Many Small Businesses Feel the Economy is Worsening in 2024

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Adi Ahdiat 18/11/2024 15:51 WIB

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According to a survey by Mandiri Institute, many small business owners in Indonesia believe that economic conditions in 2024 will be worse than in 2023.

Indonesian Small and Medium Enterprise (SME) Perception of Economic Conditions in 2024 Compared to 2023 (November 2024)

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Indonesian Small and Medium Enterprise (SME) Perception of Economic Conditions in 2024 Compared to 2023 (November 2024)

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Many small businesses in Indonesia perceive the current economic conditions as worse than last year.

This is recorded in the *Mandiri Business Survey 2024* report released by the Mandiri Institute.

According to the report, of the 523 small businesses surveyed, 36% felt that economic conditions in 2024 were worse than in 2023.

Furthermore, 36% felt they were the same, and only 28% felt they were better.

When broken down by sector, the perception of a worsening economy was most prevalent among small businesses in the trade/retail (40%), fashion (40%), and agriculture/livestock/fisheries (37%) sectors.

The survey also found that the main challenges faced by small businesses in general were lack of working capital (32%), product marketing (26%), business income (24%), and human resource/employee skills (16%).

Editor : Adi Ahdiat

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."

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