Pengaruh Modal Kerja terhadap Profitabilitas UMKM Bidang Kuliner di Pasar Cidu Kota Makassar
DOI:
https://doi.org/10.30640/jumma45.v5i2.8130Keywords:
Culinary Businesses, Culinary MSMEs, Financial Performance, Profitability, Working CapitalAbstract
This study aims to analyze the effect of working capital on the profitability of culinary MSMEs at Cidu Market, Makassar City. Working capital is an important factor in supporting business operations, fulfilling production needs, and increasing the ability of MSMEs to generate profits. This study employed a mixed-methods approach by combining quantitative and qualitative approaches. Quantitative data were collected through questionnaires using a Likert scale, while qualitative data were obtained through interviews with MSME owners. The research sample consisted of 45 culinary MSME owners selected using census sampling. Data were analyzed using simple linear regression with the assistance of SPSS software. The results showed that working capital had a positive and significant effect on the profitability of culinary MSMEs at Cidu Market, Makassar City. The coefficient of determination (R²) was 0.593, indicating that working capital explained 59.3% of the variation in profitability, while the remaining 40.7% was influenced by other factors outside the research model. These findings highlight the importance of effective working capital management in improving profitability and supporting the sustainability of culinary MSMEs.
References
Ashworth, M. (n.d.). Working capital management. ACCA. Retrieved November 14, 2025, from https://www.accaglobal.com/gb/en/student/exam-support-resources/fundamentals-exams-study-resources/f9/technical-articles/wcm.html
Creswell, J. W., & Creswell, J. D. (2018). Research design: Qualitative, quantitative, and mixed methods approaches (5th ed.). SAGE Publications.
Field, A. (2018). Discovering statistics using IBM SPSS statistics (5th ed.). SAGE Publications.
Hair, J. F., Black, W. C., Babin, B. J., & Anderson, R. E. (2019). Multivariate data analysis (8th ed.). Cengage Learning.
Harahap, S. S. (2009). Analisis kritis atas laporan keuangan.
Ibrahimy, M. F. A., & Juliarto, A. (2018). Hubungan antara modal kerja dan profitabilitas: Studi perusahaan manufaktur di Indonesia yang terdaftar di BEI. Diponegoro Journal of Accounting, 7(4), 1–8. https://doi.org/10.31289/jab.v4i1.1533
Junaedi, J., & Wahab, A. (2023). Hipotesis penelitian dalam kesehatan. Jurnal Pendidikan dan Teknologi Kesehatan, 6(2), 142–146. https://doi.org/10.56467/jptk.v6i2.98
Kasmir. (2016). Analisis laporan keuangan. RajaGrafindo Persada.
Kasmir. (2019). Analisis laporan keuangan. PT Rajagrafindo Persada.
Khabibah, D. K., Rokhman, N., & Rianawati, T. (2025). Pengaruh modal usaha, inovasi produk, dan strategi pemasaran terhadap persepsi profitabilitas pelaku UMKM kuliner di wilayah Pekalongan. E-Bisnis: Jurnal Ilmiah Ekonomi dan Bisnis, 18(1), 409–420. https://doi.org/10.51903/e-bisnis.v18i1.2786
Kristianto, G. (2023). Analisis faktor yang memengaruhi profitabilitas UMKM di Kecamatan Kalimanah Purbalingga. Applied Research in Management and Business, 3(2), 1–19. https://doi.org/10.53416/arimbi.v3i2.175
Meriyanti. (2023). Pengaruh efisiensi modal kerja terhadap profitabilitas pada usaha mikro pedagang sembako di Kecamatan Nipah Panjang [Undergraduate thesis, Universitas Jambi]. Universitas Jambi Repository.
Miles, M. B., Huberman, A. M., & Saldaña, J. (2014). Qualitative data analysis: A methods sourcebook (3rd ed.). SAGE Publications.
Neuman, W. L. (2014). Social research methods: Qualitative and quantitative approaches (7th ed.). Pearson.
Nurhayana, N., et al. (2025). Strategi peningkatan profitabilitas UMKM makanan dan minuman di Kota Palu. Jurnal Samudra Ekonomi dan Bisnis, 16(3), 572–582. https://doi.org/10.33059/jseb.v16i3.11116
Pallant, J. (2020). SPSS survival manual (7th ed.). Routledge. https://doi.org/10.4324/9781003117445
Priyatno, D. (2020). SPSS untuk teori dan aplikasi. MediaKom.
Rahmiyati, N., Wahidhani, E. H., Fitrianingsih, D., & Rachmawati, T. (2024). The effect of working capital management, operational efficiency, and profitability on financial sustainability of SMEs. International Journal of Business, Law, and Education, 5(2), 2683–2693. https://doi.org/10.56442/ijble.v5i2.918
Riyanto, B. (2013). Dasar-dasar pembelanjaan perusahaan. BPFE.
Rossa, E., Machdar, N. M., & Manurung, A. H. (2025). Dynamics of working capital, profitability, and capital structure: Implications for corporate sustainability in the context of effective tax rates. International Journal of Economics, Management and Accounting, 2(1), 298–314. https://doi.org/10.61132/ijema.v2i1.437
Ruhadi, R., Mai, M. U., & Sudradjat, S. (2024). Working capital and financial performance of Indonesian manufacturing companies: Before and during COVID-19. International Journal of Applied Business Research, 6(1), 66–80. https://doi.org/10.35313/ijabr.v6i01.338
Saragih, V. G., et al. (2025). Pengaruh literasi keuangan dan financial technology terhadap profitabilitas UMKM sektor kuliner Kota Pematang Siantar. eCo-Fin, 7(2), 897–909. https://doi.org/10.32877/ef.v7i2.2308
Sarwono, J. (2018). Panduan lengkap analisis data dengan SPSS. Andi.
Sathish, K., & Muskan, S. (2025). Impact of working capital management on a firm's profitability: A study on Bharti Airtel. International Journal of Advanced Engineering, Management and Science, 11(4), 69–73. https://doi.org/10.22161/ijaems.114.8
Sekaran, U., & Bougie, R. (2020). Research methods for business: A skill-building approach (8th ed.). Wiley.
Sihombing, P., & Zakchona, E. (2024). Determinants of profitability, liquidity, solvency, and activity ratios on the stock price with dividend payout as moderating variable. Jurnal Ekonomi dan Bisnis, 27(2), 1–24. https://doi.org/10.24914/jeb.v27i2.10268
Sugiyono. (2022). Metode penelitian kuantitatif, kualitatif, dan R&D. Alfabeta.
Supiyadi, D. (2023a). The effect of working capital management on the profitability of small and medium enterprises: Meta-analysis. Journal of Business and Management Inaba, 2(1), 9–28. https://doi.org/10.56956/jbmi.v2i01.201
Supiyadi, D. (2023b). Working capital cycle and profitability of SMEs: A meta-analytic review. Journal of Small Business Finance, 18(2), 101–119. https://doi.org/10.56956/jbmi.v2i01.201
Wahyono, D., Supriandi, & Pontoan, D. R. (2023). Menguji hubungan antara strategi pemasaran, loyalitas pelanggan, keterlibatan karyawan terhadap profitabilitas UMKM kuliner di Kota Bandung. Jurnal Bisnis dan Manajemen West Science, 2(2), 106–117. https://doi.org/10.58812/jbmws.v2i02.337
Wahyono, T., Mandasari, R., & Rahman, A. (2023). Cash flow dynamics and profitability of culinary MSMEs. UMKM Journal of Management Studies, 6(3), 55–63.
Downloads
Published
How to Cite
Issue
Section
License
Copyright (c) 2026 Andi Miftah Farid, Alamsjah Alamsjah, Firman Syah
This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
