Abstract
Financial management is essential for the sustainability and competitiveness of microenterprises, which often operate under constraints such as limited capital, informal practices, and low financial literacy. This article explores how financial management tools—particularly accounting software, cash flow management applications, and financial analysis platforms—can empower microentrepreneurs to improve financial control and strategic decision-making. These tools offer automated functionalities that enhance record-keeping, enable real-time cash flow tracking, and support profitability analysis. The widespread adoption of mobile technology further facilitates access to these digital solutions, especially in underserved regions. However, the implementation of such tools is influenced by factors including digital literacy, affordability, and trust in technology. To address these challenges, educational initiatives, intuitive tool design, and policy support are vital. The integration of financial tools with e-commerce and digital payment systems also presents promising pathways for operational efficiency and business growth. This article concludes by highlighting the need for ongoing research into the long-term impact of financial technologies on microenterprise development and calls for systemic efforts to foster inclusive digital financial ecosystems.
Keywords
Financial Management Tools; Microentrepreneurs; Cash Flow; Accounting Software; Financial Inclusion; Mobile Finance; Digital Literacy; Microenterprise Growth.
Citations
IRE Journals:
Priscilla Godoy Lobato Barcelos
"How to Use Financial Management Tools for Microentrepreneurs" Iconic Research And Engineering Journals Volume 5 Issue 8 2022 Page 443-447
IEEE:
Priscilla Godoy Lobato Barcelos
"How to Use Financial Management Tools for Microentrepreneurs" Iconic Research And Engineering Journals, 5(8)
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