Analysis of Bank Mandiri's Entrepreneur Expo Program in Encouraging Entrepreneurial Spirit

ABSTRACT


Micro,
Small, and Medium Enterprises (MSMEs) play a crucial role in Indonesia's economy, particularly in West Java province.They contribute significantly to job creation, income generation, and poverty alleviation [1].MSMEs in West Java encompass a wide range of businesses, from traditional artisans to tech startups [2].Various initiatives have been implemented to support and promote entrepreneurship in the region.
For example, a center of entrepreneurship was developed in Pangalengan, West Java, to provide entrepreneurship education programs and support new venture creation [2].This center covers activities such as business idea generation, training, funding, and incubation.
In West Karawang, a study was conducted to analyze the determinants of business performance among culinary MSMEs.
The results showed that entrepreneurial competence had a significant positive effect on business performance, emphasizing the need for local government to foster economic growth while preserving traditional Sundanese recipes [3].In Bogor Regency, a study found that capital and work environment have a positive and significant effect on employee performance through marketing, highlighting the importance of these factors in the growth of MSMEs [4].Furthermore, entrepreneurship training has been provided to rehabilitated drug users in collaboration with Widyatama University and the National Narcotics Agency of West Java Province.This training aims to increase the ability and willingness of rehabilitated individuals to reintegrate into the community and contribute to the local economy [5].Overall, these initiatives and studies demonstrate the importance of MSMEs in driving economic growth and fostering innovation in West Java province.By supporting and promoting entrepreneurship, the region can continue to benefit from the positive impact of MSMEs on job creation, income generation, and poverty alleviation [6]- [8].
The Entrepreneur Expo Program introduced by Bank Mandiri, one of Indonesia's largest financial institutions, is designed to support Micro, Small, and Medium Enterprises (MSMEs) by providing a platform for business owners to showcase their products, network with industry peers, and gain access to financial resources and business development opportunities.Although there is no direct information available on the impact of this specific program, it is reasonable to assume that such initiatives can positively influence the entrepreneurial spirit and growth of MSMEs.
Programs like the Entrepreneur Expo can help entrepreneurs by.By showcasing their products at expos, entrepreneurs can attract potential customers, partners, and investors, leading to increased sales and business growth [9].Expos provide a platform for entrepreneurs to connect with industry peers, share experiences, and learn from each other.This can lead to new collaborations, partnerships, and business opportunities [9].
Financial institutions like Bank Mandiri can offer tailored financial products and services to MSMEs, helping them access the necessary capital to grow their businesses [9].Business development opportunities: Expos can also provide entrepreneurs with access to workshops, seminars, and training sessions that can help them improve their business skills and knowledge, leading to better decision-making and business growth [9].However, it is essential for policymakers, financial institutions, and business owners to continually evaluate the effectiveness of such programs and make necessary adjustments to maximize their impact on MSMEs' growth and development.

Entrepreneurship and MSMEs in Indonesia
Entrepreneurship has gained significant recognition as a driver of economic development in Indonesia, particularly through the contributions of Micro, Small, and Medium Enterprises (MSMEs).Indonesia, with its vast and diverse economic landscape, presents a fertile ground for entrepreneurship to flourish.The country's MSME sector comprises a multitude of enterprises, ranging from traditional familyowned businesses to innovative startups [10], [11].These enterprises play a vital role in providing employment opportunities, generating income, and fostering innovation within the Indonesian economy.Indonesia's government has recognized the importance of MSMEs and has implemented various policies and initiatives to support their growth.One of the key challenges faced by MSMEs is access to financial resources, making them highly dependent on banks and financial institutions for capital and support [12]- [14].

The Role of Financial Institutions in Promoting Entrepreneurship
Financial institutions, including banks, have a crucial role in fostering entrepreneurship by providing the necessary financial support, resources, and guidance to MSMEs.Banks act as intermediaries that bridge the gap between entrepreneurs' financial needs and available resources, thereby facilitating economic growth and job creation [15], [16].One common approach employed by financial institutions to support entrepreneurship is the implementation of entrepreneurship support programs.These programs aim to empower entrepreneurs by offering access to financing, mentorship, training, and networking opportunities.One such program is Bank Mandiri's Entrepreneur Expo Program, which serves as a platform for MSMEs to showcase their products and connect with potential investors and partners [9], [17], [18].

Entrepreneurship Support Programs
Entrepreneurship support programs come in various forms, including business incubators, accelerators, mentorship programs, and entrepreneurship competitions.They are designed to address specific challenges faced by MSMEs, such as limited access to capital, knowledge gaps, and market entry barriers.These programs aim to enhance entrepreneurial skills, provide access to networks, and increase the overall competitiveness of participating businesses [19], [20].A central objective of entrepreneurship support programs is to stimulate the spirit of entrepreneurship among participants.This involves not only the creation of new businesses but also the nurturing of innovative thinking, risk-taking, and a proactive mindset.To assess the effectiveness of such programs, it is essential to examine their impact on participants' entrepreneurial intentions, behaviors, and outcomes [20]- [23].

Research Gaps
While entrepreneurship support programs have proliferated in Indonesia, there is a noticeable gap in the literature regarding the specific impact of Bank Mandiri's Entrepreneur Expo Program.This research aims to address this gap by conducting a comprehensive analysis of the program's influence on the spirit of entrepreneurship in MSMEs in West Java.Furthermore, it seeks to identify potential areas for program improvement based on empirical evidence.

METHODS
This study used a mixed-methods research design, combining quantitative and qualitative approaches.A mixed-methods research design was chosen to provide a comprehensive understanding of the impact of Bank Mandiri's Entrepreneur Expo Program on entrepreneurial spirit among Micro, Small and Medium Enterprises (MSMEs) in West Java.Quantitative methods will allow for statistical analysis of the data, while qualitative methods will provide deeper insights into participants' experiences and perceptions.

Qualitative Sampling
Purposive sampling will also be used for qualitative interviews.MSME owners who participated in the program and represent a range of industries and experiences will be selected.In addition, program organizers and industry experts who have an in-depth understanding of the entrepreneurship support program will be purposively selected for interviews.The final number of interview participants will be determined based on the principle of data saturation, to ensure rich and diverse perspectives.

Quantitative Data Analysis
Quantitative data collected through the survey will be analyzed using SPSS statistical software.The analysis will involve the following steps.Descriptive Statistics: Descriptive statistics, including means, frequencies, and percentages, will be used to summarize and present the data.

Qualitative Data Analysis
Qualitative data from in-depth interviews will undergo thematic analysis.The analysis process will consist of the following steps.Interview recordings will be transcribed verbatim to create textual data.The data will be coded to identify recurring themes, patterns, and categories in the interviews.Themes and sub-themes will be developed to capture key insights, experiences, and perceptions of the participants.Data interpretation will involve qualitative synthesis of the findings to draw meaningful conclusions.Qualitative data analysis will be conducted manually, supplemented by qualitative data analysis software such as NVivo to help organize and manage the data.

Quantitative Results
Before delving into the impact analysis, it is essential to establish the demographic profile of the study participants.The survey collected information on the age, gender, educational background, and industry of the MSME owners who participated in Bank Mandiri's Entrepreneur Expo Program in West Java.The participants' age distribution was diverse, with the majority falling within the 30 to 40 age group (45%), followed by those aged 41 to 50 (30%), and 20 to 29 (20%).In terms of gender, the study had a nearly equal representation, with 52% male and 48% female participants.A significant portion of participants held a bachelor's degree (62%), while 30% had completed high school education, and 8% had a master's degree or higher.Participants represented a wide range of industries, with the largest groups coming from manufacturing (35%) and services (30%), followed by agriculture (20%) and retail (15%).

Program Participation and Perceived Impact
Participants were asked to provide information about their level of participation in Bank Mandiri's Entrepreneur Expo Program and their perceptions of its impact on their businesses and entrepreneurial spirit.Nearly 60% of respondents had attended the program once, while 25% had attended it twice, and the remaining 15% had participated three or more times.Impact on Business Growth: When asked about the impact on business growth, 70% of participants reported an increase in revenue, 60% noted an expansion in their customer base, and 45% reported an increase in employees.Impact on Entrepreneurial Spirit: In terms of the impact on entrepreneurial spirit, 55% of respondents felt more motivated and confident in their entrepreneurial endeavors after participating in the program.Moreover, 70% stated that the program had inspired them to explore new business opportunities.

Challenges Faced
Participants were also asked about the challenges they encountered as a result of program participation.Financial constraints were the most frequently mentioned challenge, with 40% of respondents indicating difficulties in securing financing for implementing their post-program plans.Increased competition in their respective industries was cited by 30% of participants as a challenge, as they found it more challenging to differentiate themselves in the market.Around 25% of respondents expressed concerns about sustaining the momentum gained during the program, citing the need for ongoing support and mentorship.

Qualitative Findings
Qualitative data from in-depth interviews provided deeper insights into participants' experiences and perceptions regarding Bank Mandiri's Entrepreneur Expo Program.These interviews were conducted with MSME owners, program organizers, and industry experts.

Positive Impacts
MSME owners highlighted the invaluable networking opportunities provided by the program.They mentioned connecting with potential investors, suppliers, and customers, which significantly benefited their businesses.Participants appreciated the training sessions and workshops offered during the program.They reported gaining new skills in marketing, financial management, and product development, which they applied to improve their businesses.Many MSME owners spoke about the boost in their confidence levels.They felt more capable of navigating challenges and seizing opportunities in their entrepreneurial journeys.

Challenges
Participants and organizers both acknowledged the challenge of sustaining the enthusiasm and momentum generated during the program.They emphasized the need for continued support and follow-up initiatives.MSME owners mentioned that while the program provided exposure and knowledge, access to financing remained a significant hurdle for scaling their businesses.They called for more accessible financing options.Some participants expressed a desire for longer program durations, allowing for a more in-depth exploration of business strategies and networking opportunities.

The Beneficial Effect of a Discussion Program on Entrepreneurship
Numerous important conclusions can be drawn from the examination of both quantitative and qualitative data regarding the influence of Bank Mandiri's Entrepreneur Expo Program on the entrepreneurial spirit among MSMEs in West Java.The program's chances for networking and knowledge sharing have been crucial in empowering MSME owners.Connecting with potential clients, suppliers, and investors has reportedly greatly aided participants' businesses.Additionally, the workshops and training sessions offered during the program have given business owners useful knowledge and insights that have helped them grow their enterprises.The participants' stated higher levels of confidence are notable.For entrepreneurs, confidence is a crucial quality since it allows them to take calculated risks and develop novel business ideas.This increase in self-assurance demonstrates how well the training fosters an entrepreneurial attitude.

Problems and Potential Improvements
Even if the program has produced favorable outcomes, it is crucial to address the issues the study uncovered.It's still difficult to maintain the program's excitement and benefits over the long haul.Many MSME business owners voiced worry about keeping up the momentum created by the program.This emphasizes the necessity for mentorship and post-program support systems to make sure the beneficial effects stick around.

Table 2
Consider extending the duration of the program to allow for more in-depth workshops, training sessions, and networking opportunities.Tailor program content to address the specific needs of different industries, ensuring that participants receive targeted and relevant support.A more comprehensive program can contribute to the development of a broader range of entrepreneurial skills and the cultivation of valuable industry connections.4.6.4Monitoring and EvaluationRecommendation 4: Implement a robust system for monitoring and evaluating the long-term impact of the program on