Collaboration between FEB UI Center UKM and FEB UI Alumni Association Produces Financial Planning Training for SMEs
Depok – Having previously channeled financing for micro and small business entrepreneurs (MSMEs) at the Terminal Mosque School (Master), UKM Center FEB UI provided training to participants on Saturday (16/10) as part of the commitment of the empowerment program . This training takes the topic of financial planning with the aim to help the SMEs to be able to wisely utilize the money they have, including the financing that has been distributed.
UKM Center FEB UI collaborated with the FEB UI Alumni Business Network from Iluni FEB UI to invite Kokko Cattaka, CFP, AEPP as speakers in the session. He is a professional financial planner who has been struggling for a long time in financial planning training. He holds Certified Financial Planner (CFP) certification and The Associate Estate Planning Practitioner (AEPP). He also has a start-up named doitsmart.id which focuses on developing MSMEs, both through consultation and community formation. In this training, Mr. Kokko delivered some material on financial planning. In the first material, he conveyed the importance of managing finances from small things that may be experienced by the SMEs. They are encouraged to be able to separate their needs and desires. Improvements from the side of the capture should not be followed by
an increase in consumption that is excessive and more directed at investment or savings. This is because, this money might be needed for emergencies. In addition to emphasizing the importance of managing revenues and expenses, Mr. Kokko also stressed the importance of financial records. He also provided a tool in the form of a cash flow book that could be used by SMEs in recording income and expenses in their businesses. This becomes very important because one of the weaknesses of SMEs is the absence of financial records. This results in irregular expenditure and income. “Do you often experience a condition where you feel that many people buy at your shop, but how come you don’t have the money? This is because the mother does not record small expenses such as giving children pocket money and others. Therefore, it is important for mothers to record finances, “said Mr. Kokko. Debt management was also one of the topics discussed at the training. Mr. Kokko stressed the importance of the mindset that debt must be used for its intended purpose. He stressed that debt cannot be used for consumption and lifestyle. This is because the debt will become a burden in the future from activities that do not produce. In addition, MSME actors must also not use debt funds to cover other debts.
At the end of the session, this activity was closed with a discussion on further training. “Please give input on the topic of business what is needed by the mothers. Later
we will try to find speakers who have the capacity there, “said Mr. T.M. Zakir Sjakur Machmud as the Head of UKM Center FEB UI. He emphasized that this training
just the beginning of the next training which will be adjusted to the needs of the SMEs in the Master School.
About UKM Center FEB UI
In 2005, the United Nations established 2005 as the International Year of Microcredit in the context of poverty alleviation through the development of micro-small businesses. In the same year, the Dean of the Faculty of Economics and Business UI also felt the need to establish an institution under a faculty umbrella that focused on community service activities, to perfect the implementation of the Tri Dharma of Higher Education (teaching, research, and community service).
With this background the UKM Center or UKM FEB UI was established, as a unit that focused on empowering micro small businesses and encouraging entrepreneurial spirit.
By carrying out the motto “Knowledge to Empower SME and Develop Entrepreneurship”, UKM Center FEB UI actively synergizes with various groups, both government, business, universities, and various non-governmental organizations, in order to optimize its role and expand its range of services. Until now, the activities of UKM Center FEB UI include research, policy advocacy, training, coaching (business mentoring), business incubation, awarding, to lending.
About ILUNI FEB UI
The vision of ILUNI FEB UI period 2019 – 2021 is the Indonesian Economic Innovation Mover, in accordance with the era we face today and going forward, namely how we strengthen economic growth through technological innovation and creativity to support sustainable and inclusive development.