Internationalizing SMEs with Hexa Helix Strategy

The Role of Public Administration in Efforts to Encourage Financial Management and Creative Economy
May 20, 2024
Factors Affecting the Profitability of F&B Companies Listed on the Vietnam Stock Exchange
June 3, 2024

Internationalizing SMEs with Hexa Helix Strategy

ABSTRACT: Small, and Medium Enterprises (MSMEs) play a crucial role in the Indonesian economy. As the majority of business units in Indonesia, SMEs serve as the backbone of the national economy by significantly contributing to job creation and increasing people’s income. However, despite their significant contribution to the economy, the export contribution from SMEs is still relatively low. This indicates that the competitiveness of SMEs in the international market needs to be enhanced. The main challenge faced by SMEs in exporting is the lack of competitiveness in the international market. Efforts to enhance the competitiveness of SMEs in the context of internationalization are therefore crucial. One approach that can be taken is through collaboration with various stakeholders or across sectors with the concept of Hexa Helix. The Hexa Helix concept provides a strong foundation for supporting the internationalization of SMEs among universities, businesses, government, communities, media, and stakeholders such as tourists. It is hoped this concept will not only strengthen the SMEs ecosystem but also have the potential to increase the competitiveness and contribution of SMEs to the global economy. Cross-sector collaboration can provide comprehensive support for SMEs, ranging from access to resources and knowledge to capacity building and product promotion in international markets. Through cross-sector collaboration, SMEs are expected to gain the guidance and support needed to enhance product quality, meet international standards, and develop effective marketing strategies. Additionally, this collaboration helps SMEs expand their business networks and gain access to new markets abroad. Thus, joint efforts to support SMEs in exporting to international markets are strategic steps in strengthening the contribution of SMEs to national economic growth and enhancing Indonesia’s competitiveness in the global market.

KEYWORDS –Competitiveness,Export, Internationalization, Hexa Helix, SMEs

error: Content is protected !!