System of financial efficiency indicators for SMEs in the textile sector of Medellin-Colombia

Abstract

New global challenges require companies to develop effective decision-making methods that generate value and increase the productivity of their assets. The objective of this article is to design a system of financial efficiency indicators for small and medium-sized companies in the textile sector of Medellín-Colombia, evidencing a quantitative, descriptive approach, where the following were applied for data collection: An interview with 10 experts methodological and thematic of the subject under study, and an interview with a random sample of 78 managers, accountants and administrators of the companies under study, applying a reliability, descriptive, correlational and structural analysis to study the data. It was found as results that the system of indicators is useful and viable for the SMEs of the textile sector of Medellín-Colombia that apply it in its entirety, due to its high degree of correlation between variables, thus fostering its sustainability and growth in the market, concluding that the proposed system allows the quantification and identification of the areas that need greater attention, management and intervention.