Indonesia's Creative Economy Event Boosts SMEs Towards Global Market

Bank Indonesia's Karya Kreatif Indonesia (KKI) 2026 event successfully boosted Indonesian Micro, Small, and Medium Enterprises (UMKM), recording Rp177.21 billion in transactions over four days. The annual event, now in its 11th year, aims to enhance UMKM capacity, financing, digitalization, and market access, positioning them for global competition.

The 2026 edition, held from August 20-23, embraced the theme '#BeudayaMeusareSare' from Aceh, meaning 'Empowered Together.' This theme reflects Bank Indonesia's commitment to fostering healthy, strong, and competitive UMKM through collaboration. The event garnered support from 27 ministries and institutions, alongside 34 strategic partners.

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In the midst of economic uncertainty and global geopolitical challenges, we need to increase synergy to maintain national economic growth so that it can continue to grow and have strong resilience. Therefore, we encourage the strengthening of UMKM, which are the pillars of the nation's economy.

BI Deputy Governor Aida S. Budiman emphasized that the achieved transaction figures demonstrate the competitiveness of Indonesian UMKM amidst global economic uncertainty and geopolitical challenges. She also pointed out the importance of a supportive ecosystem for sustainable and inclusive UMKM growth. Key innovations this year included an impactful program, refined collaboration, end-to-end ecosystem strengthening, the development of local brands driven by youth, and a focus on sustainability.

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UMKM credit has only grown by 1.62 percent. This is truly a challenge.

Notably, KKI 2026 integrated local brands, many developed by young entrepreneurs, into its ecosystem. Some of these brands, previously recognized through events like Brightspot, generated approximately Rp1.5 billion in transactions at KKI 2026. This integration underscores BI's strategy to empower emerging local talent and brands.

Despite UMKM's significant contribution to Indonesia's economy, accounting for 97% of employment and over 60% of GDP, Destry Damayanti, the interim Governor of BI, noted that their credit growth remains critically low at around 1.62%, far behind the double-digit growth seen in overall banking credit. This disparity highlights a persistent challenge in ensuring adequate financial support for these vital economic pillars.

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The achievement shows that Indonesian UMKM have competitiveness amidst global economic uncertainty and geopolitical challenges. Furthermore, the increase in transactions also shows the importance of an ecosystem that supports UMKM to grow sustainably and inclusively.