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Disaster as Business Risk in SME: An Exploratory Study

Author

Listed:
  • Anton A Setyawan

    (Faculty of Economics and Business, Muhammadiyah University of Surakarta, Surakarta, Indonesia)

  • Muzakar Isa

    (Faculty of Economics and Business, Muhammadiyah University of Surakarta, Surakarta, Indonesia)

  • Farid Wajdi

    (Faculty of Economics and Business, Muhammadiyah University of Surakarta, Surakarta, Indonesia)

  • Syamsudin

    (Faculty of Economics and Business, Muhammadiyah University of Surakarta, Surakarta, Indonesia)

Abstract

The concept of business risk has been extended to several new concepts. Disaster, disease, social unrest and terrorism are emerging as part of business risks. This study aim is to explore classification of disaster risk in micro, small and medium enterprises (MSME). This study explains factors and risk perception of disaster prevention and reduction. The study based on survey, which involved 315 MSMEs, focus group discussion and in-depth interview with several key informants. We use content analysis as a basic tool in the data analysis process, with descriptive statistic to complete information findings in the study. Unit analysis of this study are MSME industries, they are batik and textile, furniture and handy-craft and food industry. The result shows that they are interconnectedness between financial institution, local governance and MSME in the disaster risk management model. Each party has obligations in conducting preparedness of disaster and risk protection procedures for disaster risk management. We also find that there is still very low risk perception among MSME in Surakarta. This could be a potential problem when the disaster risk management should be implemented in MSME business. Key Words:Disaster Risk, Risk Protectino, Disaster Risk Management

Suggested Citation

  • Anton A Setyawan & Muzakar Isa & Farid Wajdi & Syamsudin, 2017. "Disaster as Business Risk in SME: An Exploratory Study," International Journal of Research in Business and Social Science (2147-4478), Center for the Strategic Studies in Business and Finance, vol. 6(6), pages 52-63, October.
    • Handle: RePEc:rbs:ijbrss:v:6:y:2017:i:6:p:52-63
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    Citations

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    Cited by:

    1. Judit Oláh & Zuzana Virglerova & József Popp & Jana Kliestikova & Sándor Kovács, 2019. "The Assessment of Non-Financial Risk Sources of SMES in the V4 Countries and Serbia," Sustainability, MDPI, vol. 11(17), pages 1-19, September.
    2. Martinsen, Madeleine & Zhou, Yuanye & Dahlquist, Erik & Yan, Jinyue & Kyprianidis, Konstantinos, 2023. "Positive climate effects when AR customer support simultaneous trains AI experts for the smart industries of the future," Applied Energy, Elsevier, vol. 339(C).
    3. Eggers, Fabian, 2020. "Masters of disasters? Challenges and opportunities for SMEs in times of crisis," Journal of Business Research, Elsevier, vol. 116(C), pages 199-208.

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