JAKARTA. Ministry of Cooperative and Small Medium Enterprises recorded an increase in the number of micro, small, and medium enterprises (MSMEs or UMKM) from 57 million in 2014 to 58 million in this year. Being entrepreneur is likely to become a trend among young generation. The youths are proud to be independent and be able to create job opportunities, despite they are categorized as MSMEs. MSME become more attractive as the sector has been proven to be stable during economic crisis and slower economic growth. MSMEs also have significant contribution to domestic economic growth. According to Indonesian Chamber of Commerce and Industry, the contribution of MSMEs to Gross Domestic Product (GDP) has increased from 57.84% to 60.34% during the recent five years. During the same period, the employment absorption rate of this sector has increased from 96.99% to 97.22%.
Survives amid local and global pressures
JAKARTA. Ministry of Cooperative and Small Medium Enterprises recorded an increase in the number of micro, small, and medium enterprises (MSMEs or UMKM) from 57 million in 2014 to 58 million in this year. Being entrepreneur is likely to become a trend among young generation. The youths are proud to be independent and be able to create job opportunities, despite they are categorized as MSMEs. MSME become more attractive as the sector has been proven to be stable during economic crisis and slower economic growth. MSMEs also have significant contribution to domestic economic growth. According to Indonesian Chamber of Commerce and Industry, the contribution of MSMEs to Gross Domestic Product (GDP) has increased from 57.84% to 60.34% during the recent five years. During the same period, the employment absorption rate of this sector has increased from 96.99% to 97.22%.