Strategies and policies for developing SMEs based on creative economy

Abstract: Small and Medium Enterprises (SMEs) play a major contribution to the Indonesian economy. Along with the development of a centralized economic direction on consumers, the use of technology in all fields, and information transparency, SMEs must also be able to adapt in the era of the industrial revolution 4.0. This research aims to develop strategies for strengthening and developing SMEs and mapping the hierarchy policy of developing a creative economy-based SME business model in the era of the industrial revolution 4.0 in the Province of Bali. The data in this study were collected through documentation, FGD, and interview techniques, then analyzed using SWOT and MULTIPOL analysis techniques. The ability of creative economy-based SMEs to compete in the global era depends on internal and external factors. The analysis shows that SMEs in the Province of Bali are in a position of growth and built, so the strategies adopted are intensive strategies or integration. Development policies for SMEs, especially in the era of the industrial revolution 4.0, need to be directed so that the guided SMEs become independent SMEs. The policy package for the development of target SMEs includes technology, capital, marketing and infrastructure policies.

How to cite this paper

 Budhi, M., Lestari, N., Suasih, N & Wijaya, P. (2020). Strategies and policies for developing SMEs based on creative economy.Management Science Letters , 10(10), 2301-2310.

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