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More than 19.5-Million MSMEs Join Digital Ecosystem  

Minister of Cooperatives and Small and Medium Enterprises, Teten Masduki is being reported by Antara News that at least 19.5-million Micro, Small, and Medium Enterprise (MSMEs) have joined the digital ecosystem as of June 2022.

The number is expected to continue to grow as the Indonesian government is targeting to bring 30-million MSMEs into the digital ecosystem by 2024 with a value of IDR 4-trillion. According to BKPM, the sector contributes 61.07-percent or IDR 8,573,89-trillion to the total GDP and absorbs 97-percent of the total workforce, collecting up to 60.42-percent of the total investment for Indonesia.

In a virtual speech at a G20 side event on ‘B20 Indonesia Digital Economy to Support SDGs’, Masduki said that his ministry has readied several digital transformation programs involving all relevant stakeholders to accelerate the entry of MSMEs into the digital ecosystem.

The acceleration programs cover complete data collection on MSMEs, provision of facilities for MSMEs to take care of their business legality and obtain company registration numbers, training and guidance for MSME players, and business incubation at universities.

In addition, the ministry is also holding business matching on various occasions, including on the side lines of G20 events, and utilizing the ASEAN Access platform.

He said that his ministry is targeting to digitally “onboard” one million MSMEs related to the procurement of government goods and services immediately.

He further explained that the COVID-19 pandemic is the reason that the government is trying to accelerate the digital transformation of the MSME sector. “When the pandemic hit all of us, the adaptability of MSMEs to digital transformation during the pandemic proved to be a key factor in MSME resilience in Indonesia,” he pointed out.

Not only that, a World Bank study has also shown that 80-percent of MSMEs that have entered the digital ecosystem have shown better resilience amid the pandemic.

He informed that currently, 86-percent of MSMEs depend on an Internet connection to run their business, while 73-percent of MSMEs already have a digital marketplace (e-commerce) account, and 82-percent of them are promoting their products in cyberspace.

According to him, digital transformation in the MSME sector is a necessity. “The increase in the number of MSMEs who have done digital transformation is the foundation for Indonesia to optimize the potential of the digital economy,” he said.

 

Source: Antara News, BKPM

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