scholarly journals DEVELOPMENT OF BUSINESS PLANNING IN THE FIELD OF FINANCIAL AND CREDIT SUPPORT FOR SMALL BUSINESS

2020 ◽  
pp. 140-148
Author(s):  
Sergiy Sergiychuk ◽  
Olena Ishchenko ◽  
Iryna Dubynska
Keyword(s):  
Small Business ◽  
Small Businesses ◽  
Financial Risk ◽  
Main Tool ◽  
Business Plan ◽  
Individual Investors ◽  
Business Planning ◽  
Money Markets ◽  
New Business ◽  
Theoretical Generalization

Introduction. Real difficulties with financing are today one of the main problems for small business in Ukraine. Lack of sufficient capital in the majority of the population, complexity, disadvantage or inability to obtain borrowed funds hinder the development of small business. Dependence on domestic sources of funding, the problem of lack of financial resources, difficult access to financial and money markets, high levels of financial risk, limited material resources and capacity, low output - all indicate that small business needs real financial support from the state, commercial banks, venture firms and individual investors. The purpose of the article is to study and identify ways to implement business planning in the field of financial and credit support for small businesses. Method (methodology). The general scientific methods, in particular theoretical generalization - for generalization of types of the initial capital and features of financing and business planning of the enterprise idea are applied in the researched; systematic economic analysis - to justify the types of financing and the required level of business planning, which must have a future entrepreneur. Results. The prepared business plan helps start-up entrepreneurs at every stage of starting and managing their business. It can be used as a roadmap for structuring, running and developing your own business. This is a way to think about the key elements of a new business. A business plan helps to obtain financing or attract new business partners. Investors want to be sure that they will return their investment. This is the main tool of an entrepreneur to convince people to work together and invest in the development of a promising company.

Contemporary Financial Risk Management Perceptions and Practices of Small-Sized Chinese Businesses

2018 ◽  
pp. 917-931
Author(s):  
Simon S. Gao ◽  
Serge Oreal ◽  
Jane Zhang
Keyword(s):  
Risk Management ◽  
Small Business ◽  
Small Businesses ◽  
Financial Risk ◽  
Business Owners ◽  
Financial Risk Management ◽  
Chinese Business ◽  
Insurance Cover ◽  
Interpretative Approach

This study investigated the current perceptions and practices of financial risk management at small businesses in China. The researchers took an interpretative approach, using interviews within a case study, to collect qualitative data from Chinese business owners. Despite the well-documented importance of financial risk management in light of the 2008 global financial crises, surprisingly, the data indicated that little progress has been made on implementing an effective financial risk management in many Chinese small businesses. Analysis indicated the core problems in the case study organization stemmed from a lack of expertise, along with insufficient operational resources, for applying risk management. Interestingly, the researchers also found that Chinese small business managers perceived financial risks differently from managers of large organizations in China. Specifically, small business owners preferred to utilize risk transfer and insurance cover to hedge against financial risk.

Small Business Commercial Loan Selection Decision: An Empirical Evaluation

1982 ◽  
Vol 6 (4) ◽  
pp. 41-49 ◽  
Author(s):  
Nathaniel Jones
Keyword(s):  
Decision Making ◽  
Small Business ◽  
Small Businesses ◽  
Commercial Banks ◽  
Empirical Evaluation ◽  
Decision Makers ◽  
Selection Decisions ◽  
New Business ◽  
Decision Making Processes ◽  
Selection Decision

For many years, bank decision-makers and academic researchers have recognized the significance of both commercial banks and small businesses to the overall economy of America. However, there appears to be little, if any, statistically valid empirical research dealing with the decision-making processes in commercial banks which commit funds to small businesses. This article deals specifically with the decision-making process of 30 commercial loan decision-makers as they are faced with commercial loan selection decisions concerning Small Business (SBA guaranteed) new business loans.

scholarly journals The Best of Both Worlds - How Māori Small Businesses Engage with Their Pākehā and Māori Values

2021 ◽  
Author(s):  
◽  
Philip Graham Best
Keyword(s):  
Small Business ◽  
Cultural Values ◽  
Traditional Knowledge ◽  
Business Model ◽  
Small Businesses ◽  
Middle Eastern ◽  
Business Owners ◽  
Business Culture ◽  
Small Business Owners ◽  
New Business

<p>Māori small business owners must work in two cultures; their own Māori culture and the Pākehā culture which frames much of the legal and commercial imperatives of their business. Some Māori business leaders have commented on the need to develop a new business model for Māori owned and operated businesses that allow Māori to bring their own cultural values to a business whilst operating in a Pākehā environment. This research sheds some light on what some of the ingredients of that business model may be. Respondents owning small businesses commercialising traditional knowledge were interviewed about the cultural values they used in their business. Interviews comprised a face to face oral interview providing qualitative information followed by a written questionnaire providing frequency of use for both Māori and Pākehā concepts. This research shows how Māori small business owners commercialising traditional knowledge have been able to take appropriate parts of both their Māori and Pākehā cultures to develop and operate a business that builds on the best of both worlds. Using the ambicultural approach (Chen and Miller, 2010, 2011) it has been possible to analyse the relationships between aspects of Māori and Pākehā business culture. Māori respondents told of how they felt about the financial aspects of their business compared to the cultural and social aspects which were all important elements of their business. Respondents described how they balanced their cultural and social objectives with the financial objectives which enabled the business to remain sustainable. Social and cultural outputs are often found in other non-western businesses and some features of these are discussed leading to the conclusion that Māori businesses are more similar to those in some Asian and Middle Eastern localities than to the western environment in which they operate. The ambicultural approach has already been used by Chen and Miller to describe the success of some Asian based businesses. Applying an ambicultural relational approach to Māori small business has made it possible to explain how Māori small business owners are able to intertwine their cultures to develop a new operating culture for their business which provides the cultural, environmental, financial and social outputs they are searching for.</p>

Contemporary Financial Risk Management Perceptions and Practices of Small-Sized Chinese Businesses

2014 ◽  
Vol 3 (2) ◽  
pp. 31-42
Author(s):  
Simon S. Gao ◽  
Serge Oreal ◽  
Jane Zhang
Keyword(s):  
Risk Management ◽  
Small Business ◽  
Small Businesses ◽  
Financial Risk ◽  
Business Owners ◽  
Financial Risk Management ◽  
Chinese Business ◽  
Insurance Cover ◽  
Interpretative Approach

This study investigated the current perceptions and practices of financial risk management at small businesses in China. The researchers took an interpretative approach, using interviews within a case study, to collect qualitative data from Chinese business owners. Despite the well-documented importance of financial risk management in light of the 2008 global financial crises, surprisingly, the data indicated that little progress has been made on implementing an effective financial risk management in many Chinese small businesses. Analysis indicated the core problems in the case study organization stemmed from a lack of expertise, along with insufficient operational resources, for applying risk management. Interestingly, the researchers also found that Chinese small business managers perceived financial risks differently from managers of large organizations in China. Specifically, small business owners preferred to utilize risk transfer and insurance cover to hedge against financial risk.

scholarly journals The Best of Both Worlds - How Māori Small Businesses Engage with Their Pākehā and Māori Values

2021 ◽  
Author(s):  
◽  
Philip Graham Best
Keyword(s):  
Small Business ◽  
Cultural Values ◽  
Traditional Knowledge ◽  
Business Model ◽  
Small Businesses ◽  
Middle Eastern ◽  
Business Owners ◽  
Business Culture ◽  
Small Business Owners ◽  
New Business

<p>Māori small business owners must work in two cultures; their own Māori culture and the Pākehā culture which frames much of the legal and commercial imperatives of their business. Some Māori business leaders have commented on the need to develop a new business model for Māori owned and operated businesses that allow Māori to bring their own cultural values to a business whilst operating in a Pākehā environment. This research sheds some light on what some of the ingredients of that business model may be. Respondents owning small businesses commercialising traditional knowledge were interviewed about the cultural values they used in their business. Interviews comprised a face to face oral interview providing qualitative information followed by a written questionnaire providing frequency of use for both Māori and Pākehā concepts. This research shows how Māori small business owners commercialising traditional knowledge have been able to take appropriate parts of both their Māori and Pākehā cultures to develop and operate a business that builds on the best of both worlds. Using the ambicultural approach (Chen and Miller, 2010, 2011) it has been possible to analyse the relationships between aspects of Māori and Pākehā business culture. Māori respondents told of how they felt about the financial aspects of their business compared to the cultural and social aspects which were all important elements of their business. Respondents described how they balanced their cultural and social objectives with the financial objectives which enabled the business to remain sustainable. Social and cultural outputs are often found in other non-western businesses and some features of these are discussed leading to the conclusion that Māori businesses are more similar to those in some Asian and Middle Eastern localities than to the western environment in which they operate. The ambicultural approach has already been used by Chen and Miller to describe the success of some Asian based businesses. Applying an ambicultural relational approach to Māori small business has made it possible to explain how Māori small business owners are able to intertwine their cultures to develop a new operating culture for their business which provides the cultural, environmental, financial and social outputs they are searching for.</p>

scholarly journals MARKETING SUBSTANTIATION, ORGANIZATIONAL AND ECONOMIC CHARACTERISTICS OF SMALL BUSINESS IN THE PROVISION OF HOTEL SERVICES

2021 ◽  
Vol 4 (39) ◽  
pp. 439-450
Author(s):  
S. Pambuk ◽  
I. Ustenko ◽  
M. Mardar
Keyword(s):  
Small Business ◽  
Strategic Management ◽  
Business Model ◽  
Financial Reporting ◽  
Small Businesses ◽  
Business Models ◽  
Methodological Approach ◽  
Business Plan ◽  
Local Market ◽  
Regional Market

Abstract. The article proposes a business model for the development of small business in the regional market of services in Ukraine on a generalized methodological approach; the main aspects and parameters of development of hotel services are revealed. The main purpose of the research is to develop a methodological approach to marketing substantiation, organizational and economic characteristics and management of a small business to provide hotel services on the example of a hostel. Systematization of literature sources and approaches to solving the problem of using strategic management for local small businesses indicates the need to develop a universal business model for the development of hospitality services, taking into account the characteristics of the regional market and other important factors. After all, thanks to a well-chosen for a specific time and a specific market environment, the business models of the company achieve a stable competitive advantage. The rapidity of market changes in the economy of Ukraine and the spread of entrepreneurship actualize the creation of effective algorithms and methods of approach to marketing justification and strategic management of small businesses. The object of research is the business model of future business in terms of implementing a business idea for the local market. The research was carried out using modern general scientific and special methods: business idea map, PEST-analysis, Osterwalder’s business model, determination of business value by cost, income and market approaches, sensitivity analysis to determine the degree of business risk. The information base of research consisted of statistical and organizational, financial reporting of small businesses for the provision of hotel services. As a result of the research, an algorithm for opening and analyzing the work of small businesses to provide hotel services on the example of a hostel was developed. The methodical approach consists of stages: development of a map of a commercial idea; analysis of a potential commercial idea and problems that can be solved in the case of implementation of this commercial idea; consolidated PEST analysis; description of the model of consumer service behavior of hotel services; analysis of project business competitors; drafting a practical philosophy of small business; drawing up a business model of a small project enterprise; resource substantiation; project risk assessment. The proposed methodological approach can be applied to develop a business plan for small business opening a hostel for the development of the regional market of services. Keywords: business plan, marketing plan, card of the business idea, degree of risk of business, hostel, outline of Osterwalder’s business model, PEST analysis. JEL Classification M31, М21, R15, R30 Formulas: 0; fig.: 1; tabl.: 6; bibl.: 23.

scholarly journals Management of small business entities

2020 ◽  
Vol 11 (8) ◽  
pp. 680
Author(s):  
Tetiana Portovaras ◽  
Zhanna Harbar ◽  
Ihor Sokurenko ◽  
Iuliia Samoilyk
Keyword(s):  
Small Business ◽  
Small Businesses ◽  
Negative Impact ◽  
Main Tool ◽  
The State ◽  
Small Business Development ◽  
Stage Of Development ◽  
Business Entities ◽  
Strategic Perspective

The purpose of the study is to identify the factors influencing the management of the activity of small businesses and to provide recommendations for its development through the resolution of crisis issues that prevent businesses from achieving strategic prospects and stable profits. The main factors for reducing the effectiveness of small businesses have been identified on the basis of the results of the questionnaire survey of one level of managers (small business directors), which should be taken into account in the formation of strategic management decisions and long-term development strategies. It is found that many of the factors are subject to managerial influence, which minimizes the negative impact on the performance of small business entities. The hypothesis that the main tool for stimulating small business development remains the state has confirmed with the help of research, but there is an urgent objective need to identify other factors that influence the activities of small businesses that impede their development and lead to closure. The study suggests that only a balance between the internal environment of small businesses and the regulatory framework of the state will allow them to work effectively in market conditions and provide the national economy with money. The authors present a position on the organization of a small business entity management system that reflects the links between processes and events in a market environment. The presented approach takes into account a number of elements of influence on a small business when forecasting its development in a strategic perspective. The results of the study showed that it is necessary to clearly identify the tasks at each stage of development of a small business entity, to form alternative models of its development by looking for ways to optimize activities and opportunities to avoid possible risks.

scholarly journals FEATURES OF DEVELOPING A BUSINESS PLAN FOR A SMALL BUSINESS

2020 ◽  
pp. 331-336
Author(s):  
В.В. Sasykulov ◽  
A.K. Kylychbekov
Keyword(s):  
Small Business ◽  
Business Plan ◽  
Small Enterprise ◽  
Business Planning

The article discusses the conditions and factors that affect the development of a business plan. The algorithm of the process of developing a business plan for a small enterprise is presented. The article considers the main prerequisites and tasks to be solved by business planning, as well as the specifics of justifying a business plan aimed at strengthening the competitiveness of the enterprise.

scholarly journals TRAINING FINANCIAL GOVERNANCE FOR SMALL BUSINESS GROUPS IN THE KARONDORAN VILLAGE AND EASTERN LANGOWAN DISTRICT

2018 ◽  
Vol 1 (1) ◽  
Author(s):  
Johny Manaroinsong ◽  
Mareyke Greety Velma Sumual ◽  
Lennij Henij Suoth
Keyword(s):  
Small Business ◽  
Financial Management ◽  
Small Businesses ◽  
Initial Conditions ◽  
Feasibility Studies ◽  
Business Plan ◽  
Financial Governance ◽  
Proper Training ◽  
Financial Management System ◽  
The Government

AbstractIn phenomenological that capital improvements micro and small businesses that are not necessarily able to manage venture capital, although the amount of lending by the government continue to grow. The most important factor faced by micro businesses related to the ability to create a business plan, do the bookkeeping and calculate profit and loss through the preparation of financial statements of small businesses. This ability can only be done if the micro and small entrepreneurs have obtained special assistance, such as training on the highly strategic with regard to financial governance. Framework for problem solving is done with the following process: 1) know the initial conditions of financial management; 2) A touch of science and technology through training in financial management systems. By using the proper training on ways financial management system that is efficient and effective, it is expected there will be changes in behavior; 3) The expected result, after the implementation of the training. This activity can be tested through the stages at least one month after the training. The results were obtained: 1) Model and small business bookkeeping cycle and simple calculations of profit and loss, are important materials which not only known, but should be understood in the transaction of business activities in order to be recorded correctly according to the actual situation; 2) training was very positive response because it is closely related to their daily activities, so it felt a primary requirement. 3) small businesses in the Karondoran village and Eastern Langowan District has managed to gain knowledge of the Model and the cycle of small business bookkeeping as well as feasibility studies (businness Plan) is simple. Therefore, training and habituation of micro and small entrepreneurs continuously followed by appropriate change-change business development, will be very much needed. Keywords: Model and the cycle of small business bookkeeping, business plan

scholarly journals DEVELOPMENT OF A BUSINESS PLAN IN THE FIELD OF SMALL ENTERPRISE: PROBLEMS AND FEATURES

2018 ◽  
Vol 64 ◽  
Author(s):  
O.Y. Slynko
Keyword(s):  
Small Business ◽  
Business Education ◽  
Planning Process ◽  
Business Plan ◽  
Small Enterprise ◽  
Business Planning

The article considers the necessity and peculiarities of business plan development in the sphere of small business. It analyzes the problems faced by entrepreneurs in the business planning process. The author summarizes the main mistakes that occur in the course of business plan developing. Much attention is given to the necessity of business education for entrepreneurs in the region. In addition, the attempt is made to determine the directions of assistance provision to beginner entrepreneurs in the process of independent business plan developing.

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