scholarly journals RISK MITIGATION FOR SMALL AND MEDIUM-SIZED ENTERPRISES (SMES) IN THE MIDDLE OF VOLATILITY IN THE WORLD’S ECONOMY CONDITION

2021 ◽  
Vol 4 (1) ◽  
pp. 34-39
Author(s):  
Gresika Bunga Sylvana
Keyword(s):  
Business Processes ◽  
Small And Medium Enterprises ◽  
Risk Mitigation ◽  
The Great Depression ◽  
The World ◽  
National Leaders ◽  
World Economic ◽  
Economy Condition ◽  
Medium Enterprises ◽  
The Impact

ABSTRACT Indonesia's economic growth in the first quarter of 2020 of 2.97% was released by the Central Statistics Agency (BPS). It is undeniable, that number is the lowest growth rate in the last 19 years. We understand that the economic disruption caused by the COVID-19 pandemic did occur in various parts of the world. A significant economic slowdown is a big task for many national leaders. Some world economic experts even mention that the disruption of the economy due to this pandemic can resemble the effects of the Great Depression of 1930 ago. If we review the impact of the COVID-19 pandemic which has caused extraordinary disruption in the economic field, it is seen that Micro, Small, and Medium Enterprises (MSMEs) are a sector that is quite severe. Basically, the concept of risk management is not commonly used in SMEs business processes. This is because, in general, the resources owned by SMEs are quite limited. However, in this paper I want to illustrate at least there are simple concepts that can be applied by SMEs.

scholarly journals Dampak Dampak covid-19 terhadap Usaha MIkro, Kecil dan Menengah

2021 ◽  
Vol 4 (1) ◽  
pp. 662-669
Author(s):  
Siti Nuzul Laila Nalini
Keyword(s):  
National Economy ◽  
Small And Medium Enterprises ◽  
The World ◽  
Medium Enterprises ◽  
Almost All ◽  
The Impact

The COVID-19 pandemic has an impact on the economy, social and politics of not only big countries but almost all countries in the world. Indonesia is one of the countries affected especially on the economic side. Indonesia, which is dominated by Micro, Small and Medium Enterprises (MSMEs), needs to pay special attention to this sector because the contribution of MSMEs to the national economy is quite large. This journal aims to analyze the impact of the COVID-19 pandemic on the existence of MSMEs in Indonesia and how solutions can help MSMEs survive in a COVID-19 pandemic situation.

scholarly journals COVID-19 - Digital Transformation and Digital Competency

2021 ◽  
Vol 9 (3) ◽  
Author(s):  
P Venkat Kamesh
Keyword(s):  
Digital Literacy ◽  
Small And Medium Enterprises ◽  
Developed Countries ◽  
Digital Transformation ◽  
Common People ◽  
Working Paper ◽  
The World ◽  
Digital Payments ◽  
Medium Enterprises ◽  
The Impact

The COVID-19 pandemic has caused serious and long-term disturbances in people's lives all over the world, in both developing and developed countries. This has led to financial crisis and great depression in the GDPs of many countries. It has not only impacted the Multi-National Businesses (MNCs) but also disturbed the Small and Medium Enterprises (SMEs) and life’s of man vulnerable people. As the crisis continues, the pandemic's pervasive impacts, which have affected every part of our communities, continue to unfold, leaving profound marks on people's livelihoods and countries' economies that are likely to persist for several years after the pandemic has ended. As part of the global response to COVID-19, the digital technology industry especially Fintech (Financial Technology) has been instrumental in creating and delivering services and technologies that have mitigated, at least in part, the pandemic's effect on multiple aspects of people's lives in every part of the world. The Fintech companies and Start-ups have played a tremendous role in mitigating the inconvenience for the common people by implementing the next generation solutions for everyone and the people were quick to adopt to such a change. The interest and surge of usage of Fintech applications (Digital applications related to Finance/Payments/Banking/Ecommerce) carries in preserving people’s livelihoods and businesses that have been, and continue to be, threatened by the pandemic COVID-19. This working paper will discuss about the impact of digital payments in the developing country like India during COVID-19, Pre-COVID-19, evolution of digital transformation in India from the past few years, People adoption to digital technologies, digital literacy intensification in emerging markets and also discusses the future trends of Fintech and its impact on consumers and businesses even after the pandemic ends.

scholarly journals The Impact of Technology in the Field of Accounting in Small and Medium Enterpresis

2019 ◽  
Vol 8 (4S3) ◽  
pp. 445-449
Keyword(s):  
Information Technology ◽  
Competitive Advantage ◽  
Web Sites ◽  
Small And Medium Enterprises ◽  
Human Errors ◽  
The World ◽  
Commercial Enterprise ◽  
Impact Of Technology ◽  
Medium Enterprises ◽  
The Impact

The impact of information technology in accounting is playing a major role in small and medium enterprises information technology has been the prevailing impact to businesses and around the world .It is now given stretching from the perspective of technology and it is benefits as to whether it can be effective, that is improving small and medium enterprises performance, where many if not most of businesses implementation include competitive advantage, reduction in human errors. Companies in telangana state have different reasons for frequent improvement of technology to existing technologies used in the companies. an system application practices company outlined that the usage of technology to maximise your industrial enterprise productiveness creates the platform to recognise authentic employer success business productivity and statistics technology guarantees businesses have the equipment to conquer the challenges of executing on technique each day and prospering in gift international scenario.. Small and medium enterprises business firms implements technology because it enables the company to keep up with other small and medium enterprises business firms in throughout the world. And technology allows businesses to decorate their communique strategies. using emails and awesome web web sites can help agencies beautify communique with purchaser.. This permits in retaining competitive advantage and commercial enterprise corporation owners can use generation to reduce commercial organization costs. And it enables in automating decrease lower back workplace features, for example file of ebook retaining, accounting and payroll. generation also can be used to create secure environments for maintaining sensitive organization or consumer facts. in international situation

SME Financial Management

2013 ◽  
pp. 330-342 ◽  
Author(s):  
Edna Stan-Maduka
Keyword(s):  
Risk Assessment ◽  
Risk Management ◽  
Financial Management ◽  
Business Processes ◽  
Small And Medium Enterprises ◽  
Risk Mitigation ◽  
Simplified Approach ◽  
Medium Enterprises ◽  
Operational Processes

Regulators’ efforts to create awareness of risk management in Small and Medium Enterprises (SMEs) have heightened since the 2008 recession which affected many economies. The objective has been to stress the fundamental role of risk assessment and mitigation in the protection of business processes and profitability of SMEs. This has been hard to achieve due to the inadequate financial and operational processes within small and medium enterprises. This chapter presents an exploration of risk management in SMEs and a simplified approach to SME risk assessment and operational risk mitigation.

scholarly journals The Influence of the COVID-19 Pandemic on Small and Medium Enterprises' Economic Security

2021 ◽  
pp. 78-82
Author(s):  
O. Olshanskyi ◽  
◽  
M. Kramchaninova ◽  
Keyword(s):  
Financial Support ◽  
Technological Progress ◽  
Service Industry ◽  
Small And Medium Enterprises ◽  
Economic Security ◽  
Economic Consequences ◽  
Negative Effects ◽  
The World ◽  
Medium Enterprises ◽  
The Impact

The article researches the influence of the COVID-19 pandemic on small and medium enterprises' economic security. The issues and challenges faced by SME as a result of COVID-19 pandemic's outburst are studied in the context of maintaining their economic security. It had been established that the impact of COVID-19 pandemic has a distinctive differential effect on certain sectors. The severity of financial turmoil varied throughout regions and sectors of economics, but generally forced the indexes of economic development to demonstrate negative dynamics. Following the economic crisis triggered by the pandemic, the service industry has suffered at most. The complexity of coordinating measures targeted at combating the spread of COVID-19 pandemic with economic development's priorities led to increase in threats hanging over the SME's economic safety. The authors summarize all of the factors in the picture influencing the productivity of small and medium enterprises' activities at the present time all over the world. The study identifies and explains the possibility of measures taken towards supporting enterprises and organizations, based on partnerships between businesses, government and civil society, and also lists recommendations for political measures, which might help the SME to maintain the level of economic security sustainable enough to navigate through the constantly changing environment. The scale of those measures taken against the negative effects of pandemic's economic consequences on small and medium enterprises' operation and development, implies the availability of target programs with financial support, infrastructural growth and professional consulting on the issues concerning SME, as well as supply of means proposed by digitization and technological progress. The measures introduced in the article may be insufficient to help small and medium enterprises survive the long-lasting crisis, however, may be sufficient for them to take time to adapt the activities of enterprises to the current conditions.

scholarly journals STRATEGI BISNIS PADA KINERJA PERUSAHAAN ERA COVID-19

2021 ◽  
Vol 11 (2) ◽  
pp. 158-183
Author(s):  
Desfitrina Desfitrina ◽  
Zulfadhli Zulfadhli ◽  
Triana Agustini
Keyword(s):  
Business Strategy ◽  
Structural Equation ◽  
Small And Medium Enterprises ◽  
Creative Industries ◽  
Equation Modeling ◽  
Analysis Tool ◽  
Verification Methods ◽  
The World ◽  
Medium Enterprises ◽  
The Impact

The emergence of natural phenomena in the abundance of the entire population on earth resulted in a large enough impact, especially health and economy in various sectors of society in the world. The Coronavirus has devastated micro, small and medium enterprises that have gone bankrupt but there are also opportunities for micro, small and medium enterprises. But there are also some sectors that have benefited and become opportunities to reap profits, such as virtual internet telecommunications and mask making, not all have gone bankrupt, as happened in the tourism, culinary, hotel, and restaurant sectors that cannot adapt to today's difficult times. My shopping habit of visiting places has decreased. This habit leads to virtual services to reduce transactions crowding with many people so that the Coronavirus can be reduced. Efforts to reduce activities outside the home will open up opportunities for micro, small and medium enterprises online so that people use the internet and don't crowd. Turning on micro, small and medium enterprises so that the impact of corona can be avoided quickly. Changes in people's behavior that reduce outdoor activities and networks of creative industries and small and medium-sized businesses in the largest business sector in the world that appear to be Covid-19 are quite depressed in dealing with problems and building businesses. This research method is descriptive and verification methods, the analysis tool is structural equation modeling (SEM, Lisrel). The results show that how the influence of business strategy on the performance of small and medium scale companies during the Covid-19 period. Keywords: Business Strategy, Company Performance, Micro, Small And Medium Enterprises, Financial Performance, On The Covid-19 Epidemic   Abstract: Munculnya fenomena dari alam secara tiba-tiba yang menimpah seluruh penduduk dimuka bumi mengakibatkan dampak yang cukup besar terutama kesehatan dan ekonomi diberbagai sektor masyarakat didunia. Virus Corona memporak porandakan  usaha mikro kecil  menengah yang mengalami kebangkrutan tetapi ada juga peluang bagi usaha mikro kecil dan menengah. Tetatpi ada pulah faktor yang mendapat keuntungan  dan menjadi kesempatan untuk meraup keuntungan seperti  bidang telekomunikasi internet virtual dan pembuatan masker tidak semua mengalami  kebangkrutan seperti yang terjadi pada bidang pariwisata, kuliner, hotel dan restoran yang tidak bisa beradaptasi dengan masa sulit saat ini. Kebiasaan  shopping  dengan mendatangin tempat sudah berkurang.  Kebiasaan ini mengarah pada layanan virtual guna mengurangi transaksi yang berkerumun dengan banyak orang agar virus Corona dapat berkurang. Usaha untuk mengurangi aktivitas diluar rumah ini akan membuka peluang usaha mikro kecil dan menengah di jalur daring agar masyarakat menggunakan internet dan tidak berkerumun. Menghidupkan Usaha mikro kecil dan menengah dapat agar dampak corona dapat dihindari secara cepat. Perubahan perilaku masyarakat yang mengurangi aktivitas di luar ruangan dan jaringan Industri kreatif dan usaha kecil menengah pada sektor bisnis terbesar di dunia yang yang tedampak covid-19 cukup tertekan dalam menangani masalah dan membangun usaha. Metode penelitian ini adalah metode deskriptif dan verifikasi, alat analisisnya adalah pemodelan persamaan struktural (SEM, Lisrel). Hasil penelitian menunjukkan bahwa strategi bisnis berpengaruh terhadap kinerja perusahaan skala kecil menengah masa covid-19.   Keywork: Business Strategy, Kinerja Perusahaan, usaha mikro kecil menengah,kinerja keuangan, pademi Covid-19

scholarly journals The Impact of Emerging Technologies on Small and Medium Enterprises (SMEs)

2010 ◽  
Vol 4 (4) ◽  
Author(s):  
Wei Dai
Keyword(s):  
Business Processes ◽  
Emerging Technologies ◽  
Small And Medium Enterprises ◽  
Software As A Service ◽  
Global Networks ◽  
Trading Partners ◽  
Medium Enterprises ◽  
The Impact ◽  
The Phoenix ◽  
Service Framework

This paper explores the potential of emerging technologies in transforming and automating the business processes of Small and Medium Enterprises (SMEs) and enable them to engage with trading partners and customers in global networks. The technologies are associated with Services Oriented Architecture (SOA) through Software as a Service (SaaS), cloud computing and innovative application environment developed through the Phoenix research program at Victoria University. A service framework based on the emerging technologies from the Phoenix program is presented and discussed in response to the SME barriers raised in accessing those technologies.

scholarly journals Covid-19 pandemic in central Asia: policy and environmental implications and responses for SMES support in Uzbekistan

2021 ◽  
Vol 258 ◽  
pp. 05027
Author(s):  
Konstantin Kurpayanidi ◽  
Alisher Abdullaev
Keyword(s):  
Developing Countries ◽  
Financial Support ◽  
Small And Medium Enterprises ◽  
Business Development ◽  
The Other ◽  
Environmental Implications ◽  
The World ◽  
The One ◽  
Medium Enterprises ◽  
The Impact

Today the economy of Uzbekistan, as well as the majority of other countries of the world, is developing in conditions of uncertainty. On the one hand, it is associated with the consequences of new coronavirus pandemic, and on the other - with the introduction of forced restrictions, which hinder business development. This article deals with the necessity to provide financial support to business during the coronavirus pandemic in developing countries. It shows the impact of measures to support small and medium enterprises on economic development. Finally, it outlines recommendations for additional interventions and further research.

SME Financial Management

2013 ◽  
pp. 1107-1119
Author(s):  
Edna Stan-Maduka
Keyword(s):  
Risk Assessment ◽  
Risk Management ◽  
Financial Management ◽  
Business Processes ◽  
Small And Medium Enterprises ◽  
Risk Mitigation ◽  
Simplified Approach ◽  
Medium Enterprises ◽  
Operational Processes

Regulators’ efforts to create awareness of risk management in Small and Medium Enterprises (SMEs) have heightened since the 2008 recession which affected many economies. The objective has been to stress the fundamental role of risk assessment and mitigation in the protection of business processes and profitability of SMEs. This has been hard to achieve due to the inadequate financial and operational processes within small and medium enterprises. This chapter presents an exploration of risk management in SMEs and a simplified approach to SME risk assessment and operational risk mitigation.

scholarly journals Problems Caused by the Impact of COVID-19 on Small and Medium Enterprises Management and its Solutions

2021 ◽  
Vol 126 ◽  
pp. 05001
Author(s):  
Badri Gechbaia ◽  
Amiran Tsilosani ◽  
Olha Prokopenko ◽  
Zurab Mushkudiani ◽  
Ketevan Goletiani
Keyword(s):  
Small And Medium Enterprises ◽  
Added Value ◽  
Short Term ◽  
Management Scenarios ◽  
Active Involvement ◽  
Rapid Action ◽  
The World ◽  
Internet Platform ◽  
Medium Enterprises ◽  
The Impact

The present paper has been made a comparative analysis of Small and Medium-sized Enterprises to determine the impact of the COVID-19 pandemic-related restrictions and lockdown on their activity. At the same time has been analysed pre- and post-pandemic periods. Also, the paper provides opinions about the ways how to mitigate and avoid impact on small and medium enterprises (SMEs) caused by pandemics, which might reoccur in the future. The importance of SMEs in the world and Georgian economy has been estimated in terms of added value, GDP, turnover, manufacturing products, and working place formation. It has been concluded that SMEs can handle some minor and short-term issues by themselves with the elaboration of the business continuity plan and crisis management scenarios, but these still are needed the active involvement of state aid. The latter implies financial support and professional, informational, and technical support as well, such as state internet-platform available for SMEs for interactive coordination and communication between the parties and for rapid action from the state on those fields which has been damaged mostly.

Sign in / Sign up

Export Citation Format

Share Document