Title:
THE IMPORTANCE OF FINANCIAL LITERACY AND TECHNOLOGICAL LITERACY FOR THE SUSTAINABILITY OF THE CULINARY BUSINESS IN KOTA KUPANG DURING THE COVID -19 PANDEMIC

Authors:
Hironnymus Jati, Petrus Emanuel De Rosary, Apriana H.J.Fanggidae, Reyner F.Makatita, Indonesia

Abstract:

The purpose of study to describe impact of Covid-19 pandemic,  analyze the importance of financial and technological literacy for  SMEs survival during the Covid 19 pandemic. The research method used is quantitative descriptive method. Data were collected by direct interviews and by telephone to 45 culinary SMEs. All culinary MSEs in Kupang City were affected by Covid 19 pandemic, especially when social trips and trips limited by government, their turnover decreased in the range of 50-80% from before. The most drastic decline in sales turnover was culinary MSEs operating in the campus, school and recreation areas when all activities were carried out from home so that activities with itself stops completely.  The results of the analysis also show that most of them do not have a business plan, written financial budget, savings to anticipate business risks or calamities, so 62% experience financial difficulties because they lack business financial capacity. As many as 70% admit the use of digital technology in marketing products but are limited to certain customer groups,  not yet have a WA business group, marketing still relies on face-to-face marketing; only 10% use personal computer to provide financial information. MSEs realizes that through financial literacy, digital technological literacy and government policy the business is sustainable despite the crisis, although the city government does not have a special program to help MSMEs. The practical implication is a policy of continuous strengthening and assistance if MSMEs are relied on as a driving force for the economy, especially the creative economy.