THE ROLE OF FAMILY START UPS IN THE EMERGENCE OF A SMALL BUSINESS SECTOR IN BULGARIA

2009 ◽  
Vol 17 (03) ◽  
pp. 351-375 ◽  
Author(s):  
DENISE FLETCHER ◽  
EMIL HELIENEK ◽  
ZVETA ZAFIROVA
Keyword(s):  
Small Business ◽  
Informal Economy ◽  
Small Businesses ◽  
Small Firms ◽  
Family Relations ◽  
Entrepreneurial Activity ◽  
The Balkans ◽  
The Family ◽  
Start Ups

It is widely reported that entrepreneurial activity has a significant role to play in transition economies such as Central and Eastern Europe but little is known about the role that the family unit plays in facilitating small business emergence in the former command economies. This is surprising given that the link between family and small business development has been widely researched in market economies. In this study, attention is drawn to the role that family relations and resources play in small business emergence. The study focuses on Bulgaria, a country in the Balkans with much cultural diversity and which became a European Union member in 2007–8. Analysis is undertaken of research material drawn from a survey of 69 small firms. 42% of the surveyed firms are two generation businesses involving the entrepreneur and children or parents. 35% of the businesses are three generation businesses involving the lead entrepreneur, parents, children and siblings. The remaining 33% are firms that are run by couples and/or siblings. This suggests that the family household is the key channel for (and of) small business formation. In neglecting the role of family start-ups, this gives a false understanding to the role that households and families sometimes contribute to the economy. At the same time, it is also partly because of this dependency on family relations and resources that small businesses become rooted in the 'informal economy' — an economy that is based on family favours and which it is difficult to break out of.

What Export Trading Companies Mean to Small Business

1984 ◽  
Vol 8 (4) ◽  
pp. 56-62 ◽  
Author(s):  
Charles R. Stoner ◽  
Rajinder S. Arora
Keyword(s):  
International Trade ◽  
Small Business ◽  
Small Businesses ◽  
Small Firms ◽  
International Market ◽  
Well Being ◽  
The Social ◽  
Market Opportunities ◽  
Economic Well Being

Although international trade is essential to the social and economic well-being of our country as well as to our domestic employment situation, relatively few domestic firms are actively involved in exporting. The need and opportunities for international trade are present for small firms. Export Trading Companies may provide the necessary support for small firms to realize their international market opportunities. This paper defines the role of export trading companies and explores their impact on the activities of a typical small business. The attitudes of small businesses toward exporting and the relationships between Export Trading Companies and its member firms are explored.

Perceived Causes of Success in Small Business

1986 ◽  
Vol 11 (2) ◽  
pp. 41-50 ◽  
Author(s):  
A. B. Ibrahim ◽  
J. R. Goodwin
Keyword(s):  
New York ◽  
Small Business ◽  
Small Businesses ◽  
Small Firms ◽  
Success Factors ◽  
Geographical Location ◽  
Managerial Skills ◽  
Key Success Factors ◽  
Small Business Management

This empirical research is a pilot study which endeavours to identify a set of variables associated with successful small businesses. Seventy-four (74) small firms operating in Montreal responded to a lengthy questionnaire and an intensive interview. From this data three variables were initially identified. A replication study of seventy small firms located in Burlington, Vermont and Plattsburgh, New York, was carried out in order to observe whether the identified variables were duplicated beyond a certain geographical location. Using factor analysis on the data, the authors were able to delineate entrepreneurial behavior and managerial skills as key success factors in small business management. This finding underscores the role of entrepreneurship education in developing both the behavioral and the managerial skills in the owner/manager.

scholarly journals THE ROLE OF SMALL BUSINESS WITHIN THE NATIONAL ECONOMY

2020 ◽  
pp. 157-166
Author(s):  
ZOKIR SODIKOV
Keyword(s):  
Small Business ◽  
National Economy ◽  
Small Businesses ◽  
National Income ◽  
Well Being ◽  
Entrepreneurial Activity ◽  
Productive Capacity ◽  
Private Entrepreneurship ◽  
The Impact

The article considers the impact of small business on the development of the national economy, expansion of production, improving the quality of goods and services, increasing employment, strengthening export potential, and efcient organization of imports. In this regard, the analysis of the conditions created in our country, and the basis of the achieved results were done. Also, future challenges and areas for improvement were identifed. One of the priorities in the development of a modern sociallyoriented market economy in our country is to strengthen small business and private entrepreneurship. Economic reforms are underway and a system has been set up to enhance the role of small business. The legal and regulatory framework guaranteeing entrepreneurial activity and structures to assist entrepreneurs have been formed. Small businesses have the opportunity to create new jobs without large capital and to reduce the shortage of certain goods, or even to provide them in full. Nowadays, it is important to analyze regularly the role of small business, which plays a key role in strengthening the productive capacity of the national economy and improving the welfare of the population, based on the conditions and opportunities of our country and draw perspective conclusions about them. At the same time, to substantiate and further improve the results of the ongoing socioeconomic reforms in society, it is necessary to study the development of small business and private entrepreneurship, as well as all sectors of the national economy. This article is the fulfllment of the tasks aimed at achieving these goals. The development of small and medium-sized businesses in the national economy, support for private and entrepreneurial activities will speed up production and ensure a stable supply of goods to the consumer market. As a result, the employment rate in the country will rise and the existing labor force will be able to create value. This process will increase national income and lead to an increase in per capita income. As a result, the national economy will develop, the well-being of the population will increase, and the socio-economic power and political position of the state at the international level will strengthen.

The role of absorbed slack and potential slack in improving small business performance during economic uncertainty

2016 ◽  
Vol 9 (4) ◽  
pp. 474-491 ◽  
Author(s):  
Ali Omar Jifri ◽  
Paul Drnevich ◽  
Larry Tribble
Keyword(s):  
Firm Performance ◽  
Small Business ◽  
Small Businesses ◽  
Small Firms ◽  
Competitive Intensity ◽  
Content Type ◽  
Resource Slack ◽  
Environmental Hostility ◽  
Absorbed Slack

Purpose While previous strategy research has provided significant attention to resource slack and its important roles in firm performance, particularly through strategic agility and flexibility in responding to environmental conditions, the majority of such theory and empirical work was developed for large business contexts. Therefore, the understanding of the relative contributions of absorbed and potential slack, particularly for resource-constrained small businesses, remains largely under theorized and unexamined. As many small businesses often face internal resource limitations, the ability to access external resources, in addition to internal resources, is likely significant, for firm performance, especially when small firms face high economic uncertainty. The paper aims to discuss these issues. Design/methodology/approach In this paper the authors utilize a data set from National Federation of Independent Business on small business economic trends. The sample consists of approximately 13,000 US-based small and medium businesses. Findings The findings highlight the importance of resource slack in firm performance offering general support for the applicability of classic management theories to the small business context. Environmental hostility and competitive intensity appear to positively moderate the observed relationship between both absorbed and potential resource slack and performance, but in different ways. Environmental hostility positively moderates the relationship between potential slack and firm performance, while competitive intensity positively moderates the relationship between absorbed slack and firm performance. Research limitations/implications Because most classic theories in strategic management were only theorized for, and examined through, large organizations, entrepreneurship research should consider these potential limitations and carefully consider factors differing between large and small firms. Practical implications Business owners and managers should be aware that not all types of slack have equal performance implications. Absorbed slack is extremely valuable in highly competitive situation. Therefore, business owners should develop plans to recover absorbed slack during highly competitive situations as a defensive strategy. One the other hand, potential slack forces more accountability, which lowers the possibility of small firms using it to engage in price wars, but it is extremely valuable during worsening economic conditions. Originality/value In this paper the authors separate absorbed slack from potential slack conceptually and then test their individual effects on firm performance. Through this study, the authors establish boundary conditions for the important role of resource slack on performance through the moderating roles of environmental hostility and competitive intensity.

scholarly journals Small and Medium Business: Current Status and Sources of its Innovative Funding

2021 ◽  
Vol 93 ◽  
pp. 02011
Author(s):  
М.А. Feyzullaev ◽  
D.K. Shykhveledova ◽  
Е.V. Dolgov ◽  
R.J. Javadov
Keyword(s):  
Small Business ◽  
Small Businesses ◽  
Equity Capital ◽  
Entrepreneurial Activity ◽  
Current Status ◽  
Fourfold Increase ◽  
Capital Financing ◽  
Medium Businesses ◽  
Small And Medium Business

The article analyzes the current development status of small and medium businesses in Russia. The authors reveal the dynamics of changes in the structure of investments in the Russian economy, where the share of small and medium businesses is especially noted. The direction of the trend and the expected trend of national entrepreneurial activity in the country are determined. The role of state support for small business development is assessed and the main directions in this area are determined. The main sources of financing for small and medium businesses are analyzed. The role of lending in this sector of the economy is noted; issues, risks, and prospects for the use of innovative methods of small business funding are identified. The analysis of the activity of participation of small businesses in the market of debt securities is carried out. In particular, the dynamics of the volume of placement of bonded loans of the small business sector is analyzed, the possibilities of entering the equity capital market through an IPO are being studied. Another innovative area of small and medium business funding is the venture capital financing, which is the most attractive for new startups. The authors revealed a fourfold increase in this type of financing over the past four years. In addition, the article also provides an assessment of alternative sources for small and medium business funding.

Revisiting control aversion: the role of financiers in connecting entrepreneurs to the marketplace

2015 ◽  
Vol 22 (3) ◽  
pp. 417-432 ◽  
Author(s):  
Lars Silver ◽  
Nicolaus Lundahl ◽  
Björn Berggren
Keyword(s):  
Small Business ◽  
Small Businesses ◽  
Structural Equation ◽  
Small Firms ◽  
Market Failure ◽  
Credit Rationing ◽  
Chief Executive ◽  
Content Type ◽  
The Impact

Purpose – The purpose of this paper is to investigate the effects of small business entrepreneurs’ relinquishment of control aversion and the impact of their interaction with external financiers on market connection. Design/methodology/approach – Questionnaires were sent to the chief executive officers of small businesses in the manufacturing and professional services sectors. A total of 459 valid responses were analyzed in a structural equation model. Findings – The attitude of small business entrepreneurs in relying on financiers’ advice is marked by control aversion. This fear of losing control creates information asymmetry, which in itself leads to decreased financing opportunities for small business entrepreneurs. The results of the study suggest that small firms seeking the aid of financiers will be provided with substantial additional information about the market. Issues pertaining to supply seem to be less relevant than those relating to demand, thus indicating that greater focus should be placed on the investment readiness of small businesses. Originality/value – This study emphasizes the importance of the role of attitudes among SMEs in understanding capital market failure and credit rationing.

The Role of SBA Loans in Small Business Survival after Disaster Events

2021 ◽  
pp. 0739456X2110282
Author(s):  
Maria Watson
Keyword(s):  
Small Business ◽  
Small Businesses ◽  
Conditional Logistic Regression ◽  
Small Business Administration ◽  
Confounding Factors ◽  
Term Survival ◽  
Business Survival ◽  
Quasi Experimental

Local businesses are important for recovering communities, yet program analyses of the effectiveness of Federal disaster loans—particularly for businesses—are limited and contradictory. This study looks at the role U.S. Small Business Administration (SBA) Disaster Loans played in the long-term survival of small businesses in Galveston County, Texas after the 2008 Hurricane Ike. This research uses quasi-experimental design, matching methods, and conditional logistic regression to tease out the effect of the loan from potential confounding factors. The results show that businesses that received a disaster loan were significantly more likely to survive than their controls, and businesses that moved were also more likely to survive.

Econometric Analysis Of Factors Influencing The Practice Of Crediting To Small Businesses

2021 ◽  
Vol 03 (05) ◽  
pp. 142-148
Author(s):  
Abdullaeva Sh.Z. ◽  
◽  
Rustamova M. ◽  
Ergashboev M. ◽  
◽  
...  
Keyword(s):  
Small Business ◽  
Small Businesses ◽  
Econometric Analysis ◽  
Factors Influencing ◽  
Further Development

The article provides suggestions and comments on the role of small business in the economy and the further development of its lending system

Characteristics of the ERP Systems Designed for Managing Small Businesses

2021 ◽  
Vol 13 (2) ◽  
Author(s):  
Petar Hlebarov
Keyword(s):  
Small Business ◽  
Small Businesses ◽  
Business Environment ◽  
Business Organizations ◽  
Erp Systems ◽  
Small Organizations ◽  
Business In Society

This article mainly aims to introduce the particular charactersitics of the ERP systems, used for managing small businesses, by answering several basic questions related to this topic: What do we generally understand by ERP systems? What is the essence of ERP for small business? What is the role of ERP for small business? What do we understand by small business? What are the characteristics of small business? What is the role of small business in society? What are the basic problems of small business? What is today’s business environment? In this respect, the report introduces the essence and the role of the ERP systems used for managing small business organizations in a structured and summarized way. It shows how the specific characteristics of small business and today’s business environment affect the ERP configurations, compared to those used in large organizations. At the end of the paper, a summary is provided of the characteristics of the ERP systems used for managing small organizations.

scholarly journals Discriminant Profile of Young Internet Dependents: The Role of Family Relationships

2015 ◽  
Vol 25 (62) ◽  
pp. 353-362 ◽  
Author(s):  
Michele Terres-Trindade ◽  
Clarisse Pereira Mosmann
Keyword(s):  
Young People ◽  
Family Relationships ◽  
Parenting Practices ◽  
Interparental Conflict ◽  
Family Relations ◽  
Educational Practice ◽  
Paternal Behavior ◽  
The Family ◽  
Parent Child

AbstractInternational studies have shown effects of family relations on Internet addiction in young people. This research aimed to outline a discriminant profile of young people classified as dependent and not dependent on the Internet regarding to socio-biodemographic variables to parenting practices, parent-child conflict and interparental conflict. The sample consisted of 200 students (152 girls and 48 boys), between 15 and 24 years of age, 85.5% reside in Rio Grande do Sul and 14.5% in other Brazilian states. Participants responded individually to the protocol available online. The results showed that interparental conflict, parent-child conflict and the educational practice of supervision of paternal behavior discriminate dependents on Internet. The educational practice of maternal emotional support was the only discriminating variable for non-dependents. These national findings corroborate the international context studies and reinforce the importance of including the family in promotion and prevention of mental health of young people.

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