Resilience Strategy for Micro, Small and Medium Enterprises after the Covid-19 Pandemic: Lessons from Indonesia
Keywords:
Covid-19 Pandemic, MSMEs, Resilience StrategyAbstract
The Covid-19 pandemic has resulted in significant impacts on Micro, Small, and Medium Enterprises (MSMEs) in Indonesia, which include decreased consumer demand, supply chain disruptions, and limited working capital. However, the sector also shows great potential to recover and thrive through various resilience strategies. This article aims to discuss the key strategies implemented by MSMEs in Indonesia post-pandemic to maintain and improve business sustainability. Literature analysis is the method of this research. The results of this study show that the strategies to maintain and improve business sustainability are: (1) digitalization and technological transformation by increasing digital literacy to expand market reach, (2) product and service diversification by encouraging product innovation and the development of new services relevant to current consumer needs, (3) strengthening networks and collaboration, both with large companies and business communities, is also a vital strategy for sharing resources and market opportunities, and (4) capacity and skills development through training, workshops, and mentorship programs help improve the managerial and technical capabilities of MSME entrepreneurs.
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