Open Journal Systems

Bank Loan Financing for Small and Medium Enterprise: Interactive Game Industry Player Perspective

Wawan Dhewanto, Sri Herliana, Ilham Fadhil, Nur Lawiyah

Abstract


Abstract. The interactive game sector is one of the promising industries in Indonesia. Indonesia is a developing country, where the creative industry sector in the application and game developer fields is growing well. This developing industry needs supporting infrastructure such as financing and human capital supply. Companies need financing for their operations, marketing, and business expansion. Various funding sources are available for companies such as venture capital, bank loan, personal savings, and liability certificates. Bank loan, a form of conventional financing has its own advantages to support the interactive game industry. On the other hand, the capital structure of interactive game SMEs (small and medium enterprises) holds a small portion of loans, especially bank loan. This study aims to analyze the role of financing support, especially bank loan support for the Indonesian interactive gaming SMEs. The results of the study show that bank loan, although less favored, has the potential to engage more deeply in the interactive gaming industry environment. The study also shows that this type of business has not been maximally touched by banks in financial support. Furthermore, the results show that SMEs that are still in the early stages are more likely to focus on human resources than financial resources. Nevertheless, they still need financial support in several aspects of business development, although not necessary from the support of bank loan.

Keywords: Financing, interactive game company, bank loan, small and medium enterprise, Indonesia

 

Abstrak. Sektor permainan interaktif adalah salah satu industri yang menjanjikan di Indonesia. Indonesia sendiri merupakan negara berkembang, dimana sektor industri kreatif di bidang aplikasi dan game developer sedang berkembang baik. Industri yang sedang berkembang ini membutuhkan infrastruktur pendukung seperti pembiayaan, dan pasokan modal manusia. Perusahaan membutuhkan pembiayaan untuk operasi mereka, pemasaran dan ekspansi bisnis. Berbagai sumber pendanaan tersedia untuk perusahaan seperti modal ventura, pinjaman bank, tabungan pribadi, dan sertifikat obligasi. Pinjaman bank, bentuk pembiayaan konvensional memiliki kelebihan sendiri untuk mendukung industri permainan interaktif. Di sisi lain, struktur permodalan UKM (usaha kecil dan menengah) permainan interaktif memegang porsi kecil untuk pinjaman, terutama pinjaman bank. Penelitian ini bertujuan untuk menganalisa peranan dukungan finansial untuk UKM game interaktif, dalam hal ini adalah dukungan pinjaman bank. Hasil penelitian menunjukkan bahwa pinjaman bank meskipun kurang disukai, memiliki potensi untuk terlibat lebih dalam di lingkungan industri game interaktif. Dari sisi bank pun menunjukkan bahwa jenis bisnis ini belum maksimal tersentuh oleh bank dalam dukungan keuangan. Hasil lain juga menunjukkan bahwa UKM yang masih berada di tahap awal usaha lebih cenderung fokus pada sumber daya manusia dibandingkan sumber daya keuangan. Meskipun demikian mereka tetap membutuhkan dukungan keuangan dalam beberapa aspek pengembangan usaha.

Kata kunci: Pembiayaan, perusahaan game interaktif, pinjaman bank, usaha kecil dan menengah, Indonesia


Full Text:

PDF

References


Abdullah, M. A., & Manan, S. K. A. (2011). Small and Medium Enterprises and Their Financing Patterns: Evidence from Malaysia. Journal of Economic Cooperation & Development, 32(2), 1–18.

Adrian, D., & Dhewanto, W. (2018). Regulating p2p lending in Indonesia: lessons learned from the case of china and india. Journal of Internet Banking and Commerce. Retrieved from http://www.icommercecentral.com/open-access/regulating-p2p-lending-in-indonesia-lessons-learned-from-the-case-of-china-and-india.php?aid=86883

Afraz, N., Hussain, S. T., & Khan, U. (2014). Barriers to the Growth of Small Firms in Pakistan: A Qualitative Assessment of Selected Light Engineering Industries. The Lahore Journal of Economics, 19, 135–176.

Ang, J. S. (1991). Small business uniqueness and the theory of financial management. The Journal of Entrepreneurial Finance, 1(1), 11–13.

Åstebro, T., & Bernhardt, I. (2003). Start-up financing, owner characteristics, and survival. Journal of Economics and Business, 55(4), 303–319. https://doi.org/10.1016/S0148-6195(03)00029-8

Badan Ekonomi Kreatif. (2017). Profil usaha/perusahaan 16 subsektor ekraf berdasarkan sensus ekonomi 2016 (SE2016). Badan Pusat Statistik.

Beck, T., & Demirguc-Kunt, A. (2006). Small and medium-size enterprises: Access to finance as a growth constraint. Journal of Banking & Finance, 30(11), 2931–2943. https://doi.org/10.1016/j.jbankfin.2006.05.009

Berger, A. N., & Udell, G. F. (2006). A more complete conceptual framework for SME finance. Journal of Banking & Finance, 30(11), 2945–2966. https://doi.org/10.1016/j.jbankfin.2006.05.008

Berma, M. (2013). Financing gap in Malaysian small-medium enterprises: A supply-side perspective. South African Journal of Economic and Management Sciences, 16, 115–n/a.

Bitzenis, A., & Nito, E. (2005). Obstacles to entrepreneurship in a transition business environment: the case of Albania. Journal of Small Business and Enterprise Development, 12(4), 564–578.

Carpenter, R. E., & Petersen, B. C. (2002). Is the Growth of Small Firms Constrained by Internal Finance? Review of Economics and Statistics, 84(2), 298–309. https://doi.org/10.1162/003465302317411541

Cassar, G. (2004). The financing of business start-ups. Journal of Business Venturing, 19(2), 261–283. https://doi.org/10.1016/S0883-9026(03)00029-6

Colombo, M. G., & Grilli, L. (2005). Start-up size: The role of external financing. Economics Letters, 88(2), 243–250. https://doi.org/10.1016/j.econlet.2005.02.018

Colombo, M. G., & Grilli, L. (2007). Funding Gaps? Access To Bank Loans By High-Tech Start-Ups. Small Business Economics, 29(1–2), 25. https://doi.org/http://dx.doi.org/10.1007/s11187-005-4067-0

Cosh, A., Cumming, D., & Hughes, A. (2009). Outside Enterpreneurial Capital. The Economic Journal, 119(540), 1494–1533.

Dana, L.-P., & Dumez, H. (2015). Qualitative research revisited: epistemology of a comprehensive approach. Int. J. Entrepreneurship and Small Business, 26(2), 154–170.

Denis, D. J. (2004). Entrepreneurial finance: an overview of the issues and evidence. Journal of Corporate Finance, 10(2), 301–326.

Hogan, T., & Hutson, E. (2005). Capital structure in new technology-based firms: Evidence from the Irish software sector. Global Finance Journal, 15(3), 369–387. https://doi.org/10.1016/j.gfj.2004.12.001

Kasturi, S. V., & Bala Subrahmanya, M. H. (2014). Start-ups and small scale industry growth in India: Do institutional credit and start-ups make a difference? International Journal of Entrepreneurial Venturing, 6(3), 277–298. https://doi.org/10.1504/IJEV.2014.064692

Kementerian Koordinator Bidang Perekonomian. (2016). Mekanisme penyaluran kur. Retrieved from http://kur.ekon.go.id/bank-rakyat-indonesia

Kementrian Pariwisata dan Ekonomi Kreatif. (2014). Ekonomi Kreatif: Kekuatan Baru Indonesia Menuju 2025 (Rencana Aksi Jangka Menengah 2015-2019). Kementrian Pariwisata dan Ekonomi Kreatif.

Maulina, R., & Dhewanto, W. (2013). Embodying Bank Market: A New Business Model towards Total Financial Inclusions. In Proceedings of 3rd Asia-Pacific Business Research Conference. Kuala Lumpur, Malaysia.

Minola, T., & Giorgino, M. (2011). External capital for NTBFs: the role of bank and venture capital. International Journal of Entrepreneurship and Innovation Management, 14(2–3), 222–247.

Mobygames.com. (2010). Matahari Studios Ply Ltd. Retrieved from https://www.mobygames.com/company/matahari-studios-ply-ltd

Montgomery, M., Johnson, T., & Faisal, S. (2005). What kind of capital do you need to start a business: financial or human? The Quarterly Review of Economics and Finance, 45(1), 103–122. https://doi.org/10.1016/j.qref.2003.11.005

Peon, D., Calvo, A., & Antelo, M. (2015). On informational efficiency of the banking sector : a behavioral model of the credit boom. Studies in Economics and Finance, 32(2), 158–180. https://doi.org/10.1108/SEF-04-2013-0050

Tmava, Q., Peci, F., & Luboteni, G. (2013). The Role of Banks in Small and Medium Enterprises Financing: A Case Study from Kosovo. International Journal of Economics and Finance, 5(12), 94–103.

Trinugroho, I., Agusman, A., & Tarazi, A. (2014). Why have bank interest margins been so high in Indonesia since the 1997/1998 financial crisis? Research in International Business and Finance, 32, 139–158. https://doi.org/10.1016/j.ribaf.2014.04.001

Vos, E., Yeh, A. J.-Y., Carter, S., & Tagg, S. (2007). The happy story of small business financing. Journal of Banking & Finance, 31(9), 2648–2672. https://doi.org/10.1016/j.jbankfin.2006.09.011




DOI: http://dx.doi.org/10.12695/jmt.2019.18.3.2

Refbacks

  • There are currently no refbacks.