This is supported by a number of government policies in assisting MSMEs during the difficult times of the COVID-19 pandemicBandung (ANTARA) - Despite experiencing a slump when the COVID-19 pandemic began, the micro, small and medium enterprises (MSMEs) showed improvement in the second quarter of 2021, Minister of Cooperatives and Small and Medium Enterprises Teten Masduki said. "This is supported by a number of government policies in assisting MSMEs during the difficult times of the COVID-19 pandemic," Masduki said during the 6th International Conference on Management in Emerging Market 2021 which was held virtually on Wednesday.
This year, the event was held under the theme "Nurturing New Business Landscapes to Embrace the Next Normal".
This event was organized by the Bandung Institute of Technology (ITB) School of Business and Management (SBM) in collaboration with Mara Technology University, Yamaguchi University, MDI Ventures, and the IEEE Indonesia Section.
MSME players face several challenges due to the COVID-19 pandemic. These include difficulties in obtaining capital and in accessing capital from banks, and problems in obtaining raw materials due to reduced supply, Minister Teten said on the occasion.
With assistance from the government, MSMEs could overcome these challenges. Assistance from the government included tax relief, relaxation of bank loans, the ability to use digital technology to expand the market, he said.
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When MSME players can take advantage of digital technology, their product market can be exported. Therefore, the Ministry of Cooperatives and SMEs is also encouraging MSMEs to improve their product quality so that they can be accepted in the global market.
"We need support from various parties to accelerate the recovery of the MSME sector, such as accelerating the application of technology by MSMEs," Teten said.
Meanwhile, Director of SMESCO Leonard Theosabrata added that Indonesian SMEs must be able to win global competitions to survive in the new normal.
Indonesian SMEs must take advantage of the uniqueness of Indonesian culture in creating products to win the competition, Leonard suggested.
SMESCO encourages the use of this method for young Indonesian entrepreneurs.
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"Back to the roots, back to the village, we try to implement this method for young Indonesian entrepreneurs," Leonard said.
To help in the recovery of SMEs during the pandemic, SMESCO has also created an SME database that the government can use.
With a database in place, the policies taken by the government in dealing with SMEs can be appropriated.
Meanwhile, the Dean of SBM ITB, Utomo Sarjono Putro hoped that "The 6th International Conference on Management in Emerging Market 2021" would be a collaboration between academics, government, and practitioners in generating ideas that can help SMEs in the new normal.
The event was also inaugurated by the Rector of ITB, Professor Reini Wirahadikusumah and attended by participants from various countries.
Apart from Indonesia, participants from the United States, Japan, Australia, Thailand and the Netherlands attended the event.
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Translator: Ajat S, Azis Kurmala
Editor: Rahmad Nasution
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