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Transforming MSMEs through Innovation and Technology: Driving Growth and Sustainability in the Digital Age

In: Proceedings of the BISTIC Business Innovation Sustainability and Technology International Conference (BISTIC 2023)

Author

Listed:
  • Iman Supriadi

    (STIE Mahardhika Surabaya)

  • Rahma Ulfa Maghfiroh

    (Universitas Islam Negeri Sunan Ampel Surabaya)

  • Rukhul Abadi

    (STEBI Syaikhona Kholil Sidogiri Pasuruan)

Abstract

This study aims to analyze the role of innovation and technology in the transformation of MSMEs and provide policy recommendations to support the development of MSMEs. This research uses a descriptive-analytical approach by conducting literature reviews and case studies. Data was collected through secondary sources and analyzed using a qualitative approach. This research identifies that innovation and technology can improve MSMEs' market access, operational efficiency, product development, and productivity. E-commerce, digital marketing, business management software, and cloud computing were identified as essential tools in transforming MSMEs. Policy recommendations include improving access to resources and financing, developing digital infrastructure, digital skills training, and creating a supportive regulatory environment. This research provides a better understanding of the importance of innovation and technology in MSME transformation and can present relevant policy recommendations to support the development of MSMEs.

Suggested Citation

  • Iman Supriadi & Rahma Ulfa Maghfiroh & Rukhul Abadi, 2023. "Transforming MSMEs through Innovation and Technology: Driving Growth and Sustainability in the Digital Age," Advances in Economics, Business and Management Research, in: Ika Zutiasari & Dediek Tri Kurniawan (ed.), Proceedings of the BISTIC Business Innovation Sustainability and Technology International Conference (BISTIC 2023), pages 241-251, Springer.
    • Handle: RePEc:spr:advbcp:978-94-6463-302-3_28
    DOI: 10.2991/978-94-6463-302-3_28
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