...role of small and medium sized enterprises for economic growth, was undertaken to find out how SME sub-sector in Nigeria has performed and its impact on the economic growth of the country. Small and Medium Scale Enterprises (SMEs) is accepted globally as a tool for empowering the citizenry and economic growth. It has been associated with the rapid economic growth of countries in Asia and North America. In Nigeria efforts have been made by successive governments to reduce poverty and accelerate economic growth by increasing foreign direct investment, diversifying the economy, enacting policy frameworks which favour small business ownership and sometimes initiating employment and entrepreneurship programmes. Specifically this study tends to figure out: how profitable SME business is; whether infrastructural development could be attributed to the presence of SMEs; if significant number of people are employed within the SME sector; whether the SME market has attracted banks and financial institutions with increase in loans and incentives; whether there is increase in information Technology related businesses due to presence of SMEs and if there is need for the government to encourage and develop more opportunities for SMEs. A total of 200 SMEs were randomly selected from Matori, a city in Lagos state Nigeria. A questionnaire was constructed and distributed to the selected SMEs. The responses were collated and analyzed using Statistical Package for Social Sciences (SPSS) analytical...
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...CHAPTER ONE INTRODUCTION Background of the study Ghana’s experience with macro-stabilization and structural adjustment appears to be in line with that of many other developing countries that have pursued similar policies. Their experience reveals that such programs do not lead automatically to the resumption of growth, let alone ensure the transition onto a higher growth path. The recent experience of transition economies has shown that price stabilization and opening up may not be enough to achieve a rise in the trend rates of investment and growth. Recognizing this evidence, policy emphasis has shifted to pinpointing complementary policies that will lead an economy from stabilization to growth. The policy debate today focuses on reforms. Ghana immediately after independence made tremendous effort towards achieving full employment and socio economic development through public investment in medium and large scale enterprises. Notwithstanding the direct involvement and the effort of the government, the sector is saddled with a lot of constraints, including scarce capital, intensive technology, foreign exchange constraints, poor management, corruption and inadequate attention to economic viability and market prospects which has resulted in poor performance of the industries in terms of output and employment (Steel & Webster, 1992). Following an economic recession in the 1980’s which resulted in the retrenchment of workers from the civil service, the rationalization...
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...Accessed: 19/01/2013 08:47 Your use of the JSTOR archive indicates your acceptance of the Terms & Conditions of Use, available at . http://www.jstor.org/page/info/about/policies/terms.jsp . JSTOR is a not-for-profit service that helps scholars, researchers, and students discover, use, and build upon a wide range of content in a trusted digital archive. We use information technology and tools to increase productivity and facilitate new forms of scholarship. For more information about JSTOR, please contact support@jstor.org. . Springer is collaborating with JSTOR to digitize, preserve and extend access to MIR: Management International Review. http://www.jstor.org This content downloaded on Sat, 19 Jan 2013 08:47:56 AM All use subject to JSTOR Terms and Conditions mir vol. 39, 1999/3, 223-256 pp. mir - ^^ · Management International Review © Gabler Verlag1999 Nicole Ε. Coviello/Andrew McAuley and the Smaller Firm: Internationalisation A Review of ContemporaryEmpirical Research1 Abstract ■ Thispaperreviews assessesrecent and research theinternationalon empirical inthecontext Foreign isation smaller of of Direct Investment the firms, theory, modelsof internationalisation, theNetwork and Patterns "Stage" perspective. are also identified acrossa number dimensions, of asincluding ontological firm and methods. characteristics, research sumptions, Key Results ■ The reviewconcludes that SME internationalisation ...
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...do not imply the expression of any opinion whatsoever on the part of the Secretariat of the United Nations concerning the legal status of any country, territory, city or area or of its authorities, or concerning the delimitation of its frontiers or boundaries. The views expressed do not necessarily represent the decisions or the stated policy of the United Nations. Mention of firm names and commercial products does not imply the endorsement of the United Nations. This publication has been issued without formal editing. ii PREFACE The role of small and medium-sized enterprises (SMEs) in national competitiveness and development, as well as in generating jobs and revenues for countless citizens, is well documented. Their meaningful and useful access to Information and Communications Technologies (ICT), particularly the Internet, will significantly enhance this critical role and will drive demand for and innovation in the ICT sector even more. This set of training modules was therefore developed to serve as a policymaking reference on Internet Use for Business Development, principally for middle- to senior-level Internet policy makers and implementers of public policy issues of Internet governance. More particularly, it is intended as an introductory guide to the various issues and legislative/policy options that developing countries should consider as they put into place the policies and...
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...entrepreneur. This paper discusses the impact entrepreneurship has on United States women in the twenty-first century. I will explore the different reasons why women are breaking from the gender-specific roles and venturing into small and medium-scale enterprises (SME). According to Toeh et al. (2008) SME has been recognized as a major source of global economic growth and employment and women entrepreneurs have been acknowledged to play critical roles in bringing their ideas and capabilities towards successful achievement of the SME development in their countries. Even though this approach is beneficial to women, it does not define what is entrepreneurship and how it affects women. Furthermore, I will explain what motivates women to enter small and medium-scale enterprises (SME) and how it relates to motivation factors surrounding demographic characteristics, source of revenue, present constraints, and prospects for revenue. Keywords: entrepreneurship; gender; entrepreneurial factors; women; small and medium-scale enterprises; SME; capital; demographic Introduction Entrepreneurship facilitates more career opportunities to women who engage in small and medium-scale enterprises (SMEs) in various countries. These businesses are increasing gradually and are often geared towards women who have degrees in specific areas. Based on the case study conducted, entrepreneurship impacting women in the twenty-first century will look at different atmospheres from the demographics...
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...the 1960s to date, small and medium sized enterprises (SMEs) have been given due recognitions especially in the developed nations for playing very important roles towards fostering accelerated economic growth, development and stability within several economies (Yitzhaki, 2006). They make-up the largest proportion of businesses all over the world and play tremendous roles in employment generation, provision of goods and services, creating a better standard of living, as well as immensely contributing to the gross domestic products (GDPs) of many countries (OECD, 2000).Over the last few decades, the contributions of the SMEs sector, the development of the largest economies in the world have beamed the searchlight on the uniqueness of the SMEs; and this have succeeded in overruling previously held views that SMEs were only ―miniature versions‖ of larger companies (Al-Shaikh 1998; Gaskill et al. 1993). And although Small and Medium Enterprises have been at the center of the policy debate for quite some time in both developed and developing countries, little analytical work has been undertaken in this area.The dearth information that exists among researchers on Small and Medium Enterprises however provides a sense of how important this sector is for sustainable development in emerging economies (Medina, 2001). For instance, recent studies conducted by United Nations Industrial Development Organization (UNIDO) concur that SMEs are: laborintensive, providing more opportunities for low-skilled...
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...In order to create the competitive advantage necessary to achieve growth, porter suggests that firms should adopt one of the following three generic competitive strategies. Cost leadership strategy, focus strategy and differentiation strategy. First, we talk about Cost Leadership Strategy * This strategy requires the firm establish a lower cost base than its local or international competitors. The firm can win market share by appealing to cost-conscious or price-sensitive customers. * There are three main ways to achieve this. The first is achieving a high asset turnover. In service industries, this may mean for example a restaurant that turns tables around very quickly, or an airline that turns around flights very fast. The second dimension is achieving low direct and indirect operating costs. This requires a continuous search for cost reductions in all aspects of the business. This will include outsourcing, controlling production costs, increasing asset capacity utilization, and minimizing other costs including distribution and advertising. The third dimension is control over the supply chain to ensure low costs. This could be achieved by bulk buying to enjoy quantity discounts, squeezing suppliers on price, instituting competitive bidding for contracts, working with vendors to keep inventories low using methods. * Some commentators have made a distinction between cost leadership, that is, low cost strategies, and best cost strategies. They claim that a low...
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...force behind any outsourcing remains increased competitiveness with a particular focus on reducing costs, it essentially requires certain strengths on part of the suppliers. Considering the fact that most of the suppliers around the world are SMEs, who are resource constrained by nature, the idea of outsourcing can potentially end up to be dichotomous;” competitiveness to be achieved through using resource constrained entities”. Such situations can be much more pronounced in developing economies and in situations where less liberty is available in choosing suppliers. Of the various initiatives undertaken to address this problem, Supplier development stands out. Contemporary literature however suggests that among the major Supplier Development activities, those carrying higher costs are seldom or never undertaken, and even the large firms tend to concentrate on activities involving less or no costs. This paper establishes a relationship between higher Supply Chain performances and the process of Diffusion of practices among firms, thus opening an avenue of no-cost improvement of suppliers, on the lines of buyers. An extensive literature survey is undertaken which forms a basis of an ongoing empirical research on the subject. Keywords: SMEs, Supplier Management, Supply Chain Integration, Diffusion of Innovations....
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...ENTERPRISES (SMES): EXPLORING NON-BANK FINANCIAL INSTITUTIONS AS AN ALTERNATIVE MEANS OF FINANCING THE CASE OF BANGLADESH Submitted To Submitted By James Bakul Sarkar Md. Moniruzzaman Assistant Professor ID: 111091381 School of Business Bachelor of Business Administration Bachelor’s Degree Thesis in Business Administration ACRONYMS SMES SMALL AND MEDIUM-SIZED ENTERPRISES NBFI NON BANK FINANCIAL INSTITUTIONS. FFS FORMAL FINANCIAL SYSTEM IFS INFORMAL FINANCIAL SYSTEM FMF FEDERAL MINISTRY OF FINANCE CBN CENTRAL BANK OF NIGERIA NDIC NIGERIAN DEPOSIT INSURANCE CORPORATION SEC SECURITIES AND EXCHANGE COMMISSION NIC NATIONAL INSURANCE COMMISSION FMBN FEDERAL MORTGAGE BANK OF NIGERIA NDIC NIGERIA DEPOSIT INSURANCE CORPORATION SEC SECURITY AND EXCHANGE COMMISSION NAICOM NATIONAL INSURANCE COMMISSION ABSTRACT TITLE: FINANCING OPTIONS FOR SMALL AND MEDIUM-SIZED ENTERPRISES (SMES): EXPLORING NON-BANK FINANCIAL INSTITUTIONS AS AN ALTERNATIVE MEANS OF FINANCING. AUTHOR: Md. Moniruzzaman SUPERVISOR: James Bakul Sarkar DEPARTMENT: School of Business, United International University COURSE: Bachelor’s Thesis in Business Administration. BACKGROUND AND PROBLEM DISCUSSION: Small and medium sized enterprises (SMEs) are...
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...access to funding is one of the most important constraints to the growth and development of SME’s. Recent developments in our country, the global economic and financial crisis has further degraded the situation in the area and increased the pressure to find alternative sources of funding. Therefore, the search for alternative sources of funding has become increasingly common in recent years. It is based on the close co-operation between investors, intermediaries and entrepreneur. Crowdfunding is solicitation of funds which are collected in small amount from multiple investors through a web-based platform or social networking site for a specific project, business venture or social cause. It allow entrepreneurs to raise...
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...online 2012, 7(2), 351–364 doi:10.5200/1822-9530.2012.22 VERSLO AKTUALIJOS / CURRENT ISSUES OF BUSINESS Experience of growth and continuity in SMEs: A study on the growth aspects of the tourism industry in the Netherlands Taeke Tuinstra1, Johan Mekkes2, Hiske Koldijk3 1 Doctor of Social Sciences Member of Research Chair Entrepreneurship & Risk Finance NHL University of Applied Sciences P.O. Box 1080, 8900 CB Leeuwarden, The Netherlands E-mail: t.tuinstra@nhl.nl; tel.: +3158 2511 637 2 Doctor of Social Sciences Head of Research Chair Entrepreneurship & Risk Finance NHL University of Applied Sciences P.O. Box 1080, 8900 CB Leeuwarden, The Netherlands E-mail: j.mekkes@nhl.nl; tel.: +3158 2511 495 3 Bachelore of Science Researcher at the Institute for Business and Management Studies NHL University of Applied Sciences P.O. Box 1080, 8900 CB Leeuwarden, The Netherlands E-mail: h.p.koldijk@nhl.nl; tel.: +3158 2511 670 Received 29 October 2012; accepted 4 December 2012 Abstract A vast amount of studies stress the importance of growing enterprises for ensuring employment and economic growth in a country. Moreover, there is a wide variety of studies that identify the characteristics of high-growth firms as compared to those of low-growth firms. There exist also the studies that focus on the characteristics of successful entrepreneurs. The results of such studies provide input for governmental bodies seeking to (re)design their policies on economic growth. Scarcer...
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...\ FACTORS AFFECTING THE PERFORMANCE OF WOMEN ENTREPRENEURS IN MICRO AND SMALL ENTERPRISES (THE CASE OF DESSIE TOWN) BY MULUGETA CHANE WUBE BAHIR DAR UNIVERSITY AUGUST, 2010 FACTORS AFFECTING THE PERFORMANCE OF WOMEN ENTREPRENEURS IN MICRO AND SMALL ENTERPRISES (THE CASE OF DESSIE TOWN) A Thesis Presented in Partial Fulfillment of the Requirements for Degree of Master of Arts in Technical and Vocational Education Management By Mulugeta Chane Wube BAHIR DAR UNIVERSITY FACULTY OF EDUCATION AND BEHAVIORAL SCIENCES DEPARTMENT OF EDUCATIONAL PLANNING AND MANAGEMENT AUGUST 2010 BAHIRDAR UNIVERSITY DEPARTMENT OF EDUCATIONAL PLANNING AND MANAGEMENT FACTORS AFFECTING THE PERFORMANCE OF WOMEN ENTREPRENEURS IN MICRO AND SMALL ENTERPREISES IN DESSIE TOWN Approval of Board of Examiners ___________________________ _____________ ________________ Chair person, department Graduate committee Date Signature ___________________________ Advisor _____________ Date ________________ Signature ___________________________ Internal examiner _____________ Date ________________ Signature ___________________________ External examiner _____________ Date ________________ Signature ACKNOWLEDGMENT This work comes in to end not only by the effort of the researcher but also the support of many individuals and organizations. To begin with, I would like to thank Ato Adane Tesera, my advisor, for his constructive suggestions throughout my work. Had it been without his support, this...
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...MICROFINANCE INSTITUTIONS AND ECONOMIC GROWTH OF SMALL & MICRO-ENTERPRISES (SMES) ACASE STUDY OF (UWMFO) MICRO FINANCE INSTITUTION BY HENRY EGYEYU DEDICATION To the memory of my grand father Daniel Egeyu Whose love & enthusiasm for academia first kindled mine? ABSTRACT This research study investigates the impact of microfinance institutions on entrepreneurial development of Small & Micro-enterprises (SMEs) that are craving for growth and development in a war revived district called Gulu. The researcher used questionnaire as an instrument of primary data collection. Tables and simple percentages were used in data presentation. For clear analysis, the study centers on two broad variables; the dependent variable which is entrepreneurial development and the independent variable which is microfinance institutions. Three different hypotheses were formulated and tested using various statistical tools such as chi-square test, analysis of variance and simple regression analysis. The study reveals that (i) there is a significant difference in the number of entrepreneurs who used microfinance institutions and those who do not use them; (ii) there is a significant effect of microfinance institutions activities in predicting entrepreneurial productivity; and (iii) that there is no significant effect of microfinance institutions activities in predicting entrepreneurial development. The researcher concludes...
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...Sampling Procedure 19 3.1.5.Data Collection Methods 19 4. Chapter Four 20 4.1. Data Findings, Processing and Analysis 20 4.2. Findings 20 5. Chapter Five 25 5.1. Conclusion 25 6. References 28 Appendix ……...…………………………………………………………………….31 Abstract Small and Medium Size Enterprises’ (SMEs) learning capacity plays a crucial role in generating ingredients necessary for attaining differential performances. Thus, knowledge acquisition and sharing are prerequisites for attaining competitive edge; it is argued above that essentially, organizations operating within a competitive business environment undertake greater knowledge acquisition and sharing through a wider set of learning orientations. There are two paths by which firms can use knowledge to create and sustain its competitive advantage. Firstly, firms can act internally to spread knowledge that other firms will find almost impossible to imitate, which is referred to as tacit knowledge. Secondly, firms can create superior knowledge management capacity, and in so, doing foster competitiveness. This research analyzes how tacit knowledge and exceptional knowledge management in SMEs can be the basis of sustained competitive advantage in the contemporary...
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...CHAPTER - 1 INTRODUCTION 1.1 INTRODUCTION TO SMEs Small and Medium Enterprises (SMEs) have played a significant role world over in the economic development of various countries. Over a period of time, it has been proved that SMEs are dynamic, innovative and most importantly, the employer of first resort to millions of people in the country. The sector is a breeding ground for entrepreneurship. The importance of SME sector is well-recognized world over owing to its significant contribution in achieving various socio-economic objectives, such as employment generation, contribution to national output and exports, fostering new entrepreneurship and to provide depth to the industrial base of the economy. Small and medium-sized enterprises (SMEs) are the backbone of all economies and are a key source of economic growth, dynamism and flexibility in advanced industrialized countries, as well as in emerging and developing economies. SMEs constitute the dominant form of business organization, accounting for over 95% and up to 99% of enterprises depending on the country. They are responsible for between 60-70% net job creations in Developing countries. Small businesses are particularly important for bringing innovative products or techniques to the market. Microsoft may be a software giant today, but it started off in typical SME fashion, as a dream developed by a young student with the help of family and friends. Only when Bill Gates and his...
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