The Empowering Model of Small Medium Enterprises in Society 5.0
Small Medium Enterprises (SMEs) in Indonesia plays an important role in the economy. SMEs spread covers all provinces in Indonesia. In the period of 5.0, SMEs should be aware to anticipate the changes that occur in terms of mobility, infrastructure, health care, and financial technology. In this situation, the human is the main subject (human controlling society) in controlling the science and technology advance in the business sectors. The purpose of this paper is to find an appropriate model for empowering small business in Indonesia in society 5.0 that is adapted to local characteristics and policies that are culturally appropriate. The Analysis will be done by using literature studies. The research question from this paper is what factors must be considered to increase the empowerment of SMEs in order to increase their contribution to the Indonesian economy. The study revealed that the right strategy is needed to empower small and medium businesses that suit to SMEs condition both internally and externally. The strategy can be done by identifying the dominant factors that impact on the surviving and sustaining of small and medium business in its industry both in the short term and in the long term.