¹Sufyati HS,²Nani Ariani,³Freesca Syafitri

^1,2,3Faculty of Economics and Business, Veteran National Development University of Jakarta

DOI : https://doi.org/10.47191/ijsshr/v6-i5-06

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ABSTRACT

This research aims to identify and analyze the impact of the COVID-19 pandemic crisis in Indonesia through the risk management of SME performance in Indonesia. The study uses a mixed method analysis that combines qualitative and quantitative. Quantitative methods are used to demonstrate accurate data and phenomena of the impact of the COVID-19 pandemic on SME performance with descriptive statistics. This study uses qualitative methods with literature studies through articles, news from online media, and other documents that explain the impact of the COVID-19 virus on the performance of SMEs in Indonesia and explain the risk management of SME performance. The results of this study explain that the COVID-19 pandemic has a serious impact on business activities, especially SMEs. The impact is indicated by the number of SME losses in Indonesia since COVID- 19 appeared (March-May). The main causes of losses are decreased sales and restrictions on operating time. Many SMEs in Indonesia have not implemented good risk management. Management of risks that have been done during pandemics in the form of risk strategies through cultural trends, new normal lifestyles by implementing health protocols. In addition, risk strategies through online SME innovation continue to be encouraged by the Indonesian government.

KEYWORDS:

SME Risk Management, Impact of Covid-19 Pandemic, Economic Crisis

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VOlUME 06 ISSUE 05 MAY 2023