Jakarta, 3 February 2023 – To ring in the new year, KoinWorks has released a comprehensive series covering Indonesia’s economic landscape in 2023 on the online video platform, YouTube. Titled Catatan Bisnis (Business Notes) 2023, KoinWorks enlists economic and financial authorities to present a complete take on macroeconomic conditions, domestic investment projections and of course, the role of Micro, Small, and Medium Enterprises (MSMEs) in helping the economy prosper.
Joining Benedicto Haryono, CEO of KoinWorks are the economists Mr. Rudy Salahuddin (Deputy for the Coordination of Digital Economy, Employment and MSMEs at the Coordinating Ministry for Economic Affairs of the Republic of Indonesia), Mrs. Masyita Crystallin (Economist & Special Staff to the Minister of Finance for Fiscal and Macroeconomic Policy Formulation) and venture capitalists: Mark Bruny (Head of Global Capital Market Lendable & Board of Directors CFA Society Indonesia), with moderation from Ferry Irwandi, an online financial content creator.
MSMEs as the Backbone of Indonesian Economy in 2023
The leaders of government, economists, business professionals, and investors joining this video series all stressed that Indonesia’s domestic economy is relatively strong, and that MSMEs will be the key source of Indonesia’s economic growth.
Digital Economic specialist, Mr. Rudy Salahuddin emphasizes that “Economic recovery is also inseparable from the role of MSMEs which are critical engines of the economy –considering that 99% of business types in the country are MSMEs.”
Macroeconomic expert and Finance Ministry adviser Masyita Crystallin says, “In the midst of geopolitical dynamics, Indonesia’s domestic economy is growing quite rapidly. This can be seen from the high increase in the number of retail investors, both during and after the pandemic. We have also seen an increase in the number of MSMEs. We must maintain this domestic demand, so that this growth can be maintained. This can be our weapon to face global economic challenges this year.”
Promising Investment Opportunities
From the investment side, Indonesia has interesting opportunities for 2023. According to venture capitalist Mark Bruny’s point of view, Indonesia still has an advantageous position, even amidst the current global economic turmoil, because the population is dominated by the productive age range of about 30 years old.
“One of the keys to economic growth is economic productivity. The majority of Indonesia’s demographic is at an age where they are focused on building assets and saving. This is important so that the level of investment (in the country) can be maintained,” said Mark.
Furthermore, Mark stressed the importance of prioritizing economic development throughout the year. He adds, “Before investing, investors must also focus more on the value of an asset in the long term, beyond the returns offered in the short term.”
The Role of KoinWorks in the Growth of MSMEs
As a neobank specifically for MSMEs, KoinWorks has advocated for the understanding of the pivotal role that MSMEs play in the economy. For the last 7 years, we have always innovated to provide products and services to help them grow.
“We are happy to have helped 850,000 MSMEs receive financial assistance. More than 25% of these MSMEs received their first financing from KoinWorks, and we’ve learned that this kind of support provides a pillar of strength that compounds to support other small businesses within the MSME ecosystem. It is fantastic to hear experts recognize and reverberate that MSMEs have to be uplifted and that we are all here together to make it happen.” said Benedicto.
KoinWorks also invites users and the public to take part in the mission of making MSMEs successful. “Currently the MSME financing gap is still quite large, and access to finance is still the first obstacle for MSMEs in developing. Through KoinWorks, we offer a way for all members within a community to take part in collaboration for the advancement of MSMEs while developing their assets,” explained Benedicto.
The Catatan Bisnis 2023 video series is presented by KoinWorks in Bahasa Indonesia and can be watched on the official KoinWorks YouTube channel via the link bit.ly/CatatanBisnis2023.
