Prudent Financial Management Research Articles

Strategic Financial Planning for Long-Term Sustainability in Madrasah Aliyah

This study investigates strategic financial planning for long-term sustainability in Madrasah Aliyah Siti Mariam Banjarmasin. The objective is to analyze the institution's financial challenges, explore strategies for enhancing financial sustainability, and propose recommendations for effective financial management. The research employs qualitative methods, including interviews and observations, to gather data on financial practices, challenges, and strategies within the institution. The findings reveal significant challenges in allocating financial resources effectively, including dependence on Government funding and limited investment in critical areas such as infrastructure and staff development. However, the study also identifies promising strategies for improving financial sustainability, such as diversifying revenue streams through fundraising events and partnerships, optimizing resource utilization, and implementing prudent financial management practices. Based on these findings, recommendations are proposed to prioritize investments in key areas, enhance revenue diversification efforts, and foster a culture of financial responsibility within the institution. Overall, the study contributes to understanding strategic financial planning in educational institutions and provides practical insights for enhancing long-term sustainability in Madrasah Aliyah Siti Mariam Banjarmasin.

Sustainable Technology Adoption and Green Competitive Advantage: an Empirical Study of Msmes In Indonesia

Objective: Micro, Small and Medium Enterprises (MSMEs) have an important role in Indonesia's economic growth. MSMEs in the creative industry have grown and have played an important role in Indonesia's economy and the achievement of sustainable development goals (SDGs). This article examines the performance of MSMEs (MPR) in the creative industry by analyzing the influence of sustainable technology adoption (STA), accounting and financial resources (AFR), and green competitive advantage (GCA). Theoretical Framework: This article examines the performance of creative industry MSMEs in Indonesia using the Natural Resource Based View (NRBV) framework. Method: The research in this article was conducted with a sample of creative industry owners or managers in the provinces of Central Java, West Java, and Yogyakarta. This article is a quantitative survey-based research. A total of two hundred and ninety-four people participated in this study. Results and Discussion: The data analysis results indicate that STA and AFR have an impact on the GCA. The MPRs driven by AFR and GCA. However, this article did not find any influence of STA on MPR. Research Implications: According to the study's findings, MPR may increase when MSMEs are able to locate GTA. As a result, MSMEs must innovate while maintaining an emphasis on sound environmental management through the use of sustainable technologies and prudent financial management. Originality/Value: This study contributes to the literature by testing GTA and MPR within the NRBV framework. The relevance and value of this research are evidenced by the contribution of research results to improving the performance of MSMEs.

Survival strategies of informal sector workers in Bali's tourism industry

The informal tourism sector plays a vital role in the local economies, particularly in destinations such as Bali. This aligns with the United Nations Sustainable Development Goal 8, which focuses on promoting decent work and economic growth. These workers, who are often ignored, greatly enrich the experience of tourism but encounter distinct obstacles on a daily basis. Gaining insight into their methods for staying alive is crucial. Informal workers face distinct limits compared to formal sector employees, resulting in less defined sustainability and growth strategies. A thorough investigation was carried out in nine regencies in Bali, utilizing observations and interviews, in order to examine these tactics. This method facilitated a comprehensive comprehension of their day-to-day routines and difficulties. The study identified four crucial survival strategies: implementing prudent financial management to sustain businesses and meet daily needs, utilizing communication skills to maintain income and continuity, enhancing social capital through positive relationships with fellow workers, and comprehending government policies. Out of these factors, effectively managing economic capital is crucial for maintaining livelihoods in the fiercely competitive tourism business. The results of this study provide a basis for future policies or interventions aimed at supporting and enhancing the lives of informal sector workers in tourist areas such as Bali.

Firms’ Capital Structure during Crises: Evidence from the United Kingdom

This study was conducted using the dynamic panel two-stage least squares system generalized methods of moments (2SLS-system GMM) to examine how UK companies made capital structure decisions during the COVID-19 pandemic. Contrary to expectations, firms opted to reduce their debt exposure during the pandemic. Tobin’s Q was the most significant determinant of capital structure, as it mitigated total debt by 0.25% during the pandemic. This result aligns with the pecking order theory, suggesting that firms prefer internal financing over debt. Simultaneously, combined scores (ESG) and the decomposed environment (E), social (S), and governance (G) scores individually and paired with the COVID-19 dummy negatively affected short-term debt by 0.012%, 0.015%, 0.0068%, and 0.00434%, respectively. This study’s results highlight the significance of firms adopting less debt-heavy policies during periods of heightened uncertainty to effectively manage financial risk. This result underscores the importance of prudent financial risk management strategies for navigating the challenges posed by sudden crises. Our findings suggest that a complex interplay of factors influences capital structure decisions during crises, with debt reduction and prudent risk management emerging as critical strategies.

Relationship between Principal’s Technical Skills and Students’ Academic Performance in Public Secondary Schools in Mt Elgon Sub-County

Student academic performance in secondary level of education is essential as it is a determinant of their future pathway to tertiary education. The effective performance of students in academics is dependent on the technical leadership skills that their principal applies in leading their schools. Kenya Certificate of Secondary Education (KCSE) examinations by public secondary schools in Mount Elgon Sub County has been below average in recent years. The aim of this paper was to investigate how technical skills of principals affected the academic performance of students in public secondary schools in Mount Elgon Sub County, Bungoma County, Kenya. The study is anchored on descriptive survey research design targeting 17 public secondary schools in Mount Elgon Sub County. A total of 256 teachers formed the study population. A sample size of 152 teachers was selected based on Kathuri and Pals table. The respondents were selected through use of stratified random sampling technique. The research instrument used was a questionnaire. To ensure validity and reliability the questionnaire was send to an expert in the pilot study and test- retest method was conducted respectively. Analysis of data was performed using descriptive and inferential statistics with the help of SPSS (Version 25.0) for quantitative data. It was established that there was significant weak positive relationship between principals’ technical skills (r=0.248, p=0.006) and academic performance of students in public secondary schools in Mount Elgon Sub County. The study concludes that there was significant weak positive relationship between principal’s technical leadership skills and performance by students in secondary schools (p<0.05). This meant that the technical leadership skills application by principals influenced academic performance of their schools. The study recommends that principals should undergo training on ICT use, principals to ensure that they provide instructional guidance to teachers and ensure that prudent financial management practices are implemented in their schools.

Analysis of The Influence of Electronic Wallet Usage, Lifestyle, And Financial Literacy on The Consumptive Behaviour of Generation Z Workers in DKI Jakarta

This study investigates the influence of electronic wallet usage, lifestyle, and financial literacy on consumptive behavior among Generation Z workers in DKI Jakarta. With a population comprising about one-third of DKI Jakarta's total population, Generation Z is notably technologically adept, often referred to as the Internet or Digital Generation. Employing a quantitative approach, the research utilizes Partial Least Square Structure Equation Modeling (PLS-SEM) and collects data from 407 respondents through an online questionnaire. Findings reveal a positive and significant association between electronic wallet usage and consumptive behavior, as well as lifestyle and consumptive behavior. However, financial literacy exhibits an insignificant and negative impact on consumptive behavior. These insights contribute to understanding the financial behavior of Generation Z workers and may aid in fostering more prudent financial management practices among this demographic.

Navigating Crisis: Strategic Adaptations in Family Businesses Amid Economic Uncertainty

This research delves into the strategic adaptations made by family businesses to navigate crises amidst economic uncertainty. Family businesses represent a significant portion of the global economy and face unique challenges during periods of economic instability. Through a comprehensive review of academic literature, case studies, and expert insights, this study identifies key strategies employed by family businesses to withstand turbulent economic conditions. The findings highlight the critical role of clear communication and transparent decision-making processes in ensuring business resilience during crises. Family businesses that prioritize open dialogue among stakeholders are better equipped to respond effectively to challenges and maintain continuity. Moreover, flexibility within business models emerges as essential for adapting to rapidly changing market dynamics. Family businesses often leverage their inherent strengths, such as strong relationships with customers and communities, to navigate crises successfully. Prudent financial planning and risk management are identified as fundamental for safeguarding the financial stability of family businesses amidst economic uncertainty. Effective management of resources and proactive risk mitigation strategies enable businesses to weather downturns and position themselves for recovery. Additionally, the study emphasizes the importance of maintaining a long-term perspective and fostering family unity during crises. Family businesses that prioritize cohesion and collaboration among family members demonstrate greater resilience and are more likely to emerge stronger from adversity. By synthesizing these insights, this research provides valuable guidance for family business owners, managers, and policymakers facing economic uncertainty.

The Role of Economic Education in the Family on the Consumptive Behavior of University Students

Consumptive behavior is a behavior in humans where people spend their money to fulfill needs that tend to prioritize not only needs but unrestrained wants. This behavior is identical to the tendency in spending too much money with the inability to control purchase of goods and services that are not in priority. Impulsive shopping, lack of financial planning and the tendency to prioritize prestige within their social setting. These behaviors are frequently observable among teenagers or, in this case, university students. They would be avoidable, if students have self-control to follow a rational consumption pattern. Consumptive behavior among university students should be watched carefully because it would have an impact on students’ personal wellbeing, mental health and academic advancements. Overbuying on goods should be controlled through improvement of personal financial awareness, development of prudent financial management habit and learning to differentiate between needs and wants. The family setting, as an informal education to support formal education, has a role in forming students’ mindset. Habit formation, exemplar and explanation from parents are major elements in forming a child’s mindset to behave in an economically rational way. Habits are taught by parents. Financially responsible habits are formed by the parents in their children. Through exemplars, parents provide examples on how to consume through the practices of financial management. Explanations are provided by the parents on the importance of living prudently

Factors Affecting Profitability of Food and Beverage Industries: A Resource-Based View and Competitiveness Approach

This study examines the determinants of profitability within Indonesia's food and beverage industry, specifically analyzing the role of firm size, liquidity, efficiency, leverage, and market power. Utilizing data from 24 companies listed on the Indonesia Stock Exchange from 2018-2022, the research employs multiple linear regression analysis to investigate these factors' impact on profitability, as indicated by Return On Assets (ROA). Results reveal that firm size, liquidity, efficiency, leverage, and market power collectively influence profitability, with market power emerging as the most significant determinant. While firm size and efficiency are positively associated with profitability, leverage negatively impacts it, and liquidity does not significantly affect it. The study's findings highlight the importance of strategic market positioning, operational efficiency, and prudent financial management in enhancing profitability.

Legal regulation of the budget process in the EU

The experience of the most influential interstate formation in Europe – the European Union, which occupies the second place in terms of GDP and the third in terms of population. is instructive in all its spheres of functioning, in particular in the field of budget law. Given the accelerated movement of Ukraine to the European community, the «budget experience» of the European Union is certainly the most indicative and instructive, since it was formed on the basis of a generalization of best practices of all member countries of the European continent. The article deals with a set of the main EU budget regulations: the Treaty on the Functioning of the European Union; Treaty on European Union; EU financial regulations; Regulation of the European Parliament and of the Council (EU, EURATOM) 2018/1046 of 18 July 2018 on financial rules applicable to the general budget of the Union on amendments to the regulations (EU) № 1296/2013, (EU) № 1301/2013, (EU) № 1303/2013, (EU) № 1304/2013, (EC) № 1309/2013, (EC) № 1316/2013, (EC) № 223/2014, (EC) № 283/2014 and Decision № 541/2014/ЄS and repealing Regulation (EU, Euratom) № 966/2012. On the basis of a detailed analysis of these documents, the fundamental positions of the EU budget process in general and the principles of the EU budget in particular are ordered, structured and described (they include the principles: unity, reliability of the budget, annuity, balance, unit of account, universality, detail, prudent financial management and productivity, transparency). Proposals for the implementation of the principles of the EU budget to the domestic budget law are carried out.

Financial Inclusion and Technological Influence on SDG 4 - Quality Education Attainment in Africa: A Case Study of Gombe State

The pursuit of Sustainable Development Goal 4 (SDG 4) - Quality Education, remains a critical imperative for African nations, particularly in the context of fostering inclusive and equitable education systems. This study aims to address the gaps in understanding the relationship between financial inclusion, technological advancements, and the achievement of SDG 4 in Africa, focusing specifically on Gombe State. Questionnaires were distributed to 700 respondents, with 580 valid responses collected. Data was collected on access to financial services, awareness and usage of educational technology, financial behavior, and attitudes towards education financing. Data analysis was conducted using Covariance-Based Structural Equation Modeling (CB-SEM) with AMOS. The study found a significant positive relationship between access to financial services and attitudes towards education financing. Additionally, awareness and usage of educational technology were found to positively influence attitudes towards education financing. Finally, positive financial behaviors, such as savings and prudent financial management, were associated with supportive attitudes towards education financing. The study suggests integrating financial inclusion, educational technology, and promoting positive financial behaviors, in order to advance inclusive and equitable quality education in Gombe State, thereby fostering sustainable development in the region.

Design of intelligent financial data management system based on higher-order hybrid clustering algorithm

Amid the ever-expanding landscape of financial data, the importance of predicting potential risks through artificial intelligence methodologies has steadily risen. To achieve prudent financial data management, this manuscript delves into the domain of intelligent financial risk forecasting within the scope of system design. It presents a data model based on the variational encoder (VAE) enhanced with an attention mechanism meticulously tailored for forecasting a company’s financial peril. The framework called the ATT-VAE embarks on its journey by encoding and enhancing multidimensional data through VAE. It then employs the attention mechanism to enrich the outputs of the VAE network, thereby demonstrating the apex of the model’s clustering capabilities. In the experimentation, we implemented the model to a battery of training tests using diverse public datasets with multimodal features like AWA and CUB and verified with the local finance dataset. The results conspicuously highlight the model’s commendable performance in comparison to publicly available datasets, surpassing numerous deep clustering networks at this juncture. In the realm of financial data, the ATT-VAE model, as presented within this treatise, achieves a clustering accuracy index exceeding 0.7, a feat demonstrably superior to its counterparts in the realm of deep clustering networks. The method outlined herein provides algorithmic foundations and serves as a pivotal reference for the prospective domain of intelligent financial data governance and scrutiny.

Inovasi Teknologi dalam Sistem Informasi Akuntansi: Financial Planning pada Bisnis UMKM

This webinar discusses the importance of technological innovation in accounting information systems to enhance the efficiency and effectiveness of financial management among Micro, Small, and Medium Enterprises (MSMEs). By leveraging technologies such as cloud computing and integrated accounting information systems, MSMEs can improve transparency, accuracy, and speed in financial reporting, ultimately supporting better strategic planning and decision-making. The findings from this webinar reveal that many MSMEs still rely on traditional methods to assess financial health, which are inadequate to face the current economic challenges. The speakers emphasized the importance of good risk management and effective branding strategies to achieve sustainable business growth. By adopting new technologies and implementing prudent financial management, MSMEs can maintain their competitiveness in the dynamic global market.

Developing a framework for effective institutional management of Ghana's urban water supply

PurposeA viable framework has been proven to reduce operational and institutional inefficiencies in the urban water supply sector. The absence of drivers necessary to develop a framework may have hindered institutional development and effective Ghanaian urban water supply management. Thus, the research aims to identify the drivers and develop a framework for effectively managing the urban water supply in Ghana.Design/methodology/approachThe study utilised a qualitative research design approach and analysed collected data to proffer answers to the research questions. The research sampled 19 participants, and saturation was achieved.FindingsFindings identified drivers for developing Ghana's urban water supply framework. They categorised them into the availability of water supply resources, the level of professionalism of the personnel, the provision of accessible quality water, the efficient management system of water supply, prudent financial management, ethics for managing water supply and the culture of managing water supply. These pertinent constructs form components of Ghana's urban water sector framework.Originality/valueBesides supporting transformation and sustainability to develop a framework for managing Ghana's urban water supply sector, policymakers may utilise the developed model to evaluate public urban water supply compliance with Ghana's water sector performance.

Assessing the Influence of Budgeting and Forecasting Accuracy on Financial Performance in Corporate Accounting using SPSS Statistics

corporate accounting, Corporate accounting is a fundamental facet of modern business operations, serving as the backbone of financial management and reporting within organizations. It encompasses the systematic recording, analysis, and interpretation of financial data to provide accurate insights into a company's economic activities. This branch of accounting operates within the corporate context, dealing with the financial transactions and events that transpire within a business entity. At its core, corporate accounting enables companies to track their financial health, make informed decisions, and fulfill regulatory requirements. It involves processes such as recording revenue, expenses, assets, and liabilities, as well as preparing financial statements like balance sheets, income statements, and cash flow statements. These financial reports play a pivotal role in communicating the company's financial performance and position to various stakeholders, including investors, creditors, regulatory bodies, and management. In the dynamic landscape of modern business, corporate accounting is constantly evolving. Advancements in technology have introduced innovative software and tools that streamline accounting processes, enhance accuracy, and enable real-time reporting. Additionally, the complexity of global markets and regulatory frameworks has heightened the importance of adhering to accounting standards such as Generally Accepted Accounting Principles (GAAP) or International Financial Reporting Standards (IFRS). In essence, corporate accounting serves as the financial compass of a company, guiding it towards prudent financial management, effective resource allocation, and transparency in reporting. It plays an integral role in supporting strategic decision-making, fostering investor confidence, and ensuring the organization's compliance with financial regulations.Research in corporate accounting holds significant value as it ensures financial transparency, guides ethical conduct, and aids in compliance with international standards. By refining accounting practices, detecting fraud, and informing strategic decisions, such research promotes accurate financial reporting, safeguards against mismanagement, and supports sustainable business growth in a complex and interconnected global economy.SPSS (Statistical Package for the Social Sciences) is a comprehensive software tool used for statistical analysis and data management. It offers a user-friendly interface for researchers and analysts to conduct various statistical tests, create visualizations, and explore data relationships. SPSS facilitates tasks such as data cleaning, descriptive statistics, hypothesis testing, regression analysis, and more. It's widely employed in research, social sciences, and business for its ability to process and interpret data, aiding in evidence-based decision-making and insights generation.Financial Statement Analysis, Budgeting and Forecasting, Tax Compliance, generally accepted accounting principles (GAAP) and International Financial Reporting Standards (IFRS) Knowledge, Financial Software Utilization.Cronbach's Alpha Reliability analysis. The collective Cronbach's Alpha coefficient for the model stands at .537, indicating a reliability level of 49%. Drawing from the literature review, the model with the aforementioned Cronbach's Alpha value of 53% is deemed suitable for further analysis.

Assessing the Influence of Budgeting and Forecasting Accuracy on Financial Performance in Corporate Accounting using SPSS Statistics

corporate accounting Corporate accounting is a fundamental facet of modern business operations, serving as the backbone of financial management and reporting within organizations. It encompasses the systematic recording, analysis, and interpretation of financial data to provide accurate insights into a company's economic activities. This branch of accounting operates within the corporate context, dealing with the financial transactions and events that transpire within a business entity. At its core, corporate accounting enables companies to track their financial health, make informed decisions, and fulfill regulatory requirements. It involves processes such as recording revenue, expenses, assets, and liabilities, as well as preparing financial statements like balance sheets, income statements, and cash flow statements. These financial reports play a pivotal role in communicating the company's financial performance and position to various stakeholders, including investors, creditors, regulatory bodies, and management. In the dynamic landscape of modern business, corporate accounting is constantly evolving. Advancements in technology have introduced innovative software and tools that streamline accounting processes, enhance accuracy, and enable real-time reporting. Additionally, the complexity of global markets and regulatory frameworks has heightened the importance of adhering to accounting standards such as Generally Accepted Accounting Principles (GAAP) or International Financial Reporting Standards (IFRS). In essence, corporate accounting serves as the financial compass of a company, guiding it towards prudent financial management, effective resource allocation, and transparency in reporting. It plays an integral role in supporting strategic decision-making, fostering investor confidence, and ensuring the organization's compliance with financial regulations. Research in corporate accounting holds significant value as it ensures financial transparency, guides ethical conduct, and aids in compliance with international standards. By refining accounting practices, detecting fraud, and informing strategic decisions, such research promotes accurate financial reporting, safeguards against mismanagement, and supports sustainable business growth in a complex and interconnected global economy. SPSS (Statistical Package for the Social Sciences) is a comprehensive software tool used for statistical analysis and data management. It offers a user-friendly interface for researchers and analysts to conduct various statistical tests, create visualizations, and explore data relationships. SPSS facilitates tasks such as data cleaning, descriptive statistics, hypothesis testing, regression analysis, and more. It's widely employed in research, social sciences, and business for its ability to process and interpret data, aiding in evidence-based decision-making and insights generation. Financial Statement Analysis, Budgeting and Forecasting, Tax Compliance, generally accepted accounting principles (GAAP) and International Financial Reporting Standards (IFRS) Knowledge, Financial Software Utilization. Cronbach's Alpha Reliability analysis. The collective Cronbach's Alpha coefficient for the model stands at .537, indicating a reliability level of 49%. Drawing from the literature review, the model with the aforementioned Cronbach's Alpha value of 53% is deemed suitable for further analysis.

The Influence of Financial Literacy on Consumptive Behavior Among High School Students in Jakarta

This research addresses the prevalent issue of consumerism and its relationship with financial literacy among high school students in Jakarta. Influenced by rapid urbanization, global cultural norms, and digital technologies, consumptive behavior is prominent, especially among urban youth. Recognizing financial literacy, which encompasses financial knowledge, attitudes, and behaviors, as a critical factor influencing consumerism, this study sought to examine this complex interplay. This study was collected through an online questionnaire and involved 120 respondents of high school students in Jakarta. The multiple linear regression analysis was performed using SPSS to analyze the results. The result revealed a moderate level of financial literacy among high school students in Jakarta, with a score of 63.55. However, this score is very close to the lower end of the moderate spectrum, indicating a widespread low level of financial literacy. At the same time, the high cost of living in Jakarta and the ready availability of consumer goods can lead to uninformed financial decisions and impulsive spending. The findings underscore the significant impact of financial literacy, which includes financial knowledge, behavior, and attitudes, on the consumptive behavior of these students. Therefore, fostering improved student financial attitudes and behaviors is essential for prudent financial management and spending. Given the scope of the study, future research could include additional variables that impact consumer behavior to provide a more comprehensive understanding.

New flawed consumers? Problem figuration, responsibility and identities in the English building safety crisis

Particular populations within the UK housing sector (most notably social housing tenants) have been conceptualised as ‘flawed’ consumers (Bauman, 1998) subject to stigmatisation in governmental and popular discourses for failing to enact the correct forms of consumption within the ‘grammars of conduct’ of the housing system. These valorise home ownership, prudent financial management and maintaining and enhancing properties. The post-Grenfell cladding scandal in England has resulted in an entirely new population – long leaseholders of properties with dangerous cladding – becoming constructed as flawed housing consumers, reconfiguring problematic behaviour and shifting where responsibilities for resolving the cladding crisis should be located. This paper explores the governmental narratives constructing leaseholders as flawed consumers, tracing the ways in which this operates not just via explicit statements, but also policy inaction, and the affective outcomes this generates. The paper explores how affected householders construct their identity, agency, responsibility and consumption practices and their reframed understandings of the housing system and government.

Financial Management Practices and Innovative Performances of the Nigerian SMEs Sub-Sector: A Conceptual Approach

Purpose: The role of small and medium-scale enterprises (SMEs) in economies all over the world is well established as a vital propeller of economic growth and other macroeconomic balances. Thus, the growth of SMEs has been at the center of scholarly debates since the last decade, with many factors including financial management practices as well as innovative practices, contributing to the extensive study of the performances of SMEs. However, with unpopular arguments in literature in the context of financial management practices and SMEs’ innovative performances, this study attempts to explore how prudent financial management practices could inform SMES’ innovative performances.
 Methodology: Being a conceptual paper, the methodology adopted is explorative in nature, where literature was extensively explored in line with the research aim and specific study objectives.
 Findings: The outcome of the explorative literature study revealed that financial management practices are important determinants of SMEs’ innovative performances. This shows that working capital management, investment appraisal and analysis, financial information system management, financing and capital structure management are practices that SMEs must incorporate to foresee and take advantage of innovative opportunities that will lead to innovative performances
 Unique Contribution to Theory, Policy and Practice: This conceptual paper adds fresh arguments to the existing literature on financial management practices, innovation, and SMEs' performances by hypothesizing a positive relationship between different financial management practices (particularly, working capital management, investment assessment practices, financing and capital structure management, as well as financial information system management) and the innovative performances of SMEs. Thereby, we are ushering in a gateway for new empirical studies on the phenomenon of financial management practices and innovative performances of SMEs. In addition, SMEs’ owners and manager can leverage on the implications of this study to inform practical decisions on various financial management practices.

A strategic assessment and evaluation of the major factors behind the high failure rate of many restaurants in the city of Beirut-Lebanon

Only 65% of restaurants survive beyond their fifth year, despite being a lucrative industry. Restaurant failure is prevalent in contemporary global business environments, including Lebanon. This study sought to explore external, internal, and personal factors that contributed to high closure rate of restaurants in Beirut despite its dining potential. A qualitative study using semi-structured interviews solicited owners' perception of restaurant failure. Using snowball sampling, we interviewed 28 restaurateurs who ceased operation before their fifth year of operation. Findings found internal more than external factors accounted for restaurant failure, with personal factors playing a significant role. The research recommends restaurateurs focus on prudent financial management by investing more on professional development, human resource management and marketing, and technological aids, and less on aesthetic or high-end items at start-up that reduce return on investments. Moreover, owners should develop and implement pragmatic and consistent business strategies to improve brand positioning and operational coherence.