The Huge Digital Economy Demands More Digital Expertise
Have you ever wondered where the next upsurge of Internet economy is going to happen? If you guessed somewhere in Asia, your answer is close. The precise answer is Indonesia. Why? Almost ninety-nine per cent of the household has access to a smartphone and the Internet. With such a populous country, there is no reason to doubt Indonesia’s potential to magnify its digital economy. Indonesia is also home to 5 unicorns which further explains the possible success of software development business to set up shop here in Indonesia. If you think the software development market is saturated, Indonesia has plenty to spare. Here are some reasons for you to set up a software development business in Indonesia.
Living on the Internet
Large segments of Indonesians with useful access to the Internet are the youth. Their habits of spending time over the Internet has also spur software development companies to cater to this segment. The younger generation today is practically living on the Internet. They use the social network and entertainment software to lifestyle management, and for some, even learning via the Internet. Daily, an average youth spends three-quarter of their waking hours on the Internet. For the Indonesian market and beyond, predicting the public’s use of the Internet can be a mainstay for software development companies in the country. The use of big data analytics and the Internet of Things can help you if you want to set up a software development business in Indonesia. But, technical expertise in the country is somewhat limited, given its large young workforce.
Hub for It Experts
Besides being a business for profits, you can also set up a software development business that could be a stepping stone for young IT graduates to nurture their skills. Although there are a limited number of managerial level within the industry, the real works for creating software are mainly open to entry-level. They may acquire plenty along the way and move on to more immense opportunities. But, as an employer, you have the chance to groom them to lead a project. Unicorns may be a temptation for them to jump ship. But, think of it this way. You could be seeing your entry-level junior turn out to be a sought after manager. Apart from tailoring useful software, you are also contributing to the pool of expertise.
The Company That Nurtures
As a foreign investor, you can set up a joint venture with a local partner or a PT PMA. The latter is a limited liability company for foreigner business owners. After managing market research for your business, it is time to prepare a business plan. For starters, you can leave the company name out until you get it approved. Next, prepare the deed of incorporation, which includes an article of association. A notary must submit the deed to the Ministry of Law and Human Rights. Next, register Tax ID for the company. It will be useful for acquiring licenses, bank-related activities and fulfil tax obligations. Then, you need a domicile letter to show your business location. You are almost there. Apply the NIB, business license and location permit (if any).