BUMR Development

BUMR or Community-Owned Enterprise is the corporatization of cooperatives to become a business entity that is structured, professionally managed, scalable, and competitive.

Economic development and poverty eradication still pose a daunting challenge faced by many developing nations where much is still needed from all elements in the community to strive towards attaining a common objective.

It is a real initiative that is highly valuable towards the attainment of those development goals. It is a real initiative that is highly valuable towards the attainment of those development goals.is a real initiative that is highly valuable towards the attainment of those development goals.

It is a new dimension in economic development via the institutional development of economic players that is referred to as Badan Usaha Milik Rakyat (BUMR) or People’s Owned Enterprise, that conceptualizes the corporatization of cooperatives and SMEs. SMEs possess the potential that is vital in its contribution to national development, especially in the case of Indonesia where SME’s contribution to the GDP is very significant. BUMR hopes to overcome the challenges that are currently faced by SMEs. BUMR will organize these entities systematically through the inclusion of cooperatives into a private limited company.

In its turn, BUMR is hoped to possess the requisite economies of scale that will lead to profitability for the SMEs, including access to funds and markets. In other words, the BUMR that is now transformed into a string cooperative entity will have the credibility from all other stakeholders.