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The SMEs resilience and sustainability strategy in Jambi

Author

Listed:
  • Muhammad Ramaditya

    (Head of Study Programe Management, Sekolah Tinggi Ilmu Ekonomi Indonesia Jakarta, Indonesia)

  • Enrica Randy

    (Sekolah Tinggi Ilmu Ekonomi Indonesia Jakarta, Indonesia)

  • Syahrul Effendi

    (Management Department, BINUS Business School Doctor of Research in Management, Bina Nusantara University, Jakarta,Indonesia)

Abstract

This study aims to find out how the impact of the Covid-19 pandemic on the survival of MSMEs in East Jambi District from the operational and financial side, the role and support of the government and the private sector in helping MSMEs, as well as the operational, financial and marketing strategies for the direction of business transformation from MSMEs to be able to endure. This study uses a descriptive quantitative approach, which is measured using descriptive statistical methods with excel and SPSS 25.0. The design of this research is a survey (as primary data). The results of this study are the Covid-19 pandemic has an impact on decreasing turnover, profits, and the number of buyers. 36% of respondents informed that cash adequacy is only sufficient for the next 1-3 months. The majority of MSMEs have also never received assistance from the government and the private sector. The operational and financial strategies carried out are cost efficiency by 38% and increasing operational hours by 18%, as well as marketing strategies by promoting to customers via social media by 30% and doing online sales by 27%. MSMEs in East Jambi Sub-district carry out operational and financial strategies so that they survive and continue to develop during the Covid-19 pandemic. MSMEs conduct cost efficiency as much as 38%, 30% of MSMEs promote to customers through social media such as Whatsapp, Facebook, and Instagram and 27% of MSMEs sell through online channels to customers in their marketing strategy. In addition, it is informed that the estimated turnover and profits of MSMEs in 2022 are fixed. The findings in this study provide an overview of the condition of MSMEs in East Jambi District due to the impact of the Covid 19 Pandemic in terms of operational and financial business sustainability and provide an overview of Government policies and assistance from the private sector to assist affected MSMEs. Key Words:Covid-19, Economic impact of MSMEs, Participation of government and private support, MSME business transformation

Suggested Citation

  • Muhammad Ramaditya & Enrica Randy & Syahrul Effendi, 2023. "The SMEs resilience and sustainability strategy in Jambi," International Journal of Research in Business and Social Science (2147-4478), Center for the Strategic Studies in Business and Finance, vol. 12(3), pages 10-21, April.
    • Handle: RePEc:rbs:ijbrss:v:12:y:2023:i:3:p:10-21
    DOI: 10.20525/ijrbs.v12i3.2558
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