to group cohesion, the training of facilitators, and the development of structured, scalable program designs.\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003eE.\u0026nbsp; \u0026nbsp;\u0026nbsp;Research Gaps and Theoretical Framework Development\u003c/strong\u003e\u003c/p\u003e\n\u003cp\u003eDespite a substantial body of literature on financial management within MSMEs, several notable research gaps persist. Firstly, existing studies predominantly investigate technological, psychological, and social determinants in isolation, lacking comprehensive models that account for the dynamic interplay among these dimensions. Secondly, there remains a scarcity of research explicitly focusing on culinary MSMEs a subsector with distinct operational challenges that necessitate tailored financial management strategies. Thirdly, empirical investigations of community-based mentoring interventions within the Indonesian context are limited, despite the potential moderating influence of cultural norms and social learning dynamics on program effectiveness.\u003c/p\u003e\n\u003cp\u003eThe development of the integrated model in this research stems from the need to understand the complex phenomenon of MSME financial management, which cannot be adequately explained by a single theory alone. The Technology Acceptance Model (TAM) provides a lens for understanding the adoption of digital financial tools; however, successful adoption not only depends on perceived usefulness and ease of use but also on an individual's belief in their own capability (financial self efficacy). Furthermore, in the context of MSMEs in developing countries, the social environment and collective support (community based learning) play a vital role in facilitating transfer of knowledge and behavioral change. Therefore, this study proposes that the synergy among technological understanding (TAM), self-belief (Self Efficacy), and social support (Community Based Learning) is key to explaining the adoption of improved financial management practices and enhanced sustainability of culinary MSMEs. This framework is specifically designed to capture the dynamic interactions between individual, technological, and social dimensions within the operational context of MSMEs.\u003c/p\u003e"},{"header":"3.\tTHEORETICAL FRAMEWORK","content":"\u003cp\u003e\u003cstrong\u003eA.\u0026nbsp; Integrated Model Development\u003c/strong\u003e\u003c/p\u003e\n\u003cp\u003eThis study advances an integrated theoretical framework that synthesizes three well established models namely, the Technology Acceptance Model (TAM), Self Efficacy Theory, and Community Based Learning Theory to explain the determinants of effective financial management in culinary MSMEs (Lviv Polytechnic National University et al., 2021). The framework posits that financial management effectiveness emerges from the synergistic interaction of technological adoption, psychological readiness, and social support systems.\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003eTechnological Dimension:\u003c/strong\u003e Grounded in TAM, the model posits that the adoption of digital financial tools by MSME owners is primarily driven by two cognitive evaluations: perceived usefulness defined as the extent to which individuals believe that digital tools enhance the effectiveness of financial management and perceived ease of use the degree to which digital tools are considered user-friendly and require minimal effort. These perceptions are shaped by a constellation of factors, including system interface design, users\u0026rsquo; digital literacy levels, and contextual variables specific to the culinary sector.\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003ePsychological Dimension:\u003c/strong\u003e Integrating insights from Self Efficacy Theory, the framework identifies financial self-efficacy as a pivotal mediating construct between technology acceptance and actual financial management behavior. MSME owners with high levels of financial self efficacy are more likely to not only adopt digital financial tools but also demonstrate sustained engagement and implementation, thereby enhancing financial decision-making and control.\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003eSocial Dimension:\u003c/strong\u003e Informed by Community Based Learning Theory, the model underscores the role of social learning environments particularly peer networks and mentoring relationships as critical enablers of both technology acceptance and self-efficacy development. Community based interventions foster experiential, context sensitive learning and offer emotional and motivational support mechanisms that are often absent in conventional, top down training programs. These social structures reinforce learning through shared experiences and continuous feedback, making them particularly effective for MSMEs embedded in culturally nuanced entrepreneurial ecosystems.\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003eB. Conceptual Model and Propositions\u003c/strong\u003e\u003c/p\u003e\n\u003cp\u003eBased on the integrated framework, we develop the following propositions:\u003c/p\u003e\n\u003cp\u003eThis figure illustrates the proposed conceptual framework that integrates three dimensions technology adoption, financial self efficacy, and peer based mentoring into a unified model aimed at enhancing financial management practices and sustainability in culinary MSMEs.\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003eP1:\u003c/strong\u003e Digital financial tool adoption in culinary MSMEs is positively influenced by perceived usefulness and perceived ease of use, consistent with TAM predictions.\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003eP2:\u003c/strong\u003e Financial self efficacy mediates the relationship between technology acceptance and financial management effectiveness.\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003eP3:\u003c/strong\u003e Community based mentoring enhances both digital tool adoption and financial self efficacy through peer learning and social support mechanisms.\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003eP4:\u003c/strong\u003e The integration of technological, psychological, and social interventions produces synergistic effects that exceed the sum of individual interventions.\u003c/p\u003e"},{"header":"4.\tMETHODOLOGY","content":"\u003cp\u003e\u003cstrong\u003eA. Research Design and Philosophical Approach\u003c/strong\u003e\u003c/p\u003e\n\u003cp\u003eThis study utilizes a descriptive qualitative design grounded in an exploratory case study methodology to examine the intricate dynamics of financial management among culinary MSMEs operating within Indonesia\u0026rsquo;s digital era. The qualitative approach is particularly appropriate given the need for an in depth understanding of the contextual, cultural, and behavioral factors that shape financial management practices dimensions that quantitative methods may insufficiently capture.\u003c/p\u003e\n\u003cp\u003eAdopting a constructivist-interpretivist epistemological stance, the research acknowledges that financial management behaviors are socially constructed and highly context specific. This perspective facilitates a rich exploration of the subjective experiences, perceptions, and meanings that MSME owners associate with their financial management activities, adoption of digital technologies, and engagement in community based learning processes.\u003c/p\u003e\n\u003cp\u003eMoreover, elements of grounded theory methodology are integrated to support the inductive development of theoretical insights through rigorous and systematic data analysis. This approach enables the formulation of an integrated conceptual framework that emerges directly from empirical evidence rather than being predetermined.\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003eB.\u0026nbsp; Research Setting and Context\u003c/strong\u003e\u003c/p\u003e\n\u003cp\u003eThe study was carried out across three prominent Indonesian cities Jakarta, Bandung, and Surabaya chosen based on their substantial concentrations of culinary MSMEs, diverse economic landscapes, and differing stages of digital infrastructure development. Jakarta, as the nation\u0026rsquo;s capital, exemplifies a highly advanced digital ecosystem; Bandung serves as a secondary city characterized by growing digital adoption; while Surabaya functions as a major regional hub where traditional and digital business practices coexist, offering a heterogeneous environment for investigating financial management dynamics.\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003eC. \u0026nbsp; Participant Selection and Sampling Strategy\u003c/strong\u003e\u003c/p\u003e\n\u003cp\u003eParticipants were recruited through purposive sampling employing a maximum variation strategy to capture a broad spectrum of characteristics across key dimensions, including business scale (micro, small, medium), levels of technology adoption (low, moderate, high), financial literacy proficiency, business tenure, and gender. The selection criteria comprised the following:\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003eInclusion criteria:\u003c/strong\u003e\u003c/p\u003e\n\u003cul\u003e\n \u003cli\u003eCulinary MSME owners with minimum 2 years operating experience\u003c/li\u003e\n \u003cli\u003eBusinesses with annual revenue between IDR 50 million - 2.5 billion\u003c/li\u003e\n \u003cli\u003eOwners aged 25-55 years with decision-making authority\u003c/li\u003e\n \u003cli\u003eWillingness to participate in multiple data collection sessions\u003c/li\u003e\n\u003c/ul\u003e\n\u003cp\u003e\u003cstrong\u003eExclusion criteria:\u003c/strong\u003e\u003c/p\u003e\n\u003cul\u003e\n \u003cli\u003eFranchise operations with standardized financial systems\u003c/li\u003e\n \u003cli\u003eBusinesses primarily focused on catering to large corporations\u003c/li\u003e\n \u003cli\u003eSeasonal or temporary food vendors\u003c/li\u003e\n\u003c/ul\u003e\n\u003cp\u003eThe final sample comprised 15 culinary MSME owners (8 female, 7 male) with business ages ranging from 2-12 years. Additionally, 5 financial mentoring facilitators, 3 cooperative agency representatives, and 2 fintech provider representatives participated in focus group discussions.\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003eD. \u0026nbsp; Data Collection Methods\u003c/strong\u003e\u003c/p\u003e\n\u003cp\u003eData collection employed multiple methods to ensure comprehensive understanding and methodological triangulation:\u003c/p\u003e\n\u003cul\u003e\n \u003cli\u003e\u003cstrong\u003eIn-depth Semi-Structured Interviews\u003c/strong\u003e Fifteen individual interviews were conducted with MSME owners, each lasting 60-90 minutes. The interview guide covered five main themes: current financial management practices, technology adoption experiences, psychological factors influencing financial decisions, community and social support systems, and perceived barriers and facilitators.\u003c/li\u003e\n \u003cli\u003e\u003cstrong\u003eParticipant Observation\u003c/strong\u003e Direct observation of financial management activities was conducted in 8 businesses over 2-4 hour periods, focusing on daily financial routines, technology usage patterns, decision making processes, and interactions with customers and suppliers.\u003c/li\u003e\n \u003cli\u003e\u003cstrong\u003eDocumentation Analysis\u003c/strong\u003e Financial documents, digital transaction logs, training materials, and business records were analyzed where available and with participant consent. This provided objective data to complement interview and observation findings.\u003c/li\u003e\n \u003cli\u003e\u003cstrong\u003eFocus Group Discussions\u003c/strong\u003e Three focus group discussions were conducted: one with MSME owners (6 participants), one with financial mentoring facilitators (4 participants), and one with stakeholders including cooperative agencies and fintech providers (5 participants). Each session lasted 90-120 minutes and focused on community based learning experiences and systemic barriers to financial management improvement.\u003c/li\u003e\n\u003c/ul\u003e\n\u003cp\u003e\u003cstrong\u003eE. Data Analysis Approach\u003c/strong\u003e\u003c/p\u003e\n\u003cp\u003eData were analyzed using thematic analysis following (Miles and Huberman\u0026apos;s, 1994) framework involving data reduction, data display, and conclusion drawing/verification. The analysis process included:\u003c/p\u003e\n\u003cul\u003e\n \u003cli\u003e\u003cstrong\u003ePhase 1: Data Familiarization and Initial Coding\u003c/strong\u003e All interviews were transcribed verbatim in Indonesian and translated to English by bilingual researchers. Initial coding was conducted using both inductive and deductive approaches, with codes derived from both theoretical frameworks and emerging themes.\u003c/li\u003e\n \u003cli\u003e\u003cstrong\u003ePhase 2: Theme Development\u003c/strong\u003e Initial codes were grouped into potential themes through iterative analysis. The research team met regularly to discuss emerging themes, resolve discrepancies, and refine the coding framework.\u003c/li\u003e\n \u003cli\u003e\u003cstrong\u003ePhase 3: Theme Review and Refinement\u003c/strong\u003e Themes were reviewed against the original data to ensure accuracy and coherence. The final thematic framework comprised three main themes with multiple sub-themes.\u003c/li\u003e\n \u003cli\u003e\u003cstrong\u003ePhase 4: Cross Case Analysis\u003c/strong\u003e Comparative analysis across cases was conducted to identify patterns, variations, and relationships between themes.\u003c/li\u003e\n\u003c/ul\u003e\n\u003cp\u003e\u003cstrong\u003eF. Trustworthiness and Validity\u003c/strong\u003e\u003c/p\u003e\n\u003cp\u003eMultiple strategies were employed to enhance research trustworthiness:\u003c/p\u003e\n\u003cul\u003e\n \u003cli\u003e\u003cstrong\u003eCredibility:\u003c/strong\u003e Achieved through prolonged engagement, methodological triangulation, member checking with participants, and peer debriefing among research team members.\u003c/li\u003e\n \u003cli\u003e\u003cstrong\u003eTransferability:\u003c/strong\u003e Enhanced through thick description of contexts, participants, and findings to enable readers to assess applicability to other settings.\u003c/li\u003e\n \u003cli\u003e\u003cstrong\u003eDependability:\u003c/strong\u003e Ensured through systematic documentation of research procedures, maintaining an audit trail, and external auditing by experienced qualitative researchers.\u003c/li\u003e\n \u003cli\u003e\u003cstrong\u003eConfirmability:\u003c/strong\u003e Achieved through reflexive journaling, explicit acknowledgment of researcher biases, and systematic documentation of analytical decisions.\u003c/li\u003e\n\u003c/ul\u003e\n\u003cp\u003e\u003cstrong\u003eG.\u0026nbsp; Ethical Considerations\u003c/strong\u003e\u003c/p\u003e\n\u003cp\u003eThe research received ethical approval from the institutional review board. All participants provided informed consent, were assured of anonymity and confidentiality, and retained the right to withdraw without consequences. Data were stored securely and will be destroyed after the required retention period.\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003eH.\u0026nbsp; Research Limitations\u003c/strong\u003e\u003c/p\u003e\n\u003cp\u003eSeveral limitations should be acknowledged: (1) the qualitative approach limits statistical generalizability, though theoretical transferability remains possible; (2) self reported data may be subject to social desirability bias; (3) the cross-sectional design cannot establish causal relationships; (4) cultural and linguistic factors may influence data interpretation; and (5) the focus on culinary MSMEs may limit applicability to other MSME sectors.\u003c/p\u003e"},{"header":"5. RESULTS","content":"\u003cp\u003e\u003cstrong\u003eA. Participant Characteristics\u003c/strong\u003e\u003c/p\u003e\n\u003cp\u003eThe 15 participating culinary MSME owners represented diverse business profiles. Eight were female entrepreneurs (53%), with ages ranging from 27 to 54 years (mean = 38.2 years). Business ages varied from 2 to 12 years (mean = 6.4 years), with annual revenues spanning IDR 75 million to IDR 2.1 billion. Business types included traditional Indonesian cuisine (40%), fusion/modern cuisine (33%), beverages and snacks (20%), and catering services (7%).\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003eB. Theme 1: Financial Management Practices and Systemic Challenges\u003c/strong\u003e\u003c/p\u003e\n\u003cul\u003e\n \u003cli\u003e\u003cstrong\u003ePredominance of Manual Financial Management Systems\u003c/strong\u003e\u003c/li\u003e\n\u003c/ul\u003e\n\u003cp\u003eThe analysis revealed that 12 out of 15 respondents (80%) rely primarily on manual financial management systems, with most using basic notebooks or simple spreadsheets for record-keeping. The sophistication of these systems varies considerably, but most lack the structural elements necessary for effective financial analysis.\u003c/p\u003e\n\u003cp\u003eA Jakarta-based restaurant owner explained:\u003c/p\u003e\n\u003cp\u003e\u0026quot;I write everything in a small notebook daily sales, expenses for ingredients, staff payments. Sometimes I forget to write immediately, and at the end of the month, I try to remember what I spent. There\u0026apos;s no proper report, so it\u0026apos;s hard to know if I\u0026apos;m really making profit or just breaking even.\u0026quot;\u003c/p\u003e\n\u003cp\u003eOnly 3 respondents (20%) maintained structured financial records with regular profit and loss statements, and only 5 respondents (33%) prepared basic cash flow statements. This finding indicates a fundamental gap in financial management infrastructure that undermines strategic decision-making capabilities.\u003c/p\u003e\n\u003cul\u003e\n \u003cli\u003e\u003cstrong\u003eFailure to Separate Personal and Business Finances\u003c/strong\u003e\u003c/li\u003e\n\u003c/ul\u003e\n\u003cp\u003eA critical finding was that 11 respondents (73%) failed to maintain clear separation between personal and business finances. This practice creates multiple problems: inability to accurately assess business profitability, complications in tax preparation, and difficulties in accessing formal credit due to unclear financial statements.\u003c/p\u003e\n\u003cp\u003eA Bandung caf\u0026eacute; owner described the challenge:\u003c/p\u003e\n\u003cp\u003e\u0026quot;My business money and family money are mixed together. When I need to buy ingredients, sometimes I use personal money. When family needs something, I take from business income. At the end of the month, I don\u0026apos;t really know how much the business made.\u0026quot;\u003c/p\u003e\n\u003cp\u003eThis finding aligns with previous research but reveals the persistence of this problem despite increased awareness campaigns and training programs.\u003c/p\u003e\n\u003cul\u003e\n \u003cli\u003e\u003cstrong\u003eIntuition-Based Decision Making\u003c/strong\u003e\u003c/li\u003e\n\u003c/ul\u003e\n\u003cp\u003eThe majority of respondents (87%) make critical financial decisions including pricing, inventory purchasing, and capacity expansion based primarily on intuition and experience rather than systematic financial analysis. While experiential knowledge has value, the lack of data-driven decision-making limits optimization opportunities and increases business risks.\u003c/p\u003e\n\u003cp\u003eA Surabaya food truck owner stated:\u003c/p\u003e\n\u003cp\u003e\u0026quot;I set prices based on what feels right and what competitors charge. I don\u0026apos;t calculate exactly how much each dish costs to make. If sales are good, I assume I\u0026apos;m making profit. If sales are bad, I know I\u0026apos;m losing money. That\u0026apos;s my financial analysis.\u0026quot;\u003c/p\u003e\n\u003cul\u003e\n \u003cli\u003e\u003cstrong\u003eLimited Access to Formal Financing\u003c/strong\u003e\u003c/li\u003e\n\u003c/ul\u003e\n\u003cp\u003eNine respondents (60%) have never applied for formal bank loans, primarily due to lack of proper financial documentation. Those who have applied often face rejection or unfavorable terms due to inadequate financial records. This creates a vicious cycle where poor financial management leads to limited access to capital, which in turn constrains business growth and improvement opportunities.\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003eC. Theme 2: Psychological Factors Influencing Financial Management\u003c/strong\u003e\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003ea. Financial Self efficacy as a Critical Determinant\u003c/strong\u003e\u003c/p\u003e\n\u003cp\u003eThe analysis revealed significant variation in financial self efficacy among respondents, with profound implications for financial management practices. Six respondents (40%) demonstrated high financial self efficacy, characterized by confidence in their ability to manage business finances, willingness to learn new financial concepts, and persistence in implementing systematic financial practices.\u003c/p\u003e\n\u003cp\u003eA high self efficacy respondent from Bandung shared:\u003c/p\u003e\n\u003cp\u003e\u0026quot;After attending financial training, I felt more confident managing my business finances. I started tracking income and expenses daily using a simple app. Now I can see patterns which days are profitable, which menu items have better margins. This helps me make better decisions about inventory and pricing.\u0026quot;\u003c/p\u003e\n\u003cp\u003eThese high self efficacy individuals consistently demonstrated superior financial practices: 100% maintained some form of regular financial records, 83% used digital tools for at least basic record keeping, and 67% prepared monthly financial summaries.\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003eb. Financial Trauma and Avoidance Behaviors\u003c/strong\u003e\u003c/p\u003e\n\u003cp\u003eConversely, 4 respondents (27%) exhibited clear signs of financial trauma stemming from previous business failures or negative financial experiences. These individuals demonstrated avoidance behaviors that significantly impeded effective financial management.\u003c/p\u003e\n\u003cp\u003eOne respondent who experienced previous business failure explained:\u003c/p\u003e\n\u003cp\u003e\u0026quot;After my first business failed three years ago, I became afraid to deal with numbers and financial records. Even thinking about profit and loss makes me anxious. I know it\u0026apos;s important, but I just can\u0026apos;t bring myself to do detailed financial analysis. I prefer to focus on cooking and serving customers.\u0026quot;\u003c/p\u003e\n\u003cp\u003eThis finding highlights an underexplored dimension of MSME financial management the psychological barriers that prevent business owners from engaging with financial management tasks even when they understand their importance.\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003ec. Relationship Between Self efficacy and Technology Adoption\u003c/strong\u003e\u003c/p\u003e\n\u003cp\u003eA robust positive correlation was identified between financial self efficacy and the propensity to adopt digital financial tools. Notably, all six participants exhibiting high financial self efficacy had actively engaged with digital financial applications, whereas only one out of four participants with low self-efficacy had attempted to utilize such tools. Individuals with high self efficacy regarded technology as an empowering resource that could improve their financial management capabilities. In contrast, those with low self efficacy perceived technology as an additional source of complexity, which exacerbated their anxiety surrounding financial management tasks.\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003eD. Theme 3: Digital Technology Adoption and Community based Mentoring\u003c/strong\u003e\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003ea. Low Digital Adoption Despite Availability\u003c/strong\u003e\u003c/p\u003e\n\u003cp\u003eOnly 4 respondents (27%) regularly used digital financial management tools, despite widespread availability of affordable applications designed for small businesses. This low adoption rate reflects multiple interconnected barriers rather than simple technological constraints.\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003eb. Barriers to Digital Adoption\u003c/strong\u003e\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003eLack of Digital Literacy (60% of respondents):\u003c/strong\u003e Many respondents lacked basic digital skills necessary to effectively use financial management applications. A Surabaya restaurant owner explained:\u003c/p\u003e\n\u003cp\u003e\u0026quot;I downloaded a financial app that someone recommended, but I don\u0026apos;t fully understand how to use it. The features are confusing, and I\u0026apos;m afraid of entering wrong information. It\u0026apos;s easier to stick with my notebook, even though I know it\u0026apos;s not ideal.\u0026quot;\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003eFeature-Context Mismatch (53% of respondents):\u003c/strong\u003e Available applications often failed to match the specific needs and contexts of culinary businesses. Many apps were designed for general retail businesses and lacked features relevant to food service operations such as recipe costing, ingredient tracking, and seasonal menu management.\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003eSecurity and Data Loss Concerns (47% of respondents):\u003c/strong\u003e Fears about data security, application reliability, and potential data loss created significant barriers to adoption, particularly among older business owners with limited technology experience.\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003ec. Exceptional Effectiveness of Community based Mentoring\u003c/strong\u003e\u003c/p\u003e\n\u003cp\u003eThe most striking finding was the remarkable effectiveness of community based mentoring programs observed in Bandung. A pilot program involving 7 MSME owners achieved extraordinary results: 6 participants (86%) successfully implemented basic digital record keeping systems and demonstrated improved cash flow understanding within three months.\u003c/p\u003e\n\u003cp\u003eThe program\u0026apos;s success appeared to stem from several key factors:\u003c/p\u003e\n\u003cul\u003e\n \u003cli\u003e\u003cstrong\u003ePeer Learning Environment:\u003c/strong\u003e Participants learned alongside peers facing similar challenges, creating a supportive environment that reduced anxiety and increased engagement.\u003c/li\u003e\n \u003cli\u003e\u003cstrong\u003eContextual Relevance:\u003c/strong\u003e Training content was specifically tailored to culinary business contexts, using familiar examples and addressing common industry challenges.\u003c/li\u003e\n \u003cli\u003e\u003cstrong\u003eOngoing Support:\u003c/strong\u003e Unlike traditional one-time training sessions, the mentoring program provided ongoing support through regular group meetings and individual consultations.\u003c/li\u003e\n \u003cli\u003e\u003cstrong\u003eSocial Accountability:\u003c/strong\u003e Group dynamics created positive peer pressure that encouraged continued engagement and implementation.\u003c/li\u003e\n\u003c/ul\u003e\n\u003cp\u003eA program participant shared:\u003c/p\u003e\n\u003cp\u003e\u0026quot;Learning with other food business owners made a huge difference. We shared similar problems, so the solutions made sense. Having a mentor who understood our business and peers who encouraged me helped me stick with the new system. Now I can\u0026apos;t imagine running my business without proper financial records.\u0026quot;\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003ed. Comparison with Traditional Training Approaches\u003c/strong\u003e\u003c/p\u003e\n\u003cp\u003eParticipants who had previously attended traditional financial training programs consistently reported that community based mentoring was more effective. Traditional programs were described as too theoretical, lacking practical application opportunities, and failing to provide ongoing support for implementation.\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003eE. Cross Case Analysis: Integration of Findings\u003c/strong\u003e\u003c/p\u003e\n\u003cp\u003eThe cross case analysis uncovered intricate interactions among the three primary themes. Participants with high financial self efficacy were more inclined to adopt digital financial tools and actively engage in community based learning initiatives. In contrast, individuals experiencing financial trauma or exhibiting low self efficacy demonstrated resistance to both digital technology adoption and conventional training programs.\u003c/p\u003e\n\u003cp\u003eThe community based mentoring model effectively addressed multiple challenges concurrently by improving digital literacy, fostering financial self efficacy, and offering sustained social support. This multidimensional strategy generated synergistic effects that surpassed the impact of isolated interventions.\u003c/p\u003e\n\u003cp\u003eNonetheless, the findings also indicated variability in receptiveness to community based approaches, influenced by individual personality traits, prior experiences with group settings, and available time commitment, which in turn affected participation levels and program outcomes.\u003c/p\u003e"},{"header":"6. DISCUSSION","content":"\u003cp\u003e\u003cstrong\u003eA. Financial Management Deficiencies: Persistent Challenges in Digital Era\u0026nbsp;\u003c/strong\u003e\u003c/p\u003e\n\u003cp\u003e\u003c/p\u003e\n\u003cp\u003eThe finding that 80% of respondents rely on manual financial management systems, coupled with 73% not separating personal and business finances, not only corroborates but also expands upon prior studies, highlighting the ongoing prevalence of fundamental financial management challenges despite heightened awareness and training initiatives. This enduring issue suggests that conventional strategies aimed at enhancing MSME financial management may be insufficient or misaligned with the practical realities and constraints faced by entrepreneurs. The pervasive reliance on manual financial management and the failure to separate personal from business finances illustrate a fundamental challenge that runs deeper than mere financial literacy. It underscores an urgent need for interventions focused on behavioral change and financial discipline, rather than solely on tool provision. Contrary to traditional views emphasizing a lack of knowledge, our findings suggest that a primary impediment may lie in an unwillingness to change and the absence of simple yet effective internal control structures. This has significant implications for MSME viability and their ability to access formal funding, as a lack of transparency complicates risk assessment by financial institutions.\u003c/p\u003e\n\u003cp\u003eBeyond these systemic issues, the dominance of intuition based decision making, evident in 87% of participants, aligns with (Kr\u0026auml;mer, 2014), concept of System 1 thinking fast, automatic, and experiential rather than the deliberate and analytical System 2 thinking necessary for sound financial management. While such cognitive processing may be advantageous in many business scenarios, it becomes detrimental when applied to complex financial decisions requiring systematic evaluation.\u003c/p\u003e\n\u003cp\u003eOur results extend the findings of (Utami et al., 2021) by revealing that financial literacy gaps persist even among MSME owners who have undergone formal financial training. This indicates that knowledge acquisition alone is insufficient; successful interventions must also overcome implementation barriers, motivational factors, and contextual limitations that hinder the practical application of financial knowledge.\u003c/p\u003e\n\u003cp\u003eFurthermore, limited access to formal financing, reported by 60% of respondents, perpetuates a vicious cycle of financial management inadequacy. Inadequate financial records contribute to credit rejections, restricting access to capital essential for business expansion and system enhancements. This supports (Beck \u0026amp; Demirguc-Kunt, 2006) assertion that financial management skills and access to finance are interdependent challenges rather than sequential issues.\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003eB. Psychological Dimensions: The Critical Role of Financial Self Efficacy\u0026nbsp;\u003c/strong\u003e\u003c/p\u003e\n\u003cp\u003eThe identification of financial self efficacy as a pivotal factor influencing the effectiveness of financial management marks a notable advancement in MSME research. The observation that 40% of respondents exhibiting high financial self efficacy consistently practiced superior financial management lends empirical validation to (Bandura\u0026rsquo;s, 1997) in (Veselinovic et al., 2022) theoretical framework within the specific realm of small business financial behavior. The strong link between high financial self efficacy and the adoption of digital tools and better financial practices underscores the critical importance of psychological dimensions in MSME management. This finding extends the existing literature on self efficacy by demonstrating its crucial role in the context of digital transition and financial behavioral adaptation. This implies that digital training or support programs must not only focus on \u0026apos;how\u0026apos; to use tools, but also on building MSMEs\u0026apos; self belief in their ability to manage finances digitally and overcome past \u0026apos;financial trauma\u0026apos;. This is a significant contribution to the development of more holistic training curricula for MSME entrepreneurs.\u003c/p\u003e\n\u003cp\u003eMore critically, the detection of financial trauma and avoidance behaviors among 27% of participants introduces an often overlooked psychological dimension that may underlie the persistence of suboptimal financial management despite the availability of training and resources. This insight builds on (Fitriyah et al., 2023) by highlighting psychological barriers that conventional financial training programs have yet to adequately address.\u003c/p\u003e\n\u003cp\u003eThe study\u0026rsquo;s identification of \u0026ldquo;financial PTSD,\u0026rdquo; where prior adverse financial experiences foster enduring avoidance behaviors, offers an explanation for why certain business owners resist improvements in financial management despite recognizing their importance. Addressing this psychological barrier may require therapeutic or counseling interventions rather than traditional financial training approaches.\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003eC. Digital Adoption Paradox: Low Adoption Despite High Potential\u0026nbsp;\u003c/strong\u003e\u003c/p\u003e\n\u003cp\u003eThe discovery that only 27% of respondents consistently utilize digital financial tools despite their widespread availability and recognized advantages illustrates what we describe as the \u0026quot;digital adoption paradox\u0026quot; within MSME settings. This paradox cannot be fully accounted for by technological limitations or cost concerns alone, given that many relevant applications are accessible at minimal or no cost.\u003c/p\u003e\n\u003cp\u003eOur findings indicate that the primary obstacles to digital adoption are rooted in human factors rather than purely technological issues. Specifically, 60% of respondents identified a lack of digital literacy as a barrier, 53% reported that the features of existing tools do not align well with their specific business contexts, and 47% expressed apprehensions about data security. These results underscore the necessity for human-centered design approaches that focus on enhancing user experience, ensuring contextual relevance, and fostering trust.\u003c/p\u003e\n\u003cp\u003eThe issue of feature context mismatch is especially critical, as it highlights that most financial management applications are not adequately tailored to the distinct needs of culinary MSMEs. Such businesses require specialized functions to manage recipe costing, seasonal menu variations, diverse revenue streams, and perishable inventory requirements that generic business software typically fails to address effectively.\u003c/p\u003e\n\u003cp\u003eThis evidence supports (Venkatesh et al., 2003) extended Technology Acceptance Model, which stresses the role of facilitating conditions and social influence in technology uptake. Nonetheless, our analysis suggests that psychological factors particularly financial self efficacy may be as influential, if not more so, than traditional TAM constructs in shaping successful digital adoption.\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003eD. Community-based Mentoring: A Paradigm Shift in MSME Training\u0026nbsp;\u003c/strong\u003e\u003c/p\u003e\n\u003cp\u003eThe remarkably high implementation success rate of 86% observed in community based mentoring programs compared to the typical 15\u0026ndash;25% success rates reported for conventional training constitutes one of the most significant practical contributions of this study. This outcome indicates that community based approaches may represent a transformative shift in the development of financial management competencies among MSMEs. The significant effectiveness of community-based mentoring programs in enhancing cash flow understanding and financial discipline offers a potent and sustainable intervention model for MSME development. Unlike \u0026apos;top-down\u0026apos; approaches, this community based model leverages social trust and peer learning, proving more effective in the MSME context where skepticism towards external interventions is common. This finding reaffirms the value of a socio-cultural approach to financial education and demonstrates that investing in community support networks can be a highly effective strategy to enhance MSME financial management capacity, which in turn will support their long-term business sustainability.\u003c/p\u003e\n\u003cp\u003eThe effectiveness of these programs appears to derive from their simultaneous engagement with multiple dimensions: cognitive (acquisition of financial knowledge), behavioral (application of new practices), social (peer support and accountability), and emotional (enhancement of confidence and reduction of anxiety). Such a multidimensional framework aligns closely with adult learning theories that emphasize experiential, social, and contextually grounded learning processes.\u003c/p\u003e\n\u003cp\u003eFurthermore, the demonstrated superiority of peer-led learning over expert driven instruction lends empirical support to (Lave \u0026amp; Wenger, 1991) Communities of Practice theory, which asserts that learning is most effective when it occurs through legitimate peripheral participation within authentic social settings. The culinary MSME environment provides this contextual authenticity, as entrepreneurs encounter shared challenges and derive meaningful insights through mutual experience exchange.\u003c/p\u003e\n\u003cp\u003eAdditionally, the study finds that community-based mentoring not only addresses psychological barriers by fostering financial self efficacy but also enhances technical competencies related to digital financial tools. This dual impact generates synergistic benefits unattainable through traditional training modalities, fostering a sustainable learning ecosystem rather than episodic instructional events.\u003c/p\u003e\n\u003cp\u003eHowever, findings also indicate that the efficacy of community-based approaches is not uniform across all participants. Individual differences including personality traits, availability of time, and prior experience in group settings affect engagement levels and learning outcomes. These variations underscore the need for tailored program design, with careful consideration of group dynamics, facilitation methods, and personalized needs assessments to optimize effectiveness.\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003eE. Theoretical Contributions: An Integrated Framework\u0026nbsp;\u003c/strong\u003e\u003c/p\u003e\n\u003cp\u003eTheoretically, this study provides a substantial contribution by developing and validating an integrated framework that combines the Technology Acceptance Model (TAM), Self Efficacy Theory, and Community Based Learning Theory. This integration uniquely explains the complex interplay between psychological, technological, and social factors that shape MSME financial management practices. It expands our understanding of how these theories complement each other to predict the adoption and sustainability of financial behaviors, particularly in the underexplored context of MSMEs in previous literature.\u003c/p\u003e\n\u003cp\u003eThe proposed model reveals that technology adoption cannot be fully explained by TAM constructs perceived usefulness and perceived ease of use without incorporating psychological readiness, specifically financial self efficacy, and social support mechanisms inherent in community-based learning. This insight advances the existing body of technology adoption literature by emphasizing the critical influence of psychological and social factors as prerequisites for effective digital transformation.\u003c/p\u003e\n\u003cp\u003eMoreover, the framework identifies financial self efficacy not only as a direct determinant of financial management effectiveness but also as a moderator enhancing the impact of technology adoption. This dual function implies that strategies aimed at boosting self efficacy could yield multiplicative benefits rather than merely additive improvements.\u003c/p\u003e\n\u003cp\u003eFinally, the model demonstrates that community-based learning interventions address multiple challenges simultaneously technical competence, psychological preparedness, and social support thereby generating synergistic outcomes that surpass the cumulative effects of isolated interventions.\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003eF. Practical Implications for Stakeholders\u0026nbsp;\u003c/strong\u003e\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003e1. Implications for Policymakers\u0026nbsp;\u003c/strong\u003e\u003c/p\u003e\n\u003cp\u003eThe findings indicate that existing MSME development policies may fall short in tackling the fundamental causes of financial management shortcomings. Conventional strategies that emphasize formal training and technology provision appear inadequate unless they also address psychological obstacles and ensure sustained social support.\u003c/p\u003e\n\u003cp\u003ePolicy efforts should consider a shift from predominantly supply driven interventions such as training delivery and technology distribution towards demand driven strategies that enhance psychological readiness and foster supportive community networks. This could involve allocating resources to community based mentoring programs, promoting peer learning groups, and designing culturally sensitive financial counseling services.\u003c/p\u003e\n\u003cp\u003eMoreover, the high rate of formal financing failure, with 60% of MSMEs never applying due to insufficient financial records, underscores the necessity for financial inclusion policies to prioritize the development of financial management competencies as a foundational requirement rather than a concurrent goal. Integrated approaches that simultaneously enhance financial access and build managerial capabilities are likely to yield greater effectiveness than isolated initiatives.\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003e2. Implications for Financial Institutions\u0026nbsp;\u003c/strong\u003e\u003c/p\u003e\n\u003cp\u003eFinancial institutions, including banks and microfinance organizations, should acknowledge that conventional credit assessment models may not adequately capture the creditworthiness of MSMEs with limited or poor financial documentation but strong business potential. Implementing alternative evaluation frameworks that incorporate business fundamentals, competitive positioning, and owner competencies could enhance financial inclusion while safeguarding credit quality.\u003c/p\u003e\n\u003cp\u003eMoreover, financial institutions have the opportunity to actively contribute to the development of financial management skills within their client base by adopting community-based initiatives rather than relying solely on conventional financial literacy seminars. Collaborations with local business networks and mentoring entities could foster sustainable ecosystems, generating mutual benefits for both financial service providers and MSMEs.\u003c/p\u003e\n\u003cp\u003eThe recognition that financial trauma can lead to persistent avoidance behaviors highlights the necessity for financial institutions to adopt empathetic and tailored engagement strategies when interacting with entrepreneurs who have faced prior financial setbacks. Approaches grounded in support and understanding are likely to be more effective than traditional, transaction-focused methods.\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003e3. Implications for Technology Providers\u0026nbsp;\u003c/strong\u003e\u003c/p\u003e\n\u003cp\u003eThe notably low digital adoption rate of 27%, despite the broad availability of financial management applications, indicates that many existing technologies are not optimally designed to meet the specific needs of MSMEs. To address this gap, technology developers should prioritize user centered design methodologies that emphasize ease of use, contextual relevance, and trust enhancement.\u003c/p\u003e\n\u003cp\u003eThe feature context mismatch reported by 53% of respondents highlights a critical opportunity for creating specialized software solutions tailored to the unique operational requirements of culinary businesses. Incorporating functionalities such as recipe cost analysis, seasonal menu adjustments, supplier management, and seamless integration with food delivery platforms could substantially improve the perceived usefulness of these digital tools.\u003c/p\u003e\n\u003cp\u003eFurthermore, the demonstrated significance of continuous support within community based mentoring programs suggests that technology providers ought to offer holistic support ecosystems alongside their products. Such ecosystems might encompass user forums, peer assistance networks, and collaboration with local business development agencies to ensure sustained user engagement and effective technology utilization.\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003e4. Implications for MSME Development Organizations\u0026nbsp;\u003c/strong\u003e\u003c/p\u003e\n\u003cp\u003eThe remarkable effectiveness of community based mentoring models indicates that development organizations need to fundamentally rethink their traditional training strategies. Transitioning from expert driven, classroom-style instruction to peer-led, community centered mentoring has the potential to substantially enhance the impact and sustainability of capacity building initiatives.\u003c/p\u003e\n\u003cp\u003eGiven the significant influence of psychological factors on financial management outcomes, development programs should integrate counseling or therapeutic components to address issues such as financial trauma and to foster financial self-efficacy. This approach necessitates equipping facilitators with basic counseling competencies and cultivating supportive, empathetic learning environments.\u003c/p\u003e\n\u003cp\u003eMoreover, the successful integration of diverse intervention modalities including technical skill development, psychological empowerment, and social networking implies that development efforts should embrace comprehensive, multidimensional strategies rather than isolated interventions. Achieving this may involve forming collaborative partnerships across various sectors and committing to longer-term program frameworks to ensure sustained benefits.\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003eG. Limitations and Future Research Directions\u0026nbsp;\u003c/strong\u003e\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003e1. Study Limitations\u0026nbsp;\u003c/strong\u003e\u003c/p\u003e\n\u003cp\u003eSeveral limitations must be considered when interpreting the results of this study. Firstly, the qualitative design involving 15 participants constrains the statistical generalizability of the findings. However, the insights may offer theoretical transferability, particularly to contexts with similar cultural and economic characteristics, though validation in diverse settings is warranted.\u003c/p\u003e\n\u003cp\u003eSecondly, the cross-sectional nature of the research limits the ability to infer causal relationships among the studied variables. Although the integrated framework proposes potential causal pathways, longitudinal research is necessary to substantiate these links and evaluate the enduring impact of related interventions.\u003c/p\u003e\n\u003cp\u003eThirdly, reliance on self-reported data introduces the possibility of social desirability bias, especially concerning financial management behaviors and technology adoption. Future investigations would benefit from incorporating objective data sources, such as audits of financial records and digital tool usage analytics.\u003c/p\u003e\n\u003cp\u003eFourthly, the exclusive focus on culinary MSMEs may restrict the applicability of findings to other MSME sectors, which may possess distinct operational dynamics and financial management needs. Comparative sectoral studies would help differentiate between universal and sector-specific determinants.\u003c/p\u003e\n\u003cp\u003eLastly, cultural and linguistic factors inherent to the Indonesian context may affect both data collection and interpretation. Therefore, the transferability of findings to other cultural environments should be approached cautiously and may require cultural adaptation.\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003e2. Future Research Directions\u0026nbsp;\u003c/strong\u003e\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003eSeveral promising research directions emerge from this study:\u003c/strong\u003e\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003eLongitudinal Impact Assessment:\u003c/strong\u003e Long-term studies tracking the effectiveness of integrated interventions over 2-3 years could provide valuable insights into sustainability and evolution of impacts.\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003eQuantitative Model Testing:\u003c/strong\u003e Large-scale surveys could test the integrated framework quantitatively and examine relationships between variables with greater statistical precision.\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003eCross Cultural Validation:\u003c/strong\u003e Replicating the study in different cultural contexts could enhance understanding of universal versus culture specific factors influencing financial management practices.\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003eSector Comparative Analysis:\u003c/strong\u003e Comparing findings across different MSME sectors could identify sector specific factors and develop tailored intervention approaches.\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003eTechnology Design Research:\u003c/strong\u003e Collaborative research with technology providers could develop and test user centered financial management applications specifically designed for culinary MSMEs.\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003ePsychological Intervention Studies:\u003c/strong\u003e Experimental studies examining the effectiveness of different psychological interventions for building financial self efficacy and addressing financial trauma could enhance intervention design.\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003ePolicy Impact Evaluation:\u003c/strong\u003e Studies examining the effectiveness of different policy approaches to supporting MSME financial management could inform evidence based policy development.\u003c/p\u003e\n\u003cp\u003e\u003c/p\u003e"},{"header":"7. CONCLUSION","content":"\u003cp\u003e\u003cstrong\u003eA. Summary of Key Findings\u003c/strong\u003e \u003c/p\u003e\n\u003cp\u003eThis study explored the role of financial management in enhancing the sustainability of culinary MSMEs in Indonesia\u0026rsquo;s digital era by employing an integrated framework encompassing technological, psychological, and social dimensions. The findings highlight significant challenges in financial practices, with 80% of participants relying on manual systems and 73% failing to separate personal and business finances, underscoring persistent fundamental issues that conventional interventions have not effectively resolved. Moreover, psychological factors, particularly financial self-efficacy, emerged as crucial determinants of financial management quality, as evidenced by 40% of respondents with high self efficacy demonstrating consistently better practices, while those affected by financial trauma showed avoidance behaviors that hinder progress.\u003c/p\u003e\n\u003cp\u003eAdditionally, despite the availability of digital financial tools, adoption rates remain low at 27%, primarily due to human centered barriers rather than technological limitations. This digital adoption paradox indicates that successful digital transformation necessitates addressing psychological readiness and contextual support beyond mere technology provision. Furthermore, community based mentoring programs exhibited remarkable effectiveness, achieving an 86% implementation success rate, far surpassing traditional training outcomes. These results suggest a critical need to shift MSME development strategies toward integrated, socially embedded approaches that combine technical, psychological, and communal support mechanisms.\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003eB. Theoretical Contributions\u003c/strong\u003e \u003c/p\u003e\n\u003cp\u003eTheoretically, this study provides a substantial contribution by developing and validating an integrated framework that combines the Technology Acceptance Model (TAM), Self Efficacy Theory, and Community Based Learning Theory. This integration uniquely explains the complex interplay between psychological, technological, and social factors that shape MSME financial management practices. It expands our understanding of how these theories complement each other to predict the adoption and sustainability of financial behaviors, particularly in the underexplored context of MSMEs in previous literature.\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003eC. Practical Contributions\u003c/strong\u003e \u003c/p\u003e\n\u003cp\u003eThe practical implications of this research are highly significant. Firstly, for policymakers and MSME support organizations, it is crucial to design financial management training programs that not only focus on technical aspects (e.g., app usage) but also on strengthening financial self-efficacy and addressing psychological barriers. Secondly, community based mentoring approaches should be mainstreamed as an effective strategy to enhance financial literacy and discipline, as they have proven capable of bridging knowledge and trust gaps. Thirdly, the development of digital tools for MSMEs must consider feature suitability and data security concerns to ensure greater acceptance and utilization. With these points in mind, holistic and contextualized interventions are key to enhancing the financial management capacity of culinary MSMEs and fostering their sustainability in the digital era.\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003eD. Integrated Model for MSME Financial Management\u003c/strong\u003e \u003c/p\u003e\n\u003cp\u003eBased on the empirical findings, this study proposes an integrated model for enhancing financial management capabilities among culinary MSMEs. The model emphasizes four key principles:\u003c/p\u003e\n\u003cul\u003e\n\u003cli\u003e\u003cstrong\u003eMulti dimensional Integration:\u003c/strong\u003e Effective interventions must simultaneously address technological, psychological, and social dimensions rather than focusing on individual aspects in isolation.\u003c/li\u003e\n\u003cli\u003e\u003cstrong\u003eHuman Centered Design:\u003c/strong\u003e Technology solutions must prioritize user experience, contextual relevance, and trust-building rather than focusing solely on technical capabilities.\u003c/li\u003e\n\u003cli\u003e\u003cstrong\u003eCommunity based Implementation:\u003c/strong\u003e Learning and behavior change occur most effectively through peer-supported, community based approaches rather than traditional expert led training.\u003c/li\u003e\n\u003cli\u003e\u003cstrong\u003ePsychological Prerequisites:\u003c/strong\u003e Building financial self efficacy and addressing psychological barriers are prerequisites for successful technology adoption and sustainable practice improvement.\u003c/li\u003e\n\u003c/ul\u003e\n\u003cp\u003e\u003cstrong\u003eE. Implications for MSME Sustainability\u003c/strong\u003e \u003c/p\u003e\n\u003cp\u003eThis research highlights that effective financial management is fundamental to the sustainability of MSMEs in the digital era, yet achieving this effectiveness demands addressing multifaceted and interconnected challenges. The integrated framework presented offers a strategic pathway to enhance MSME sustainability by focusing on comprehensive capability development that targets underlying issues rather than merely treating surface level symptoms.\u003c/p\u003e\n\u003cp\u003eMoreover, the finding that community based mentoring programs achieve an impressive 86% implementation success rate underscores their significant potential for broader application. However, scaling these interventions effectively will require careful consideration of local cultural contexts, individual participant needs, and the program design principles identified through this study to ensure adaptability and sustained impact.\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003eF. Final Recommendations\u003c/strong\u003e \u003c/p\u003e\n\u003cp\u003eBased on the research findings, several key recommendations emerge:\u003c/p\u003e\n\u003cul\u003e\n\u003cli\u003e\u003cstrong\u003eAdopt Integrated Approaches:\u003c/strong\u003e Stakeholders should avoid single intervention approaches and instead develop comprehensive programs that address technological, psychological, and social dimensions simultaneously.\u003c/li\u003e\n\u003cli\u003e\u003cstrong\u003ePrioritize Community-based Methods:\u003c/strong\u003e Training and development programs should shift from traditional classroom approaches to community based mentoring models that leverage peer learning and social support.\u003c/li\u003e\n\u003cli\u003e\u003cstrong\u003eAddress Psychological Barriers:\u003c/strong\u003e Interventions should explicitly address financial self-efficacy and trauma-related avoidance behaviors through supportive, non judgmental approaches.\u003c/li\u003e\n\u003cli\u003e\u003cstrong\u003eDevelop Contextual Technology Solutions:\u003c/strong\u003e Technology providers should invest in user-centered design approaches that prioritize culinary MSME contexts and needs.\u003c/li\u003e\n\u003cli\u003e\u003cstrong\u003eCreate Supportive Ecosystems:\u003c/strong\u003e Rather than isolated interventions, stakeholders should work to create integrated ecosystems that provide ongoing support for financial management improvement.\u003c/li\u003e\n\u003c/ul\u003e\n\u003cp\u003eThe journey toward sustainable culinary MSMEs in Indonesia\u0026rsquo;s digital era demands a fundamental transformation in the understanding and development of financial management capabilities. This study offers a robust theoretical foundation alongside practical recommendations to guide these changes, emphasizing that successful implementation depends on ongoing commitment and collaboration among diverse stakeholders.\u003c/p\u003e\n\u003cp\u003eBy adopting integrated strategies that leverage technological advancements while addressing the human aspects of learning and behavioral change, culinary MSMEs in Indonesia can build the financial management competencies essential for enduring sustainability and growth in an increasingly digital landscape.\u003c/p\u003e\n"},{"header":"Declarations","content":"\u003ch2\u003eFunding\u003c/h2\u003e\n\u003cp\u003eThis research received no external funding.\u003c/p\u003e\n\u003ch2\u003eAuthor Contribution\u003c/h2\u003e\n\u003cp\u003eC.L. is the sole author of this work and is responsible for the study\u0026rsquo;s conception, data collection, analysis, interpretation, and manuscript preparation.\u003c/p\u003e\n\u003ch2\u003eAcknowledgements\u003c/h2\u003e\n\u003cp\u003eThe authors would like to thank all MSME participants and community mentors for their contributions to this study.\u003c/p\u003e\n\u003ch2\u003eData Availability\u003c/h2\u003e\n\u003cp\u003eThe research data were collected directly by the author(s) through surveys/interviews/field observations. Due to confidentiality and ethical considerations, the raw data are not publicly available but can be provided upon reasonable request and subject to ethical approval.\u003c/p\u003e"},{"header":"References","content":"\u003col\u003e\n\u003cli\u003eAdhikara, N. D. (2018). Financial Accounting Standards for Micro, Small \u0026amp; Medium Entities (SAK EMKM) Implementation and Factors That Affect It. \u003cem\u003eJEMA: Jurnal Ilmiah Bidang Akuntansi Dan Manajemen\u003c/em\u003e, \u003cem\u003e15\u003c/em\u003e(2), 50. https://doi.org/10.31106/jema.v15i2.1126\u003c/li\u003e\n\u003cli\u003eAdomako, S., Amankwah-Amoah, J., Dankwah, G. O., Danso, A., \u0026amp; Donbesuur, F. (2019). Institutional voids, international learning effort and internationalization of emerging market new ventures. \u003cem\u003eJournal of International Management\u003c/em\u003e, \u003cem\u003e25\u003c/em\u003e(4), 100666. https://doi.org/10.1016/j.intman.2019.04.001\u003c/li\u003e\n\u003cli\u003eBai, R. (2023). 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(2022). FINANCIAL SELF-EFFICACY OF ENTREPRENEURS AND PERFORMANCE. \u003cem\u003eJournal of Developmental Entrepreneurship\u003c/em\u003e, \u003cem\u003e27\u003c/em\u003e(01), 2250002. https://doi.org/10.1142/S1084946722500029\u003c/li\u003e\n\u003cli\u003eWijaya, H. R., Hati, S. R. H., Ekaputra, I. A., \u0026amp; Kassim, S. (2024). The impact of religiosity and financial literacy on financial management behavior and well-being among Indonesian Muslims. \u003cem\u003eHumanities and Social Sciences Communications\u003c/em\u003e, \u003cem\u003e11\u003c/em\u003e(1). https://doi.org/10.1057/s41599-024-03309-6\u003c/li\u003e\n\u003cli\u003eAsian Development Bank. (2021). \u003cem\u003eAsia-Pacific Financial Inclusion Forum 2021: Emerging Priorities in the COVID-19 Era\u003c/em\u003e. Retrieved from https://www.adb.org/publications/asia-pacific-financial-inclusion-forum-2021\u003c/li\u003e\n\u003cli\u003eBadan Pusat Statistik (BPS). (2023). \u003cem\u003eStatistik Usaha Mikro Kecil dan Menengah 2023\u003c/em\u003e. Retrieved from https://www.bps.go.id/publication/2023/12/05/statistik-usaha-mikro-kecil-2023.html\u003c/li\u003e\n\u003cli\u003eKementerian Pariwisata dan Ekonomi Kreatif (Kemenparekraf). (2023). \u003cem\u003ePanduan Manajemen Keuangan UMKM Sektor Pariwisata dan Ekonomi Kreatif\u003c/em\u003e. Jakarta: Kemenparekraf.\u003c/li\u003e\n\u003c/ol\u003e"}],"fulltextSource":"","fullText":"","funders":[],"hasAdminPriorityOnWorkflow":false,"hasManuscriptDocX":false,"hasOptedInToPreprint":true,"hasPassedJournalQc":"","hasAnyPriority":true,"hideJournal":false,"highlight":"","institution":"","isAcceptedByJournal":true,"isAuthorSuppliedPdf":false,"isDeskRejected":"","isHiddenFromSearch":false,"isInQc":false,"isInWorkflow":false,"isPdf":false,"isPdfUpToDate":true,"isWithdrawnOrRetracted":false,"journal":{"display":true,"email":"[email protected]","identity":"humanities-and-social-sciences-communications","isNatureJournal":false,"hasQc":true,"allowDirectSubmit":false,"externalIdentity":"palcomms","sideBox":"Learn more about [Humanities \u0026 Social Sciences Communications](http://www.nature.com/palcomms/)","snPcode":"41599","submissionUrl":"https://submission.springernature.com/new-submission/41599/3","title":"Humanities and Social Sciences Communications","twitterHandle":"","acdcEnabled":true,"dfaEnabled":true,"editorialSystem":"stoa","reportingPortfolio":"Nature AJ","inReviewEnabled":true,"inReviewRevisionsEnabled":false},"keywords":"financial management, MSMEs, digital transformation, financial self efficacy, community mentoring, Indonesia, technology adoption, sustainability","lastPublishedDoi":"10.21203/rs.3.rs-7209704/v1","lastPublishedDoiUrl":"https://doi.org/10.21203/rs.3.rs-7209704/v1","license":{"name":"CC BY 4.0","url":"https://creativecommons.org/licenses/by/4.0/"},"manuscriptAbstract":"\u003cp\u003eThis study analyzes the critical role of financial management in supporting the sustainability of culinary Micro, Small, and Medium Enterprises (MSMEs) in Indonesia\u0026rsquo;s digital era. Addressing significant gaps in the literature concerning comprehensive financial management solutions for this vital sector, this research proposes and empirically tests an innovative integrated framework that uniquely combines the Technology Acceptance Model (TAM), Self Efficacy Theory, and Community Based Learning Theory. Despite culinary MSMEs' substantial contribution to the national economy accounting for 61% of GDP and employing 97% of the workforce they persistently face financial management deficiencies that hinder long-term viability. Employing a descriptive qualitative design and an exploratory case study approach, data were gathered from 15 purposively selected MSME operators across Jakarta, Bandung, and Surabaya through in depth interviews, participant observation, document analysis, and focus group discussions. Thematic analysis, guided by Miles and Huberman\u0026rsquo;s methodology, revealed three major findings: (1) a pervasive reliance on manual financial management (80% of participants) and a failure to separate personal from business finances (73%), indicating systemic financial control weaknesses; (2) a clear correlation between high financial self efficacy with the adoption of digital tools and improved financial practices; and (3) the significant effectiveness of community based mentoring programs in enhancing cash flow understanding and financial discipline. These findings not only enrich the theoretical understanding of factors influencing digital adaptation and financial management in MSMEs but also provide strong practical implications for policymakers, educators, and support organizations in designing more effective interventions to enhance the financial capacity and sustainability of MSMEs in the digital era.\u003c/p\u003e","manuscriptTitle":"Enhancing Culinary MSME Sustainability: The Role of an Integrated Model of Financial Self-Efficacy, Technology Adoption, and Community Based Mentoring in Indonesia's Digital Era","msid":"","msnumber":"","nonDraftVersions":[{"code":1,"date":"2025-07-30 07:52:16","doi":"10.21203/rs.3.rs-7209704/v1","editorialEvents":[{"type":"communityComments","content":0},{"type":"decision","content":"Revision requested","date":"2025-09-05T13:25:43+00:00","index":"","fulltext":""},{"type":"editorAssigned","content":"","date":"2025-09-05T13:16:02+00:00","index":"","fulltext":""},{"type":"checksComplete","content":"","date":"2025-08-17T14:38:25+00:00","index":"","fulltext":""},{"type":"submitted","content":"Humanities and Social Sciences Communications","date":"2025-07-25T02:40:15+00:00","index":"","fulltext":""}],"status":"published","journal":{"display":true,"email":"[email protected]","identity":"humanities-and-social-sciences-communications","isNatureJournal":false,"hasQc":true,"allowDirectSubmit":false,"externalIdentity":"palcomms","sideBox":"Learn more about [Humanities \u0026 Social Sciences Communications](http://www.nature.com/palcomms/)","snPcode":"41599","submissionUrl":"https://submission.springernature.com/new-submission/41599/3","title":"Humanities and Social Sciences Communications","twitterHandle":"","acdcEnabled":true,"dfaEnabled":true,"editorialSystem":"stoa","reportingPortfolio":"Nature AJ","inReviewEnabled":true,"inReviewRevisionsEnabled":false}}],"origin":"","ownerIdentity":"26b622ed-8b26-4ba4-aa85-1b17f90ccf35","owner":[],"postedDate":"July 30th, 2025","published":true,"recentEditorialEvents":[],"rejectedJournal":[],"revision":"","amendment":"","status":"under-review","subjectAreas":[{"id":52197304,"name":"Business and commerce/Business and management"},{"id":52197305,"name":"Social science/Business and management"},{"id":52197306,"name":"Business and commerce/Economics"},{"id":52197307,"name":"Social science/Economics"},{"id":52197308,"name":"Business and commerce/Finance"},{"id":52197309,"name":"Social science/Finance"},{"id":52197310,"name":"Business and commerce/Information systems and information technology"}],"tags":[],"updatedAt":"2026-04-21T11:09:29+00:00","versionOfRecord":[],"versionCreatedAt":"2025-07-30 07:52:16","video":"","vorDoi":"","vorDoiUrl":"","workflowStages":[]},"version":"v1","identity":"rs-7209704","journalConfig":"researchsquare"},"__N_SSP":true},"page":"/article/[identity]/[[...version]]","query":{"redirect":"/article/rs-7209704","identity":"rs-7209704","version":["v1"]},"buildId":"8U1c8b4HqxoKbykW_rLl7","isFallback":false,"isExperimentalCompile":false,"dynamicIds":[84888],"gssp":true,"scriptLoader":[]}