"Currently, we want to create youngsters who are highly educated and enter (the world of) business," he said at the kick-off event for the Entrepreneur Hub Jakarta program here on Wednesday.
Efforts to create 1 million new entrepreneurs and increase the entrepreneurship ratio to 3.95 percent by 2024 have been initiated through the Entrepreneur Hub Jakarta program, which has been launched by the ministry in cooperation with the Industry, Trade, Cooperatives, and SMEs Office of Jakarta and several other parties.
According to Masduki, Indonesia needs to prepare excellent entrepreneurs because, of the around 64 million micro, small, and medium enterprises (MSMEs) in Indonesia, most are still micro-scaled or subsistence.
"In developed countries, the entrepreneurship ratio has reached 10 to 12 percent. Indonesia must be able to create highly educated young people who enter the business world, encourage young people or educated people to do business so that our entrepreneurs can compete on the global level," he said.
Given the ambitious target, Masduki admitted that there are still several things that will need attention and hard work to make Indonesia a developed country. For example, the nation requires an ecosystem that is connected digitally so that MSME players can have easier access to financing.
In addition, MSMEs also need to be connected to the supply chains of industries so they can become suppliers of raw materials and finished goods. That way, MSMEs will not be marginalized and remain a part of the industrial supply chains and industrialization.
"They include encouraging the consolidation of small businesses to cooperatives. It will be hard for micro-enterprise players to level up if they do business individually. By joining cooperatives, it will be easier for micro enterprises to develop," he said.
The Ministry of Cooperatives and SMEs is also continuing to encourage MSMEs to go digital.
"We hope this Entrepreneur Hub can continue to be implemented, (be) innovative, and sustainable, as well as increase the number and role of stakeholders in the development of entrepreneurship, which will increase the entrepreneurship ratio in Indonesia," the minister remarked.
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Translator: Kuntum Khaira, Raka Adji
Editor: Azis Kurmala
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