The Well-Being of Micro Small and Medium Enterprises’ Practitioner in Covid-19 Pandemic

Abstract

The Micro, Small, and Medium Enterprises (MSMEs) sector plays an important role in the development of a country, providing massive revenues and employment opportunities. However, the challenges of MSMEs sector are now exacerbated with the situation of COVID-19 due to the business limitation and degrading economic situation. In addition to financial difficulties, there is also the concern on the well-being of MSMEs practitioners which can influence the sustainability of the sector. This research was conducted with the purpose of investigating the level of well-being for MSMEs practitioners. The approach of subjective well-being using Satisfaction with Life Scale (SWLS) and scale of positive and negative experience (SPANE) were implemented in a form of questionnaire. A total of 119 MSMEs practitioners were collected in this study, with their level of well-being investigated, as well as the challenges and innovations experienced during the COVID-19 pandemic. The findings in this study show that the MSMEs practitioners under association support were majority within medium and high levels of well-being, however this study also takes note of practitioners within low-level of well-being. Hence there is the implication challenge to formulate policy intervention to support MSMEs sector which integrate the financial and mental health aspect to maintain the sustainability of the sector.

The Model for Improving Business Performance Using Microfinancial Institutions and Entrepreneurship Competencies

“…Because of contemporary globalization and intense competition, SMEs must be capable of meeting global issues such as boosting product and service innovation, improving human resources and technology (Chandra Jaya & Kosadi, 2022), and extending marketing regions. This is necessary to increase the selling value of SMEs themselves, particularly to compete with the rising influx of foreign goods into Indonesia's industrial and manufacturing hubs, given that SMEs are an economic sector capable of absorbing the majority of the country's workforce (Sudaryanto & Wijayanti, 2013) and plays a key role in developing countries, generating large income and creating job prospects (Harding et al, 2022).…”

Entrepreneur Intention in the Perspective of Planned Behavior Theory

“…Available job opportunities are filled by the needy workforce. Entrepreneurship provide great income and large job opportunities (Harding, Friyanto, & Lukman, 2021). Economic development can grow well if it is supported by entrepreneurial activities (Wardoyo, Tasrif, & Bayu, 2016).…”