SMEs In Bali Should Offer Competitive Prices

Denpasar (Antara Bali) - According to Prof (Dr) Wayan Ramantha, an economist from Bali's Udayana University, entrepreneurs running small and medium enterprises (SMEs) in Bali, should sell their products at competitive prices to gain dominance in the domestic market.

"It is unacceptable for products of local SMEs to be defeated by products from China and Malaysia, especially in our own market. Therefore, entrepreneurs running SMEs in Bali should offer competitive prices," Ramantha said on Friday.

According to him, these entrepreneurs should offer competitive prices, if they want to compete and maintain strong business ties in the domestic market.

He also argued that these entrepreneurs will be able to sell their products at competitive prices, since there are many banks and financial institutions that are willing to provide loans.  

Meanwhile, Gede Made Sadguna, Deputy Chief of Indonesia¿s Central Bank (BI), in Denpasar,  said that strengthening SMEs in Bali is very important, since SMEs can survive economic shocks.

"SMEs remain strong, amidst economic shocks, compared to other kinds of businesses, because SMEs usually grow from small businesses, which have been through the selection process," he said.(IGT)