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Jakarta Post

Ministry to provide Rp 54b for SMEs this year

  • The Jakarta Post

Jakarta   /   Sat, March 9 2013   /  12:15 pm

The Cooperatives and Small and Medium Enterprises Ministry has announced that it will grant money to budding entrepreneurs to facilitate them in obtaining land certificates to help them meet loan requirements, in a bid to upgrade existing micro-, small- and medium-scale (UMKM) businesses.

The ministry’s deputy assistant for funding, Tamim Saefudin, told a seminar in Jakarta on Thursday that the ministry had budgeted Rp 54 billion (US$5.5 million) this year in grants of Rp 25 million each for 2,160 novice entrepreneurs nationwide.

“We will grant the money to 1,500 of them on March 18. The funds come from the state budget and donations,” Tamim said.

Tamim said that the grants were expected to help the entrepreneurs finance their businesses and to trigger the emergence of new players, adding that lack of funds was still the main challenge for the aspiring business...