Minister of Cooperatives and Small and Medium Enterprises (SMEs) Teten Masduki has urged micro, small, and medium enterprises (MSMEs) to make business plans to develop their businesses.
At the “National MSME Gathering” event here on Friday, the minister noted that, on average, MSMEs do not have a business plan, so they face problems when the need for developing the business arises. Therefore, it is necessary to have a team that can be consulted at any time to help tackle the obstacles that MSME players face.
In addition, he asked all MSMEs to join the digital ecosystem and formalize their businesses. MSME players are only required to obtain a Business Identification Number (NIB) and then register online through the Online Single Submission (OSS) system, he said.
By legalizing their business, MSMEs can access various financing plans, obtain marketing license or halal certifications, and enter into business contracts with other parties. If MSMEs remain informal, they will face difficulties in accessing the various facilities provided by the government or other stakeholders, the minister said.
“We want them to be formal, and every MSME, no matter how small, must have a business plan. Now, a lot of venture capital (firms) are willing to provide financing to MSMEs even though they are still small because (venture capital firms can) see from the business plan that it (the business) will grow,” Masduki explained at the event organized by ride-hailing company Grab Indonesia.
Meanwhile, President of Grab Indonesia, Ridzki Kramadibrata, said that his company and digital payment service provider OVO have launched the “Integrated MSME Solution” program to make it easier for MSME players to get consumers, licensing, and funding.
The minister lauded Grab Indonesia for launching the program.
“Today, I heard that Grab has an incubator (program) to assist MSMEs to grow by providing consultations on how to access financing, develop business capacity, and so on. I think this will have a big impact on MSME players who want to be successful and want to grow,” he remarked.
Source: Antara News