Indonesia tries making it easier for micro-enterprises to borrow
- Published: 26 Feb 2013 at 11.44
- Newspaper section: Asia focus
The number of micro small medium enterprises (MSMEs) in Indonesia is small when compared with other Asean countries.
According to a 2008 survey on entrepreneurship by the World Bank, entrepreneurs in Indonesia accounted for only 1.56% of the population, compared with 4% in Malaysia, 4.1% in Thailand and 7.2% in Singapore.
In Indonesia, micro enterprises are defined as those with net assets of less than 50 million rupiah (155,000 baht), land and buildings excluded, or less than 300 million rupiah (930,000 baht) in annual sales. Small firms are those with 50-150 million rupiah in assets or annual sales from 300 million to 2.5 billion rupiah. Medium-sized firms have net assets from 500 million to 10 billion rupiah or annual sales from 2.5 billion to 50 billion.
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