Crowdfunding as a Business Innovation to Finance SMEs for Sustainable Development Goals to Anticipating the Impact of Corona Virus Pandemic Disease (Covid-19) in Indonesia

Wahjono, Sentot Imam; Marina, A Tappaskhanova; Fam, Soo-Fen; Rasulong, Ismail

doi:10.2991/aer.k.210121.044

Cited by 2 publications

(2 citation statements)

References 30 publications

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“…Government-backed loan schemes and grants were introduced to provide liquidity and facilitate business continuity. Additionally, the government encouraged digital transformation by providing resources and training programs to help family businesses embrace technology and online platforms (Susilawati et al, 2020;Wahjono et al, 2021).…”

Section: Literature Review 21 Family Business Condition After Covid-19mentioning

confidence: 99%

Platform and e-commerce design for Indonesian family businesses

Wijayanti,

Titisari,

Astungkara

2023

VHUJSVN

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The COVID-19 pandemic has required the adoption of digital platforms and e- commerce for family businesses in Indonesia. This digital transformation is not only crucial for their survival but also for their growth and long-term success. By embracing digital technologies, family businesses can adapt to the "new normal" reestablish their operations and capitalize on the opportunities presented by the evolving digital ecosystem. This article aims to provide an overview of the platform and e-commerce design for Indonesia family businesses. The data was collected from six family businesses through interview, observation, and focus group discussion method. The results have shown the development of two types of designs platform for e-commerce Indonesian family business including general platform designs and detailed platform designs. The general platform design aims to explain the components of the online platform, while the detailed platform design provides a more detailed description of the activities conducted on the platform.

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Section: Literature Review 21 Family Business Condition After Covid-19mentioning

confidence: 99%

Platform and e-commerce design for Indonesian family businesses

Wijayanti,

Titisari,

Astungkara

2023

VHUJSVN

View full text Add to dashboard Cite

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“…This is significant, especially in developing countries where the access of SMEs to traditional financing is limited. The intensified digitalization processes lead to greater access to new, non-bank solutions like crowdfunding or digital lending platforms (Augustine, 2019;Wahjono et al, 2021). It is essential for firms with a worse financial situation (e.g., lower liquidity and level of stable funds) (Eça et al, 2021).…”

Section: The Role Of Financial Technology In Fostering Sme Financementioning

confidence: 99%

The role of financial technology and entrepreneurial finance practices in funding small and medium-sized enterprises

Łasak¹

2022

JEMI

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PURPOSE: The traditional sources of financing (bank loans) cannot be treated as an essential source of financing for SMEs in developing countries. For this reason, this group of entities uses many alternative sources, from bootstrapping to microfinance and crowdfunding. During the last decade, a significant contribution in this area has been financial technology. The purpose of this study is threefold: 1) to present the role of financial technologies in financing SMEs, 2) to examine the role of entities based on financial technology in financing SMEs in developing countries, and 3) to consider other non-bank aspects of financing SMEs, leading to the improvement of the financial situation of these entities. The in-depth analysis of these entrepreneurial finance practices will be developed in the following papers presented in this Issue. METHODOLOGY: This study employs a theoretical approach based on a narrative literature review. The primary attention is focused on applying financial technology as a stimulant for the finance of SMEs in developing countries. FINDINGS: As a consequence of the financing gap for SMEs within the traditional financial system, these entities use non-bank financing based on financial technology. The research confirms that financial technology plays a crucial role in fostering the financial situation of SMEs in developing countries and providing greater financial inclusion for these entities. Both, financial technology and enterprises based on this technology contribute significantly to the improvement of efficiency of financing SMEs in emerging markets. They also provide a broader range of services, than were offered by the traditional financial sector. Regarding the other aspects of SME finance, it is essential to implement such ways of financing like microfinance services and crowdfunding. Such funding mechanisms, together with the budget process and the compliance under the conditions of e-tax systems, are important determinants of current entrepreneurial finance. IMPLICATIONS: The paper describes the financing of SMEs in developing countries. The in-depth picture of the SME’s financial situation, focusing on the technological development in this area, provides essential insight into this still poorly explored area. It also offers important premises for shaping the post-pandemic policy to support their further growth. ORIGINALITY/VALUE: Despite growing theoretical and empirical literature about entrepreneurship finance, this study aims to contribute to the role of financial technology in this area. The impact of financial technologies and the role of fintech-based entities on SME activity in developing countries are still poorly researched. Moreover, the research provides a brief overview of other SME funding sources and their determinants in this group of countries.

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Crowdfunding as a Business Innovation to Finance SMEs for Sustainable Development Goals to Anticipating the Impact of Corona Virus Pandemic Disease (Covid-19) in Indonesia

Cited by 2 publications

References 30 publications

Platform and e-commerce design for Indonesian family businesses

Platform and e-commerce design for Indonesian family businesses

The role of financial technology and entrepreneurial finance practices in funding small and medium-sized enterprises

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