SME Sustainability and Growth in Emerging Markets

The relatedness of the factors that slow down the sustainability and growth of SMEs in emerging markets is discussed in this chapter. The chapter further argues that even though the factors that have encumbered SMEs have gained traction in enterprise development and business management research, how their multidimensional interrelationship can harm the sustainability and growth of SMEs in emerging markets is yet to receive considerable attention. The entrepreneurial ecosystem framework of Mazzarol is used to present a novel approach in this review by attempting a richer explanation of the extent of the mutual connectedness of these factors and how they shape the entrepreneurial ecosystem. This chapter concludes that the factors that inhibit the realization of an impressive sustainable growth of SMEs are interrelated. For instance, the high cost of electricity significantly reduces the profit that can be made by a small business owner, and, in this case, the small business owner may have difficulty paying back a loan obtained in favor of the business.

Sustainability Strategies for Developing SMEs and Entrepreneurship

Increasing concern about the environment and sustainability has forced industries to introduce innovations and reduce the environmental impact. SMEs provide large employment opportunities at lower cost apart from enabling industrialization of rural backward areas, thereby reducing regional conflicts and imbalances in the distribution of income and wealth. Globalization brings many new opportunities. The SME sector has emerged as a highly vibrant sector in the Indian economy over the last six decades. We know that in the long run all the aspects of sustainability should be given equal importance. We should consider environmental, social, and economic sustainability. All these three components help create a good value for the firm.

State Support of Russian Small and Medium-Sized Business in the COVID-19 Pandemic and Development Prospects

The chapter provides a retrospective analysis of entrepreneurship development in Russia from the 9th century to 2020. It highlights four periods in the development of SMEs in Russia and gives characteristics of each of the periods. It also highlights criteria for classifying enterprises as small and medium-sized businesses according to Russian legislation. A retrospective analysis of government programs to support SMEs from 1994 to 2020 was carried out. The state support program, effective since 2016, “Strategy for the Development of Small and Medium-Sized Businesses in the Russian Federation for the Period Ending 2030,” is considered in detail. Attention is paid to target indicators of SME development until 2030. An analysis of measures of state support for SMEs in the context of the COVID-19 pandemic has been carried out, highlighting the most affected industries. An analysis of SMEs by region of Russia was also carried out. An analysis of SMEs in effected industries in the post-pandemic period is carried out.

Sustaining SMEs Through Supply Chain Innovation in the COVID-19 Era

The COVID-19 pandemic has negatively affected the small and medium-sized enterprises (SMEs) in a significant manner. It has thrown some SMEs into a financial crunch, forced them to reduce/remove their workforce, hampered production due to prolonged lockdowns, halted their logistics and supply chain activities, and delayed their delivery schedules enormously. The revival of the SME sector is very important for the survival of the economy. One of the most important aspects of this revival strategy would be to innovate their existing supply chains for more visibility, transparency, and robustness through the adoption of affordable digital technologies. In spite of advanced studies in SC innovation, the in-depth studies related to this area of SMEs towards sustainability are still very scanty and inadequate. Therefore, this chapter proposes to develop a framework of SC Innovation for the sustainability of SMEs through a systematic literature review. This framework will be very useful to the owners and employees of SMEs and various researchers.

Strategies for Entrepreneurial Innovation and Sustainability

SMEs contribute up to 60% of total employment and up to 40% of GDP in emerging economies. These SMEs recently faced, due to COVID-19 pandemic, chaotic circumstances resulting in business shut down, loss of man-hours, halt of machinery and material movement by which they lost their economy. Quick solutions to address the challenges were out of view. Moreover, making major changes swiftly in the set business system was impractical and probably impossible. Getting normalcy back on track delayed extensively owing to the unavailability of vaccines. Ignorance in terms of the remedy made the businesspersons helpless to bear with the situation. Literature exposed that the pandemic situation paralyzed the business functions entirely. Obviously, to safeguard the SMEs from such incidences in the future, this study became essential in understanding remedial, innovative, and sustainable strategies.

Youth Entrepreneurship and SME Challenges

COVID-19 (coronavirus) has significantly affected small-medium enterprises (SMEs) and entrepreneurs in the Republic of Namibia in terms of the massive shift in which all businesses were required to go online or find alternative means to operate or function. Despite the theatrical change, there is a lack of understanding amongst SME owners and entrepreneurs as to what it means to conduct business in the new normal, and thus proper communication channels, with bold leadership need to be followed especially in developing nations such as Namibia, where language barrier and the diversity of people can create challenges. This chapter first reviewed literature that discusses how SME owners/entrepreneurs are dealing with the challenges, followed by an entrepreneurial response Namibians has to implement, brought about by the COVID-19 pandemic. Twenty Namibian SME owners were interviewed to understanding how they deal with the COVID-19 pandemic.

COVID-19's Impact on Tanzania's Economy and Key Sector Prospects

Many governments in developing countries cannot respond to COVID-19 as solely a health crisis given the economic and political crises that also emerge. Tanzania's unconventional approach to COVID-19 may be slow in response and may lack direction, but its uniqueness illustrates the need for governments to form context-specific smart containment strategies and recovery plans. The government can increase public health funding to local health centers to implement mass testing, enforce social distancing and sanitation measures, and invest in agriculture and other key sectors to produce for the domestic economy. These initiatives enable the government to maintain multiple competing priorities: managing the transmission rate while ensuring food security and protecting jobs.

Challenges and Opportunities From COVID-19 vis-à-vis Informal Cross-Border Women Entrepreneurs Scenario in Zimbabwe

Although entrepreneurship is widely accepted as a driver of economic development and growth across the globe, the COVID-19 pandemic and several lockdowns have created a unique situation in the entrepreneurship discourse. Accordingly, this chapter aims at providing empirical evidence on the challenges and opportunities emanating from COVID-19 within the context of informal cross-border women entrepreneurs. This study establishes five challenges, namely, business closures, caregiving responsibility, the decline in demand, shortage of goods, and liquidity crisis. Moreover, it also establishes digital marketing and business networks as opportunities. The recommendations to deal with these challenges are proffered and the suggestions for further study are captured.

Post-COVID-19 Business Strategies to Combat Challenges of Colombian MSMEs

COVID-19 has placed the MSMEs of the world and Latin America in a difficult situation. With the region's economies in the middle of the march, many of them have been liquidated or their activity has been drastically reduced, reflected in lower incomes, among other situations. Faced with this situation, the governments of the countries have developed actions to protect the health of the population and the economy of the countries. This chapter presents and analyzes the strategies that have been developed and are being developed in times of the pandemic and are going to be developed in the post-COVID period by Colombian micro, small, and medium-sized enterprises (MSMEs).

Strategies for Sustainability of IE3H Sector in the COVID-19 Era

Ever since independence, industries have been the temples of modern India. Now, with a fast-growing IE3H sector, policymakers have focused on strengthening IT, hospitality, and hygiene with investments in basic services such as health and education. When it comes to public infrastructure, they have also predominantly supported development in India. The Indian economy was weakening even before the pandemic struck the world. Yet, this is not co-morbidity. The economy has always displayed remarkable resilience and has the ability to face the challenge. However, the economic blueprint for the country will need to be redrawn, at least for one or two years, with survival and revival taking precedence over expansion and growth. This is the time to strengthen the foundations of the economy, such as the IT, hospitality, hygiene, health, and education sectors.