Deputy for micro enterprises at the Ministry, Yulius, said in Jakarta on Monday that the government is seeking to devise a plan that promotes the use of technology and the creation of innovation to boost the value of MSMEs and their products.
He added that the ministry has organized a variety of training and coaching activities to help MSMEs connect with larger businesses and become their suppliers.
"Though small businesses do possess potential, they need support from the government to thrive," he said.
The official informed that his side has been providing a financing facility to MSMEs in the form of the People's Business Credit (KUR) scheme that offers a competitive interest rate of six percent.
He then highlighted the ministry's commitment to supporting the determination of the incoming government led by President-elect Prabowo Subianto to create more quality job opportunities, promote entrepreneurship, develop the creative industry, and ensure the continuation of infrastructure development for the Golden Indonesia 2045 vision.
To bolster the overall quality of the business ecosystem in Indonesia, the government needs to elevate the business scale of Indonesian MSMEs, which are currently dominated by micro enterprises (98 percent), Yulius said.
He then drew attention to the government's goal of increasing Indonesia's entrepreneurship ratio from 3.4 percent to 4 percent this year.
To achieve that end, he added, the Ministry has initiated the Entrepreneur Hub, a program aimed at guiding and encouraging digitally capable young talents to start a business.
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Translator: Shofi A, Tegar Nurfitra
Editor: Azis Kurmala
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