Abstract
Economic disruption by The COVID-19 pandemic has hit Indonesian economic heavily. The purpose of this study is to provide an overview of government policies and business strategies in Indonesia amid the COVID-19 pandemic. This study employed a qualitative approach with data sources of literature reviews. The results of the study indicate that the Indonesian Government has responded to the pandemic by issuing some policies regarding SMEs. There are several policies issued regarding the Micro and SMEs business. The policy is breakdown into five schemes namely (1) Social support; (2) SMES tax incentives; (3) Credit restructuring and relaxation (4) Working capital support stimulus; and (5) Collaboration with State-owned enterprise as the off-taker for SMES products. On the other hand, there are some SMES business strategies in adjusting amidst the Covid-19 pandemic in Indonesia. Those strategies are (1) Products innovation; (2) Customer and stakeholder relationship management;(3) Digital marketing and distribution; and (4) Strategic Agility.
Highlights
COVID-19 is caused by a coronavirus which attacks the respiratory system
This study aims to describe SMES business strategy in Indonesia as well as the Government policy concerning the Small and medium-sized enterprises (SMEs) amid the COVID-19
Government Policy Respond According to the report from the Organization for Economic Co-operation and Development (OECD), the Covid-19 pandemic is affecting the economy from the supply and demand side
Summary
COVID-19 is caused by a coronavirus which attacks the respiratory system This virus first appeared in China's Wuhan Province in December 2019. The COVID-19 pandemic has had a tremendous impact on the world economy and has even changed the order of life before 2020. Various policies in the economic sector have been issued by governments around the world to respond to the COVID-19 pandemic. Until now there has been no single effective policy formula that can be applied by the majority of countries in the world because this health problem is closely related to the habits of life and social order in society. The sluggish trade sector, due to the COVID-19 pandemic, does affect large-scale industries. The results of a survey conducted by UReports (Diandra & Rahmatullah, 2020) of 756 young entrepreneur respondents in Indonesia regarding the impact of COVID-19, are as follows: 1. As many as 21% of respondents stated that their business had stopped because of the spread of the corona virus
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