As We know, that world now is facing global Crisis. Not only In America, but also spread all over the world. It Affect Macroeconomic of many country, Value of Currency go deep down, and realtively rare to up again as long this condition. Market price of In All stock exchange down too. Panics everywhere, especially for business man. they worried that their asset will be valueless, so they sold it as fast as possible. Meanwhile, in America which is center of Economic Activites isnt goog too. The first business which is be affected by this crisis in america is Properties. Price of properties are down, people no longer distrust to buy property because Value of Dollar currency is deep and deep again. Soon. many business sectors was affected too such as insurance, bank, and Leasing.
If we wan to know about the fundamental factor which is causes global crisis we have to know someone, he is "Joseph J. Cassano". He is a manager of AIG finance. So, why we have to know about this person? The answer is he formulating a new method to anticipated subprime mortgage, named Credit Default Swaps (CDS). CDS is a method that a corporation (In this Case is AIG) loans of Europe Bank who has excess fund. In europe, people want to deposit their money in bank, relatively high so bank must pay more interest to their customer. They want to avoid this condition, so they use CDS method. With this method, they feel save to giving loan to American Finance Corporation such as Lehmann Brothers, Goldman Sachs, etc. Why they feel save?
Because they get guaranteed from AIG from subprime mortgage. So if Lehmann brothers fails to payback their loan. AIG as a guaranter must be paid to European Bank. But, at first, European Bank must paid some fee to AIG regularly, usually maximus is 100 base poin, But AIG want to be paid in 500 base poin. European Bank deal to pay fee. Why they deal it? Because the interest rate is far bigger. second,And, most important, although banks Europe to give credit to financial institutions that the collateral is the credit-credit failed to pay as originating from the subprime
mortgage, is not considered in violation of the Basel II.Lehman Brothers is one of many examples who is being affected by global crisis. Lehman brothers actually is a victim of a method for anticipating subprime mortgage.
that is the cronological of global crisis. But what the relation to small Scale enterprises as survivor?we know that a very big company like Lehmann brothers, bankrupted.
able to survive because. first, do not have debt, the two are not many debts to the banks because they are considered unbankable. The third use of local input. fourth, export oriented.
In 1997-2008 there are 99 % of small scale enterprises from all business unit in indonesia SSE give 54-57 % in Indonesia Gross domestic bruto. And Give 96 % of Employing people indonesia. 91 % of Small Scale enteprises in indonesia export their product using an intermediating purchase person or indirect. Only 8.8 % doing directly export sales in foreign. But their survive ability of Small scale enterprises is so amazed. Especially, after price of Oil is rising up. They are very "disturbed" because this policy is also rising up their production cost.
Today, SSE facing 7 challenges to be survivor in this global crisis. they have to overcome it, before its too late.
- There are no Specific of Job Assignment
- Access to get Credit from formal Bank still Low
- Almost of SSE doesn't have a legal firm
- Export trends and commodities of Indonesia's SSE is fluctuative
- Raw materials (price, limited stock,distance from sourcs to market,)
- Employee Problems (unskilled employee, unstable condition, salary is too high)
- Almost SSE is hard to market their product abroad or out of his town
I-- As author and college student-- hope that Indonesia's SSE be a strong companies and compete with others business even from foreign country.
P.S : Now, i have a pilot project in Entrepreneurship Lesson. practice it in real business. so i'm an amateur entrepreneur now ^0^. Wish me luck
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