Abstract

The need to implement innovations for the growth of SMEs lies in the need to create favorable conditions and the conducive environment for women entrepreneurs to develop the potential of their businesses. The study will be presented from the opinion of the experts composed of founders and CEOs of exponential certified SMEs from developing countries in the artisanal sector. It will expose the tangible and intangible factors that influence decision-making from the perspective of neuroeconomy. The study sets out the opinions of experts, who are decision makers in companies. They were analyzed as they sought to analyze what factors they use to be businesses validated by international NGOs to give them their certification.

Highlights

  • After agriculture, the artisan sector is the second largest employer in developing countries, made up for the most part by women who do traditional crafts to obtain economic resources

  • The artisan sector is a “global creative economy”, representing what can be exemplified as a country that would symbolize the fourth largest economy and workforce in the world according to the Inter-American Development Bank (IDB)

  • Non-Tangible Factors (Emotions, Feelings, etc.) Emotions in online decision-making by the client are of vital importance since 95% of purchase decisions are made from the emotional sphere

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Summary

Introduction

The artisan sector is the second largest employer in developing countries, made up for the most part by women who do traditional crafts to obtain economic resources. These countries have a competitive advantage due to their cultural traditions, artisan skills and specialized raw materials (Foote, 2015). The number of digital shoppers globally is rapidly expanding from 1.32 billion in 2014 to 1,66 billion in 2017 and is expected to increase to 2,14 billion in 2021 (Statista, 2018) This translates into an increase in electronic sales of global retailers from 2014 by 1,336 billion dollars to 2,290 billion dollars in 2017 and an increase of 4,479 billion dollars is forecast for 2021 (Statistica, 2018). Joining the new digital trends to sell their products (Ismail, et al, 2014)

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