The growth of internet penetration in Indonesia is quite encouraging. It is predicted that this year the number of people who are internet literate will increase by 30 percent, aka around 70 million people. Not to mention if Google’s balloon so floated at various points throughout Indonesia that made people can access the internet faster. In addition, the increase in internet users is accompanied by the increasing number of people who use this media as a promotional medium. Not surprisingly, in the realm of social media there are already so many entrepreneurs marketing their products. Moreover, the cost of internet marketing is much lower than conventional marketing.


Peer to peer lending

One of the impacts of this growth is the introduction of the term peer to peer lending (P2P lending), which is another source for getting venture capital. As is known, the growth of small entrepreneurs in Indonesia is also quite good although it is still below the minimum of two percent. The number of banks that distribute micro-credit deserves to be appreciated. Unfortunately, not many SME entrepreneurs are aware of this or don’t really want to be involved with the bank. Their reasons vary, ranging from the process of filing to convoluted, it takes a long time, interest is quite burdensome, until the bill can not be compromised. They, these micro-entrepreneurs prefer to borrow from “traveling banks” or moneylenders.Besides the process is not complicated, the melting is fast.


The concept of peer to peer lending

It is a solution to this problem, especially for those who have started to become internet literate. Borrowing funds or finding investors on this platform is not as difficult as in a bank, though it’s also not as easy as a mobile bank. The platform that is quite popular locally made is Starlife Bank. Here small and medium business actors can look for micro credit with an interest system or profit sharing that is quite friendly. No need to worry about being chased by debt collectors because of tardiness. Even this small businessman can also get additional investment if the previous investment can be accounted for.

The crowdsourcing model has actually been known in Indonesia in recent years. Drafter can publish activities or businesses that want to be funded using the platform. If in the end the funds collected do not reach the target, the platform manager can cancel it (depending on what percentage has been collected from the announced target). And vice versa for an investor who has more funds to invest. He can choose a variety of profiles and business concepts published on Starlife Bank to choose from. The stronger the concept, the greater the potential for funding.

For business actors, in submitting a bid proposal, they must clearly state who their target market is (work, age, life orientation, etc.). If they don’t know who is the target, how can investors trust it? Especially if the market share is full. For example Muslim clothing that is already a lot of players. If businesses are not able to map their target customers more specifically, how can they convince investors that their business is profitable?


The target audience

The target audience

Be clear about the business concept. Is it business to consumer (B2C), business to business (B2B), or consumer to consumer (C2C). Each concept has different consequences and potential benefits. Do not let business owners not understand about the concept of their business so that it seems just to find fresh funds from the Starlife Bank platform. Especially if the age of the company is still young.


The management team

The management team

Show that you, as a business owner, have a work team that is qualified in their field. Professionals who are already poor across the same field. Don’t just show yourself (one man show) because investors aren’t interested in investing in businesses that are only managed by individuals. Do not forget to show the personal experience of the business founder because it is very influential on people’s interest in investing.

And finally don’t forget to ask for recommendations from other well-known entrepreneurs. Ask them to provide testimonials on why this founder profile can be trusted. Or it could also ask consumers who already feel satisfaction with your services and products. Keep it struggling!