The Understanding The Characteristics Of Micro Small And Medium Business For Revitalization Of Businesses In Era Of Industry 4.0

Abstract

Micro, small and medium business or MSME’s are small business that are managed individually or by several members with various types of productive business. Lately, these MSME’s face various obstacles so that the rate of development and productivity is hampered. Understanding the ins and outs of the problems being faced by MSME’s is believed to have a connection with efforts to revitalize the business in the current digital era. For this reason, we have conducted a field study using observational methods and stratified random samples to understand the characteristics of these MSME’s problems. Finally, we succeeded in summarizing the findings of the MSME’s study among some MSME’s actors in the province of West Java. Our findings include; First, MSME’s are held to fill the time blank at home. Secondly, MSME’s are carried out without having a clear managerial vision and mission. Third, as an average individual MSME’s there, it is carried out with its own small capital without capital loans from financial institutions or other outside parties with a profit sharing system. Therefore, we suggest that the findings of the problem characteristics will be solved if the MSME’s of West Java get business partners and funding to help manage and manage the financials and the mindset of the MSME’s so they can increase their business productivity.