MSME Sustainability Strategy after Facing Covid-19 by Analyzing the Role of Crowdfunding and Digital Markets in Increasing Economic Growth by Using the Business Model Canvas Strategy and Analyzing the Market Structure as an Intervention Variable

Abstract

The purpose of this study is to find out the MSME sustainability strategy after facing Covid-19 by analyzing the role of crowdfunding and digital markets in increasing economic growth by using the Business Model Canvas strategy and analyzing market structure as an intervening variable. This study uses a Mix Method research approach, namely a combination of quantitative and qualitative combinations. By using a combined method, it is expected to complement each other from the existing hypotheses. Quantitative emphasizes statistical test analysis techniques so that data is more accurate, while qualitative techniques emphasize process analysis of inductive thinking processes related to the dynamics of relationships between observed phenomena and always use scientific logic. The population in this study were all SMEs that used crowdfunding and microfinance services as many as 380 SMEs used the slovin formula, and 192 SMEs were used as samples with various backgrounds from various businesses. The results of this study are (1) there is an increase in economic growth in Indonesia if MSMEs use crowdfunding as an alternative to capital needs through the use of the Canvas Business Model (BMC), (2) there will be an increase in economic growth in Indonesia if MSMEs use digital markets as a marketing alternative. through structural analysis, (3) there is an increase in economic growth in Indonesia if MSMEs use Crowdfunding and digital markets through the use of the Canvas Business Model (BMC) and analyzing market structure.