2024 MSME Assistance in Indonesia

In 2024, the Indonesian government will again launch various assistance initiatives to support the Micro, Small, and Medium Enterprises (MSMEs) sector. This assistance aims to encourage post-pandemic economic recovery, strengthen the competitiveness of MSMEs, and increase economic inclusion across all levels of society. Several MSME assistance programs that were introduced or renewed in 2024 include:

1. Direct Cash Assistance (BLT) for MSMEs

The government continues to provide assistance in the form of BLT to MSMEs affected by economic conditions or difficult situations. This assistance is expected to help them maintain business operations and maintain business continuity.

2. Productive Micro Business Assistance Program (BPUM)

The Productive Micro Business Assistance, which previously existed, will be continued in 2024. BPUM provides direct cash assistance to MSMEs in the form of cash that can be used for business capital. The government ensures that this program is focused on micro businesses that have a turnover below a certain figure.

3. Interest Subsidy for MSME Credit

The government through the Revolving Fund Management Institution (LPDB) and national banks provides interest subsidies for MSME credit. With this assistance, MSME actors can obtain financing facilities with lower interest rates, so that they can accelerate the recovery and expansion of their businesses.

4. Simplifying Access to Financing

To overcome obstacles in financing, the government has also simplified credit and financing procedures for MSMEs. This program aims to provide easier access for MSME actors to obtain business capital from financial institutions.

5. Training and Skills Improvement

In addition to financial assistance, the government also provides various training programs for MSME actors. This training focuses on improving skills in marketing, business digitalization, and financial management, to help MSMEs adapt to developments and become more competitive in the market.

6. MSME Partnership and Development Program

The government also encourages the private sector and large companies to partner with MSMEs through partnership programs. The main goal is to help MSMEs to be more organized, expand their markets, and obtain coaching that can improve the quality of their products and services.

7. Digitalization of MSMEs

In 2024, the MSME digitalization program will be further strengthened. The government is working with digital platforms to facilitate MSMEs to market their products online. This program also includes training related to the use of information technology to optimize marketing and sales.

8. Assistance for MSMEs in the Tourism Sector

MSMEs engaged in the tourism sector will also receive special attention in 2024, with assistance and facilities aimed at supporting the recovery of the tourism sector affected by the pandemic. This program includes assistance to improve infrastructure, training, and marketing of tourism products.

Overall, the MSME assistance provided in 2024 focuses on empowering and strengthening the MSME sector so that they can adapt quickly in the digital and globalization era, and accelerate national economic recovery.

HOW TO REGISTER FOR MSMES IN 2024 IN INDONESIA

To register for MSME assistance in Indonesia, especially such as the Micro Business Productive Banpres (BPUM) or other assistance programs, business actors need to follow several steps that have been determined by the government or institutions providing the assistance. The following is a general way to register for MSME assistance, especially in the form of BPUM:

1. Check Eligibility

Before registering, make sure that the business you run meets the requirements as a recipient of assistance. Some general criteria for recipients of MSME assistance include:

Micro businesses with a turnover of less than IDR 300 million per year.

Businesses that are already running (not new businesses).

Not currently receiving other social assistance.

Indonesian citizens (WNI).

Have a KTP (Resident Identity Card) and NPWP (Taxpayer Identification Number) for those who have a business.

2. Check Registration at the Cooperatives and MSME Service or BRI

BPUM registration is done online and can be done through several channels designated by the government. There are two main ways to register, depending on the program running:

Through the Regency/City Cooperatives and MSME Service: Usually the local government through the cooperative service will open registration and ask business actors to fill out a registration form.

Through Himbara Banks (BRI, BNI, BTN, Bank Mandiri): Several assistance programs such as BPUM are carried out through banks of the State-Owned Bank Association (Himbara) designated by the government. You can visit the bank branch office for more information and to register.

3. Filling out the Registration Form

If you register through the Cooperative and UMKM Service, you will usually be asked to fill out an online form available on the official website of the service or through the application system that has been provided. This form will ask for data such as full name, business address, ID card number, telephone number, and information about your business.

If you register through a bank, you can come directly to the nearest bank office with the necessary documents. The bank will assist in the registration process and data verification.

4. Waiting for Verification

After registration, your data will be verified by the authorities (Cooperative and UMKM Service or the designated bank). The verification process will include checking personal data, completeness of documents, and eligibility criteria as a recipient of assistance.

5. Announcement of Assistance Recipients

The government or related institutions will usually announce the names of assistance recipients who have passed verification. This announcement can be made through:

The official website of the Cooperative and UMKM Service.

Social media or official bank channels (if you register through a bank).

A physical notice board that is usually installed at the local Cooperative Service office.

6. Disbursement of Aid

After being declared as a recipient of aid, the next stage is the disbursement of aid. If aid is provided through a bank, funds will be directly credited to the bank account you registered. If through the Cooperatives and UMKM Service, aid can be distributed in the form of cash or shopping vouchers.

7. Payment and Usage Conditions

Make sure you use aid funds in accordance with applicable provisions, namely for business development purposes, such as purchasing raw materials, working capital, or other operational costs.