Business Economic Development Research Articles

Strengthening Institutional Social-Economic Institutions Through Bumdes in Pagerharjo Village, Samigaluh District, Kulonprogo Regency

Potential in the area, including institutions, people, and natural resources, should be handled, one of which is BUMDES. BUMDES is an organization that was entrenched based on the needs and possibilities of the village and is run by the community and village government to boost the rural economy. The performance of BUMDES must considerably enhance the welfare of the populace. Under BUMDES's work system, all commercial and community economic activities are facilitated in a professionally managed institution or corporate organization. As a consequence, community companies are successful and fruitful, enabling the best possible management of all village economic endeavors. The purpose of this study is to ascertain the methods used by the Pagerharjo Village, Samigaluh Regency, and the Government to fortify village institutions (BUMDES). The research employs a qualitative descriptive methodology, with findings that highlight the significance of generalization. In an attempt to fully realize the village's potential, BUMDES Binangun Pagerharjo Village has developed into an organization that is capable of boosting the local economy through the establishment of social services, economic business development, and BUMDES institutional strengthening initiatives. BUMDES Pagerharjo can create jobs, boost local revenue, and bolster the local economy by empowering the people and opening up business options.

Role of Small Business in Economic Development: A Quantitative Investigation

Small businesses have always been seen as essential to economic growth. Small enterprises have been crucial in recent years in promoting economic growth and opening up job opportunities. Despite the difficulties, small businesses have persisted in displaying resilience and adaptability, helping the local and global economies recover. As these account for a sizable portion of job creation, innovation, and entrepreneurial activity, these play a significant role in the growth of the economy. Many individuals can find work, especially in rural and low-income areas, and these frequently act as a driver of regional economic development. However, small businesses encounter many obstacles in the efforts to support economic growth, such as restricted access to capital, regulatory limitations, and competition from bigger businesses. Therefore, by fostering an environment that is enabling the growth and development, policymakers and stakeholders must assist small businesses. This can be accomplished through facilitating access to capital, streamlining regulatory procedures, and encouraging entrepreneurship-related education and training.

Economic Growth Behind the Board Post Pandemic (Literature Study Analysis)

Introduction: Population growth in Indonesia is getting higher. This change is influenced by population density. Economic growth in the behind-the-board area is still volatile; this can be addressed by planning for human resource development and managing business fields in several regional sectors. The purpose of this study is to analyze the economy of Balikpapan in 2022. Method: This study uses a qualitative literature study method. Through data collection from journals and other literature supporting media. Result: The study results indicate that the economy behind the board area needs to develop a strategy to adjust the existing potential by increasing the balance of human resources as management staff. It is based on the performance achievements of local companies by collaborating in the international market sector. The achievement of business economic development through increasing MSMEs in several areas behind the board is an effort to improve the creative economy. Conclusion: The market shift has created a new attribute among the business, tourism and micro and macroeconomic sectors. The development aspect supports regional progress in economic growth with the high capacity of the population in Indonesia, especially behind the board. The creative economy has become a significant change from the existence of the Indonesian youth creative economy movement.

ИДЕНТИФИКАЦИЯ И ХАРАКТЕРИСТИКА СУБЪЕКТОВ МАЛОГО И СРЕДНЕГО ПРЕДПРИНИМАТЕЛЬСТВА НА СЕЛЬСКИХ ТЕРРИТОРИЯХ РОССИИ

One of the areas of public administration is a targeted and efficient use of budgetary funds allocated to support the population, businesses and infrastructure of the territories. It requires constant updating of the characteristics of the object of managerial influence and receiving feedback. Without accurate identification of the target management object, knowledge of its properties, as well as development trends, high-quality management is impossible. Currently, Russia is implementing state programs for the development of rural areas and the development of agriculture (“Comprehensive development of rural areas”, “Development of agriculture and regulation of markets in agricultural products, raw materials and foodstuffs”). In scientific works, the role of small business in economic development, in rural development as well as in ensuring food security is universally recognized. However, management bodies, business analysts, researchers do not have information about how small and medium-sized enterprises (SME)s are developing in rural areas of Russia. This work is one of the first to raise issues of identification of SMEs in rural areas. Based on the developed methodology, rural SMEs were identified from available open sources by category, their characteristics were given in terms of the dynamics of the number, density of businesses, sectoral and regional structure, and their support in the form of subsidies and grants was analyzed. State support failed to stabilize their number, which decreased from 2019 to 2021. Agriculture is not a leader in the sectoral structure of SMEs (in terms of the number of businesses), occupying a significant third place after trade and transport. However, it is this industry that accounts for the main support. The total share of trade, transport, agriculture in all regions is at least 40% of the total number of rural SMEs. Thus, support for these industries will have a beneficial effect on the development of most small businesses in rural areas.

Role of tourism and hospitality business in economic development

Tourism is critical in creating goodwill among people and, as a result, socioeconomic growth in the country. Tourism as an industry contributes significantly to the country's foreign exchange reserves and provides direct and indirect job possibilities to a broad segment of the population. Furthermore, supporting a nation's handicrafts and fine arts aids in the preservation of nature's beauty, cultural legacy of the country, and soil tradition, as well as strengthening the process of national integration and global brotherhood. For analytical purposes, it is important to distinguish between different forms of tourism. For example, tourism is often divided into two main categories: international tourism and domestic tourism, which is determined by the tourist's permanent residence's territorial limit. There is no minimum duration of travel required to qualify as a tour, and the important component is the movement away from the permanent residence to the destination or locations that are not in the same region. This article discusses the importance of tourism and the hospitality industry in economic growth.

SUPPORT FOR SMALL AND MEDIUM BUSINESS IN THE NETHERLANDS

Introduction. The Netherlands is the world's leading economic power. This fact is expressed in gross domestic product, “Doing business” indicators, competitiveness ratings. With a high market economy, the lion's share of which is occupied by small and medium enterprises. Institutions operating within the general monetary mechanism are played one of the most important roles. With this in mind, it should be noted that Standard & Poor's credit rating service has given the Netherlands the highest level on its scale – “AAA”. All this is the reason for studying the support system of small and medium-sized businesses in this country, including financing and refinancing. Methods. The following general and special methods are used to achieve this goal: induction and deduction to draw conclusions about the state of development of small and medium-sized businesses in the Netherlands; logical for consistent generalization of theoretical and practical provisions; methods of statistical analysis for the analysis of basic indicators of small and medium business in the Netherlands; methods of synthesis and systematization in the formation of proposals to increase the development of small and medium-sized businesses in Ukraine. Results. The article examines the role of small and medium business in economic development, support for small and medium business in the Netherlands. The main factors influencing the development of small and medium-sized businesses in the Netherlands are revealed, as well as the main principles that guide the government's authorized structures in matters of small and medium-sized business support policy. The conditions of banking institutions in the framework of real sector financing and support of the Central Bank are analysed. Discussion. The development of an integrated approach to the support of the real sector according to European models is substantiated. Incentives for the development of the real sector in Ukraine are proposed.

Evaluasi Pengembangan Usaha Ekonomi Produktif di Desa Sebangau Mulya Sekitar Kawasan Taman Nasional Sebangau

Taman Nasional Sebagau (TNS) or Sebangau National Park has been now striving to provide optimal benefits for the community surrounding its area through productive economic business development program, as it did in one buffer village, namely Sebangau Mulya. This program aims to improve community welfare, and as a form of community involvement in preserving the TNS area. However, the success of the program remains questionable. This study aims, first, to examine the development of productive economic business programs in Sebangau Mulya Village. Second, to analyze the effect of such program on the welfare of villagers. The research sample was 40 villagers who received direct assistance from the program. This figure account for 10% of the villagers. Descriptive analysis and multiple linear regression were used to study the relationship of 7 independent variables, namely facilitators (X1), institutions (X2), human resources capacity (X3), skills and knowledge of human resources (X4), type of productive economic assistance (X5), counseling and training (X6) and supervision (X7) with 1 dependent variable, i.e. community welfare. The results show that the program has been providing positive benefits, marked by the increase of cattle and goats number, compared to those provided by TNS management five years before. In addition, the program has been successfully tying villagers and TNS management in maintaining and managing the area according to the planned agenda. The factors that partially influence the beneficiaries welfare is skills and knowledge (X4), which is amounting to 26.80%. Since the community in carrying out productive economic businesses is in accordance with their skills and knowledge so that they are able to develop ideal businesses with the environmental conditions of Sebangau Mulya Village. Other six factors have no significant effect on villagers’ welfare.

Understanding on Leadership of Community Empowerment and Village of Good Governance of The Village Business

This study aims to understanding the good governance based on perspective of Head of Community and Village Empowerment Agency (DPMD). Informants in this research are the Head of Division, Section Head, and community economic business development staff who can represent the research unit in the understanding of good governance in DPMD Jombang Regency. The study was conducted with in-depth interviews with the help of a questionnaire. Data analysis using descriptive qualitative. The results of this study indicate that the Village-Owned Enterprises (BUMDes) are professionally managed, the BUMDes management has the capacity, is able to compile a master plan, understand business, governance refers to guidelines for establishing BUMDes based on Permendes and has Standard Operating Procedures (SOP). BUMDes is managed separately from the village government and there is not much interference from the village government, without being influenced by the pressures of other parties' policies, and can carry out their duties proportionally and can be accounted for. The principles of BUMDES governance include transparency, accountability, responsibility, independence, participation, effective and efficient, and sustainable.

Limited liability partnerships: A business model to achieve entrepreneurial efficiency

The Limited Liability Partnerships (LLP) is a relatively new model of business organisation. The present research has been carried out to provide empirical-based handful information to the small-scale entrepreneurs and policymakers about the impact of the adoption of the LLP model and how it can be used as a strategy to make the venture successful. For this study sample data analysed to determine the correlation between the choice of business organisation and output level of firms by taking capital and labour as independent variables. Since LLP is considered more entrepreneurial friendly to small and medium-sized firms, entrepreneurial expertise to utilize capital and labour before and after the adoption of the LLP form has been specifically investigated. This Existing research supports the economic theory of limited liability and probability to choose limited liability while the present study is focused on determining the efficiency, if any, achieved by adoption of limited liability model by the small business firms. By using the Cobb-Douglas model, the article analyses the efficiency derived from the adoption of a limited liability model. The empirical results show that entrepreneurs have gained achieved efficiency through the adoption of LLP model. The entrepreneurs under the LLP model can pool and efficiently utilize capital as compared to labour employed. Thus for entrepreneurial growth and economic development business organisation models like LLP should be encouraged and must be adopted as a business strategy to minimize risk exposure.

La innovación comercial como factor de influencia en las potencialidades de la provincia del Carchi

La visión tradicional sobre el desarrollo económico, se ha enmarcado, generalmente, en la atracción y disponibilidad de recursos financieros. Si bien, es importante esta consideración desde una óptica de desarrollo, no es suficiente para garantizar dicho desarrollo económico. El destino de los recursos económicos hacia la actividad productiva, depende de factores como la capacidad de introducir nuevas tecnologías, nuevos métodos de gestión, innovadoras acciones sociales e institucionales, como, también, la conformación de redes productivas y de desarrollo. Desde esta perspectiva global, el objetivo de la investigación, consistió en analizar la visión del desarrollo económico local, desde el criterio de los diferentes actores sociales de la Provincia del Carchi (Ecuador). Para esto, se acogió una metodología con enfoque mixto (cualitativo y cuantitativo); se utilizó como técnica de recopilación, un cuestionario diseñado con información bibliográfica. La muestra se escogió a conveniencia, conformada con 12 empresarios, 12 comerciantes, 6 inversionistas, 12 emprendedores y 6 personas de gremios. Algunos resultados se presentan en diversas correlaciones, a fin de identificar las iniciativas de desarrollo económico comercial y empresarial, de innovación tecnológica y de recursos humanos. Como conclusión relevante se tiene que lo importante de la evolución comercial de la zona de estudio, es la capacidad emprendedora de los microempresarios y la relación con los procesos de innovación empresarial, lo que permite la formación de capacidades, habilidades de gestión comercial, administrativa y productiva.

Estrategias financieras para incrementar la rentabilidad. Caso: Empresa Indema Perú S.A.C

El objetivo de la investigación fue proponer la implementación de estrategias financieras para incrementar la rentabilidad de la empresa Indema Perú S.A.C. Las principales causas del estancamiento en el desarrollo económico empresarial están constituidas por el elevado costo de ventas y la falta de control en los gastos que afectan de manera directa a la utilidad, reflejándose en los respectivos índices. La investigación fue de enfoque mixto, método analítico e inductivo, en la recopilación de datos se aplicó la guía de entrevista a tres unidades informantes que fueron el gerente general, la contadora y el jefe de finanzas, también se aplicó la ficha de análisis documental, los datos se triangularon con el software Atlas. Ti. Los resultados evidenciaron que la rentabilidad sobre los activos disminuyó año tras año, para el año 2016 la empresa tuvo un rendimiento de 0.86% sobre la inversión, en el 2017, generó pérdidas; sin embargo, para el año 2018, obtuvo un 0.08% de rendimiento sobre la inversión. Los factores que influyen de manera directa en la rentabilidad es el alto costo de ventas, que en el 2018 representó un 85% del nivel de ventas y se espera reducir al 70% en los próximos 5 años; los gastos operativos representan el 12%, el cual hace que la utilidad sea escasa. Por lo tanto, se plantean las siguientes estrategias: a) Incrementar las ventas, b) Reducción de los costos de venta, c) Incrementar la liquidez.

Place Matters: Small Business Financial Health in Urban Communities

While many researchers have observed overall heterogeneity in the small business sector, existing data sources provide limited information about community-level differences in small business financial outcomes. In this report, we use de-identified transaction data from business deposit accounts to identify small business financial outcomes in ZIP codes across 25 U.S. metropolitan areas. While the majority of small businesses were profitable, many had limited cash liquidity. Moreover, community-level differences in small business profitability and cash liquidity were persistent from 2013 to 2017. We also found that small business cash liquidity and profitability were correlated with other community-level indicators. Small businesses held more cash and were more profitable in communities with higher home values, higher shares of college-graduates, and smaller shares of non-White residents. Finally, we found that larger high-tech and other professional services firms were less prevalent in communities where small businesses had limited profitability or cash liquidity. These community-level differences suggest that place-based small business economic development programs may contribute to broad-based economic growth, that policies that address household financial wealth and education might also benefit small businesses, that programs could be targeted to the needs of small businesses most prevalent in majority Black and Hispanic communities, and that both high-tech and lower-tech firms can serve as anchor institutions in supporting community economic development.

Kontribusi Dana Desa dalam Pembangunan Badan Usaha Milik Desa Di Desa Hanura, Kabupaten Pesawaran, Provinsi Lampung

One of the government's efforts to accelerate development in disadvantaged, deepest and outermost regions is through the Village Fund Policy. One of the obligations after the issuance of Law No. 6 of 2014 is the implementation of BUMDes (Village-Owned Enterprises). The study aims to analyze the contribution of Village Funds in the development of BUMDes in Hanura Village, Teluk Pandan District, Pesawaran District, Lampung Province. The study used a qualitative descriptive approach. Data collection was carried out through in-depth interviews with village officials and managers of BUMDes and field observations. The results of this study indicate that village funds in Hanura Village have contributed to the development of BUMDes. In 2018 the Hanura Village Government budgeted costs for the Procurement of Infrastructure Production Activities for Agriculture / livestock / fisheries production of Rp. 12,265,000.00. Then the Budget for Procurement of Marketing Infrastructure Activities (Shop and Cooperative Development) is Rp. 104,700,000.00, and the Community Economic Business Development and Establishment Activities (for other Capital Equipment and Machine Expenditures and animal and livestock capital expenditures) of Rp. 39,999,997.00. The business units owned by BUMDes Conscience include: 1) Market Management, 2) Product and Service Units, 3) Home Industry. One of the BUMDes marketing strategies is through online sales through the BUMDes website.

Challenges Faced by Women Entrepreneurs in Small and Medium Enterprises in Swaziland

Although contemporary economies take women entrepreneurship seriously, the uptake of entrepreneurship activities by women remains low in Swaziland; the involvement of women-run businesses in economic development is minimal. Using a quantitative research methodology which involved the filling in of objective questionnaires by female entrepreneurs, the study sought to establish the challenges faced by women entrepreneurs in Swaziland, identify contributing factors to these challenges and consider the roles played by different stakeholders in promoting women entrepreneurship. The study revealed that most women who are actively engaged in business are aged between 30 to 49. Because of the power of education, these women believe that they are capable of running successful businesses. However, some women feel that they are weak and marginalized. All the study participants have less than 10 years of experience in business. There is inadequate Government support and most of the women lack knowledge about where they could get support. Despite having legislation that supports women’s participation in economic development and the business interests of women, women remain underrepresented in national economic activities. Significant challenges faced by women in business in Swaziland are related to cultural factors, funding and lack of information. More research based strategies are required to create awareness of the business opportunities available for women entrepreneurs in Swaziland. The study concluded that women entrepreneurism is fairly new in Swaziland hence there is need for further research on the women entrepreneurism and how it benefits different stakeholders. Gender justice based socio-cultural reorientation in Swaziland could give more women the opportunity to explore their potential in business without fear of victimization and marginalization.

Small Business Perspectives on the Role of Rural Libraries in Economic Development

AbstractPeople living in the Appalachian region, including its rural areas, face challenging economic, social, and cultural conditions with limited financial opportunities, information poverty and unemployment, and low levels of information literacy and educational attainment. The roles played by rural public libraries in small business economic development in this region require exploratory study of representative small businesses to refocus library services and resources on their information needs and information-seeking experiences. This article proposes a user- and use-based model to represent the information context and perspectives of such businesses in the state of Tennessee as a case study in order to apply the lessons and insights to other parts of the United States. It concludes with suggestions for the blueprint design of a public library small business tool kit, an ideal resource that Tennessee’s rural public libraries can develop for small businesses in the future.

Information Science Professionals as Community Action Researchers to Further the Role of Rural Public Libraries in Small Business Economic Development: A Case Study of Tennessee

This paper briefly discusses the involvement of information science professionals as community action researchers in a planning grant entitled “The Role of Rural Public Libraries in Small Business Economic Development in the Appalachian Region: A Case Study of Tennessee” awarded by the Institute of Museum and Library Services’ National Leadership Grants for Libraries to the School of Information Sciences at the University of Tennessee. Cet article discute brièvement l'implication des professionnels des sciences de l’information en tant que chercheurs en action communautaire dans une subvention de planification intitulée «Le rôle des bibliothèques publiques rurales dans le développement économique des petites entreprises de la région des Appalaches : une étude de cas du Tennessee », décernée par les subventions au leadership national pour les bibliothèques de l'Institut du Musée et de la Bibliothèque attribuées à l'école des sciences de l'information de l'Université du Tennessee.

Business-government relationship in economic development

Purpose In the process of fostering economic development, many governments, especially those of a small economy, such as Singapore, Taiwan, and Hong Kong, had taken a leading role in managing their economies, in spite of the free-market rhetoric that some of them have made. The purpose of this paper is to examine the reasons and the effects of government involvement in the economy. Design/methodology/approach In this paper, the causes and effects of cooperation and conflict between government and business in economic development are examined from a theoretical perspective, particularly with references made to East Asian economies. Findings Government interventions lead inevitably to both cooperation and conflict with the private sector. Practical implications The strategies for dealing with problems arisen from such relationship are also examined. Originality/value This paper links the theories and concepts from a variety of sources to offer a coherent picture of business-government relationship that is helpful for examining other studies on this topic from a broad perspective.

Value Creation Drivers in Large Leveraged Buyouts

This work employs the most complete data sample of large private equity backed transactions in Germany ranging from 1997 to 2008. This research casts light on the impact of the holding period, the effects of divesting activities and expectations about the future shape of the economy on the performance of deals. A longer holding period is associated with a lower internal rate of return, and, contrary to expectations, this study finds a return diminishing effect of selling subsidiaries of target companies. In addition, I apply a new measure of business expectation: ifo slope. Ifo slope incorporates the theory of the interest term structure as a business economic development indicator. Positive expectations at entry lead to higher returns in the future and periods of economic downturn are stretching the length of the investment dramatically. Finally, larger deals are financed more aggressively with debt and generate more value by multiple expansion than smaller deals.

The Role of Small Business in Economic Development of the United States: From the End of the Korean War (1953) to the Present

A government can use its financial strength to acquire goods and services, while at the same time watering many sources to improve the health, welfare, and security of its population. Economic development has been evasive to a significant section of the U.S. and federal programs have attempted to remedy the disparity (ies). We contend that small business is an engine of economic growth and job creation; and that not tapping it delays rather promotes growth. While providing a brief history of federal economic development programs, we argue that small business was not given a chance to act as multiplier, and that if the U.S. is to continue to grow, small businesses must be part of the mantle to lead it to the next level; otherwise, the past is prologue.

The Role of Small and Large Businesses in Economic Development

Increasingly, economic development experts are abandoning traditional approaches to economic development that rely on recruiting large enterprises with tax breaks, financial incentives, and other inducements. Instead, they are relying on building businesses from the ground up and supporting the growth of existing enterprises. This paper explores whether promoting entrepreneurship and small businesses makes sense as an economic development strategy. It concludes that it probably does, but with some caveats. Small businesses are potent job creators, but so are large businesses. The attribution of the bulk of net job creation to small businesses arises largely from relatively large job losses at large firms, not to especially robust job creation by small firms. More important, data show that, on average, large businesses offer better jobs than small businesses, both in terms of compensation and stability. Further, there is little convincing evidence to suggest that small businesses have an edge over larger businesses in innovation. More research is needed to properly evaluate the case for a small business strategy, and indeed, to determine whether or not public engagement in economic development itself is a cost-effective and worthwhile pursuit.