Challenges and Opportunities of India’s Micro Small Medium Enterprises in the New Era of Post COVID

Abstract This paper examines the possible changes from the new definition of Micro, Small, Medium Enterprises (MSMEs) in the Manufacturing and Services sector using NSS 73rd round data and Annual Survey of Industry (ASI). The paper further analyses the nature of registered/unregistered enterprises in MSMEs. Analysis reveals that 16.1 percent (3.2 million), 38 percent (16.6 million), and 31.2 percent (19.8 million) enterprises are registered in manufacturing, services, and whole economy respectively. It is worthy to note that share of unregistered enterprises in overall loan taken by the enterprises is only 2 percent, the remaining 98 percent of loan has been provided to registered enterprises. Registered enterprises easily access the loan from the formal channels while unregistered enterprises face problems in accessing loan from the formal channels. The regression result shows that the number of skilled workers, the firm’s registration, modernization, and environmental monitor variables have a positive impact on the MSMEs output value. The large enterprises need to make structural changes with focus on generating employment at a larger scale in order to take advantage of the recent trade war between China and other developing countries. There is a simultaneous scope to promote larger enterprises with MSMEs.

Spillover Effect Penanaman Modal Asing terhadap Output Perusahaan Domestik Indonesia 2007-2013

KELUWIH: Jurnal Sosial dan Humaniora ◽

10.24123/soshum.v1i2.3337 ◽

2020 ◽

Vol 1 (2) ◽

pp. 85

Author(s):

Samuel Kharis Harianto ◽

Suyanto Suyanto ◽

Sugeng Hariadi

Keyword(s):

Panel Data ◽

Foreign Investment ◽

Productivity Growth ◽

Manufacturing Industry ◽

Positive Impact ◽

Panel Data Analysis ◽

Spillover Effect ◽

Annual Survey ◽

Data Survey ◽

Abstract—This study aims to analyze Foreign Investment which gives spillover impact on productivity growth of Indonesian manufacturing industry companies in 2007-2013. This study applies the application of quantitative analysis, using the data of the Annual Survey of Large and Medium Enterprises of the Central Statistics Agency of Indonesia (BPS). The data was processed by applying the method of panel data analysis and OLS regression. This research shows that PMA holistically gives a positive impact and gives different impacts to manufacturing industry sub-sector. With different findings, in each sector, different regulations related to PMA in Indonesian manufacturing industry are needed. Keywords: foreign investment, spillover, productivity, manufacturing industry. Abstrak—Penelitian ini bertujuan untuk menganalisis Penanaman Modal Asing (PMA) yang memberikan dampak spillover pada pertumbuhan produktivitas perusahaan- perusahaan industri manufaktur Indonesia periode 2007-2013. Dalam penelitian ini diterapkan pengaplikasian analisis kuantitatif dengan menggunakan data Survey Tahunan Perusahaan Besar dan Menengah Badan Pusat Statistika Indonesia (BPS). Data diolah dengan menerapkan metode analisis panel data dan regresi OLS. Hasil penelitian dengan menggunakan analisis data panel menunjukkan bahwa PMA memberikan dampak positif secara menyeluruh dan memberikan dampak yang berbeda-beda terhadap subsektor industri manufaktur. Dengan hasil temuan yang berbeda di setiap sektornya, maka diperlukan adanya kebijakan yang berbeda pula terkait peraturan PMA di industri manufaktur Indonesia. Kata kunci: penanaman modal asing, spillover, produktivitas, industri manufaktur

Global Business Management Review (GBMR) - Vol 12 No 2 (2020): Global Business Management Review ◽

Islamic Financing for Small Medium Enterprises: Challenges and Opportunities

10.32890/gbmr2020.12.2.4 ◽

2020 ◽

Vol 12 (Number 2) ◽

pp. 50-64

Author(s):

Siti Nurain Muhamad ◽

Wan Nur Syahida Wan Ismail ◽

Nurul Aisyah Awanis A Rahim ◽

Sarah Nadia Ahmad

Keyword(s):

Financial Institutions ◽

Islamic Banks ◽

Slow Mode ◽

Challenges And Opportunities ◽

Islamic Financial Institutions ◽

Medium Enterprise ◽

The Government ◽

Medium Enterprises ◽

Business Financing

This study attempts to discuss the challenges and opportunities of Islamic financing for Small Medium Enterprise (SMEs), as the Islamic finance industry's growth and SMEs are stimulated in this recent year. The government has introduced Islamic SME financing since 2012, and Malaysia has promoted it by granting a rebate for the participated parties, especially Islamic financial institutions. However, the government's opportunities are still in the slow mode to be grabbed by SMEs. With selected literature related to SMEs and Islamic financing, this study discussed SMEs and Islamic banks' practices in Malaysia. Based on the literature, several issues had to be highlighted, such as SMEs' readiness to have the opportunity with larger firms, SMEs' behaviours, and attitudes when dealing with external supports, as well as their awareness of business financing. Thus, this study highlights the challenges and real issues among SMEs and points out the opportunities for improvement that are expected to benefit SMEs and Islamic financial institutions in Malaysia.

The Impact of CRM Strategy on Customer Loyalty in SMEs

International Business Research ◽

10.5539/ibr.v11n11p37 ◽

2018 ◽

Vol 11 (11) ◽

pp. 37 ◽

Cited By ~ 2

Author(s):

Lena Saleh ◽

Laura El Saheli

Keyword(s):

Customer Relationship Management ◽

Customer Loyalty ◽

Service Industry ◽

Positive Impact ◽

Customer Relationship ◽

Long Run ◽

Study Results ◽

Medium Enterprises ◽

The Impact

The beauty service industry is one of the most flourishing industries in contemporary Beirut, the capital of Lebanon, as versatile demands from men and women have catered to this uplifting growth. A national scandal, however, lead to the suspension of several beauty centers, and conveyed a challenge for competitive small-medium enterprises (SME) to sustain relationships with customers over the long-run. The aim of this study was to understand the impact of customer relationship management (CRM) strategy on customer loyalty using the case of beauty centers in Beirut, Lebanon. The study employed a quantitative approach where data was collected by means of a questionnaire, from a sample of 103 customers. Four variables, as components of CRM, were measured in this study. Results of the statistical analysis verified that customer experience, employee behaviour, and value proposition have a positive impact on customer loyalty. This research provides recommendations for strategically improving relationship-oriented practices in Lebanese SMEs, particularly in the beauty sector.

Islamic Financial Institutions And Their Impact On The Development Of Halal SMEs In Nigeria

AZKA International Journal of Zakat & Social Finance ◽

10.51377/azjaf.vol1no01.6 ◽

2020 ◽

pp. 01-24

Author(s):

Tijanni Muhammad ◽

Besar Bin Ngah

Keyword(s):

Financial Institutions ◽

Structural Equation ◽

Positive Impact ◽

Financial Institution ◽

Positive Direction ◽

Islamic Financial Institutions ◽

Effective Models ◽

Medium Enterprises ◽

The Impact

Islamic Financial Institution is considered Halal and Shariah-compliant institution that effectively developed and impacted the role of developing Small Medium Enterprises by sharing similar value, principle, and market activities under Shariah-compliant and business sector. Despite its similarities, there is still low penetration of Islamic financial institutions on the Halal business instrument. However, the business should not only concentrate on Halal business but also financing SMEs is essential. The purpose of the study is to investigate the impact of Islamic Financial Institutions on the development of Halal SMEs in Nigeria. A 350 survey questionnaire was distributed to the twenty (20) Halal Small Medium Enterprises using Structural Equation Modelling and random sampling as an essential investigation tool. The findings justified that the development of SMEs with a significant number of business units and financing from Islamic financial institutions indicates a positive direction and promotes the development of SMEs ' relatively and broader representation of the Halal industry. The study shows a general overview of the positive impact on Islamic financial institutions towards the financing Halal sector and addresses the rate of unemployment in Nigeria. The study recommends strategies for creating a partnership with Middle-East and Asian investors for more effective models and application techniques for financing SMEs and addresses the rate of poverty and unemployment in the country.

Eksistensi Usaha Kecil Menengah dan Pasar Tradisional dalam Kebijakan Pengembangan Pasar Modern

Jurnal Studi Agama dan Masyarakat ◽

10.23971/jsam.v14i1.783 ◽

2018 ◽

Vol 14 (1) ◽

pp. 31

Author(s):

Ahmad Dakhoir

Keyword(s):

Small Businesses ◽

Negative Impact ◽

Positive Impact ◽

Traditional Markets ◽

The Social ◽

Object Of Study ◽

Medium Enterprises ◽

The City ◽

Modern Retailers

<div><table cellspacing="0" cellpadding="0" align="left"><tbody><tr><td align="left" valign="top"><p class="AbstractText">The growing rapidly of modern market in the mid of traditional markets and Small Medium Enterprises has not become energy and instruments in the development of people's economy in Indonesia. The number of modern retailers should also be utilized by small medium businessmen. This paper is aimed at explaining the existence of Small Medium Enterprises (SMEs) and traditional markets amid the rapidly development of modern market. The dynamic is also felt by SMEs and traditional markets in Palangkaraya Town, Central Kalimantan. The method of this study uses descriptive qualitative approach. The object of study is all markets / modern stores and traditional markets in Palangka Raya Town. Based on the results of the analysis, this study reveals that the establishment of modern stores in Palangka Raya Town has a positive impact in the Palangka Raya Town. It becomes one of the factors encouraging the social and economic growth of the city. While the negative impact is that it threatens the resilience of traditional shops / markets and the similar small businesses and it can trigger social vulnerability (unharmonious).</p></td></tr></tbody></table></div>

The Effectiveness of Legal Protection on The Wage of Workers in Small Medium Enterprises in The Culinary Sector

Syiah Kuala Law Journal ◽

10.24815/sklj.v5i2.21291 ◽

2021 ◽

Vol 5 (2) ◽

pp. 154-168

Author(s):

Nur Laily ◽

Elza Syarief ◽

Winda Fitri ◽

Sudisno Sudisno

Keyword(s):

Empirical Research ◽

Small And Medium Enterprises ◽

Labor Law ◽

Legal Protection ◽

Quality Of Education ◽

Skilled Workers ◽

Government Officials ◽

The problem of inequality related to wages for workers in a society that we often encounter must be resolved. So, this study aims to determine the effectiveness of the application of the Labor Law on wages of Small and Medium Enterprises workers in the culinary sector in Batam, as well as to see the obstacles that occur in the implementation of wages of Small and Medium Enterprises workers in the culinary sector of Batam City. This reserach is empirical research that is based on events that have occurred in the field regarding the application of the law through a series of observations, interviews with competent government officials, small and medium enterprises in the culinary sector. This research shows that the wages received by most of the Small and Medium Enterprises workers in the culinary sector in Batam City are not feasible, such as the absence of a work agreement as mandated by the Labor Law. This can occur because the Manpower Law does not explicitly accommodate the interests of Small and Medium Enterprises workers in the culinary sector, then the government's lack of awareness in preparing skilled workers, and the low quality of education of workers.

Cloud Computing Adoption Using TOE Framework for Indonesia’s Micro Small Medium Enterprises

JOIV International Journal on Informatics Visualization ◽

10.30630/joiv.4.4.458 ◽

2020 ◽

Vol 4 (4) ◽

pp. 237

Author(s):

Anderes Gui ◽

Yudi Fernando ◽

Muhammad Shabir Shaharudin ◽

Mazita Mokhtar ◽

I Gusti Made Karmawan ◽

...

Keyword(s):

Cloud Computing ◽

Industrial Revolution ◽

Positive Impact ◽

Small And Medium Enterprises ◽

Factors Affecting ◽

Cloud Computing Adoption ◽

Toe Framework ◽

Medium Enterprises ◽

The Impact

Cloud computing is one of the pillars of the Industrial Revolution 4.0. Cloud computing provides ample benefits to companies such as mobility, ease of access, and enable collaboration. Nevertheless, the impact of cloud computing on the micro, small and medium enterprises (MSMEs) is not well established. This research aims to classify the factors affecting the acceptance of cloud computing in Indonesian MSMEs. A total of 135 participants participated in this analysis. The TOE Structure is used in this analysis. Methods of data collection using Google form. The details have been analysed with SPSS and SmartPLS. The findings demonstrated that top management encouragement and relative advantages have a positive impact on the adoption of cloud computing in MSMEs in Indonesia. In order to increase the adoption of cloud-based computing in Indonesia, cloud-based businesses need to concentrate on these two reasons so that MSMEs in Indonesia can embrace more cloud computing. Furthermore, the improvement of cloud computing adoption should come from government policy and incentives. Theoretically, this research helps to establish the TOE framework by providing empirical evidence. This research also explains that the TOE framework can help companies to understand critical domains that impact their businesses and which domain companies should focus.

Pelatihan dan Pendampingan Digital Marketing bagi UMKM Jasa Laundry menuju UMKM Go Digital

Jurnal Nasional Pengabdian Masyarakat ◽

10.47747/jnpm.v2i2.388 ◽

2021 ◽

Vol 2 (2) ◽

pp. 60-72

Author(s):

Army Justitia ◽

Indah Werdiningsih ◽

Faried Effendy ◽

Taufik Taufik

Keyword(s):

Social Media ◽

Online Teaching ◽

Teaching And Learning ◽

Positive Impact ◽

Digital Marketing ◽

Service Project ◽

Minimal Design ◽

Use Of Social Media ◽

The COVID-19 pandemic has had a significant impact on Micro Small Medium Enterprises (MSMEs), especially laundry services in Plosokandang, Tulungagung Regency. Their primary customers, college students, no longer use their services because of online teaching and learning. The use of social media digital marketing is one solution to promote products and services. Unfortunately, many MSMEs lack this skill. This community service project focuses on training and assisting MSMEs in designing digital marketing content and posting them on their official social media. Canva software was chosen as a tool for content creation because it is simple and quick to use, with minimal design capabilities. Canva offers ready-made templates, so users only need to add their own personal touches. Then, the content is shared on the official social media accounts (Instagram or Facebook Pages). Participants’ and partners’ knowledge and skills improved after following the training. The average increase in participant knowledge of Canva material is 18.62 points, while social media material is 10.79 points. These training and mentoring activities have a positive impact on skills and knowledge related to using Canva and social media for digital marketing. Another effect of digital marketing on social media is an increase in revenue turnover, customer numbers, customer reach, and market sectors.

ECONOMIC REFORMS AND MICRO, SMALL AND MEDIUM ENTERPRISES

International Journal of Research -GRANTHAALAYAH ◽

10.29121/granthaalayah.v5.i5.2017.1875 ◽

2017 ◽

Vol 5 (5) ◽

pp. 394-404 ◽

Cited By ~ 1

Author(s):

Gurneet Kaur

Keyword(s):

Crucial Role ◽

Large Scale ◽

Small And Medium Enterprises ◽

Action Plan ◽

Indian Economy ◽

Challenges And Opportunities ◽

And Performance ◽

Favourable Environment ◽

Definition Of ◽

Micro, Small & Medium enterprises (MSMEs) have played a crucial role in the overall economic development of every developing economy in the world. In India, MSMEs have helped in creating a favourable environment of growth by serving as ancillary units to large scale industries. They not only create huge employment opportunities for the public but also address other challenges faced by the economy like poverty and removing regional imbalances. Keeping in view the crucial role of MSMEs in our economy, the present paper is an attempt to analyze the definition of MSMEs, the role and performance of MSMEs in Indian economy and government policies towards MSMEs as well as the various challenges and opportunities associated with MSMEs in India. The study reveals that over a period of time notable growth has been shown by the MSME sector which has been a leading contributor to export, employment and Gross domestic product in India. Therefore, some sincere action plan and their proper implementation is must for the encouragement of the MSMEs in the Indian economy.

Assessing Effects of Business Innovations on Financial Performance of Small and Medium-sized Enterprises in Kenya: A Case of SMEs in Garissa County

Asian Journal of Economics Business and Accounting ◽

10.9734/ajeba/2020/v19i330307 ◽

2020 ◽

pp. 47-59

Author(s):

Muhumed Buthul Shurie ◽

Clement O. Olando

Keyword(s):

Small Business ◽

Financial Performance ◽

Positive Impact ◽

High Rate ◽

Sample Population ◽

Process Innovations ◽

Product Innovations ◽

Medium Enterprises ◽

Financial Process

Despite the significant positive impact of small and medium-sized enterprises on the economic growth and employment generation, small business enterprises in Kenya are continuously collapsing. The high rate of collapse in threatening their contribution to Kenya’s gross domestic product. Although empirical studies from developed economies have revealed business innovations as the appropriate approach to addressing financial performance of small business, there is scanty documentation on business innovations as being a key determinant of the financial performance of small medium enterprise in Kenya. hence this study which assessed the manner in which the business innovations affects financial performance of Kenyan small medium enterprises. Adopting descriptive research design, the research used the 258 small medium enterprises in Garissa County as its target population from where a sample population of 155 respondents was selected using stratified proportionate random sampling. Data was collected from primary sources using a questionnaire and analysed using quantitative analysis approach to yield descriptive statistics as well as inferential statistics with help of SPSS software Version 21.0. The study concludes that at 0.05 (5%) significance level, each of; financial institutional innovation, financial product innovations has positive and moderate statistically significant effect on financial performance of small and medium-sized enterprises in Kenya while each of; marketing innovation and financial process innovations has a statistically strong positively significant effect on the financial performance of small and medium-sized enterprises in Kenya. The research recommends that the financial performance in Kenya should; actively embark on adopting financial institutional innovations for improving their financial performance, embrace financial product innovations, develop and acquire marketing resources and appreciated and support modern financial process innovations.