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Thursday, 13 August 2020 06:42

Ministry Urges SMES to Adapt, Innovate to Survive Covid-19

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Ministry urges SMEs to adapt, innovate to survive COVID-19

The Ministry of Cooperatives and Small Medium Enterprises (SMEs) has urged MSME players to adapt their businesses and focus on product innovation in order to survive the crisis created by the COVID-19 pandemic.
"One of the main things that must be done by MSMEs to survive in this period is (focus on) the necessity for adapting (their) business and exploring product innovation, so that they can adapt to market demand," Special Staff to the Minister of Cooperatives and SMEs, Fiki Satari, said in an online discussion in Jakarta on Wednesday.

In addition, Fiki said that government support for MSMEs in this difficult time is enmeshed with efforts to accelerate the digital transformation of MSMEs so that they can survive and carry out business activities, and also compete in the market.

The micro, small and medium enterprises (MSME) sector has been the most affected by the COVID-19 pandemic. Many MSMEs have lost their source of income and have been unable to pay installments. Many have been forced to close due to reduced income in wake of the pandemic.

During the online discussion on Wednesday, CEO of Midtrans, Erwin Tanudjaja, explained that the use of digital platforms has now become a necessity for MSMEs for selling products.

“We are fully aware, in this current situation, facilitating the transition and adaptation of hundreds of MSMEs in Indonesia to the online realm through digitalization efforts has become a priority,” Erwin said.

Meanwhile, CEO and co-founder, Moka Haryanto Tanjo, said that digital transformation will help MSMEs to survive in this difficult time.
"Not only in terms of online sales, digital-based operational management solutions are also important to be implemented in business," said Haryanto.
By utilizing a digital system in business operations, it is hoped that MSME players will become more responsive in analyzing sales and making important business decisions, he added. 
(ANTARA)

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