Need of Financial Sustainability in the Service Sector Msmes of India

The United Nations is taking an active part in the promotion and implementation of a sustainable approach in our surrounding environment, with the help of its 17 sustainable development goals (S.D. Gs). This paper touches upon the 8th and 9 th Goals which propose Decent work, Economic growth, Industry, Innovation and sustainable Infrastructure. Researchers propose that these goals are very crucial in the development of our economy. The industrial sector of the country is the backbone of its economy and in India the Micro, Small and Medium Enterprises (M.S.M. Es) are the soul of its exponential growth. Keeping in mind the Importance of the M.S.M. Es and their growing potential, the government has taken various initiatives in the form of schemes and policies, to promote and sustain these small businesses. Service sector contributes to more than 54.40% to Gross added value (G.V.A.) whereas the manufacturing sector contributes significantly less than the services sector. Despite of this fact researchers have found out that the Government is more inclined towards M.S.M.E’s in manufacturing sector and have opened a greater number of schemes and opportunities for them than the M.S.M.E’s in the service sector. Today, 54.6 billion total M.S.M. Es are registered in India, 33% are of the service sector. Review and comparison of the statistics and contributions of the M.S.M. Es in both these sectors presents a clear picture regarding the extensive contribution of the service M.S.M. Es and hence has outlined the need of differentiation. The research presents a factual analysis, of the need of more action plans especially the ones aiming at making the service M.S.M. Es financially strong and sustainable. They have a great potential of expansion, growth and can help create many new employment opportunities. Therefore, this paper is an attempt to highlight their contributions and emphasize how making these thriving M.S.M. Es, stand on their own feet is the need of the hour. Researchers believe that government schemes and action plans are one of the best and efficient mediums to achieve the SDGs and contribute towards sustainable development.

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TPP, trade-off and eco-system establishment in Taiwan

Bandung Journal of the Global South ◽

10.1186/s40728-017-0041-x ◽

2017 ◽

Vol 4 (1) ◽

pp. 1-16

Author(s):

Jiann-Chyuan Wang ◽

Joe-San Lee ◽

Yu-Chun Ma

Keyword(s):

Service Sector ◽

Agricultural Sector ◽

Small And Medium Enterprises ◽

Manufacturing Sector ◽

Trade Agreement ◽

Trade Expansion ◽

Governmental Organizations ◽

The Government ◽

High Standards ◽

Medium Enterprises

The Trans-Pacific Partnership (TPP) is a free trade agreement with high standards, affecting multiple industries, and imposing tremendous economic impacts. The TPP accounts for 36% of world GDP and its significance and impacts are profound, specifically affecting tariff reduction in the manufacturing sector, market entry in the service sector, and rules of origin requirements, as well as currency valuation, intellectual property rights, and even immigration. This means that Taiwan cannot view the TPP lightly. Taiwan’s economy is export-focused, so not being able to partake in regional economic integration will exert an unfavorable impact on Taiwan’s trade expansion and investment attractiveness. Taiwan’s government should therefore actively seek to engage in the second round of TPP discussions. Although President Trump has announced that the US will be withdrawing from the TPP, Japan is seeking further consolidation so that the remaining TPP member countries can continue to make progress. Taiwan cannot exert much control over international opposition to Taiwan’s membership of the TPP on the part of other countries, so this paper focuses mostly on the challenge of overcoming domestic opposition. A review of the literature reveals that the benefits of joining the TPP outweigh the harm; however, despite continuous efforts to promote the TPP and the reaching of consensus within governmental organizations, there has still been a considerable backlash against the idea of TPP membership from many groups in society. This is because TPP membership would directly disadvantage thousands of domestic-orientated businesses, small and medium enterprises (SMEs), and the younger generation. This means that TPP promotion needs to be more considerate of the interests of all related parties and be undertaken in an ‘eco-system’-like manner, focusing on helping traditional industries, SMEs, the agricultural sector, and young people. In addition, the government should work on strengthening the skills of existing workers, and work to develop a system that keeps capital and skilled labor within the country. Foreign investment should ideally help to stimulate domestic economic growth, create more employment opportunities, and drive wages up. If these benefits can be emphasized, then the promotion of the TPP or other FTAs is likely to encounter less resistance and receive more support from Taiwan’s citizens.

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Policy Implementation To Arrange The Street Vendors By The Government of Denpasar City, Bali Province

Iapa Proceedings Conference ◽

10.30589/proceedings.2018.190 ◽

2019 ◽

pp. 166

Author(s):

Anak Agung Gede Oka Wisnumurti ◽

Ni Nyoman Reni Suasih

Keyword(s):

Policy Implementation ◽

Low Income ◽

Small Businesses ◽

Urban Areas ◽

Sampling Technique ◽

Decent Work ◽

Street Vendors ◽

Qualitative Descriptive ◽

Local Law ◽

The Government

Street vendors are informal types of work (small businesses) that arise primarily in urban areas, carried out by low-income people (daily salaries), have limited capital, and consist of only one worker (self employed). The presence of street vendors in various major cities in Indonesia, including in Denpasar City, has become a dilemma that creates pro-contra, and has the potential to clash between citizens and officials of government. This is because street vendors sell their wares in public places that are considered strategic, thus disrupting public order, and other public peace. On the other hand, according to one of the SDG’s programs, the government has an obligation to realize decent work for everyone. In the effort of structuring street vendors, as well as helping small traders of economic actors in the informal sector, the government of Denpasar City issues Denpasar City Local Law No. 2 of the year 2015 about Street Vendors. Therefore, an analysis is needed to find out the implementation of Denpasar City Local Law No. 2 of the year 2015, as well as to find out the supporting factors and inhibiting factors of its implementation. This research is a qualitative descriptive study, where the data obtained through the process of observation, interviews, and documentation studies. Selection of informants through purposive sampling technique, and data analysis techniques using Merilee S. Grindle's theory of policy implementation and contingency theory by James Lester. The results of the analysis show that the implementation of Denpasar City Local Law No. 2 of the year 2015 for arranging street vendors is still faced with several obstacles such as: lack of location according to allotment, lack of adequate budget, evaluation that is rarely done, and sanctions that are not in accordance with what is written in the Regional Regulation and the lack of understanding of street vendors on the local law. An interesting finding is that it turns out that governemtn of villages and custom village have an important role in organizing street vendors in their areas.

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Menemukan Strategi Pengembangan Kawasan Industri Melalui Analisis Sektor Unggulan Kota Binjai

Jurnal Wilayah dan Lingkungan ◽

10.14710/jwl.4.1.45-64 ◽

2016 ◽

Vol 4 (1) ◽

pp. 45

Author(s):

Dessy Eresina Pinem

Keyword(s):

Service Sector ◽

Building Materials ◽

Optimal Growth ◽

Industrial Area ◽

Industrial Sector ◽

Local Potential ◽

High Tech ◽

Multiplier Effects ◽

The Government ◽

The Right

<pre>The industrial sector is a primary sector has the potential to create a progressive growth in a region. The growth in the region rely on the industrial sector was driven by sales of production, employment, and other multiplier effects so that many of districts or cities in North Sumatra try to develop this sector. The industry that can be developed is an appropriate industrial potential and local resource to be optimal growth in the region. In RTRW Kota Binjai years 2011 - 2030, District of North Binjai designated as an industrial area. Industries that are planned to be developed are a high-tech industry. But the problem is whether the type specified in the RTRW industry is the industry that corresponds to the potential of local resources and the District of North Binjai? The purpose of this paper is to find the right industry to be developed by local potential or excellence, especially in the District Binjai Utara Binjai. The analytical tool used is the analysis of LQ, shift share and SWOT discovered the potential and advantages that can be seen Binjai compliance with industry directed by RTRW. The analysis results show that the industrial sector is not a primary sector or potential sector in Binjai. The results of LQ and shift share analysis show that the sector with the potential to be developed in Binjai was the construction sector, finance, and services. The similarity with the RTRW policy is only in the service sector. This shows that the service sector can be developed while the computer industry, multimedia, publishing, and printing) is not in accordance with the local potential. However, if the government still wants to develop the industrial sector in North Binjai, there should be diversification strategies, namely building-related industry sectors, such as industry superior building materials and mining industries.</pre>

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The Causal Effect of Access to Finance on Productivity of Small and Medium Enterprises in Vietnam

Sustainability ◽

10.3390/su11195451 ◽

2019 ◽

Vol 11 (19) ◽

pp. 5451 ◽

Cited By ~ 4

Author(s):

Mai Huong Giang ◽

Bui Huy Trung ◽

Yuichiro Yoshida ◽

Tran Dang Xuan ◽

Mai Thanh Que

Keyword(s):

Financial Services ◽

Small And Medium Enterprises ◽

Manufacturing Sector ◽

Causal Effect ◽

Bank Loan ◽

Firm Productivity ◽

Function Estimation ◽

Access To Finance ◽

The Government ◽

Medium Enterprises

In many developing countries, obtaining financial services at affordable rates and fair terms has been a significant challenge for small and medium enterprises (SMEs). However, this issue has not been paid much attention in Vietnam, even though SMEs account for about 95% of total enterprises and the financial market of the country has not been well developed. This study investigates the causal effects of access to finance on productivity of SMEs operating in the manufacturing sector in Vietnam. Productivity was measured as the total factor productivity (TFP) obtained by production function estimation using the Levinsohn and Petrin approach. Regarding financial accessibility, two factors covered the extent to which firms might have a bank loan or overdraft facility were employed. To study the causal inferences of access to finance on firm productivity, the research adopted the difference-in-differences (DID) approach, as well as the propensity score matching (PSM) coupled with DID technique. The empirical results indicated that improving the financial accessibility could directly enhance firm productivity. Particularly, it was shown that firms having access to a bank loan could significantly improve TFP by approximately 8.6% in the DID model and about 9% in the PSM-DID model. Meanwhile, the firm average TFP increased by approximately 12.3% and 15.7% in simple DID and PSM-DID models, respectively, when firms had an overdraft facility. These findings suggest that the government should put more effort into assisting SMEs in generating bankable projects, and create a sound and healthy financial environment to stimulate firms’ access to finance, which will ensure their sustainability and growth.

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Performance and Determinants of Indiaâ€™s GDP Since 1950: A Quantitative Analysis

Journal of Global Economy ◽

10.1956/jge.v4i2.121 ◽

2008 ◽

Vol 4 (2) ◽

pp. 106-131

Author(s):

Alok Kumar Pandey ◽

Annapurna Dixit

Keyword(s):

Structural Adjustment ◽

Service Sector ◽

Agricultural Sector ◽

Manufacturing Sector ◽

Indian Economy ◽

Export Sector ◽

Policy Measures ◽

The Government ◽

Structural Adjustment Programmes ◽

Sector Service

he planned economic development during the 40 years period (1950-91) has showed a mixed scenario. For example per annum growth in GDP during first fifteen years 1950-65 was found at 4 percent while during the period 1967-80 it declined marginally and stood at merely 3.45 percent per annum. However the decade of eighties which witnessed improvement in Agricultural sector, Mining & Manufacturing sector, Service sector and Export sector has resulted in 5.46 per cent per annum growth in the GDP. In this connection it is significant to observe that the overall growth in GDP during the period 1950 to 1991 was not very impressive due to constant pulls and pressures. In the early 1991, Indian economy faced several economic crises, like fiscal imbalances, mounting inflationary pressures and severe balance of payment crisis etc. The congress government, which assumed office at the end of June 1991, responded quickly to these problems. As a rescue measure, a series of new policy measures were announced in July 1991 by the government of India. These are also known as Structural Adjustment Programmes (SAPs) of 1991.The major thrust of present paper is to evaluate the performance (for the period 1950 to 2006) as well as determinants (for the period 1975 to 2006) of Gross Domestic Product (GDP) of Indian economy.

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Labour Force, National Savings and the Manufacturing Sector Productivity in Nigeria

Izvestiya Journal of the University of Economics – Varna ◽

10.36997/ijuev2020.64.4.459 ◽

2020 ◽

Vol 64 (4) ◽

pp. 459-473

Author(s):

Adeyemi Babasanya ◽

◽

Olukayode Maku ◽

Joseph Amaefule ◽

◽

...

Keyword(s):

Exchange Rate ◽

Raw Materials ◽

Manufacturing Sector ◽

Labour Force ◽

Industrial Sector ◽

National Bureau ◽

Growth And Survival ◽

Long Run ◽

Negative Effect ◽

The Government

The study evaluated the role of sectoral labour force and the national savings on the manufacturing sector output in Nigeria from 1985 to 2019, a period of 35years. Data was sourced from Central Bank Of Nigeria (CBN) statistical bulletin various issues up until 2017, National Bureau of Statistics (NBS), and World Development Index (WDI). Data were analyzed using Vector Error Correction Model (VECM). The VECM result revealed that national savings and labour force have long run positive effect on the manufacturing sector output, while exchange rate and inflation have long-run negative effect on the manufacturing sector output. It could be deduced from this study that national savings, labour force in the industrial sector, inflation and exchange rate are very critical factors that determine the growth and survival of the manufacturing sector. Hence, it was recommended that the government look critically to the manufacturing sector and revamp the sector by making credit facility to the sector, and increase the use of domestic raw materials.

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Prospects for the aerospace industry in the Sudan

World Journal of Science Technology and Sustainable Development ◽

10.1108/wjstsd-02-2016-0025 ◽

2016 ◽

Vol 13 (3) ◽

pp. 234-248

Author(s):

Adil Ahmed Dafa’Alla

Keyword(s):

Sustainable Development ◽

United Nations ◽

Industrial Development ◽

Regional Economy ◽

Manufacturing Sector ◽

Aerospace Industry ◽

Industrial Sector ◽

Shared Responsibility ◽

Important Ingredient ◽

Content Type

Purpose – The purpose of this paper is to investigate the contribution of the Sudanese manufacturing sector to the Sudanese economy and assess the role that aerospace industry, in particular, can play as a driver for achieving sustainable development in the Sudan. Design/methodology/approach – This paper reviewed and analysed the contribution of the industrial sector to the Sudanese economy based on the comprehensive industrial survey carried out with the assistance of United Nations Industrial Development Organisation and United Nations Development Programme in 2001. It then went on to assess the role that aerospace industry can play in improving the contribution of this sector to the Sudanese and regional economy and achieving sustainable development. Evidence from global industrial views, international economic reports and experience of other countries in similar situation as the Sudan was used to support arguments. Findings – The Sudanese economy is agriculturally based. A heavy injection of industrialisation of the economy is essential in order to improve the trade balance and help the country out of the poverty zone. The aerospace industry is an important ingredient of the required dose as the global and regional demand is high and the flourishing regional economy is encouraging. The paper argues that building a flourishing aerospace industry as an important element of sustainable development plan for the Sudan is a shared responsibility of good government, quality education and well-guided investment. Practical implications – The paper is proposing a practical way to transform the character of the Sudanese economy and help it to set on a sustainable development path that will alleviate poverty and improve the standard of living of its citizens. Originality/value – The paper gives critical assessment of the role of the industrial sector in driving the Sudanese economy, which is seriously lacking in the literature. Additionally, the paper introduces building a flourishing aerospace industry in the Sudan as an important ingredient to boost the manufacturing sector, hence, improve the economy, fight poverty and a step towards achieving sustainable development.

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Impact of Foreign Direct Investment on Industrial Growth of India

International Journal of Recent Technology and Engineering - 2 ◽

10.35940/ijrte.b1027.0982s1019 ◽

2019 ◽

Vol 8 (2S10) ◽

pp. 165-169

Keyword(s):

Foreign Direct Investment ◽

Direct Investment ◽

Manufacturing Sector ◽

Industrial Sector ◽

Industrial Growth ◽

Coefficient Corrélation ◽

The Government ◽

The One ◽

The Impact ◽

The Relationship

In India the Foreign direct investment (FDI) has received a staged improvement from instigate of the Make in India scheme, according to recent survey. There was a incredible increase in FDI inflows (40%) particularly in manufacturing sector from October, 2014 to June, 2019 . The industrial sector is considered to be the one of the dominant sectors that contribute the major Indian GDP. India has been ranked fourteenth in the factory output in the world. This was because of the launch of initiative, which sought for promoting manufacturing segments and be a magnet for foreign investments. More than 56 manufacturing units are benefitted in the entire globe. In the recent times during the year 2014 to 2019 the Industrial production inclined to 3.1 per cent, mainly on account of improvement and to encourage talent augmentation towards the various sectors of the economy. This article brings out the recent efforts taken by the government for encouraging the FDI into various sectors and how it has made a pathway. In the last ten years India has shown a tremendous increase in Foreign Direct Investment into the various sectors in economy. Even though Government of India has make a pathway for attracting FDI on various sectors, this papers focuses on explaining the impact of make in India scheme on FDI. In this paper period of five years has been considered for the analysis. The Statistical Tools like Karl Pearson's Coefficient Correlation and One - Way ANOVA has been used for the analysis of data. To study the relationship between the FDI and IIP correlation is used for the analysis of data

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THE IMPACT ASSESMENT OF THE MICRO FINANCE TO FINANCIAL INCLUSION AND BISUNESS GROWTH: A STUDY OF THE MICRO, SMALL AND MEDIUM ENTERPRISES IN IGEMBE SOUTH (KENYA)

American Journal of Finance ◽

10.47672/ajf.323 ◽

2018 ◽

Vol 3 (1) ◽

pp. 1

Author(s):

Martin Guantai Kanake ◽

Dr. R. Mahesh

Keyword(s):

Small Businesses ◽

Default Risk ◽

Small And Medium Enterprises ◽

Distribution Channel ◽

Financial Inclusion ◽

Microfinance Institutions ◽

Development Fund ◽

The Government ◽

Medium Enterprises ◽

The Impact

Purpose: The purpose of this study was to assess the impact of microfinance on financial inclusion and business growth in Igembe South District Kenya.Methodology: Descriptive research was used in discovering the research objectives. The research targeted the micro, small and medium sized businesses operating in Maua town (Igembe south District), 2181 of which were registered and licensed. A sample of 280 businesses (12.84% of the population) participated in the study.Results: This study revealed that microfinance institutions played a major role in improving financial inclusion among the small business owners who previous research has shown that they have been traditionally excluded from the formal banking systems. 78% of the respondents had access to the micro finance services while 60% had active microcredit in the preceding 12 months. It was clear that the microfinance institutions were cultivating the culture of saving among the micro entrepreneurs. However, most of the new businesses specifically those less than one year of age minimally benefitted from the micro finance services. It was also noted that default risk among the small businesses remains to be a challenge that micro credit lenders have to overcome for continued services provision. Working capital requirement was the leading reason for borrowing from micro finance institutions by the businesses.Unique contribution to theory, practice and policy: The study found that there was a good complementation between the existing micro finance institutions and the public entrepreneurial programs initiated by the government of Kenya such as Youth Entrepreneurs Development Fund, Women Enterprise Fund, Uwezo Fund and other County governments initiatives. The study recommended that the microfinance institutions should also be included in the distribution channel of these public funds for stronger linkage with the target groups. The MFIs should also utilize Credit Reference Bureau services to reduce the problem of default.

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State-Owned Enterprise Partnership Program as a Form of Corporate Social Responsibility to Small and Medium Enterprises

Randwick International of Social Science Journal ◽

10.47175/rissj.v2i4.334 ◽

2021 ◽

Vol 2 (4) ◽

pp. 535-545

Author(s):

Muhammad Yusrizal

Keyword(s):

Corporate Social Responsibility ◽

Social Responsibility ◽

Small Businesses ◽

Small And Medium Enterprises ◽

Active Role ◽

Net Benefit ◽

For Profit ◽

The Government ◽

Medium Enterprises ◽

Corporate Social

State-Owned Enterprises (SOEs) have a very important role in the implementation of the national economy in order to realize the welfare of the people. SOEs are seen as having a strategic role in fostering and developing private and cooperative businesses. The government through its regulations has mandated SOEs to participate in assisting the government in implementing the development policies that have been outlined, this is as mandated in Article 88 of Law no. 19 Year 2003 on SOEs, which in the article instructs SOEs to set aside a parcel of their net benefit for the reason of cultivating little businesses and cooperatives as well as cultivating the community around the company. The existence of the provisions of Article 88 means that SOEs are not only looking for profit, but also must play an active role in developing and fostering small businesses and cooperatives, so SOEs will have the responsibility Corporate social responsibility that can be sued is the same as other private companies in Indonesia.

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