Msmes In Medan City During the New Normal

ABSTRACT

The coronavirus (COVID-19) outbreak has terribly affected economic conditions in Medan City. One of the most considerably affected sectors by the COVID-19 outbreak is micro, small, and medium enterprises (MSMEs). This article aims to assess the impact of the COVID-19 outbreak on this business and provide policy recommendations to assist MSMEs in reducing business losses and surviving through the crisis. MSMEs are sectors of a significant role for regional economic growth. MSMEs contribute to the absorption of labour and the distribution of development results. In the current New Normal period, MSME business owners must have a surefire strategy for their business to survive and maintain continuity through various innovations. This research aims to develop MSME business strategies in the New Normal period to survive and maintain their business continuity. The data collection is done by identifying MSME obstacles by conducting surveys by distributing questionnaires, literature studies, and FGD with MSME observers in Medan. The final stage is concluded with the formulation of a strategy to be implemented by MSMEs to maintain the sustainability of MSMEs in Medan City in the New Normal period.