Exploration of Technological Challenges and Public Economic Trends Phenomenon in the Sustainable Performance of Indonesian Digital MSMEs on Industrial Era 4.0

Abstract

Digital Transformation creates new potential for MSMEs in developing businesses, especially with Indonesia’s business climate as ASEAN’s largest digital economy country. However, the challenges of digital adoption, especially infrastructure and trends in public economics, need further study, for exploring deeper and more complex factors of small business sustainability from big technical dimensions of technology and business management. Empirical research was conducted to explore empirically the factors of implementing Industrial Advancement Technology 4.0 and Community Economic Trends from External Perspective of Indonesian MSMEs in building sustainable digital business performance. The questionnaires were distributed to 231 respondents who met requirements of Indonesian MSME owners obtained from online survey using purposive sampling technique. This study shows support for all hypotheses proposed as exploration of the supporting factors for sustainable digital business performance. Digital SME mindset needs to be developed by making small businesses on global scale. Integration Big Data and IoT in MSME business resolve all business problems and build innovative business culture, empowering MSME employees to use technology. The internal challenges of business units can be overcome by strategic efforts and utilizing external roles in building sustainable MSME digital business. Collaboration with Quintuple Helix actors can be an option to further build a sustainable digital business.