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The Role of Generation Z and Millennials Towards MSMEs in Indonesia

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

Author

Listed:
  • Syalwah Aisyah Purnama

    (Polytechnic of STIA LAN Jakarta)

  • Donna Azzahra

    (Polytechnic of STIA LAN Jakarta)

  • Budi Priyono

    (Polytechnic of STIA LAN Jakarta)

Abstract

ABSTRACT Millennial MSME business actors totaling 34 thousand people and generation Z 1.6 thousand people are opportunities for Golden Indonesia is attempting to improve the economy through MSMEs. Capital and mental limitations are serious problems for millennial and z generation MSME actors, besides that technology is also an obstacle. The purpose of this study is to find out how the roles, opportunities and challenges of millennial and z generation MSMEs. This research is a descriptive qualitative research using literature methods with theoretical studies and several reference sources. Based on the results of the 2020 Population Census, the millennial generation population of 25.87% and generation Z of 27.94% have a fairly high opportunity in an attempt to increase economic growth in Indonesia. “Economic Recovery and Post-Pandemic Shopping Trends" It is known that the number of transactions throughout 2022 of 46.7% was held by the millennial generation. This shows that this generation has a fairly high proficiency in e-commerce. With the use of this technology, millennials and generation z can contribute to the improvement of MSMEs in Indonesia. Behind the advantages of millennials and generation z who have expertise in using technology, they also have various problems in managing MSMEs. The limitations of the millennial and z generations can be overcome through collaboration with various parties such as MSME players run by generation x and baby boomers who have seen stability in running a business from small to becoming a big business.

Suggested Citation

  • Syalwah Aisyah Purnama & Donna Azzahra & Budi Priyono, 2023. "The Role of Generation Z and Millennials Towards MSMEs in Indonesia," 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 56-64, Springer.
    • Handle: RePEc:spr:advbcp:978-94-6463-302-3_8
    DOI: 10.2991/978-94-6463-302-3_8
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