scholarly journals Key Factors of Small Business Success: Literature Review

2015 ◽  
Vol 6 (4) ◽  
pp. 30-36
Author(s):  
Małgorzata Okręglicka
Keyword(s):  
Small Business ◽  
Literature Review ◽  
Continuous Improvement ◽  
Small Firm ◽  
Small Businesses ◽  
Business Success ◽  
Key Factors ◽  
Firm Success ◽  
The World ◽  
National Economies

The success of small businesses sector is crucial for national economies of all countries around the world. This is why the constant analysis of determinants responsible for small firm success is necessary. It allows for a quickreaction to changingbusiness conditionsandthe continuous improvement ofmanagement methods. Literature reviewindicated that theanalysis of key success factorsof smallbusinesses is a commonlyundertakensubject, although it is difficult tofind acomprehensivestudy, completely classifying the determinants ofsuccessaccording to certain criteria.

scholarly journals COVID and Small Businesses in the U.S., China, and Russia: Three Models of Government Support

2020 ◽  
Vol 1 (2) ◽  
pp. p14
Author(s):  
Andrey Mikhailitchenko ◽  
Yang Sun ◽  
Sanjay Varshney
Keyword(s):  
Small Business ◽  
Small Businesses ◽  
Government Support ◽  
Business Sector ◽  
Critical Importance ◽  
Protective Measures ◽  
The World ◽  
National Economies ◽  
The Impact ◽  
The U.S

The impact of the world COVID crisis on small businesses was extremely destructive. Governments of different countries being aware of critical importance of small business sector to national economies and societies as a whole undertook measures aimed at SME support. While the devastating effect of COVID on small business is quite comparable across the world, the scale and efficiency of government protective measures differ a lot in various countries. In this paper we made an attempt of comparative analysis of governmental efforts to protect small business economies on the example of SMEs in three countries: the U.S., China, and Russia.

scholarly journals Organizational and economic features of the functioning of small enterprises of the forest sector of economics and the causes of strengthening the deformation of enterprise activity

2018 ◽  
Vol 80 (2) ◽  
pp. 490-496
Author(s):  
E. A. Kolesnichenko ◽  
Yu. M. Sokolinskaya
Keyword(s):  
Small Business ◽  
Small Businesses ◽  
Forest Sector ◽  
Careful Study ◽  
Economic Policies ◽  
Economic Management ◽  
Strategic Resources ◽  
The World ◽  
Reducing Costs ◽  
Regional Budgets

In modern Russian conditions of economic management, it is important to analyze deformations in the development of small business in those sectors of the economy that are strategically important for the development of the economy of the whole country. So, for Russia strategic resources, determining the vector of development of its economy, among others are forestry. This is due to the fact that Russia is the world's largest country with forest resources. It ranks first in the world in terms of forest area and the volume of timber reserves. In addition, the development of entrepreneurship in forestry, including small business, is the most problematic in the current economic conditions. Due to the specific scope and the lack of financial capacity of small businesses in this sector demonstrates the lack of effectiveness in its development, which is reflected in the increase in arrears to the budgets of all levels, increasing the size of the shadow work and others. The results of the survey of small business leaders revealed that businesses can to lead a part of the activity into the shadow, first of all, with the goal of reducing costs. According to the estimates of the World Wide Fund for Nature, the extent of deforestation in the informal sector in Russia is more than 30%, and in the surplus regions up to 59-70%. According to expert estimates, federal and regional budgets are losing every year in this connection from 1 to 1.5 billion rubles. forest payments. The reasons for the deforming activities in small business are inadequate state, legal and economic policies and the lack of effective measures to support small business. This necessitates a more careful study of the implemented instruments of state support for small business in the forest sector of the economy, taking into account the currently existing factors of business deformation.

ANALYSIS OF KEY TRENDS OF THE INTERNATIONAL COAL MARKET (ON THE EXAMPLE OF THE COUNTRIES OF NORTH-EASTERN ASIA)

2021 ◽  
pp. 96-105
Author(s):  
Andrey V. Cherechukin ◽  
Keyword(s):  
Raw Materials ◽  
Northeast Asia ◽  
Primary Energy ◽  
Key Factors ◽  
Factors Affecting ◽  
North Eastern ◽  
The World ◽  
Coal Market ◽  
National Economies

The article provides an analysis of key trends in the international market, using the example of the countries of Northeast Asia. In 2019, the world coal market amounted to 1,424.5 million tons, of which 78.1% are energy grades to produce electricity and heat, and 21.9% are in metallurgy, the reserves of which are significantly less. The import coal market of the countries of Northeast Asia in 2019 was already 680 million tons, covering 48% of the entire world coal market. The paper provides an overview of the key importers and exporters of coal in the world, the quantitative and qualitative characteristics of the supplied raw materials, and analyzes the key factors affecting the pricing of coal. In the conclusions, the main trends in the international coal market of the countries of Northeast Asia are presented, including "geographical" — the shift of the center of world trade from Europe to Asia, and "types and quality of imported coal" — an increase in the share of high-quality premium energy and coking (metallurgical). Trends can be clearly seen in the countries of Northeast Asia, which actively use coal, and are making efforts to decarbonize their national economies, while intensifying inter-fuel competition with other primary energy sources.

Prediction model of business success or failure for Palestinian small enterprises in the West Bank

2018 ◽  
Vol 10 (1) ◽  
pp. 60-80 ◽  
Author(s):  
Samir D. Baidoun ◽  
Robert N. Lussier ◽  
Maisa Burbar ◽  
Sawsan Awashra
Keyword(s):  
Small Business ◽  
Small Businesses ◽  
Small Firms ◽  
West Bank ◽  
High Rate ◽  
Business Failure ◽  
Business Success ◽  
The West ◽  
Content Type ◽  
Random Guessing

Purpose The aim of this study is to examine the factors that lead to success or failure of a small business in the West Bank of Palestine. Design/methodology/approach This study methodology is a survey research, testing the Lussier model of business success and failure with a sample of 246 small businesses (90 failed and 156 successful) to better understand the reasons of their success or failure using logistic regression statistical analysis. Findings The model is significant (p = 0.000); it will predict a group of businesses as successful or failed more accurately than random guessing 99 per cent of the time. The model will also predict a specific small firm as successful or failed 94 per cent of the time vs. 50 per cent for random guessing. The r-square is very high (r = 0.70), indicating that the model variables are, in fact, significant predictors of success or failure. Results indicate that having adequate capital, keeping good records with financial controls, making plans and getting professional advice on how to manage the firm are the most important factors for the viability and success of small businesses. Practical implications With the high rate of small business failure globally, results of this study provide a list of variables that contribute to the success of small firms. Firms that focus on these important factors will increase their odds of success. Thus, avoiding failure, firms better utilize resources that contribute to economic growth. Originality/value This is the first study that looks at success and failure of small businesses in Palestine. There is no one single accepted theory that may be applied to small businesses. This paper aims to further contribute to the global validity of Lussier success and failure model moving toward a theory to better understand why some businesses succeed and others fail.

Continuous Improvement Relationship to Risk Management

2018 ◽  
Vol 5 (2) ◽  
pp. 1-14 ◽  
Author(s):  
Brian J. Galli
Keyword(s):  
Risk Management ◽  
Continuous Improvement ◽  
Competitive Market ◽  
Developing Strategy ◽  
Key Factors ◽  
The World ◽  
Different Types ◽  
The Relationship ◽  
A Company

In order for a company to economically survive, it needs to compete with a highly competitive market. The world is changing fast, adding different types of risks to companies. So, companies need to not only meet requirements but also exceed them. At the same time, companies are required to lower the level of risks they may encounter. As a result, continuous improvement and risk management should be key factors to insure company success. This study explores the relationship between the two concepts and gives examples where the interconnections between them exist. Also, the study explains the important key components of continuous improvement and the classifications of risk management. Finally, this article focuses on three aspects, managing complaints, developing strategy, and creating a suitable culture. These aspects are evaluated based on the relationship between continuous improvement and risk management.

The Performance of Small Businesses in St. Petersburg: Data From a Questionnaire

2003 ◽  
Vol 30 (3) ◽  
pp. 301-322
Author(s):  
Alessandro Kihlgren
Keyword(s):  
Small Business ◽  
Small Firm ◽  
Small Businesses ◽  
Field Work ◽  
Domestic Market ◽  
Reliable Data ◽  
New Firms ◽  
Accurate Picture ◽  
The City

AbstractThe dearth of reliable data makes field work essential to gain a more accurate picture on small business in today's Russia.1 Interviewing representatives of organizations instead of individual entrepreneurs provides a more balanced picture, as entrepreneurs may be reluctant to divulge information about their firm. Although the firms these organizations work with are not fully representative of the small business population in St. Petersburg the results do not differ substantially from surveys previously conducted in the city. Therefore, these data can provide some useful insights on small business in St. Petersburg. Data collected suggest that new firms are mostly profitable and expanding production. The fact that half of the firms have as their main competitor another small firm testifies to the greater adaptability and flexibility of new firms compared with larger ones. The sales of these firms tend, however, to be concentrated in the domestic market with a negligible export component similarly to what was observed in surveys conducted in other parts of Russia. Keywords: small business, Russia, entrepreneurship, St. Petersburg

scholarly journals Impact of Social Media Applications on Small Business Entrepreneurs

2016 ◽  
Vol 02 ◽  
pp. 1 ◽  
Author(s):  
Malik Shahzad Shabbir ◽  
Muhammad Saarim Ghazi ◽  
Atta Rasool Mehmood ◽  
◽  
◽  
...  
Keyword(s):  
Social Media ◽  
Small Business ◽  
Literature Review ◽  
Small Businesses ◽  
Positive Impact ◽  
Business Owners ◽  
Small Business Owners ◽  
Social Media Platforms ◽  
Media Applications ◽  
The Impact

The main objective of this paper is to investigate the impact of social media applications on small business entrepreneurs. It also examines how small business owners are motivated to use social media applications. Social media has completely transformed the way businesses are done. Social media applications in the present time have become the most efficient and effective tool for small business entrepreneurs, and normally all small businesses use social media platforms for the advertising and publicity of their products and services. They make fan pages for their followers, and they warmly welcome their suggestions and opinions, which help in improving their businesses. However, based on literature review, we conclude that there is a positive impact of social media applications on small business entrepreneurs as well as they are highly motivated to use these platforms.

Helping Small Business cope during COVID-19: A brief survey of measures implemented across countries

2021 ◽  
Vol 12 (1) ◽  
pp. 33-33
Author(s):  
Jia Qi Cheong
Keyword(s):  
Small Business ◽  
Literature Review ◽  
Small Businesses ◽  
Limited Sample ◽  
Individual Country ◽  
Policy Makers ◽  
The Us ◽  
The Impact

This paper offers a brief review of current studies with regards to the impact of COVID-19 on small businesses across countries. This survey of experiences elsewhere might provide insights to policy makers in countries that are struggling to cope with the problem on the initiatives to consider and the additional initiatives that might be necessary to make them effective in their individual country contexts. Given limitations of space, we survey only a limited sample of countries from Asia and Europe, along the US and Canada. Hopefully, their experiences will provide a broad enough spectrum of initiatives for policy makers elsewhere to consider and evaluate. Keywords: Small Business, COVID-19, Impact, Literature Review

GLOBAL VALUE CHAINS AS A COMMON DENOMINATOR OF ENTREPRENEURSHIP IN THE “POST-PANDEMIC” WORLD.

2021 ◽  
Author(s):  
Ganira Ibrahimova
Keyword(s):  
Small Businesses ◽  
Global Value Chains ◽  
Global Scale ◽  
Value Chains ◽  
Common Denominator ◽  
Reproduction System ◽  
The World ◽  
National Economies ◽  
Global World ◽  
The Impact

There are already numerous opinions and forecasts about what the world economy will look like in the nearest future, in the wake of a post-pandemic period. The global world is facing now а social and economic crisis, never experienced before, the COVID-19 pandemic became a very significant trigger changing the way the world production was conducted in the previous era. In these conditions, large and small businesses are trying to cooperate with each other within the Global Value chains framework, to survive. As the main drivers of global production and financial systems, large corporations had to improve, but it is still difficult to say how long it will take. On the other side, after the pandemic recession, it is becoming more and more obvious that SME sector has increased its impact not only within the national economies, but also in a global scale. A huge amount of financial and institutional support is being provided to the SME sector by the governments, which eventually will lead to an improvement in the International Capital Reproduction System. However, there is still a gap in existing connections within the global value chains, which makes a big challenge for this integration process to be achieved. Although many aspects of globalization are now clearly understood, still there is scarce information on the transforming relations between large companies and their partners - smaller firms and the ways the formers integrate into the Global Value Chains. This study aims to define the evolution of the role of SMEs in the global value chains, identify and assess the factors that contribute to the integration of SMEs into global value chains and explore the impact of GVC onto their institutional framework.

Towards the Underlying Theories of Small Firm Growth: A Literature Review

2021 ◽  
pp. 231971452110496
Author(s):  
Nusrat Hafiz ◽  
Ahmad Shaharudin Abdul Latiff ◽  
Md Asadul Islam ◽  
Abu Naser Mohammad Saif ◽  
Sazali Abd Wahab
Keyword(s):  
Literature Review ◽  
Small Firm ◽  
Small Businesses ◽  
Small Firms ◽  
Firm Growth ◽  
Dynamic Capabilities ◽  
Empirical Studies ◽  
Theoretical Perspectives ◽  
Management Perspective ◽  
Small Business Growth

As a pre-condition for the economic growth of a country, the concept of firm growth has emerged as a critical strategic issue for small businesses from the strategic management perspective. While some literature reviews have been conducted on small firm growth, a comprehensive review of theories emphasizing the association of intangible resources with the growth of small firms has not been conducted. This study aims to provide a literature review of extant theoretical perspectives of small businesses literature. For the review, materials are collected and extracted from various online databases, and results are analysed using classifier variables. Five theories of firm growth, namely, the resource-based theory, knowledge-based theory, dynamic capabilities theory, upper echelon theory and resource-dependency theory, are selected to review, associating the present research aim. The theories are compared using key attributes and outcomes. A clear direction towards an optimum theory to underpin the small firms’ growth has been provided from a resource-management perspective. By validating various theoretical perspectives to explain small business growth, the present study provides first-hand insights for managers to formulate strategies and creates a cornerstone for future empirical studies.

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