The Creative Economy Agency (Bekraf) will channel Rp 4.5 billion (US$320,613) in grants to 62 creative economy businesses so they can boost productivity as the share of the creative economy's contribution to gross domestic product (GDP) continues to increase. The agency will channel the funds through the government incentive aid (BIP) program aimed at giving additional working capital to small and medium enterprises so they can be bankable, said Bekraf nonbanking access director Syaifullah Agam. Small businesses, especially those in the creative industry, often cannot get bank loans because of the “rigidity” of its system, and grants could help boost the creative sector, he added. “We encourage them to be a formal business entity so they can contribute to the nation’s economy by paying taxes,” Syaifullah said on Tuesday. The creative eco...

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