Risk mitigation concept of food MSMEs in Malang in the situation of global economic policy uncertainty

Novi Puji Lestari; Erna Retna R

doi:10.36096/brss.v7i1.810

Authors

Novi Puji Lestari Universitas Muhammadiyah Malang
Erna Retna R Universitas Muhammadiyah Malang https://orcid.org/0000-0001-8398-7813

DOI:

https://doi.org/10.36096/brss.v7i1.810

Keywords:

MSME Food ;Risk Mitigation;Economiec Policy Uncertainty;Global Economy

Abstract

MSMEs are independent business units managed by individuals or groups that can take the form of individual companies, partnerships, or limited liability companies. Risk is generally always seen as something that has a negative impact, such as loss, danger, and several other consequences. Research objectives: 1) Identifying the risks of food MSMEs in Malang City; 2) Analyze the factors that influence the risk of MSMEs; 3) formulate the concept of risk mitigation of Food MSMEs in situations of Global economic policy uncertainty. Research design: using a quantitative approach by conducting interviews and distributing questionnaires. The research population includes all food MSMEs in Malang City amounting to 16,417 MSMEs. The sample used was 376 MSMEs with a purposive sampling method, the criteria for MSMEs Snacks in Malang City, has been established for at least 3 years. This research uses a descriptive qualitative approach with data collection techniques, namely distributing questionnaires and interviews to several food MSME owners in Malang City as key informants. The results showed that identifying MSME risks is an important step in business risk management. After the risks are identified, MSMEs need to mitigate risks so that they can develop a business risk mitigation concept in order to reduce the losses that will be faced in the uncertainty of global economic policies. The results of the study provide practical benefits for Malang City MSMEs to minimize risks and for policy makers. As well as producing a conceptualization of risk mitigation for food MSMEs in situations of Global Economic Policy Uncertainty.

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