Emerging Opportunities for Blockchain Use by Small and Medium Enterprises (SMEs) in Developing Economies

Blockchain Technology ◽

The blockchain digital technology holds immense possibilities for the growth and development of developing economies such as Ghana. Since the emergence of blockchain technology, many developing economies have as yet to tap into its limitless possibilities with Ghana being no exception. In this chapter, the authors explore the possibilities for the blockchain for SMEs in developing economies like Ghana with a view to identifying the properties of a blockchain ecosystem that will facilitate their development, adoption, and use by SMEs.

MSMEs as Engine of Economic Growth in Nigeria: Challenges and Prospects of Scalability

Australian Finance & Banking Review ◽

10.46281/afbr.v2i1.75 ◽

2018 ◽

Vol 2 (1) ◽

pp. 1-10

Author(s):

Emmanuel Okokondem Okon

Keyword(s):

Economic Growth ◽

Growth And Development ◽

Developing Economies ◽

Business Environment ◽

Technological Systems ◽

Economic Growth And Development ◽

Area Of Concern ◽

Medium Enterprises ◽

A Company

Growing or expanding the Micro, Small and Medium Enterprises (MSMEs) sector of the economy is one key strategy to achieve economic growth and development. Micro, Small and Medium Enterprises (MSMEs) scalability (growth or expansion) have become an area of concern for economic growth in developing economies. People use the term in reference to computer or other technological systems, but those in business also use the word to describe the adaptability of a company (Thibodeaux, 2015) in today‘s fast-paced business environment where the focus on customer satisfaction is at an all-time high. This article discusses the concept of scalability as it relates to business and non-scalable components of business process as well as the importance of being scalable. It also looked at some of the challenges and practices that prevent effective scalability of MSMEs in Nigeria and the way forward.

NEED FOR GROWTH AND DEVELOPMENT OF SMALL AND MEDIUM ENTERPRISES TOWARDS PRODUCTIVITY AND SELF RELIANCE IN THE NIGERIAN ECONOMY

EPRA International Journal of Research & Development (IJRD) ◽

10.36713/epra9119 ◽

2021 ◽

pp. 104-111

Author(s):

Dr. Adebowale I. O

Keyword(s):

Growth And Development ◽

Developing Economies ◽

Economic Empowerment ◽

Developing Economy ◽

Present Level ◽

Tertiary Institutions ◽

Security Challenges ◽

To Come ◽

The present level of unemployment in the nation is worrisome, to say the least. Graduates of tertiary institutions are roaming the streets in search of never - to- come jobs. There can be no real economic empowerment in any developing economy until certain fundamental issues have been put right. The growth and development of Small and Medium Enterprises (SME’S) present a way out of this doldrums. Aggressive efforts are needed to bring about the sustenance and survival of these SME'S paramount of which is a peaceful environment. This paper highlighted the significance of SME subsector in developing economies, challenges and prospects of SMEs in Nigeria as a developing economy in order to enhance economic empowerment by sustaining the growth and development of SME'S with a view to reducing unemployment and decisively address security challenges that has been a source of serious concern to potential foreign and indigenous investors alike, thereby setting in motion an unprecedented growth and development in this all-important sub-sector. KEYWORD: Unemployment, SME’s, Productivity, Entrepreneurial.

What Prompts Small and Medium Enterprises to Implement CSR? A Qualitative Insight from an Emerging Economy

Sustainability ◽

10.3390/su13020952 ◽

2021 ◽

Vol 13 (2) ◽

pp. 952 ◽

Cited By ~ 3

Author(s):

Zengming Zou ◽

Yu Liu ◽

Naveed Ahmad ◽

Muhammad Safdar Sial ◽

Alina Badulescu ◽

...

Keyword(s):

Emerging Economies ◽

Developing Economies ◽

Customer Behavior ◽

Policy Makers ◽

Management Commitment ◽

Top Management Commitment ◽

Medium Enterprises ◽

Corporate Social ◽

Depth Interviews

The topic of corporate social responsibility (henceforth referred to as CSR) has been a central topic during the last decade, but the majority of the existing literature discusses CSR relationship with large organizations. Whereas, its contribution in small and medium enterprises (henceforth referred to as SME) sector has received little attention. There have been some studies that focused on CSR activities in SME sector quantitatively in the context of developing economies like Pakistan, but the fact is, to date, SME sector of Pakistan is not participating actively in CSR-related activities due to some constraints. The present study is a pioneer attempt, to explore CSR barriers that restrict SME sector of Pakistan from practicing CSR initiatives. For this reason, the present study explores these barriers qualitatively in order to gain in-depth knowledge of different CSR barriers. In doing so, we conducted semi-structured in-depth interviews from 9 SMEs in Lahore city of Pakistan. We performed thematic analysis, which produced five relevant themes of CSR barriers, including: Lack of resources, lack of regulations, lack of top management commitment, lack of CSR knowledge, and passive customer behavior. Our analysis further showed that lack of resources is the most related barrier that hinder SMEs to be engaged in CSR activities. This paper contributes to CSR literature in emerging economies’ context. Through an increased awareness of barriers, policy makers and practitioners may take necessary steps to improve CSR practices in SMEs.

Зборник радова Економског факултета у Источном Сарајеву ◽

THE ANALYSIS OF FINANCIAL AND NON-FINANCIAL SUPPORT TO THE SECTOR OF SMALL AND MEDIUM ENTERPRISES IN THE REPUBLIC OF SRPSKA

10.7251/zrefis1510089s ◽

2015 ◽

Vol 1 (10) ◽

pp. 89

Author(s):

Boban Sašić

Keyword(s):

Financial Support ◽

Growth And Development ◽

Quantitative Research ◽

Research Problem ◽

Business Activity ◽

Financial Instruments ◽

Business Climate ◽

The Republic ◽

The aim of this paper is to analize the role and importance of financial and non-financial instruments of supporting the sector of small and medium enterprises (SMEs) in the Republic of Srpska (RS). For that purpose, in late 2013 and early 2014, there was conducted a quantitative research on a sample of 110 respondents on the whole territory of RS, with the aim of finding the answers to the following question: What is the reason that a large number of SMEs in RS fail to provide adequate financial and non-financial support to their business activity and what measures should be taken in order to improve the current situation? In order to specify the research problem, we ask ourselves if the existing instruments of financial and non-financial support to the sector of SMEs in the RS are sufficiently developed and accessible, as to contribute to the successful growth and development of the said enterprises? We found that the above mentioned instruments of support to the SME sector in RS are not sufficiently developed. Respondents were acquainted with the sole instruments and models of financial and non-financial support that exist in RS. According to the results of the empirical research, we conclude that creating and mastering the models and instruments of financial and non-financial support to SME sector in the RS and providing the adequate business climate for their successful functioning, will increase the availability of favourable financial means for SMEs, as well as the possibility of using the positive aspects of clusters, guarantee funds, factorings and other forms of entrepreneurship infrastructure.

Demystifying small and medium enterprises’ (SMEs) performance in emerging and developing economies

Borsa Istanbul Review ◽

10.1016/j.bir.2018.04.003 ◽

2018 ◽

Vol 18 (4) ◽

pp. 269-281 ◽

Cited By ~ 12

Author(s):

Ndeye Ndiaye ◽

Lutfi Abdul Razak ◽

Ruslan Nagayev ◽

Adam Ng

Keyword(s):

Developing Economies ◽

PELATIHAN DIGITAL BUSINESS BAGI CALON ENTREPRENEUR MUDA KOTA LHOKSEUMAWE DI MASA COVID-19

Jurnal Pengabdian Masyarakat Nusantara (JPMN) ◽

10.35870/jpmn.v1i1.274 ◽

2021 ◽

Vol 1 (1) ◽

pp. 36

Author(s):

Falahuddin Falahuddin ◽

Fuadi Fuadi ◽

Munandar Munandar ◽

Devi Andriyani ◽

Arliansyah Arliansyah

Keyword(s):

Digital Technology ◽

Positive Impact ◽

Economic Potential ◽

Business Rules ◽

Business Plans ◽

Doing Business ◽

Points Of View ◽

Medium Enterprises ◽

Young Entrepreneurs

This service will provide an overview of entrepreneurship of small and medium enterprises using digital technology. From all points of view, be it motivation, business opportunities or ideas, as well as business rules according to sharia. During the current Covid-19 pandemic, it is very demanding for young people who already have business plans to adopt digital business tools more quickly to survive and develop in the new normal era. Therefore, prospective young entrepreneurs have great potential to be prepared to become excellent entrepreneurs, who will not only be economically independent, but will also develop regional economic potential which in turn will have a positive impact on the national economy. The purpose of this service is to overcome the problem of unemployment by the younger generation. The solutions we provide are in the form of training and providing motivation to develop and provide basic techniques for doing digital business, and do not forget to provide understanding to aspiring young entrepreneurs about doing business in an Islamic way as a form of development of the nation's.

A systematic literature review of open innovation in small and medium enterprises in the past decade

foresight ◽

10.1108/fs-01-2021-0030 ◽

2021 ◽

Vol ahead-of-print (ahead-of-print) ◽

Author(s):

Huma Sikandar ◽

Umar Haiyat Abdul Kohar

Keyword(s):

Literature Review ◽

Open Innovation ◽

Resource Constraints ◽

Developing Economies ◽

Content Type ◽

The Past ◽

Prisma Statement ◽

Major Factors ◽

Purpose There is a growing trend of open innovation (OI) in small and middle enterprises (SMEs) these days, yet the implementation of OI in SMEs is a challenge because of their financial and resource constraints. This study aims to identify and analyze the past trends, barriers and outcomes and major factors influencing the implementation of OI in SMEs. Design/methodology/approach This review is based on 40 published articles from the Scopus database. It selects highly cited papers published from 2010 to 2019. The PRISMA statement template is used to explain the overall process of selection and rejections of the relevant articles. Findings The study contributes in two ways. First, through a comprehensive literature review, the authors highlight the overall development of the concept of OI in the literature over the past 10 years and highlight the findings of the significant studies. Second, the authors provide detailed representations of the OI literature by calculating yearly publications and identifying the SMEs which mostly implement OI practices, journals that publish a relevant article, OI-related publications in different disciplines and geographical locations in which most of the OI studies have been conducted. The study also reveals the most cited articles, journals and authors. Originality/value The authors conclude this paper with the argument that although much research has been done in the OI field, still there is a need to establish tools, models and methods that could facilitate SMEs in OI, especially for developing economies.

Internationalization of SMEs and market orientation

European Business Review ◽

10.1108/ebr-06-2018-0112 ◽

2019 ◽

Vol 32 (1) ◽

pp. 69-85 ◽

Cited By ~ 2

Author(s):

Soniya Billore ◽

Gautam Billore

Keyword(s):

Market Orientation ◽

Developing Economies ◽

Cultural Knowledge ◽

Target Market ◽

Indian Market ◽

Customer Knowledge ◽

Content Type ◽

Strategic Fit ◽

Purpose This paper aims to study the context of market orientation and the contribution of customer knowledge, networking and cultural knowledge to market orientation particularly to the internationalization of firms in developing economies. Design/methodology/approach A multiple case approach is adopted with four Swedish firms internationalizing to the Indian market. The data was obtained through personal interviews and typically lasted an hour. Follow-up questions were obtained by personal meetings or on Skype. Data was collected over a period of seven months during 2016-2017. Findings This study highlights the importance of customer knowledge, networking and cultural knowledge for foreign small and medium enterprises (SMEs) in the initial stages of internationalization. It proposes that a holistic market sensing of the target market can be achieved as the three constructs contribute to the market orientation of the firms and help in devising relevant strategic fit with the market. Research limitations/implications The sample size is small due to a limited number of Swedish SMEs who have the experience of operating in the Indian market. Future studies may include the Nordic region, and a quantitative approach for testing market orientation frameworks can be adopted. Originality/value This study lifts the concept of market sensing as customer knowledge, networking and cultural knowledge strengthen the market orientation of the firm. It addresses the research gap about limited research in developing market contexts for SME internationalization and specifically on Swedish SMEs in the Indian market.

Tugas PE (Stanley Ronaldi Tandio/130317110/C)

10.31227/osf.io/t9w83 ◽

2019 ◽

Author(s):

Stanley Ronaldi Tandio

Keyword(s):

Digital Technology ◽

Online Shopping ◽

Total Population ◽

The Other ◽

Primary Data ◽

Internet Users ◽

The One ◽

Medium Enterprises ◽

Average Expenditure

The current number of internet users in Indonesia has exceeded50% of the total population, with an average expenditure ofIDR 6.5 million per annum for online shopping. The value ofe-commerce has reached US$ 87.8 or 52% of the e-commercemarket in Southeast Asia. On the one hand, the development ofdigital lifestyle and digital technology-based industries has becomea necessity, but on the other hand, it will become “a serious threat”for traditional and conventional businesses as a result of changesin consumer shopping characteristics, that is, fast, practical, andinexpensive. Millennial generation is very familiar with digitaltechnology and becomes potential target to increase market share.This research is categorized as qualitative research with positiveparadigm. This research uses primary data and secondary datawith the focus on Micro Small and Medium Enterprises (MSMEs)and the behavior of consumers as internet (smartphone) users. Theresults show that there are still some problems with regulation,collaboration, and infrastructure that need to be addressed so asnot to hamper the growth of the digital economy and the stabilityof the financial system in Indonesia.

Reynaldy Ama 130218268 B UAS PI

10.31219/osf.io/ds8mz ◽

2021 ◽

Author(s):

reynaldy ama

Keyword(s):

Digital Technology ◽

Public Expenditure ◽

Lower Class ◽

Upper Class ◽

Middle Segment ◽

Bank Account ◽

Income Groups ◽

Bank Financing ◽

In terms of the contribution of public expenditure, it appears that the 20% group (upper class) reaches 45.49% of the total national consumption, the 40% group (middle class) contributes 36.78%, and the 40% group (lower class) only contributes 17%. Middle and upper income groups whose income is not disturbed tend to choose to save rather than spend their money, considering that no one knows when the Covid-19 pandemic will end and when the situation will return to normal. Deflation in July and August 2020 was triggered more by falling prices for a number of food, beverage and transportation groups, indicating the large demand in the midst of the Covid-19 pandemic. The decline in spending amid the Covid-19 pandemic is mainly triggered by the weakening of the purchasing power of the lower class and the tendency of the upper middle segment to withhold spending resulting in further pressure on the income of small and medium enterprises. Based on the results of the ADB survey, it can be seen that 61.1% of MSMEs in Indonesia reduced the number of workers in March 2020, 59.8% of MSMEs reduced workers in March 2020, and 59.8% of MSMEs reduced workers in April 2020.With a contribution of 61.1% to Gross Domestic Product, the recovery of the ultra-micro and MSME sectors is very urgent amidst the pressure of the Covid-19 pandemic. Ultra-micro financing based on digital technology is intended to accelerate penetration and financial inclusion, considering that ultra-micro business actors still have difficulty accessing bank financing due to various factors, such as not having a bank account