Transaction Costs of Credit to the Small-Scale Sector in the Philippines

In this article, the current state of management of human resources in Small and Medium Enterprises (SMEs) in India is explored. The owner-managers play important roles in managing human resources in SMEs. The direct involvement of the owner manager also leads to ad hoc and informal HR practices. However, formal HRM systems can help increase performance. This study specifically examines the level of formalisation of human resource management in small and medium enterprises in India. Formalisation is defined as the extent to which regular and written-up procedures exists, a stated policy is in place, and a specialist designs and executes the HR systems. Data were collected using a questionnaire from 89 small enterprises and 54 medium enterprises on the level of formalisation of twelve HR functions. It was found that the level of formalisation of HRM systems in SMEs was low and owner-managers played a central role in the HR functions of their enterprises. Compared to small enterprises, the level of formalisation was found to be higher for medium enterprises. The level of formalisation increased with increase in employee strength. An inverse relationship between the extent of involvement of the owner-manager in managing human resources and the existence of a formal policy for HRM was evidenced. Implications of decisions by owner-managers to keep HR functions informal or formal in small and medium enterprises are discussed. It is necessary for SMEs to find ways in which formal and flexible systems can co-exist.

Management of Innovation in Small and Medium Enterprises in India: A Barrier Approach

Small and Medium Scale Enterprises constitute essential ingredients in the lubrication and development of any economy. In Nigeria, the story makes no remarkable difference as Small and Medium Scale Enterprises dominate the economy. Government over the years has formulated a number of policies aimed at developing Small and Medium Scale Enterprises. While most policies actually failed due to poor implementation, others however, succeeded. Efforts have been made in the past to identify the role of Small and Medium Scale Enterprises to the development of Nigeria’s economy, its problems and prospects which created a vacuum on the role of government and other financial institutions in the development of Small and Medium Scale Enterprises. It is this vacuum created by previous researchers that prompted this write up. It is therefore the thrust of this paper to identify the role of government and other financial institutions particularly micro finance institutions in the development of small and medium scale enterprises in Nigeria. Relevant literatures were reviewed to bring out salient issues on the subject matter of this paper. The chief source of information for this write up is secondary method of data collection. It was discovered that financial institutions provide the necessary financial lubricant that facilitate the development of Small and Medium Scale Enterprises, but, a lot still need to be done by the government in terms of policy formulation in order to complement the efforts of financial institutions. This paper recommends among others, further establishment of micro finance institutions to serve the grass root financial needs, sensitization of the general public on how to access funds for SMEs development, public private partnership should also be

Contemporary dynamics and complexity of the environment force small and medium-sized enterprises to build a sustainable competitive advantage by exploring new market opportunities. The concept of entrepreneurial orientation reflects the degree to which the development goals of these enterprises are driven by the identification and exploitation of market opportunities.

Purpose: The aim of the study was to investigate the impact of digital marketing adoption on firm performance: a case study of small and medium enterprises in India. Methodology: This study adopted a desk methodology. A desk study research design is commonly known as secondary data collection. This is basically collecting data from existing resources preferably because of its low cost advantage as compared to a field research. Our current study looked into already published studies and reports as the data was easily accessed through online journals and libraries. Findings: The adoption of digital marketing among small and medium enterprises (SMEs) in India has led to significant improvements in firm performance. Increased online visibility and reach have resulted in greater customer engagement and acquisition for these businesses. Cost-effectiveness and targeted advertising through digital channels have enhanced ROI compared to traditional marketing methods. SMEs embracing digital marketing have experienced heightened brand awareness and recognition in competitive markets. Unique Contribution to Theory, Practice and Policy: Resource-Based View (RBV), Institutional Theory & Innovation Diffusion Theory may be used to anchor future studies on the impact of digital marketing adoption on firm performance: a case study of small and medium enterprises in India. Develop tailored digital marketing training programs and capacity-building initiatives aimed at enhancing the digital literacy and skills of SME owners and employees in India. Policymakers should also prioritize initiatives to improve digital connectivity and access to affordable internet services in rural and underserved areas.

The subject of the research. The study focuses on the theoretical and practical aspects of the problems facing State support for small and medium-sized enterprises in Ukraine. The purpose of the article is to identify the main destructive factors in the development of medium and small enterprises and to identify ways to overcome them. The methodological basis of the article is general scientific and special methods of scientific knowledge, such as dialectical method, analysis, grouping of data, problem-oriented approach. Results of work. The article discusses the special role of medium- and small-scale enterprises in generating GDP, creating jobs and improving the demographic situation. It is noted that a significant proportion of enterprises either operate in the shadow sector or do not take measures to improve profitability. It has been hypothesized that an important reason for this state of affairs is imperfect state support for small and medium-sized enterprises. First of all, there is a heavy tax burden, low wages in the sector, unstable legislation. The worldwide coronavirus pandemic has also been noted as an additional challenge, with most small and medium-sized businesses on the verge of survival through quarantine activities. The field of application of results. The materials, results and conclusions of the article may be used in the activities of various public organizations and local self-government bodies as an analytical basis for appeals about the need for State support for small and medium-sized enterprises, Training of specialists in secondary and higher education. Conclusions. Small and medium-sized businesses are the driving force behind the economy. It provides a large share of GDP, promotes the development of the middle class and has a positive impact on demographic indicators. The opportunity and ability of small and medium-sized enterprises to develop, even under difficult political and economic conditions, proves that it is these entities that support the economy in difficult times. Creating an enabling environment for doing business and developing small and medium-sized enterprises should therefore be a priority for the Government. To this end, support programs must be put in place: infotrmation, financial security and social support. Active and targeted support for the development of small and medium-sized enterprises contributes to the growth of GDP and the creation of new jobs.

Purpose. The purpose of the article is to reveal the prospects for the development of small agricultural enterprises in view of the transformation processes taking place in the context of land market formation. Methodology of research. Theoretical and methodological basis of the study were legislative and other regulations, scientific works of domestic and foreign scientists on issues related to the functioning of the land market and the development of small enterprises in the agricultural sector. The following general scientific and special methods were used to achieve this goal: abstract and logical method in the formation of theoretical generalizations, assumptions, conclusions; analysis and synthesis in assessing the development of small agricultural entrepreneurship and the functioning of the land market; comparative analysis to compare economic indicators in time and space; graphic method with a visual reflection of the dynamics and structural changes in the distribution of land by ownership. Findings. The research is devoted to a topical issue concerning the prospects for the development of small agricultural enterprises in the context of land market formation. The article pays special attention to aspects of land reform implementation The social and economic preconditions of transformation of the structure of the land fund by forms of ownership are considered. The main restraining factors of agricultural land market development are highlighted. Measures of state support of small agricultural enterprises in the process of land purchase are revealed. The level of efficiency of the land market since its launch is shown. The main positive aspects and problems related to the formation of the land market are presented. The foreign experience of the influence of the land market functioning on the development of small agricultural enterprises is studied. Originality. The substantiation of the dependence of the development of small agrarian entrepreneurship on the level of development of the land market is deepened. Practical value. The implementation of the developed proposals will allow to intensify the development of small agricultural enterprises in the conditions of the land market functioning. It is established that with the support of the state, small agricultural enterprises will receive obvious advantages of development. Key words: small agrarian enterprise, land market, land, land relations, region, land reform.

In the XXI century, one of the most valuable resources of any organization is human capital. The effectiveness of the organization and the use of other resources depend on the formation quality and the use of the human capital. Today, many factors affect small and medium scale enterprises that lead to their rapid bankruptcy and liquidation, significant staff turnover, and reduced productivity. Under these conditions, attracting and retaining highly qualified personnel as the primary determinant of economic development and growth of small and medium scale enterprises is significantly relevant. Minimizing the negative impact of external and internal factors made by small and medium scale businesses requires recognition of the value of the human resources in improving the enterprise’s competitiveness and the effective management tools implementation. The study identifies the main factors influencing the implementation of human resource management practices in small and medium scale enterprises in Kwara, Nigeria. Methodological tools of this study are methods of analysis and synthesis, comparative and regression analysis. The study covers 200 small and medium scale enterprises in the Kwara Central Senatorial District and registered in the National Association of Small and Medium Enterprises (NASME). The factors influencing the use of human resources by small and medium scale enterprises in the article are studied in the following logical sequence: using a structured questionnaire developed in the form of the Rensis Likert scale, an array of primary data is forme. The hypothesis (at the level of 5% of weight) regarding the relationship between the efficiency indicators and human resources management policy is tested using multiple regression analysis with statistical software STATA 11.0. The results of the survey are analyzed, summarized, and interpreted using descriptive statistical methods. The results of multiple regression analyses confirm a statistically significant relationship between the analyzed indicators (p = 0.000 and R2 = 0.8128). The study shows a significant impact of financial security of the organization (β = 0.76; t = 8.63; p) and its size (β = 0.46; t = 4.66; p) on the implementation of personnel management practices on the example of small and medium scale enterprises in Kwara). The study results confirm that the small and medium scale enterprises in Kwara actively use personnel management under the influence of environmental factors. The study empirically confirms and theoretically proves the feasibility to consider such variables as the funding availability, the size of the firm, and the type of ownership in the business management process. Keywords: Human Resources, Human Capital Theory, Management, Nigeria, Small and Medium Scale Enterprises.

Micro, small and medium enterprises (MSMEs) are significant contributors to the country’s growth and development. With the immense contribution to the Indian economy, the sector is undergoing a severe credit crunch. Mainly, formal credit is a pressing challenge for MSMEs across the nation. The article examines the inter-regional variations in the determinants of formal credit access to the MSMEs in India. The 73rd round (2015–2016) of the National Sample Survey Organization (NSSO) on Unincorporated Non-agricultural Enterprises has been used for the analysis. The study executed a descriptive analysis to assess the credit distribution and applied a logit model to determine the predictors of access to formal credit in each region. Results from descriptive analysis highlight significant regional differences in accessing formal credit in India. The Southern region has more access to formal credit than the other regions. The Northeast, Central and North regions are laggard in accessing formal credit. Besides, the study highlights that the determinant factors at the n ational level are uneven across the regions. Based on the evidence, it emphasises the government to re-examine its measures and implement the regional-specific programmes to create a conducive environment for the MSMEs in accessing formal credit.

Innovation capacity and innovation development in small enterprises. A comparison between the manufacturing and service sectors

This paper describes the evolution, dynamics and challenges of SMEs in Zambia’s informal economy. It also investigates the various government initiatives towards the promotion and development of Small-Scale Enterprises and their associated challenges. Additionally, it focuses on how entrepreneurs find ‘room to maneuver’ despite the challenges that they face while operating in the informal economy. The paper employed desk review methodology involving a review of secondary data which was qualitatively analysed. Situated within the Informalisation approach, the paper reveals that the process of informality in urban areas in Zambia was mainly driven by the implementation of Structural Adjustment Policies (SAPs) in the early 1990s. Thus, the changing political, economic and social arrangements following the implementation of SAPs with their associated effects such as increased poverty, destitution and reduced formal sector employment led to the growth of SMEs and the urban informal economy as people sought other sources of livelihoods. The paper also shows that informal SMEs in Zambia are heterogeneous, dealing with the production of goods and services whose prime objective is employment creation and the generation of income to individuals concerned. Though diverse, economic activities of SMEs are mainly distributed around the traditional economic sectors that rely on the use of low technology and social networks; whose orientation is towards the local and less prosperous segments of the market. Some of the challenges that SMEs in Zambia face include; financial, market and infrastructure constraints. Furthermore, SMEs also lack access to information; adequate management, entrepreneurial and technical skills. As a result, there have been government policy related efforts attempting to assist Small-Scale Enterprises such as through the Small Industries Development Act, The Commercial, Trade and Industrial Policy, Small Enterprises Development Act, and the Micro, Small and Medium Enterprise Development Policy. These aim(ed) at providing infrastructure, business development support services, training, capacity building through entrepreneurship development and access to finance, markets among others. However, government efforts have been hampered by challenges that include among them; corruption, lack of coordination, poor targeting, funding instability, lack of implementation systems and political interference. Despite inadequacies in government efforts, Small-Scale Enterprises have continued to function through the use of other means such as relying on social networks, collective means through local associations and cooperation as well as through the establishment of informal networks with politicians.

The article deals with issues related to the mechanization of methods existing in Russian practice that allow assessing the level of influence on favorable conditions for the development of small innovative enterprises based on military institutions, and a new comprehensive indicator, which, when creating this database, is a general index of innovation. Based on two factors illustrating only opportunities for development and favorable conditions, and the true results of this activity, methods are proposed for predicting the importance of each element in terms of its impact on the level of innovative development, and, based on this, innovators are usually offered approaches to assigning weight modules to factors used in various methods of calculating the indicator. In the conditions of the current financial crisis, the reason for the success of small enterprises is the impact of their new development system and getting more opportunities for their functioning, to ensure a high level of planning of production processes in small companies. The author examines the Pleiades Correlation Graphs, which is formed based on the method of compiling a list of conditions that affect the development of small enterprises for small businesses based on military companies, to see how small enterprises are in transition. Thus, a methodology for the influence of favorable conditions on the development of small innovative enterprises based on military institutions is proposed, the choice of factors and the principle of assigning weight coefficients for them are substantiated, and a variant of the development of this methodology is shown. Further research is needed to obtain a more complete picture of the relationship between enabling environments and the development of small innovative enterprises based in military institutions.

Research On Credit Guarantee Problems In Small And Micro Enterprises’ Credit Financing

Though the percentage occupied by small scale enterprises is high in the industrial composition of Japan, health supervision of workers engaged in small scale enterprises is far more retarded than that in large scale enterprises. It is necessary to ascertain how retarded the health supervision actually is in order to introduce improvements in environmental sanitation and health supervision of workers engaged in these small scale enterprises. The author conducted a survey on four types of industries by scale, that is bolts and nuts manufacturing industry, garment sewing industry, plastic processing industry, and bread and confectionary industry. It was found that the smaller tha scale the higher the percentage occupied by family members, minor workers, and old aged workers and that there was an increase in small scale enterprises not to provide a weekly rest day to workers. Workers in most of these enterprises work 10∼12 hours per day with a smaller percentage of workers covered by the social security scheme than those of larger enterprises. Environmental sanitation of many of these small scale enterprises is poor and only 13% of such enterprises provide medical examination for tuberculosis with little effort in the way of other health matters. little utilization is made of community medical institutions except for emergency care. Though there were evident signs of collaboration among small scale enterprises, collaboration with regard to health matters was hardly noted in these enterprises. Only 9% of the small scale enterprises were sub-contractors of large scale enterprises while larger percentage of them were sub-contractors of small and medium scale enterprises. None of the small scale enterprises was found to provide a health supervision program.

From the results of interviews and preliminary observations that the development of Small and Medium Enterprises is essentially a shared responsibility between the government and society. In order to support the empowerment and development of Micro, Small and Medium Enterprises, especially in encouraging the distribution of credit to Micro, Small and Medium Enterprises in Cibaduyut Urban Village, for the development of Micro, Small and Medium Enterprises in Cibaduyut Village, Bandung, the strategies included in the first Bank Partner Financial Consultants in fostering and mentoring Micro Small Enterprises and Medium prospects who apply for business loans; second, socializing profit sharing or venture capital financing; third Increasing the participation of credit guarantee institutions for Micro, Small and Medium Enterprises and prospects who are faced with collateral requirements. It is expected that with the implementation of the above strategies, Micro, Small and Medium Enterprises will no longer experience difficulties in the submission of business capital loans from Credit Distribution Agencies. From each solution above, it is building and mentoring Micro and Small and Medium Enterprises, prospects who will apply for business loans. The results of the study showed that the community in the Cibaduyut Village with the optimization of the role of the Bank Partner Financial Consultant (KKMB), the requirements and procedures established by the credit channeling institutions, were no longer an obstacle for Micro and Small Businesses in obtaining business capital loans. The success of this approach will be seen from the increasing number of bankable Micro, Small and Medium Enterprises and obtaining business capital loans, and having a Bank Partner Financial Consultant (KKMB) operating on a business (mutually beneficial) basis so that it can finance itself.