Modernize MSME businesses with digital technology

 

MICRO-, small-, and medium-sized enterprises (MSMEs) play a vital role in driving domestic production, reducing reliance on imports, and increasing export opportunities. To support these objectives, relevant authorities must focus on developing the manufacturing sector within each region and state.

 

Enabling MSME businesses to thrive is crucial for long-term economic growth and the production of diverse goods. Efforts should be directed towards bolstering the manufacturing sector, with technology, financial support, market access, land allocation, supply of raw materials, and handling various items of machinery as key considerations. The MSME development work committee collaborates with regional and state MSME businesses to ensure these essential requirements are provided to business owners.

 

In order to strengthen the MSME sector, regional and state governments should prioritize the manufacturing of MSME products using domestic raw materials. Simultaneously, they should encourage MSME businesses to produce goods that align with the One Region-One Product plan, wherein each region focuses on manufacturing specific products. This approach allows for the production of domestic goods while facilitating export commodities to foreign markets.

 

Identifying suitable product categories for MSME industries is essential, such as food products including oil crops, rice, tapioca, rubber, cotton, coffee, tea, forest products, rattan/bamboo crafts, fish, animal feed, and traditional medicines, based on the availability of raw materials. An emphasis should be placed on enhancing the exports of these products.

 

Regional and state authorities should devise strategic plans based on the selected products. To implement these plans successfully, it is crucial to provide financial capital and technology to local MSME entrepreneurs through cooperative and private systems. This support will help ensure smooth monetary circulation in the investment sector and overcome potential challenges. Additionally, authorities should expand the pool of MSME entrepreneurs and facilitate entrepreneurial initiatives.

 

Rapid dissemination of information is vital for MSME entrepreneurs and local communities to effectively navigate the market and optimize production. Efforts should also be made to cultivate a skilled workforce and human resources to meet the needs of MSME businesses. By doing so, the manufacturing sector can be modernized while maintaining robust marketing and export procedures.

 

Despite the persisting challenges, MSME businesses must embrace digital technology for manufacturing, market promotion, information dissemination, and secure monetary transactions. Therefore, it is imperative to explore accessible avenues for MSMEs to leverage digital technology and accelerate their progress. As such, businesspersons need to develop their manageable-scale businesses as MSMEs so as to boom larger-scale businesses beneficial for themselves as well as the State.