Empowerment Strategy on Micro, Small, and Medium Enterprises (MSMEs) during COVID-19 Pandemic in Indonesia: A Case Study of BRI Microfinance Center

Abstract

Many Micro, Small, and Medium Enterprises (MSMEs) are impacted by COVID-19 pandemic in Indonesia, especially the ones who hasn't fully adapted to the industrial revolution 4.0. Therefore, the right empowerment strategy is needed to develop the MSMEs and help them to strive during COVID-19 pandemic. Hence, this paper presents a research to evaluate the empowerment strategy of Indonesian MSMEs implemented by the BRI Microfinance Center (BMC), an independent research institution under BRI Group as the leader of microfinance in Indonesia. This research also analyse the potentials and problems faced by BMC in conducting their empowerment effort during the pandemic and formulate alternative strategies as recommendation for future improvement. As a case study with descriptive qualitative approach, the data collections are done by in-depth interviews on BMC's key people and literature studies on supporting documents, and triangulation. The result presented in this paper has important points to deeply understand the existing MSMEs empowerment strategy in Indonesia implemented by BMC, the strategy shifts during the pandemic, and recommendations for strategy improvements. This paper will also complete similar researches regarding the studies on empowerment strategy to enhance the MSME's competitiveness in Indonesia.