The Phenomenon of The Development of Small And Medium Enterprises In The Midst of Oil Price Movements And Financial Management In The New Era Of The Pandemic

Abstract

Purpose – This research aims to study the economic conditions of small and medium business actors living in coastal areas. Design/methodology/approach – The method used is a descriptive analysis method supported by a participatory planning method. The importance of primary data is to understand deeply the real problems of small and medium business actors in the field, collected by using a survey method such as field observations, in-depth interviews by gathering small and medium business actors and related stakeholders in the area, undertaking forum group discussion. Secondary data are necessary to support the primary data analysis. Findings – The results showed that there is an abundance of marine resources, but the economic condition of small and medium business actors is far from expected. The income from small and medium business actors is not enough to feed their family’s daily needs due to low catching productivity and raw fish selling price. The regency government and province do not have clear and concrete policies to resolve firmly and thoroughly the economic problems of fishermen living in the coastal areas. Research limitations/implications –This study succeeds in providing two breakthrough strategic policies to improve the economic conditions of small and medium business actors, i.e. institutional and entrepreneurial innovations.