Indonesian MSMEs Need Fintech Companies to Grow Business, Minister Says

“About 16 percent of MSMEs have already been connected to digital platforms. There is an increase of 13 percent or 10.2 million MSMEs at the start of this year,” the minister said.
“The main problem of MSMEs is their financial statement. It is hoped that the problem will be resolved.” 

The minister also said that various programs and access to financial services were provided by the government to help MSMEs affected by the Covid-19 pandemic.

Under this program, debt payments will be delayed by six months for micro-loan credit for MSMEs affected by Covid-19. The government also provides interest-free microcredit programs (KUR) under 10 million rupiahs ($706) and provides cash transfer of 2.4 million rupiahs ($169) to MSMEs.

He stressed the importance of obtaining financial services for micro-businesses as they need easy access to financing. He also said that the new job creation law will help in digital transformation and the creation of single integrated data for MSMEs.

(Writer: Elsa Catriana | Editor: Erlangga Djumena)

Source: https://money.kompas.com/read/2020/11/13/123900926/menkop-teten--fintech-sangat-dibutuhkan-pelaku-umkm.