Since Indonesia first announced its first Covid-19 cases that would later spur lockdowns across parts of the country, Indonesian SMEs have faced a tough time weathering out the economic storm.
Indonesia’s Coordinating Ministry of Economic Affairs admitted that Indonesian SMEs are one of the groups hard hit in the coronavirus pandemic.
The ministry has received reports of plunging sales across the board for the country’s small businesses.
News of Indonesian SMEs’ downward trend in sales was made known from a report by the Business Development Services Indonesia Association.
The association conducted a survey among 6,000 Indonesian SMEs across the country between April and May 2020.
“The government realizes that Indonesian SMEs are truly one the worst affected by the Covid-19 virus,” said Iskandar Simorangkir, Deputy Minister for Macroeconomic and Financial Coordination at the Coordinating Ministry for Economic Affairs.
The survey results indicated that 36.7 percent of Indonesian SMEs have made zero sales since the pandemic.