economy

BCA UMKM Fest 2024 Is All About Boosting Market Access For Local Entrepreneurs, With 1,200 Participants Joining In On The Action

PT Bank Central Asia Tbk (BCA) is back with the BCA UMKM Fest at Mal Kota Kasablanka in Jakarta from August 7 to 11, 2024, followed by an online event from August 12 to September 12, 2024. This fourth edition of the annual festival will showcase over 50 selected SMEs and feature more than 1,200 entrepreneurs participating online through umkmfest.bca.co.id, in collaboration with e-commerce platforms Blibli and Grab. Additionally, over 300 local businesses will join the festivities at 47 BCA branches across various regions.

The opening of BCA UMKM Fest 2024 will see the attendance of the Minister of Cooperatives and SMEs, Teten Masduki, BCA's President Director Jahja Setiaatmadja, and the entire BCA board. This festival highlights BCA's commitment to supporting micro, small, and medium enterprises as key players in Indonesia's economy. Through UMKM Fest, BCA aims to create strategic opportunities for businesses to expand their market reach both domestically and internationally.

Jahja Setiaatmadja, BCA's President Director, stated, “BCA UMKM Fest 2024 is a people’s economic festival that we’ve been hosting since 2021, reflecting our commitment to the growth of SMEs. This initiative is part of our efforts to contribute to inclusive and sustainable economic development, encouraging more SMEs to elevate their status.”

The significance of SMEs in Indonesia's economy is growing stronger. Therefore, collaboration between SMEs and various stakeholders needs to be intensified, along with better access to markets, resources, and networks to enhance business competitiveness. BCA UMKM Fest 2024 will feature a wide range of standout products, including food and beverages, fashion, hobbies, and health and beauty items. There will also be highlighted products from BCA's partner villages and BCA Travel Service joining the fun at Mal Kota Kasablanka.

Minister of Cooperatives and SMEs Teten Masduki expressed his appreciation for the BCA UMKM Fest 2024. He believes that initiatives like BCA's to support the growth of SMEs should be continuously encouraged and welcomed. "The SME sector has made a significant contribution to Indonesia's economy over the years. As of 2023, SMEs accounted for 61% of Indonesia's Gross Domestic Product (GDP) and employed around 117 million workers, which is 97% of the total workforce. The increasing number of SMEs each year reflects the community's enthusiasm for entrepreneurship and highlights the crucial role SMEs play in the national economy. The BCA UMKM Fest deserves recognition not only for supporting small and medium enterprises but also for creating great opportunities for the public to discover local standout products and boost the creative economy," said Minister Teten Masduki. BCA, as a banking institution, consistently supports the development of SMEs and strives to provide financial access to entrepreneurs in various regions. The UMKM Fest is one of the ways BCA helps businesses reach a broader market. In 2023, the event generated over 79,000 transactions from both offline and online activities, showcasing the high enthusiasm of the public in exploring and purchasing local products. Besides the UMKM Fest, BCA also runs other initiatives to support small and medium enterprises, such as BCA Bangga Lokal and BCA UMKM Pride 2024. They also facilitate SMEs with workshops and halal certification, aiming to reach 2,000 entrepreneurs this year. Last year, BCA assisted in issuing 1,000 halal certificates for SMEs, placing the company second nationally for the highest halal certification quota. In terms of financing, BCA has disbursed IDR 114.4 trillion in SME loans, marking a 12.7% year-on-year increase as of June 2024.

Tag: BCA UMKM Fest 2024 Jahja Setiaatmadja Markets Resources