Rationalization of Fisheries Business Affected by the Covid-19 Pandemic: Case Study: Sungai Batang Village, Province of South Kalimantan, Indonesia

Abstract

The COVID-19 pandemic has a negative impact on the world’s economy including fisheries businesses in Indonesia. A case of study was performed to rationalize fishery business affected by COVID 19pandemic in Sungai Batang Village,South Kalimantan Province of Indonesia,started from August 2020 to May 2021. The research aims at analyzing(1) the profit comparison, (2) the perception of purchasing power and (3) rationalization strategy of fishery business affected by Covid-19 pandemic. A total of64 respondents were selected and deeply interviewed using semi-structured questionnaires. Data were analyzed quantitatively using a range of different equations. The results showed that fishery business profit during the pandemic decreased by 40.86%, while the purchasing power declined by 70.31%.To rationalize fishery business affected by this pandemic, it is strongly recommended (1) controlling fishery commodity production and increasing competitiveness of processed fishery products, (2) managing business cash flow to maintain business operations in a healthy manner through efficiency and effectiveness of production costs coupled with a recovery in the availability of business capital; (3) applying for relaxation of credit loan installment payments from banking institutions or other financial institutions; and (4) expanding the marketing channel of fishery commodities and processed fishery products by activating an e-commerce-based buying and selling portal.