The outbreak of Coronavirus Disease (COVID-19) around the world had impacted negatively on global economic. Many countries had entered recession due to the imposition of lockdowns to prevent the spread of COVID-19, including Indonesia which had imposed Large-Scale Social Restrictions (LSSR). As a result, many Micro, Small and Medium Enterprises (MSME) actors were affected by this issue and impacted with many losses in their business, even many MSME actors were threatened with bankruptcy. This problem could certainly impact the Subjective Well-Being (SWB) of MSME actors. In fact, SWB has many useful benefits for MSME actors to maintain and develop their business in current situation. Several ways that could be applied to develop SWB were to have hope and implement proactive coping. When the goals of MSME actors could be achieved, this could increase the SWB of MSME actors. This study aimed to examine the role of proactive coping as a moderator between hope and SWB. Participants in this study included 221 MSME actors in Jakarta who have been running their business for at least one year. The results showed that both hope and proactive coping can have a significant role on SWB with an effect of 29.7%. However, proactive coping did not have moderating effect on the relationship between hope and SWB.