Open AccessTHE IMPACT OF THE COVID-19 PANDEMIC AND THE EFFORT OF MSME RESURRECTION IN INDONESIA
Author(s) -
Edy Prayitno,
Nerys Lourensius Tarigan,
Wahyu Eka Priana Sukmawaty,
Uyuunul Mauidzoh,
Deborah Kurniawati
Publication year - 2022
Publication title -
international journal of social science
Language(s) - English
Resource type - Journals
eISSN - 2798-3463
pISSN - 2798-4079
DOI - 10.53625/ijss.v1i4.1137
Subject(s) - pandemic , business , covid-19 , product (mathematics) , quality (philosophy) , outbreak , cash flow , production (economics) , new normal , small and medium sized enterprises , economics , finance , medicine , philosophy , geometry , mathematics , disease , macroeconomics , epistemology , pathology , virology , infectious disease (medical specialty) , biology
The COVID-19 pandemic has had a negative impact on the global economy, including Indonesia. The main victims of the COVID-19 outbreak are micro, small and medium enterprises (MSMEs). This article aims to examine the impact of the Covid-19 pandemic on MSMEs and provide recommendations that can be done to reduce business losses, survive the crisis and accelerate recovery. MSMEs were negatively affected by the Covid-19 pandemic in terms of sales, income, profits, and cash flow of business owners. MSME actors must adapt by reducing production, and reducing the number/hour of employees. More than that, product quality improvement and market expansion are important things to do. The majority of MSMEs (82.9%) in Indonesia have been negatively affected by this pandemic. Various policy recommendations were put forward to reduce the bad impact of the outbreak on MSMEs.