Three-Month Incubation Effective in Boosting Small Business Turnover by Up to 100 Percent

A three-month incubation program for Micro, Small, and Medium Enterprises (MSMEs) in Indonesia, organized by Yayasan Indonesia Setara (YIS), has yielded tangible success, significantly boosting the turnover of its top participants. The program focused on equipping entrepreneurs with essential skills for sustainable business growth.

The curriculum encompassed a wide range of critical business areas, including the development of business models, financial management, digital marketing strategies, legal aspects of business operations, and the effective use of artificial intelligence (AI) for business development. Founder of YIS, Sandiaga Salahuddin Uno, emphasized that the incubation initiative aims not just to provide training but to build the capacity of MSME players for long-term success.

"We want MSME players not only to survive but to move up a class," Sandiaga stated. "Intensive mentoring must be able to change the mindset of business actors, strengthen business governance, utilize digital technology, and open access to markets and financing." This holistic approach seeks to transform businesses from merely surviving to thriving and expanding.

Nain Toe Sik Catering, owned by Dwi Komalasari, experienced the most substantial growth, doubling its monthly turnover from around 10 million rupiah (approximately $670) to 20 million rupiah ($1,340). Dwi shared that prior to the program, she managed her catering business, started in 2018, based on experience rather than structured planning. Concepts like Business Model Canvas (BMC), business audits, and growth planning, along with AI for promotion, were unfamiliar to her.

During the incubation, Dwi received guidance on business model structuring, SOP development, implementing Kaizen principles in production, and navigating business legality. She also learned about financial record-keeping, business audits, and using tools like ChatGPT and other AI technologies for promotional material creation. "The knowledge I gained did not stop at theory but was immediately applied to the business," Dwi said. "Operations became more organized, I became more confident in making decisions, more courageous in innovating, and Alhamdulillah, business turnover continues to increase."