Business Inspiration: Small Business Leadership in Recovery?

2012 ◽  
Vol 26 (6) ◽  
pp. 473-489 ◽  
Author(s):  
David Rae ◽  
Liz Price ◽  
Gary Bosworth ◽  
Paul Parkinson
Keyword(s):  
Public Sector ◽  
Small Business ◽  
Small Firms ◽  
Development Programme ◽  
Economic Downturn ◽  
Business Leadership ◽  
Innovation Development ◽  
Business Survival ◽  
Skill Sets ◽  
The Impact

Business Inspiration was a short, action-centred leadership and innovation development programme designed for owners and managers of smaller firms to address business survival and repositioning needs arising from the UK's economic downturn. The article examines the design and delivery of Business Inspiration and the impact of the programme on participants' learning experiences. It also assesses whether there are transferable lessons to be learned for the development of small firms in general. The article contributes new insights to the debate and the literature on owner–manager development in small firms. The authors propose that there is continuing need and demand for such learning. They examine the requirements for public-sector investment and for specific approaches and skill sets in designing, marketing and delivering effective programmes of this type.

The Financial Impact of Energy Prices on Small Business

1985 ◽  
Vol 3 (4) ◽  
pp. 47-57
Author(s):  
Hyder Lakhani ◽  
Bruce D. Phillips
Keyword(s):  
Small Business ◽  
Small Firms ◽  
Vice President ◽  
Policy Implications ◽  
Small Business Administration ◽  
Energy Prices ◽  
Percentage Point Increase ◽  
Empirical Estimates ◽  
The Impact ◽  
Fuel Costs

Hyder Lakhani and Bruce D. Phillips are respectively vice-president, EEE Research, Fairfax, Virginia, USA, and senior economist, Office of Advocacy, United States Small Business Administration, Washington DC. This paper is based on research contract No. SBA-7177-AER-83 to EEE Research from the Office of Advocacy of the SBA. The authors are grateful to Thomas Gray and Raymond Marchikitus of the SBA for their valuable comments. The views and errors are those of the authors and not of the SBA. The objective of this paper is to analyse the economic impact of fuel costs and non-fuel costs on profits and sales of small business firms in ten Standard Metropolitan Statistical Areas in the US. The review of the literature (in Section 1) concludes that existing studies use industry aggregates from Census of Manufacturing data which exclude 80 percent of small firms so that the impact on small firms cannot be determined. Also, the studies fail to analyse the impact of fuel costs on profits and sales and arrive at contradictory conclusions. The authors develop an econometric model of the impact of energy costs on profits and sales in Section 2. The data on small business firms are developed from a survey report completed for the SBA (Section 3). Empirical estimates reveal that a one percentage point increase in fuel costs tends to reduce profits in the range of 0.009 to 0.07 percent and sales in the range of 0.01 to 0.06 percent. Increases in payroll and operating costs are correlated with increases in profits and sales because of labour- intensiveness of the small firms in the sample (Section 4). Policy implications of this paper are that small firms have not fully adjusted to the 1979 increase in fuel prices, or cannot adjust any further. Further, small firms must increasingly substitute non- fuel for fuel inputs or if that is not possible, then purchases of the least energy- intensive plant and equipment should be made, including energy conservation devices.

COVID-19 Lockdown Restrictions and Small Business Survival Strategy: Government Supporting Schemes

2021 ◽  
pp. 227853372110451
Author(s):  
Minyahil Assefa
Keyword(s):  
Small Business ◽  
Small Businesses ◽  
Survival Strategy ◽  
Relative Importance ◽  
Logit Models ◽  
Business Survival ◽  
Binary Logit ◽  
The Government ◽  
Tax Payments ◽  
The Impact

From antiquity to the present day, the contribution of small businesses to the economic development of a country is overwhelming. Nowadays, COVID-19 lockdown restrictions have exerted an outrageous impact on small businesses survival. In developing countries where government-supporting capacity is low, the severity is substantial. The present study predicts the impact of COVID-19 lockdown restriction and government supporting schemes on small business survival. To meet this purpose, the study primarily used PLS-SEM and binary logit models. The results confirmed that over 44% of small businesses would fail in the first month of lockdown restriction. Moreover, only 6% have cash reserve to survive twelve months. In this regard, the present study suggested that the government should have to abstain from total lockdown measures, without government-supporting schemes. As such, the study has examined the relative importance of COVID-19 based special loan, suspension of payments, withdrawal of restricted funds, and exemption of tax and penalty payments. Among these supporting schemes, COVID-19 based special loan is the most important government-supporting scheme followed by the suspension of interest and principal payments. However, the exemption of tax payments and withdrawal of restricted funds were not significant.

Gender and Ownership in UK Small Firms

1994 ◽  
Vol 18 (3) ◽  
pp. 11-27 ◽  
Author(s):  
Peter Rosa ◽  
Daphne Hamilton
Keyword(s):  
Small Business ◽  
Small Firms ◽  
Shared Responsibility ◽  
Business Ownership ◽  
Industrial Sectors ◽  
Small Business Management ◽  
Female Entrepreneur ◽  
The Individual ◽  
The Impact ◽  
Sectoral Variation

The emphasis on the individual “female entrepreneur” in much of the small business literature in the last decade disguises the fact that many women in business ownership are in partnership with others, usually with men. How “gender” impinges on the process of small business ownership has been little studied. The paper examines gender and ownership using evidence from a three-year study on the impact of gender on small business management, involving interviews with 602 male and female UK business owners, drawn from three industrial sectors. Difficulties were encountered in interpreting sex differences as “gender” trends, owing to significant sectoral variation. Nevertheless, some marked gender differences were identified. These referred to differential patterns of kinship with the respondent; the allocation and perception of specialist roles within the business; and the fact that female owners are less likely to be associated with more than two businesses. Overall sole traders were in the minority in both sexes, implying that most owners shared responsibility and management in some way with other owners. The paper concludes with methodological implications of co-ownership for the sampling and analysis of small business owner/managers from a gender perspective.

scholarly journals Public policy of support for small business innovation in the U.S.: lessons for Russia

2014 ◽  
pp. 164-171
Author(s):  
E. A. Zinovieva ◽  
A. Balyshev
Keyword(s):  
Small Business ◽  
Small Firms ◽  
High Technology ◽  
The United States ◽  
Policy Support ◽  
Actual Problem ◽  
Innovation Development ◽  
Business Innovation ◽  
Small Business Innovation ◽  
The Government

The article analyzes the characteristics of the program of Assistance to Small Business Innovation Research (SBIR) in the United States. This program is aimed at support and subsequent commercialization of high technology developed by small firms. The government agencies involved in the implementation of the program determine the research areas manage the allocated funds themselves. The program has been in operation for over 30 years and has proven to be effective. It provides business with funds necessary at the primary, the most risky phase of production of innovative goods and services, and also gives signals to the market about popular areas of innovation development. Participation in the program is a guarantee of a high level for innovative product or service produced by the firm and allows companies to raise additional funds. Conclusions drawn from the analysis of the SBIR may be useful for the policy support of science and technology in Russia. The implementation of programs similar to SBIR in Russia will solve the actual problem of innovation development, to reduce information asymmetry in the market of innovative products and services and help in attracting venture capital in high-technology projects.

scholarly journals Patents and small business risk: longitudinal evidence from the global financial crisis

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Roberto Barontini ◽  
Jonathan Taglialatela
Keyword(s):  
Financial Crisis ◽  
Small Business ◽  
Small Firms ◽  
Global Financial Crisis ◽  
Business Risk ◽  
Firm Risk ◽  
Content Type ◽  
Patent Applications ◽  
The Global Financial Crisis ◽  
The Impact

PurposeThe purpose of this study is to shed light on the relationship between patent applications and long-term risk for small firms across the global financial crisis of 2008. During a crisis, firm risk often skyrockets, and small and medium enterprises face significant dangers to their business continuity. However, managers have a set of strategies that could be implemented to increase a firm’s resilience, sustaining competitive advantages and improving access to financial resource. The authors focused on the investigating the impact of patenting activities on small business risk in a time of crisis.Design/methodology/approachThis is a quantitative study based on a sample of Italian firms that applied for a patent in 2005. The changes in corporate credit ratings over a five-year period are related to different proxies of patent activity using multivariate regression analysis.FindingsFirms that filed for a patent were more resilient, compared to the control sample, during the financial crisis. Innovative activities resulting in patent application seem to deliver strategic resources useful to tackle the crisis rather than increase riskiness. The moderating effect of patents on risk sensitivity is stronger for small firms and when the number of patents or the patent intensity is larger.Originality/valueLimited evidence is available on how patent applications are related to risks for small firms during an economic crisis. The authors highlight that the innovative efforts resulting in patent applications can support small business resilience. The authors also point out that the implementation of patent information in small firms' credit score modeling is still an uncommon practice, while it is useful in estimating firm risk in a way more robust to exogenous credit shocks.

Karakteristik Dan Gaya Kepemimpinan Organisasi Sektor Publik

2017 ◽  
Vol 25 (1) ◽  
pp. 1-12
Author(s):  
Priyastiwi Priyastiwi
Keyword(s):  
Public Sector ◽  
Organizational Context ◽  
Business Organizations ◽  
Business Leadership ◽  
The Public ◽  
Clear Vision ◽  
Public Sector Leadership ◽  
New Research ◽  
Leadership Research ◽  
The Impact

This paper explains the differences in the characteristics of the leadership of the public sector with the private sector. Public sector leadership which emerged as a distinctive leadership and autonomous domain, although the debate continues as compared to business leadership research. This article opens the way for a promising new research on arising of process leadership from the collaboration between business organizations and governance. Leadership training has failed to take into account the operational and the public sector organizational context. This article shows that in the future, the role of ethics and integrity of a leader as well as the importance of emotion and spirituality. A leader who has the ability to see others as people with a variety of emotions, beliefs, skills, knowledge and abilities, and to drive the whole organization towards a clear vision. The impact of different leadership styles are more dependent on contextual factors such as social and cultural environment in which public sector organizations operate.

Russian regions' financing problems will grow

2015 ◽  
Keyword(s):  
Public Sector ◽  
Small Business ◽  
Federal Government ◽  
Federal Budget ◽  
Economic Downturn ◽  
Russian Regions ◽  
Content Type ◽  
Regional Authorities ◽  
Regional Budgets ◽  
Double Digit

Subject Russian regional finances. Significance The Russia economic downturn is hitting the budgets of regional and local authorities. On March 30, four regional governments announced that they planned to issue bonds. The federal government was reported to be restructuring regions' debts to the federal budget, with a long grace period and a refinancing rate of 0.1% at a time of double-digit inflation. On April 1, the federal government said it would be giving 16.9 billion rubles (about 290 million dollars) in small-business subsidies to the regional authorities and plans for mortgage subsidies to halt the 30-40% drop in the pace of construction in the regions. Impacts Federal transfers to sub-national budgets will be increased from 2014 levels. Soft loans from the federal budget to regional administrations will also have to be increased. Public sector pay that is financed from regional budgets will fall.

CEO SUCCESSION, HONING, AND ENTERPRISING: A PROMISING WAY TO ACHIEVE SMALL BUSINESS PERFORMANCE?

2008 ◽  
Vol 13 (02) ◽  
pp. 117-132 ◽  
Author(s):  
MATS WESTERBERG ◽  
JOAKIM WINCENT
Keyword(s):  
Firm Performance ◽  
Small Business ◽  
Business Performance ◽  
Small Firms ◽  
Environmental Uncertainty ◽  
Ceo Succession ◽  
Direct Relation ◽  
Strategic Competence ◽  
Small Business Performance ◽  
The Impact

This study examines CEO succession in small firms and the impact of CEO honing and enterprising competence on firm performance within a contingency framework. In a study of 162 small firms, we hypothesize that a newly appointed CEO will bring entrepreneurship to its small firms, but the results do not support this. Instead, the results indicate that a new CEO tends to introduce honing in the firm. Only CEO market enterprising had a direct relation to better performance. However, we find several instances of moderation effects attributable to strategic competence, environmental uncertainty, and the nature of tasks in the company.

Small Business Growth and Tax Policy in Canada—A Theoretical Model

10.1068/c0322 ◽  
2003 ◽  
Vol 21 (4) ◽  
pp. 567-578 ◽  
Author(s):  
Khaled Soufani
Keyword(s):  
Theoretical Model ◽  
Small Business ◽  
Tax Policy ◽  
Small Firms ◽  
Business Growth ◽  
Compliance Costs ◽  
Start Up ◽  
Key Policy ◽  
Small Business Growth ◽  
The Impact

The author develops a theoretical model for considering the impact and the compliance costs of taxation on the liquidity and the financial situation of small firms in Canada. The model addresses the tax burden that faces small firms at their different stages of growth and development, but the emphasis is on the start-up phase where small firms need more cash or liquidity relative to businesses at more developed stages of the business life cycle. It is recognized that one of the ways of bolstering the availability of cash and short-term liquidity for small firms is to offer them tax incentives and to design a system that reduces their compliance costs. The author looks at the importance of the small business sector and the stages of development and growth of firms; presenting the small business tax policy, and then providing some policy and managerial recommendations. The author's intention is not to measure direct tax and compliance costs, but simply to reflect on some key policy parameters.

Revisiting control aversion: the role of financiers in connecting entrepreneurs to the marketplace

2015 ◽  
Vol 22 (3) ◽  
pp. 417-432 ◽  
Author(s):  
Lars Silver ◽  
Nicolaus Lundahl ◽  
Björn Berggren
Keyword(s):  
Small Business ◽  
Small Businesses ◽  
Structural Equation ◽  
Small Firms ◽  
Market Failure ◽  
Credit Rationing ◽  
Chief Executive ◽  
Content Type ◽  
The Impact

Purpose – The purpose of this paper is to investigate the effects of small business entrepreneurs’ relinquishment of control aversion and the impact of their interaction with external financiers on market connection. Design/methodology/approach – Questionnaires were sent to the chief executive officers of small businesses in the manufacturing and professional services sectors. A total of 459 valid responses were analyzed in a structural equation model. Findings – The attitude of small business entrepreneurs in relying on financiers’ advice is marked by control aversion. This fear of losing control creates information asymmetry, which in itself leads to decreased financing opportunities for small business entrepreneurs. The results of the study suggest that small firms seeking the aid of financiers will be provided with substantial additional information about the market. Issues pertaining to supply seem to be less relevant than those relating to demand, thus indicating that greater focus should be placed on the investment readiness of small businesses. Originality/value – This study emphasizes the importance of the role of attitudes among SMEs in understanding capital market failure and credit rationing.

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