The Indonesian Credit Guarantee Public Corporation (Perum Jamkrindo) sent a team to participate in the European Association of Guarantee Institution (AECM) seminar in Portugal and a benchmarking study with CESGAR Spain.
The team assigned by the company included Nanang Waskito as Director of Human Resources, General Affairs, and Compliance, Subandriyo (Member of the Supervisory Board of Perum Jamkrindo), Kadar Wisnuwarman (President Director of PT Jamsyar), Amin Mas’udi (Head of the Suretyship & Non-Bank Guarantee Division), M. Natsir Rahmadi (Corporate Secretary), and Nina Kurnia Dewi (Head of the MSME Rating & Management Consulting Division).
The AECM seminar, held at the Porto Palácio Congress & SPA Hotel in Portugal from June 21-25, 2016, was themed "Bridges to the Future: The Transfer of Family Business." The seminar was attended by representatives from guarantee companies worldwide.
As an association of guarantee companies in Europe, AECM has established international relations with credit guarantee institutions worldwide and frequently attends events organized by guarantee companies or associations in various regions, such as ACSIC for Asia-Pacific, REGAR for Latin America, and MENA for the Middle East.
The theme of this seminar was considered highly relevant due to the trend of family business origins in Europe. Several speakers and topics presented in this seminar included:
a. Wilhelm Molterer, Vice President and Management Committee Member of the European Investment Bank (EIB).
The speaker discussed the European investment plan to make Europe a strategic investment destination. The benefits of investing in Europe include closing the investment gap and sustaining economic growth despite slow global conditions.
Common reasons for investment include (1) investment and competition, (2) high liquidity in the market, (3) public budget constraints, and (4) financial and non-financial investment barriers. Increasing investment in Europe is essential due to existing gaps in certain conditions.
b. Lex van Teeffelen, Professor of Finance & Corporate Acquisitions, Center for Business Innovation Research, HU Business School, Utrecht, Netherlands.
Characteristics of successful family businesses in the international landscape include:
- Initially, family businesses generally avoid risks and are not proactive.
- Once they identify opportunities, they act quickly and pursue them.
- After the initial steps, family businesses become more focused on subsequent actions.
c. Pablo Pombo González, Founding President of AECM, Secretary General of the Ibero-American Guarantee Network (Regar).
The speaker discussed successful family businesses. According to him, succession is one of the key processes for continuity, development, and proper functioning of family businesses. Family business succession involves more challenges than non-family businesses due to the complexities inherent in the process, including emotional aspects within the family.
Two important factors in family business are:
(1) Separating family matters from work relationships.
(2) Principles and rules arising from dialogue and mutual agreement are crucial in managing family-business relationships.
VISIT TO CESGAR SPAIN
A visit to CESGAR in Madrid, Spain, an association of mutual guarantee companies, took place on Monday, June 27, 2016. CESGAR is an association of financial institutions that provide guarantees to facilitate financial access for SMEs and individual enterprises in Spain.
There are 20 mutual guarantee companies in Spain that are part of CESGAR, including AvalMadrid, Iberaval, and SGR. Each guarantee company primarily aims to facilitate credit access and improve the overall conditions of partner financing companies.
PERUM JAMKRINDO LEARNING OUTCOMES
Perum Jamkrindo’s learning activities through participation in the AECM Seminar in Portugal and the study of Spain's guarantee schemes via CESGAR brought several benefits, including:
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Gaining experience in attending the Annual Meeting of the European Guarantee Association (AECM), where several working groups were established based on fields such as Agriculture, Banking Supervision, SME Policy, State Aid, Statistics and Studies, Structural Funds, and Training.
From these activities, insights were gained into the role of AECM in accommodating members' needs for policy information, business development, and efforts to enhance the knowledge and skills of guarantee companies. -
Acquiring knowledge about trends in family business development in Europe and how they transform into more professional enterprises. This aligns with Indonesia's efforts to develop SMEs through business scaling, SME data collection, database development, ranking, and management consulting, which Perum Jamkrindo is currently conducting.
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Gaining information and contributing to the initiative for the establishment of the Global Network of Guarantee Institutions (GNGI), initiated by AECM, to create a global credit guarantee community that prioritizes voluntary cooperation with no politics and no cost.
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Obtaining information on Spain's guarantee schemes through the CESGAR association.
Furthermore, several activities attended by Perum Jamkrindo in Portugal and Spain align with the company's role and function as a guarantee institution:
a. As one of the main members of ASIPPINDO, a guarantee company association.
b. Benchmarking SME guarantee schemes/patterns in several countries.
c. As a provider of guarantee services in accordance with the Guarantee Law, supporting both bank and non-bank guarantee businesses, as well as government and non-government guarantee programs.
d. Strengthening Perum Jamkrindo’s position as a leading guarantee company supporting economic growth through guarantee activities. (*)