scholarly journals The Legal Reform of Venture Capital Financing Institutions As a Financing Alternative for Micro Small and Medium Enterprises

FIAT JUSTISIA ◽  
2021 ◽  
Vol 15 (1) ◽  
pp. 13-24
Author(s):  
Tri Setiady
Keyword(s):  
Venture Capital ◽  
Small And Medium Enterprises ◽  
National Development ◽  
Legal Reform ◽  
Bank Loans ◽  
Business Partner ◽  
Usual Practice ◽  
Capital Financing ◽  
Medium Enterprises

So far, the role of venture capital has not been optimal, or it can be said that while it is not working. In practice, in Indonesia, venture capital companies carry out their business like banking. That until now, in general, venture capital companies practice more as credit providers as the usual practice of providing bank loans. All requirements and conditions requested for a business partner company (actually: a debtor) are like a bank in giving credit. Therefore a legal reform of venture capital financing institutions is needed to optimize financing for micro, small, and medium enterprises to realize national development.

scholarly journals THE ROLE OF ISLAMIC CAPITAL MARKET FOR MICRO, SMALL, AND MEDIUM ENTERPRISES (MSMES) THROUGH SYNERGY OF MUTUAL FUND AND VENTURE CAPITAL INSTITUTION

2017 ◽  
Vol 3 (1) ◽  
pp. 81-112
Author(s):  
Yulizar D. Sanrego
Keyword(s):  
Venture Capital ◽  
Capital Market ◽  
Mutual Fund ◽  
Small And Medium Enterprises ◽  
Proposed Model ◽  
Investment Manager ◽  
Corporate Venture ◽  
Medium Enterprises ◽  
Fund Investment

It is worldly known that one of the main obstacles which is often faced by the micro, small, and medium enterprises (MSMEs) practitioners is the ability to access sources of funding. At the time where the absorption of banking credit to MSMEs is still very limited, the role of sharia capital market is considered as an alternative to support this limitation. Expanding the role of sharia capital market finds it moment when Indonesia Finance Service Authority (FSA) issued regulations that provide space for the capital market to also active in real sector businesses. In accordance with the FSA Rules N0.37/2014, mutual fund (unit trust) in the form of Collective Investment Contract (CIC) - Limited Investment/ Participation Fund (LPF) has the objective to pave the way for mutual fund investors to make direct investments in real investments. The proposed model that might be realized to smoothen the intermediary role of sharia capital market to the development of MSMEs is through the hybrid model that might linking mutual fund/investment manager and corporate, particularly venture capital. Using Analytical Network Process (ANP) approach this paper indicates that with the value of rater agreement 1.0, the research found that there are four main cluster problems which become an obstacle the proposed model, namely: (a) the reputation of mutual fund/investment manager; (b) investment grade rating of corporate (venture capital); (c) risk appetiate of investor as shahib al-mal; and (d) government regulation. Policy recommendation that might become solution, according to the value of rater agreement 1.0  is sequentially as follow, namely: (a) fully support from government; especially for a relatively new mutual fund with no experience in the capital markets industry; (b) Corporate (venture capital) should be able to offer Islamic Microfinance Finance Institutions (IMFIs) and MSMEs that have good business feasibility to the mutual fund/investment manager as well as investor; (c) the government should be able to guarantee legal certainty in the context of protection, including advocacy for investors; and last but not least (d) There is an extremely hope that investors could change their investment behavior paradigm, from risk averse to risk taker.Keywords: Sharia capital market, Mutual fund, Venture capital, MSMEJEL Classification: G1, G23, G24

scholarly journals Venture Capital Financing on MSMEs in PT Sarana Ventura Yogyakarta: A Maslahah Perspective

2019 ◽  
Vol 4 (2) ◽  
pp. 101
Author(s):  
Rachmat Hidajat
Keyword(s):  
Data Collection ◽  
Venture Capital ◽  
Small And Medium Enterprises ◽  
Field Research ◽  
Small Scale ◽  
Distribution Process ◽  
Collection Data ◽  
Capital Financing ◽  
Medium Enterprises ◽  
Method Approach

Purpose: This study aimed to analyze and explain the implementation of venture capital financing at PT. Sarana Ventura on MSMEs in terms of maslahah aspectDesign/Method/Approach: This was descriptive qualitative field research. The subjects were the leaders, the divisions of VCO & investment, legal, and agents of MSMEs at PT. Sarana Ventura in Yogyakarta. The data collection used observation, interview, and documentation techniques. The data analysis consisted of four stages, namely, data collection, data reduction, data display, and conclusion drawing/verification.Findings: The results showed that first, the distribution process of financing conducted by PT. Sarana Ventura is in the form of equity without charging any interest payment but applying the concept of revenue sharing to avoid usury. Second, the distribution process of financing to MSMEs is free from gharar by implementing the principle of the contractual agreement as well as a consensual principle in agreeing. Third, however, the capital distribution to the actors of micro, small and medium enterprises has not yet met the principle of justice because the firm is only willing to provide venture capital to medium scale enterprises which have been running and developing, not for new small scale enterprises (startup).Originality/Values: The main contribution of this study is expected to make venture capital companies more open and competitive in the future in advancing MSMEs.

scholarly journals TINJAUAN YURIDIS TERHADAP PEMBIAYAAN MODAL VENTURA SYARI'AH TERHADAP USAHA MIKRO KECIL DAN MENENGAH (UMKM) DENGAN SISTEM PERHITUNGAN PROFIT SHARING

2018 ◽  
Vol 2 (2) ◽  
pp. 187-202
Author(s):  
Edy Nurcahyo
Keyword(s):  
Venture Capital ◽  
Legal Protection ◽  
Profit Sharing ◽  
Business Partner ◽  
Conceptual Approach ◽  
Business Operation ◽  
Capital Financing ◽  
Data Source ◽  
Principles Of Justice ◽  
Medium Enterprises

The purpose of this research is to describe a legal review against syariah venture capital financing which given to business partner which in the form of micro business, small business, and medium enterprises with profit sharing. This research method is normative legal research. The main data source which is used is the literature. Researcher uses a conceptual approach because of adapts to the legal material under study, then it analyzed by qualitative analysis. The result of research shows that syariah venture capital financing have gined legal protection from positif law in Indonesia for doing financing based on prinsip's profit sharing. Every business operation of Syariah Venture Capital Financing and Syariah Business Unit must fulfill the principles of justice, equilibrium, benefit, and univeralism.    

scholarly journals Metode K-Means Untuk Pemetaan Persebaran Usaha Mikro Kecil Dan Menengah

2021 ◽  
Vol 9 (2) ◽  
pp. 39
Author(s):  
Dwi Remawati ◽  
Dicky Jordan Aji Putra ◽  
Tri Irawati
Keyword(s):  
Small And Medium Enterprises ◽  
Business Groups ◽  
National Development ◽  
Business Owners ◽  
Economic Sector ◽  
Clustering Method ◽  
The Government ◽  
Medium Enterprises

Developments in the current era of globalization are very dependent on the economic sector which is the benchmark of success carried out by the government. The role of the community in national development in the economic field is the existence of Micro, Small and Medium Enterprises (MSMEs). To increase the role of MSMEs as a benchmark for the success of the economic sector, there must be support from the government, such as assistance for business owners with limited costs. The purpose of this study is to determine community business groups as a measure of the level of business, making it easier for the government to provide assistance. The K-Means Clustering method is a method used for grouping business levels based on the income that exists in today's society. The result of this research is a website-based business-level grouping system used by the Cooperatives and SMEs Office by grouping them into micro, small and medium-sized businesses based on income/assets. 

scholarly journals PERANAN CREDIT UNION SEBAGAI LEMBAGA PEMBIAYAAN MIKRO Studi Kasus: Pada Usaha UMKM Di Desa Tumbang Manggo Kecamatan Sanaman Mantikei, Kabupaten Katingan, Provinsi Kalimantan Tengah Tahun 2013

MODUS ◽  
2016 ◽  
Vol 26 (2) ◽  
pp. 157
Author(s):  
Monica Carollina ◽  
Ag Edi Sutarta
Keyword(s):  
Venture Capital ◽  
Small And Medium Enterprises ◽  
Descriptive Analysis ◽  
Secondary Data ◽  
Credit Union ◽  
Primary Data ◽  
Working Capital ◽  
The Public ◽  
Medium Enterprises

The role of supporting institutions in the capital in Tumbang Manggu is needed, especially for the small and medium enterprises to obtain loans used for working capital. The main problem that dalam membuka venture capital is limited existence. This study aims to determine the role of Credit Union in TPK Tumbang Manggo, Central Kalimantan as a fnancing institution for micro-enterprises. The data used in this research is secondary data and primary data. Secondary data were obtained f rom the Credit Union TPK Tumbang Manggo and Inkopdit. The primary data obtained through interviews and questionnaires. The analysis used in this research using descriptive analysis. Based on the results of CU not only act as a fnancial institution to assist the public in obtaining funds for venture capital but also as a depository institution money and providers of education and training for their members. It is most infuenced the decision of the respondent in choosing CU as a fnancial institution is the ease in obtaining a loan (20.205%), satisfactory service (20.205%), and ease in obtaining a loan (20.205%). Credits obtained from CU most used by respondents as working capital as much as 80%.Keywords: Credit Union, Credit Union Role, Tings that Afect Decisions, Credit Allocation

scholarly journals Effect of Venture Capital Financing on Investment in Kenya

2020 ◽  
Vol 2 (1) ◽  
pp. 45-60
Author(s):  
Kevin Wanjala ◽  
Valerie Kizito
Keyword(s):  
Venture Capital ◽  
Small And Medium Enterprises ◽  
Gdp Per Capita ◽  
Positive Correlation ◽  
Aggregate Investment ◽  
Capital Financing ◽  
Per Capita ◽  
Medium Enterprises ◽  
Positive Effect ◽  
Number Of Firms

Purpose: The objective of this paper is to determine the effect of venture capital financing on investment in Kenya. Methodology: To achieve the objective of the study, venture capital was disaggregated into two variables, namely, the number of firms financed and the total amount of financing. Other variables, such as interest rate and GDP per capita were also included in the analysis to act as control variables. The study used 10 years of data spanning from 2009 to 2018. A regression analysis was done in order to analyze the data. Results: The study established that there is a positive correlation between the number of firms financed and the aggregate investment in Kenya. The study observed that the total amount of financing has a positive correlation with aggregate investment. Implications: The study concludes that venture capital financing has a positive effect on aggregate investment levels in Kenya. The study recommends that the Kenyan government should come up with ways of financing small and medium enterprises, which will boost their productive capacities leading to more investment in the country and more generation of income.

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