Proceedings from the 1st International Conference on Law and Human Rights, ICLHR 2021, 14-15 April 2021, Jakarta, Indonesia

Research Article

MSME Funding with Securities Crowdfunding in Indonesia and the People's Economic System

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  • @INPROCEEDINGS{10.4108/eai.14-4-2021.2312871,
        author={Nanin Koeswidi Astuti and Suhariningsih  Suhariningsih and Sukarmin  Sukarmin and Siti  Hamidah},
        title={MSME Funding with Securities Crowdfunding in Indonesia and the People's Economic System},
        proceedings={Proceedings from the 1st International Conference on Law and Human Rights, ICLHR 2021, 14-15 April 2021, Jakarta, Indonesia},
        publisher={EAI},
        proceedings_a={ICLHR},
        year={2021},
        month={10},
        keywords={msme funding securities crowd funding a system of economic society},
        doi={10.4108/eai.14-4-2021.2312871}
    }
    
  • Nanin Koeswidi Astuti
    Suhariningsih Suhariningsih
    Sukarmin Sukarmin
    Siti Hamidah
    Year: 2021
    MSME Funding with Securities Crowdfunding in Indonesia and the People's Economic System
    ICLHR
    EAI
    DOI: 10.4108/eai.14-4-2021.2312871
Nanin Koeswidi Astuti1,*, Suhariningsih Suhariningsih2, Sukarmin Sukarmin3, Siti Hamidah2
  • 1: Universitas Kristen Indonesia, Jakarta, Indonesia
  • 2: Universitas Brawijaya, Malang, Indonesia
  • 3: Universitas Brawijaya, Malang, Indonesia3
*Contact email: nanin.koeswidi@uki.ac.id

Abstract

This paper analyses securities crowdfunding as a funding prospect for MSMEs in Indonesia. The concept of crowdfunding and its relation to the concept of a populist economic system regulated in the economic constitution. Normative research method with legislation and concept approach. The opportunity for SCF to assist capital for MSMEs and start-ups has fulfilled the mandate of the economic constitution but requires stricter supervision from the Financial Services Authority so that SCF related parties and the community can benefit from this SCF, such as opening up business opportunities, and of course the objectives of the economic system. citizenship will be achieved. POJK Number 57/2020 as an SCF regulation aims to protect investors, provide access to capital, market efficiency, provide benefits, and create healthy business competition. Crowd funding is reviewed from Article 33 paragraph 1 of the 1945 Constitution that the economy is structured as a joint effort so that economic actors are not only limited to BUMN, private companies, and cooperatives, but also the community, legal entities, and business entities, so that the principle of kinship and togetherness can be realized.