Kadin Will Encourage Potential Startups to Enter the Capital Market

The e-commerce industry and on-demand services in the country are indeed on the rise. Companies such as Bhinneka, Bukalapak, Traveloka, and Go-Jek are service providers that are familiar with people's daily lives. Responding to this phenomenon, the Deputy Chairperson of the Indonesian Chamber of Commerce and Industry (Kadin) for MSMEs, Cooperatives, and Creative Industries, Sandiaga S. Uno stated that his party would encourage startups and SMEs to immediately enter the capital market.

Sandiaga too disclose Kadin is currently identifying SMEs that are deemed appropriate and have the potential to enter the capital market. He suspects that there are 50 SMEs that can afford it. But of all, he hopes that at least 10 percent can hold an IPO in the next one to two years.

"We are still identifying, maybe there are 50 SMEs that can afford it. We hope that from the 50 at least 10 percent can IPO (initial public offering / initial public offering) in the next one to two years," said Sandiaga.

Of the fifty SMEs that are estimated to have the potential to enter the capital market, the business sector is dominated by startups, in particular E-commerce. Names such as Bukalapak, Bhinneka, and Traveloka emerged as the ones to be taken into account. Likewise with Go-Jek.

"Just like Go-Jek, it can actually increase its investor base because there are 600.000 users. The shares may be offered to users, it can be directly booming," said Sandiaga.

Some time ago too reported that the Chairman of the Standing Committee for Telecommunications at the Indonesian Chamber of Commerce and Industry, Johnny Swandi Sjam, said that Go-Jek was already worth more than $1 billion. Although there is no further information about this.

Previously, the Financial Services Authority was also study return the amount of SME capital that can enter the Indonesia Stock Exchange (IDX). From the previous regulation, the criteria for SMEs that can enter the capital market are businesses that have a minimum capital of Rp. 100 billion. This rule will be reviewed and possibly amended so that SMEs with capital below Rp. 100 billion can become issuers on the IDX.