If you are considering starting a business that has the potential to be highly lucrative, then the year-end holiday may be the right time for you to think about your next step, in business, in life, and as an aside, in love.
First of all, did you know that many entrepreneurs launch their business products around, or just before, the end-of-year holidays?
Why don’t you follow their lead? Of course, not rushing in as fools rush in, but be careful and consider what business endeavour the entrepreneur within you wants to start.
However, launching a new business product only during the year-end holidays is not always necessary, especially if you are hesitant, have misgivings, or are unsure about what [profitable] business opportunities you want to pursue. To help you decide whether or not to go ahead with your ideas, ask others who have gone before you, such as entrepreneurs in the micro, small, and medium enterprises (MSME) sector, before making any decisions moving forward.
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Despite the economic crisis caused by the COVID-19 pandemic, micro, small, and medium-sized enterprise (MSME) entrepreneurs are the backbone of the national economy and the lifeblood of community engagement and growth.
In March 2021, the Ministry of Cooperatives and Small and Medium Enterprises (Kemenkop UKM) reported that by March 2021, the number of MSMEs in Indonesia had reached 64.2 million, their contribution to the Gross Domestic Product (GDP) was 61.07%, equivalent to IDR 8,573.89 trillion, with an accumulated investment valuation of 60.42% of total investment in Indonesia, with MSMEs accounting for 97% of the total workforce.
Impressive!
Therefore, it should come as no surprise that the Indonesian government continues to support and strengthen MSMEs across the archipelago for those who are considering starting an MSME in Indonesia.
The distinction between micro, small, and medium enterprises is outlined in Government Regulation No. 7 of 2021 on the Facilitation, Protection, and Empowerment of Cooperatives and the Micro, Small, and Medium Enterprises (PP UMKM), which is part of Law No. 11 of 2020 on Job Creation (UU Cipta Kerja).
According to the PP UMKM, the criteria for MSMEs are as follows:
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What are the promising micro, small, and medium business opportunities in 2022? According to economist Aviliani, from the Institute for Development of Economics and Finance (Indef), three business sectors stand out:
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In this Digital 4.0 era, trade remains a promising business proposition. This is because the various goods (and services) that people need are valuable, and suitable for trade, whether they are traded virtually online on various social media platforms, marketplace, or physically, using conventional, brick-and-mortar trading establishments
The fashion world is a world that is constantly evolving and changing with time, with trends shifting seasonally, or with fast fashion, usually every six weeks, but sometimes weekly, and within this world, there is a wide range of fashion and fashionable products that have promising business potential.
One way to start your MSME in the fashion industry is by using online marketing practices on social media marketing platforms, which can be used to sell more clothing, hats, bags, shoes, and other fashion accessories. By using this method, various local brands such as Cotton Ink, AHHA, Erigo, Bloods, Berrybenka, and others can market their products not only locally, but globally.
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If you are quick to seize this business opportunity, there will be no doubt that you can successfully trade in men's and women's fashion, a promising, creative business that will evolve with you, your clients, and your tastes over time.
As the country with the largest Muslim population in the world, Indonesia is the largest market for Muslim fashion products. One promising business opportunity you could consider is opening an online store or even creating your brand for Muslim fashion products. Whether it's Muslim clothing for women or men, this opportunity is still wide open. Remember, everyone's fashion taste is, of course, different.
The demand for fashion preferences can never be fully met by just one or two models or brands. You can introduce new alternatives, new trends for Muslims to dress by Islamic principles.
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Women's concern for beauty and skin health has created various promising business opportunities in the skincare and cosmetics industry. In line with this, various natural plants and herbal ingredients are cultivated to produce skin care products. According to the Ministry of Industry, the skincare and cosmetics industry is dominated by small and medium-sized enterprises. This promising business can be started now, targeting not only female consumers but also men.
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Don’t hesitate to start a culinary business even during the pandemic. If you’re confident that your food and beverage products can meet consumers’ needs and tastes, go ahead and launch it! In fact, during the pandemic, McDonald’s experienced a sharp increase in cashless sales transactions, supported by offering cashless payments through Youtap’s comprehensive digital solutions.
This fact can inspire you to start a culinary business in the 4.0 era. In addition to accepting cash payments, don't forget that cashless payments contribute significantly to increasing sales revenue. The revenue of a culinary business can also be boosted through marketing via Go Food, Grab Food, and Shopee Food. So, the revenue of your culinary business can increase with both dine-in and takeaway sales through these apps.
Mendirikan usaha jasa Digital Marketing Agency juga merupakan salah satu jenis usaha yang menjanjikan keuntungan besar.Di tengah tumbuh pesatnya UMKM Starting a Digital Marketing Agency is also one of the business types that promises great profits. With the rapid growth of MSMEs, there will be an increasing need for digital marketing promotions. A digital marketing agency will help business owners create promotional content, company profiles, advertising materials, Search Engine Optimization (SEO) articles, websites, and more.
Photography and video services also present a promising business opportunity. People in the creative industry are in constant need of photos and video footage to be featured in video content and advertising materials. Additionally, millions of websites worldwide require engaging visual displays, making photos and videos highly in demand. Photography and video services are also essential for weddings and various other ceremonies.
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Babies have a wide range of needs, including milk, baby bottles, diapers, baby clothes, toys, bath supplies, feeding equipment, and more. Notably, the baby supplies trade business, according to Sigma Research Indonesia, reached a value of IDR 88.1 trillion in 2017.
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Providing food, pet supplies, medicine and vitamins, cages, and other pet necessities like those for dogs and cats is also a business with great profit potential. If there isn't a store nearby selling everyday pet products, you might consider starting this business.
Selling various products and services related to hobbies should not be underestimated. This business can be one of the promising ventures worth considering. There are many popular hobbies that people enjoy, including fishing, mountain climbing, cycling, motor touring, jogging, fitness, music, football, basketball, volleyball, swimming, and more.
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Livestock farming is also one of the promising businesses that you can consider. Various types of livestock can be raised, including chickens, goats, sheep, and cattle. It wouldn't hurt to first learn about the ins and outs of the livestock industry before diving into it.
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You might be able to expand the list of these 10 promising businesses. Whatever type of business it is, it’s best to manage your business in a smart way that aligns with the advancements of the digital era 4.0.
One way is by using the business app from Youtap, which offers various features that are useful for managing your business. It only takes one minute to register on the Youtap app. Download this app through Play Store, App Store, or the Youtap website.
Jl. Prof. DR. Soepomo No.2, RT.10/RW.15, Menteng Dalam, Kec. Tebet, Kota Jakarta Selatan, Daerah Khusus Ibukota Jakarta 12870
Direktorat Jenderal Perlindungan Konsumen dan Tertib Niaga Kementerian Perdagangan Republik Indonesia
WA/Telp: 0811 1310 9357
