JAKARTA, Sept. 2 : Startup companies in Indonesia now have to change their business strategies to more efficient and profit-oriented ways to survive the"bubble burst."
Indonesia has 40 per cent of South-East Asia's Gross Merchandise Value of US$ 70 billion in 2021, which is expected to rise to US$146 billion in 2025, according to the e-Conomy SEA 2021 report"Roaring 20s: the SEA Digital Decade" researched by Google, Temasek, and Bain & Company. When the"bubble burst" of funding sources comes, efficiency is the only option for those who are not yet profitable to survive, said Danusaputro. These startup companies have to reduce promotions, delay expansion, tighten cash flow, and even cut the number of employees.
Venture capital firm AC Ventures said two years ago was a golden period for startups amid the pandemic that triggered people to switch their activities to online, but now market expectations have changed a lot due to the economic crisis.