Micro, small and medium business enterprises (MSMEs) are vital for any nation’s economic well-being. Even so, MSEMs in Indonesia is often stifled by some problems such as scarcity of capital and narrow marketing reach. But there are some solutions to these problems. In order to give the business owner access to capital, the government has obligate banking to facilitate the distribution of MSMEs loans.
Then, how about the marketing reach? Limited product marketing sometimes indeed makes MSMEs harder to compete with larger industries. But MSMEs have adopted internet in their processes, so they can expand their product marketing globally. Moreover, the marketing of MSMEs products can be supported by various International events in Indonesia.
The marketing of MSMEs products also depends on the arrangement from the organizing committee. Usually, in every International event, the committee will always try to involve MSMEs in many divisions. At the latest Asian Games in Indonesia, some of the official merchandise of Asian Games are created by MSMEs. From 23 companies that are involved in the production of official Asian Games merchandise, 7 of them are MSMEs companies.
The organizing committee provides a booth for the business actors as well, so they can promote their products during the event. From all MSMEs’ products that have been promoted on the event, culinary is the best-selling beside the official merchandise of Asian Games 2018.
Since a lot of foreign guests in the International event, MSMEs can also expand their product marketing not only in the domestic area but also worldwide. Even after the event is over, it is possible for MSMEs to expand the business by exporting their products.
However, this goal would not be achieved if it is not supported by the business actors themselves. They should know the right strategy and make the most of this opportunity, by increasing the quality of the product and sell it at a reasonable price in the event, for instance. It even better if they could produce something unique, innovative, and reflect the Indonesian characteristics but still keeping up with the trend to attract potential buyers which are mostly millennials.