Innovation in Financial Governance and Accountability for Small Business Growth

Abstract

Innovation in financial governance and accountability forms a crucial foundation for supporting the sustainable growth of small enterprises. Through adaptive and technology-driven managerial approaches, small business actors can enhance efficiency, transparency, and access to financial resources. This study presents a literature review drawn from various academic journals to evaluate the role of governance innovation in strengthening financial accountability and improving the competitiveness of small businesses. The findings indicate that the adoption of financial technologies, the integration of accountable reporting systems, and the enhancement of managerial capacity significantly contribute to the stability and expansion of small enterprises. These innovations are not only instrumental in mitigating operational and financial risks but also in building investor trust and facilitating better decision-making. The review underscores that effective financial governance combined with innovation enables small businesses to navigate dynamic market conditions and fosters inclusive economic development. Therefore, continuous improvement in financial accountability and governance is essential for ensuring long-term business growth.