These are the Challenges Faced by Small Businesses in 2024

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Adi Ahdiat 18/11/2024 16:09 WIB

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According to a survey by Mandiri Institute, lack of capital remains the primary challenge for small business owners in Indonesia.

Challenges Faced by Small Businesses in Indonesia (November 2024)

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Challenges Faced by Small Businesses in Indonesia (November 2024)

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Lack of business capital remains a major challenge for small businesses in Indonesia.

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

According to the report, of the 523 small business owners surveyed, the majority, or 32%, felt that capital was the main challenge in running their businesses.

Others faced challenges in product marketing, insufficient business income, human resource/employee skills, raw material availability, innovation, cash management, and other aspects, as shown in the graph.

This survey also found that 36% of small business respondents 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 business sector, the perception of a worsening economy was most prevalent among small business owners in the trade/retail (40%), fashion (40%), and agriculture/livestock/fisheries (37%) sectors.

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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