Regulation A+ Sebagai Alternatif Penghimpun Dana Untuk UMKM Dan Start-Up

Capital is a problem that is often faced by start-up companies and Micro, Small and Medium Enterprises (MSMEs). On the other hand, these activities are often the choice of Indonesia's lower and middle class as an effort to improve their economy. For this reason, the Government through the Financial Services Authority (OJK) provides steps to raise capital through a crowdfunding method using information technology (equity crowdfunding / ECF). ECF activities are a solution for start-ups and MSMEs to raise capital in ways that are almost similar to Initial Public Offering (IPO) activities by involving publishers, organizers, and investors. Unfortunately, even though it has been going on since 2018, business activities using the ECF as a real effort to provide additional capital have not been maximally implemented. This is because there are several records that can hinder the optimization of the ECF itself, such as the Investors criteria, shares Flexibility, and maximum securities ownership. This research is normative legal research using a conceptual approach, a statutory approach, and a comparative approach and the development of ECF regulations in Indonesia and reformation on investor limitation law in the ECF in Indonesia as research problems. The results of this study indicate that the application and regulation of the ECF in Indonesia still have various deficiencies. Therefore, a solution is needed by adopting several provisions in Regulation A + in America as an effort to overcome these deficiencies.

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COMMERCIAL BANKS AND THEIR EFFECT ON SMALL AND MEDIUM ENTERPRISES FINANCING IN RWANDA: A CASE STUDY OF KIGALI CITY AND SOUTHERN PROVINCE

AGROFOR ◽

10.7251/agreng2101117e ◽

2021 ◽

Vol 6 (1) ◽

Author(s):

Mutamuliza EULARIE ◽

Giramata AURORE

Keyword(s):

Financial Services ◽

Commercial Banks ◽

Small And Medium Enterprises ◽

Financial Industry ◽

Chi Square ◽

Southern Province ◽

Start Up ◽

Chi Square Test ◽

The Government ◽

Medium Enterprises

Commercial Banks worldwide are identified to be one of the key players in the financial industry that have positively affected individuals involved in business, and the economy at large, through the functions they perform in the economy. However, inadequate financing in the activities of Small and Medium Enterprises (SMEs) is still the major constraint faced by people involved in business activities. Even though the Government of Rwanda has made effort to improve the accessibility to credit, entrepreneurs still have some challenges to access financial services in order to improve their businesses. The purpose of this research was to assess the contribution of commercial banks in financing SMEs in Rwanda. A sample of 60 SMEs was selected in Kigali and Southern Province of Rwanda. Data was collected from the respondents through a structured questionnaire. The collected data were analyzed using descriptive statistics such as frequencies and percentage distributions. A Pearson Chi-Square Test was used to analyze the relationship between commercial banks and SMEs in Rwanda. The results indicated that the main purposes of loan application were start-up capital, working capital and expansion of businesses. The results also revealed that there was positive relationship between commercial banks and SMEs in Rwanda. The results revealed as well, that commercial banks in Rwanda played a crucial role in contribution to SME’s economic development and small and medium entrepreneurs who got credit from commercial banks expanded their businesses and increased their income.

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HALAL CHARACTERISTICS OF MICRO, SMALL, AND MEDIUM ENTERPRISES (MSMES) PRODUCTS IN PATEMON VILLAGE, KREJENGAN DISTRICT, PROBOLINGGO REGENCY

NOTARIIL Jurnal Kenotariatan ◽

10.22225/jn.6.1.3609.1-8 ◽

2021 ◽

Vol 6 (1) ◽

pp. 1-8

Author(s):

Dyah Ochtorina Susanti

Keyword(s):

Small And Medium Enterprises ◽

Comparative Approach ◽

Legal Research ◽

Conceptual Approach ◽

Product Certification ◽

The Public ◽

The Government ◽

Medium Enterprises

This research is motivated by the fact that there are still products of Micro, Small and Medium Enterprises (MSMEs) in Patemon Village, Krejengan District, Probolinggo Regency, which do not yet have a halal certificate, because the product does not meet the halal criteria and the public does not understand about the characteristics of halal. This study aims to analyze and provide an understanding about the characteristics of halal, especially on MSME products in Patemon Village, Krejengan District, Probolinggo Regency. The method used in this research is normative legal research with the statute approach, conceptual approach, and comparative approach. The result of this research showed that halal characteristics of MSME products in Patemon Village can be seen from 2 (two) aspects, namely the material and the process of making it or the event to get it. Therefore, it is suggested that the MSME product producers in Patemon Village to immediately take care of their halal product certification and to the government to disseminate information to the public regarding about characteristics of halal on MSME products.

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The Development of Digital Economy in Indonesia

10.31219/osf.io/jv8dy ◽

2020 ◽

Author(s):

Regina Joanita

Keyword(s):

Financial Services ◽

Small And Medium Enterprises ◽

Digital Economy ◽

Banking Services ◽

Start Up ◽

Rapid Changes ◽

Strategic Role ◽

Medium Enterprises ◽

Selection Of ◽

Financial Technology

Industrial Era 4.0 changed the entire chain and management of all branches of industry with various technologies. All financial-based services are developing rapidly in Indonesia marked by the emergence of many start-up companies. Rapid changes to digital banking and financial technology show that technology can play a strategic role in providing financial services that can be accessed quickly. The availability of digital banking services and products is highly valued by customers, both individuals and business people, especially in Micro, Small and Medium Enterprises (MSME). The large selection of digital banking products is certainly intended to motivate customers to love and be loyal customers and become part of the modern lifestyle. The presence of the digital economy is a new opportunity as well as a serious threat to the banking industry that is churning into digital banking in order to retain customers and attract new customers from millennials.

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EFFECT OF DIGITAL FINANCIAL SERVICES ON THE GROWTH OF SMES IN KENYA

African Journal of Empirical Research ◽

10.51867/ajer.v2i1.16 ◽

2021 ◽

Vol 2 (1) ◽

pp. 79-94

Author(s):

Nandwa Nelly Awinja ◽

Olanrewaju Isola Fatoki

Keyword(s):

Financial Services ◽

Social Networking Sites ◽

Small And Medium Enterprises ◽

Online Advertising ◽

Descriptive Analysis ◽

Business Environment ◽

Digital Platforms ◽

New Business ◽

The Government ◽

Medium Enterprises

The digital economy is a new business environment that enables enterprises to operate and provide services via the Internet and digital platforms. The study was on the effect of economic digitisation on growth of SMEs in Nairobi CBD. The specific objectives were to determine the effect of digital financial services, digital content, digital values and skills and the effect of online advertising on the growth of small and medium enterprises. The sample size in this study was 1000 SMEs formally registered in the study area from where a sample of 300 was randomly selected. The questionnaire was employed for the purpose of data collection from which out of the 300 questionnaires distributed, 180 were returned representing a 60% response rate. Guided by the research objectives, the data collected through the questionnaire were sorted, coded and presented in graphical and tabular forms for the purpose of descriptive analysis. To determine the significance of the relationship between the dependent and independent variables, a regression analysis was carried out using the Statistical Package of Social Sciences (SPSS) version 24. The study established that digital financial services were significant factors in ensuring growth of SMEs in Kenya. The study concluded that Mobile payments have become a favorite means of making financial transactions. The study also established that Applications available for mobile digital devices is expected to increase enormously. Digital payment technology has increased over the last decade. From the findings, it was concluded that Consumers grow more familiar with the different payment systems available and encourage more transactions. The SMEs should explore the possibility of forming a management committee to streamline economic digitisation issues. It is recommended that the organization clearly spell out economic digitisation procedures and criteria. This can stir positive growth among SMEs establishments and can result in effective management. The Government and the various agencies should also make provisions for training programs for SMEs to empower them in terms of economic digitisation. The SMEs should not rely on external professionals to assist in digitisation as this may be expensive. It is also recommended that the SMEs should adopt digital financial services. E-commerce will ensure increased profitability for small and medium enterprises. They should also have Social networking sites, which have proved to be popular online activities in relation to time, spent. They should also adopt Innovation driven entrepreneurship as it contributes to increase in sales revenue, market share, efficiency, customers’ loyalty and firm profitability.

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The Causal Effect of Access to Finance on Productivity of Small and Medium Enterprises in Vietnam

Sustainability ◽

10.3390/su11195451 ◽

2019 ◽

Vol 11 (19) ◽

pp. 5451 ◽

Cited By ~ 4

Author(s):

Mai Huong Giang ◽

Bui Huy Trung ◽

Yuichiro Yoshida ◽

Tran Dang Xuan ◽

Mai Thanh Que

Keyword(s):

Financial Services ◽

Small And Medium Enterprises ◽

Manufacturing Sector ◽

Causal Effect ◽

Bank Loan ◽

Firm Productivity ◽

Function Estimation ◽

Access To Finance ◽

The Government ◽

Medium Enterprises

In many developing countries, obtaining financial services at affordable rates and fair terms has been a significant challenge for small and medium enterprises (SMEs). However, this issue has not been paid much attention in Vietnam, even though SMEs account for about 95% of total enterprises and the financial market of the country has not been well developed. This study investigates the causal effects of access to finance on productivity of SMEs operating in the manufacturing sector in Vietnam. Productivity was measured as the total factor productivity (TFP) obtained by production function estimation using the Levinsohn and Petrin approach. Regarding financial accessibility, two factors covered the extent to which firms might have a bank loan or overdraft facility were employed. To study the causal inferences of access to finance on firm productivity, the research adopted the difference-in-differences (DID) approach, as well as the propensity score matching (PSM) coupled with DID technique. The empirical results indicated that improving the financial accessibility could directly enhance firm productivity. Particularly, it was shown that firms having access to a bank loan could significantly improve TFP by approximately 8.6% in the DID model and about 9% in the PSM-DID model. Meanwhile, the firm average TFP increased by approximately 12.3% and 15.7% in simple DID and PSM-DID models, respectively, when firms had an overdraft facility. These findings suggest that the government should put more effort into assisting SMEs in generating bankable projects, and create a sound and healthy financial environment to stimulate firms’ access to finance, which will ensure their sustainability and growth.

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Sistem Integrasi Proteksi & Manajemen Resiko Platform Fintech peer to peer (P2P) Lending dan Payment Gateway untuk Meningkatkan Akslerasi Pertumbuhan UMKM 3.0

Ihtifaz Journal of Islamic Economics Finance and Banking ◽

10.12928/ijiefb.v2i1.847 ◽

2019 ◽

Vol 2 (1) ◽

pp. 73

Author(s):

Yulianti Manan

Keyword(s):

Financial Reporting ◽

Financial Services ◽

Gap Analysis ◽

Small And Medium Enterprises ◽

Governance System ◽

P2p Lending ◽

The Government ◽

Model Platform ◽

Medium Enterprises ◽

Payment Gateway

The MSMEs (Micro, Small and Medium Enterprises) mentioned by the government as the backbone of the Indonesian economy are also still many that have not been touched by financial services or are unbankable. Currently in line with the development of information technology in financial services, the Fintech P2P lending ecosystem and payment gateways are growing rapidly and become one of the cash less payment options, an alternative option for new types of financing due to multi-advantages; fast, collateral-free and technology-based process which is a culture of supporting MSME generation to 3.0. The Fintech P2P Lending and Payment gateway business that is oriented towards IT Base financial reporting still requires a risk management and governance system to reduce and minimize the risk of fraud, bankruptcy, default and other risks. The purpose of this research is to analyze and study innovative solutions to the Fintech business model platform related to protection system management by establishing a central and strategic role between the regulator and Fintech providers. This research uses descriptive research design by using GAP Analysis to research and develop and collaborate on innovation, especially in Fintech business operating systems.

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Peluang dan Tantangan Initial Public Offering (IPO) Pada Perusahaan Start-Up di Indonesia

Indonesian Journal of Islamic Economics and Business ◽

10.30631/ijoieb.v5i2.294 ◽

2020 ◽

Vol 5 (2) ◽

pp. 30

Author(s):

Anggi Purnama Harahap ◽

Rahmad Ramadhan Hasibuan ◽

Lupitta Risma Candanni

Keyword(s):

Initial Public Offering ◽

Capital Market ◽

Qualitative Approach ◽

Going Public ◽

Public Companies ◽

Start Up ◽

The Government ◽

Public Offering ◽

General Guidance

This paper will discuss the initial public offering (IPO) for startup companies. Case study of PT Aplikasi Karya Anak Bangsa Go-Jek. The discussion in this paper will emphasize startups and their comparison with IPOs in ordinary companies (Case Study PT Jasa Armada Indonesia, Tbk) and other startup companies, namely PT Kioson Commercial Indonesia, Tbk) in 2017. A qualitative approach with normative descriptive and benchmark method is used to analyze the problem mention above. This research finds that in general, public regulations and general guidance in Law Number 8 of 1995 concerning the Capital Market and other related regulations sufficient to meet the requirements of going public for public companies. But with the development of startup companies in Indonesia, especially PT Aplikasi Karya Anak Bangsa (Go-Jek), planning to conduct an initial public offering encourages the government to immediately make decisions on the initial public offering process rules so that these arrangements will not only reach ordinary companies with the number of assets large but also able to reach start-up companies to contribute to the development of the national economy.

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Dampak dan Strategi Kebijakan Pengembangan Pembiayaan Dan Inklusifitas Keuangan Dalam Peningkatan Pembiayaan Bank Syariah Di Indonesia

BISNIS : Jurnal Bisnis dan Manajemen Islam ◽

10.21043/bisnis.v5i1.2950 ◽

2018 ◽

Vol 5 (1) ◽

pp. 133

Author(s):

Binti Nur Asiyah

Keyword(s):

Financial Services ◽

Small And Medium Enterprises ◽

Profit Sharing ◽

Third Party ◽

Strategy Of Development ◽

The People ◽

Need For Support ◽

The Government ◽

Medium Enterprises ◽

The Impact

This paper is motivated by the policy of the Financial Services Authority, in which Shariah Banking is able to compete and perform the intermediation function equally and felt by the people of Indonesia. The policy of the Financial Services Authority has a synergy between sharia banking and the Community in the form of easily accessible financing. This paper aims to determine the impact and strategy of development policy of Financing and financial inclusiveness in increasing the financing of Bank Syariah in Indonesia. The method used is qualitative approach, descriptive type. The result of this paper is the policy of development of financing and financial inclusions have a significant impact for the improvement of financing. The strategies for the policy to produce maximum financing; first the need for support from the government as regulatory publishers, universities, state enterprises to support the financing climate; secondly, the shift of regulatory thinking from the achievement of the quantity of funds alone, but also must be based on the number of people who can be served. Third Improvement of Sharia Banking Human Resources with the training policy, providing sufficient incentives and minimum standards for recruitment of sharia banking managers. Thirdly, sharia banking always considers Third Party Funds Management, Fourth; consider the profit-sharing rate used in the financing contract. Fifth, Sharia Banks have the opportunity to cooperate (chanelling) with Non-Governmental Groups that have been free from poverty, and maximize financing for the allocation of Micro Small and Medium Enterprises.

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Potential Systemic Risk Effects Of Credit Relaxation In The Financial Industry As The Effect The COVID-19

Jurnal Manajemen Bisnis dan Kewirausahaan ◽

10.24912/jmbk.v4i4.8661 ◽

2020 ◽

Vol 4 (4) ◽

pp. 87

Author(s):

Suwinto Johan

Keyword(s):

Qualitative Research ◽

Systemic Risk ◽

Financial Services ◽

Small And Medium Enterprises ◽

Financial Industry ◽

Direct Communication ◽

Risk Effects ◽

Industrial Sectors ◽

The Government ◽

Medium Enterprises

The granting of credit relaxation has caused polemics in the early days of the spread of COVID-19 in Indonesia. As a result of the spread of COVID-19, several industrial sectors have experienced unworkable conditions. Companies in this industry are not able to pay off their financial obligations to the Banking or Financing Company. The government asked financial industry players to provide credit relaxation. This was conveyed by the government, however, without being included with fixed procedures and direct communication with business players. In addition to this relaxation, there is a systemic risk. This research is in the form of qualitative research. This research focuses on the effect of credit relaxation on the finance and banking industries. This research proposes that the government determines the overall policy. Businesses, finance companies, and banks focus on the implementation procedures controlled by the Financial Services Authority. The government needs to take a more aggressive and comprehensive policy towards relaxation policies so that this relaxation policy can be carried out correctly to support the economy of small and medium enterprises again. If this policy is not comprehensive, it is feared that it will create higher new risks to the financial sector and the national economy.

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Implementation of Inclusive Finance in Empowering Micro, Small and Medium Enterprises (UMKM) at Micro Waqf Banks

EKONOMIKA SYARIAH Journal of Economic Studies ◽

10.30983/es.v5i1.4294 ◽

2021 ◽

Vol 5 (1) ◽

pp. 82

Author(s):

Rahma Jaziyatul Chikmiyah

Keyword(s):

Financial Literacy ◽

Financial Services ◽

Qualitative Method ◽

Small And Medium Enterprises ◽

Financial Inclusion ◽

National Strategy ◽

Classic Problem ◽

The Government ◽

Medium Enterprises ◽

The Impact

This study aimed to analyze the impact of the implementation of financial inclusion at Al-Fithrah Micro Waqf Bank regarding the empowerment of Empowering Micro, Small and Medium Enterprises (MSME). Even though MSME sectors have become a central foundation for the economy, the capital limitation is still considered a classic problem. It influences the government to release National Strategy Financial Inclusion to provide financial services that all levels of society can access. The indicators inclusive financial consists of access, usage and quality to realize empowerment through financing and assistance. This research used a descriptive qualitative method, and data were collected through interviews, observations, and documentation. The results showed that the financial inclusion component had been implemented but still has many potentials to be maximized. The components of access and usage have been appropriately implemented in terms of physical aspects and prices that are easily accessible to customers. These two components have an impact on increasing customer Islamic financial literacy. In the quality component, product variations are expected to fulfill the different business needs of customers. Meanwhile, financing has not significantly impacted fulfilling the welfare component’s capital needs because the nominal value is too small. Furthermore, business assistance has a more significant impact on improving the business and spiritual aspects of clients. Penelitian ini bertujuan untuk menganalisis dampak penerapan keuangan inklusif pada Bank Wakaf Mikro Al-Fithrah terhadap pemberdayaan UMKM di sekitarnya. Meskipun sektor UMKM telah menjadi fondasi yang cukup sentral bagi perekonomian, keterbatasan permodalan masih menjadi masalah klasik UMKM. Hal ini mendorong pemerintah untuk mengeluarkan Strategi Nasional Keuangan Inklusif yang bertujuan untuk memberikan layanan keuangan yang dapat diakses seluruh lapisan masyarakat. Indikator keuangan inklusif yang terdiri dari akses, penggunaan dan kualitas diterapkan untuk mewujudkan pemberdayaan UMKM melalui pembiayaan dan pendampingan. Penelitian ini menggunakan metode deskriptif kualitatif melalui pengumpulan data wawancara, observasi, dan dokumentasi. Hasil penelitian menunjukkan bahwa komponen keuangan inklusif telah diimplementasikan namun masih berpotensi untuk dimaksimalkan. Komponen akses dan penggunaan sudah terlaksana dengan baik dilihat dari segi fisik dan harga yang mudah dijangkau nasabah. Kedua komponen tersebut berdampak pada peningkatan literasi keuangan syariah nasabah. Pada komponen kualitas, variasi produk diharapkan dapat memenuhi kebutuhan modal nasabah yang berbeda. Sedangkan untuk komponen kesejahteraan, pembiayaan belum memberikan pengaruh signifikan untuk memenuhi kebutuhan permodalan karena nilai nominal yang terlalu kecil. Selain itu, program pendampingan usaha (HALMI) memiliki dampak yang lebih signifikan terhadap peningkatan usaha dan spiritual pelanggan.

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