Development Of Small And Medium Enterprises Research Articles

Innovation and Digital Transformation in the Business Environment: A Case Study on Analyzing the Impact on Organizational Performance in a CAD Company

Abstract This article makes an exploratory attempt to study the impact of implementing a computer-aided design (CAD) system on a Romanian company. The firm has been established in 1998 and it is based on Baia Mare (Maramures), Romania. It is the commercial administrator of the CAD/CAM Technology Support Center. This center was a project initiated within the Maramureş Center for the Development of Small and Medium Enterprises (SMEs), and it received funding from the PHARE FIDEL program, an European Funded program that supported at that time the development of SMEs). Using a multifaced approach encompassing semi-structural interviews and financial analysis data, the results show integration of innovative CAD technologies yields substantial gains for operational efficiency. For instance, most of the KPIs associated with production have improved: the time required to complete one cycle of production has decreased by 15%, from an average of 20 hours to 17 hours per unit and the efficient use of materials has increased by 10% resulting in cost savings. This research shows how Romanian companies can adopt CAD technologies and improve their activities.

Conceptualizing Digital Readiness, Strategic Foresight, and Strategic Flexibility as Drivers of Digitalization and Performance of Small and Medium Enterprises

The drivers of digitalization and small and medium enterprises (SMEs) performance have been primarily examined through resource-based theories. Hence, this study presents an alternative perspective based on such organizations' readiness and dynamic capabilities through a conceptual framework. A conceptual framework is developed by drawing upon the digital readiness theory (DRT) along with the dynamic capabilities view (DCV) to propose an integrated framework that posits a set of propositions linking constructs that reflect both digital readiness as well as the dynamic capabilities of an organization as possible drivers of business process digitalization (BPD) and performance. The empirical literature based on the DRT suggests that digital readiness will likely drive BPD and performance. Whereas leveraging the premise of the DCV indicates that the ability to sense opportunities and threats is reflected by strategic foresight. In contrast, the ability to seize and transform is reflected through strategic flexibility. The propositions posit that all three factors influence performance directly and through the mediating effect of BPD. The framework developed in this study may provide clues to practitioners and policymakers related to SME development regarding potential drivers of digitalization and performance. Growing scholarly publications on antecedents of digitalization and the performance of SMEs have focused primarily on resources. The current study offers an alternate perspective by integrating the two theories based on such organizations' readiness and dynamic capabilities.

Exploring Small and Medium Enterprises Access to Finance: A Bibliometric Analysis

This study conducts a bibliometric investigation into the access of small and medium enterprises (SMEs) to finance. Access to finance significantly impacts SME success and growth, yet understanding this intricate matter still needs to be completed. Bibliometric analysis aims to uncover significant trends, research gaps, and influential contributors. The methodology involves extensively searching and assessing scholarly articles, journals, and publications related to SMEs' finance access. A systematic approach identifies relevant studies, extracts bibliographic data, and analyzes citation patterns, co-authorship networks, and thematic clusters. This detailed process maps the research landscape's structure, showcasing trends and new research areas. Results of the bibliometric analysis provide vital insights dominant themes like alternative financing methods, government policies, financial inclusion initiatives, and entrepreneurial finance. Influential authors, institutions, and journals contributing to SMEs' finance access knowledge are also identified. This research offers a comprehensive understanding of existing knowledge and addresses critical research gaps. Analyzing scholarly literature provides valuable insights for researchers, policymakers, and practitioners. Identified gaps and emerging areas guide future research, shaping agendas and prompting further investigations. Furthermore, the bibliometric analysis encourages interdisciplinary collaboration and knowledge exchange among scholars and practitioners. Identifying key authors and institutions supports collaborations and knowledge sharing. Ultimately, this research aims to aid evidence-based decision-making and policy formulation for improved SME finance access. By understanding the research's current state, identifying gaps, and noting emerging trends, this study strives to enhance SME growth and development by fostering a better understanding of finance access challenges and possibilities.

BOOSTING SMALL BUSINESS AND ENTERPRISE CREATION AND DEVELOPMENT IN UZBEKISTAN

This paper aims to investigate strategies for enhancing the creation and development of Small and Medium Enterprises (SMEs) in Uzbekistan. SMEs play a vital role in fostering economic growth, generating employment opportunities, and promoting innovation. Despite their potential contributions, SMEs in Uzbekistan face numerous challenges that hinder their establishment and growth. This study seeks to identify these challengesand propose effective measures to overcome them, thereby fostering a conducive environment for SME development. Through a comprehensive analysis of the current state of SMEs in Uzbekistan and an exploration of successful strategies employed in other countries, this paper provides valuable insights and recommendations for policymakers, government officials, entrepreneurs, and other stakeholders interested in promoting SME growth and entrepreneurship in Uzbekistan.

DEVELOPMENT POLICIES OF THE MICRO, SMALL, AND MEDIUM ENTERPRISES (SMEs) FOR IMPROVING REGIONAL COMPETITIVENESS

This study explores the importance of developing Micro, Small and Medium Enterprises (SMEs) and the creative economy, as well as their position as the main drivers of economic growth. Focusing on North Kayong District, West Kalimantan, Indonesia, this research highlights the resilience and innovation demonstrated by SMEs in overcoming challenges. Government initiatives target the mitigation of barriers, with an emphasis on developing local superior products to increase regional competitiveness. The main objective is to utilize local potential to create sustainable opportunities for economic expansion and poverty alleviation. Qualitative research methods, through observation, focus group discussions (FGD), and questionnaires, as well as data analysis techniques including difference tests and SWOT analysis. The research results show that there are significant differences between government policies and the expectations of SMEs, while the results of the SWOT analysis show that SMEs have strengths to be developed such as the availability of local raw materials and market uptake, but have challenges such as limited access to funding, infrastructure, training and promotion. product. The position of SMEs is in quadrant two, the most appropriate diversification strategy, including product, market and place diversification. Government mitigation to support the development of SMEs, through policies developing road and transportation infrastructure to facilitate access to products and markets, providing markets for sales of superior products, training facilities for SMEs. The impact on local communities is as a provider of raw materials, developing SMEs and the creative economy, as well as increasing the economy and regional competitiveness.

TRAJECTORY OF SME DEVELOPMENT: A CRITICAL ANALYSIS AND PROSPECTIVE INSIGHT INTO DIVERSIFICATION PROGRESS IN NIGERIA

The pivotal role of small and medium enterprises (SMEs) in fostering economic diversification has been widely acknowledged as crucial for achieving inclusive growth and development. Recognising this, the Nigerian government has outlined the Strategic Roadmap and Action Plan (SRAP 2021–2024), aligning with the National Digital Economy Policy and Strategy (NDEPS) and the National Development Plan (NDP), 2021–2025. This initiative seeks to establish an ecosystem for innovation-driven enterprises (IDE) and empower SMEs to embrace emerging technologies, a crucial aspect of technological catching-up in developing economies. This paper utilised qualitative research approach to critically analysed the perspective of SMEs development and its role in advancing economic diversification in Nigeria, an emerging economy within Sub-Saharan Africa (SSA), particularly in the context of technological catching-up. However, the introduction of policies such as SRAP has shown promise in encouraging SMEs to leverage technology for enhanced innovation, providing a pathway for these enterprises to catch up technologically in the broader context of developing economies. Additionally, our paper identifies infrastructure deficits as a critical factor impeding SME development, contributing significantly to the country's low ranking on the global Ease of Doing Business (EoDB) index. In light of these findings, we recommend a comprehensive and effective implementation of policies to boost SME performance, generate employment opportunities, and alleviate poverty, thereby contributing to technological catching-up and broader national development in the context of developing economies.

Driving Factors of Cloud Accounting Implementation in Small and Medium Enterprises (SMEs): Evidence from Indonesia

This paper attempts to identify key factors that affect Small and Medium Enterprises (SMEs) decision in implementing cloud accounting system on their business, in particular Indonesia’s Bandung region. Bandung greater area has long been recognized as among the amiable region for SME development in the economy. This research qualitatively analyzed primary data obtained through a series of in-depth interviews with SMEs key personnel regarding the opportunity of cloud-based accounting. The informants were eight key SMEs personnel selected for their relevant knowledge and experience in accounting and associated technology use. An expert-based validation was then conducted on factors that were successfully identified at coding stage. The findings indicate that there are seven decisive factors which influence SMEs decision including security, usability, human resource, time, communication, cost, and functionality. This research offers an insight regarding the implementation of cloud accounting in SMEs by filling the identified gap to the body of literature in cloud accounting and SMEs in particular developing economy.

Managing Intellectual Capital for SMEs’ Sustainable Development. A Conceptual Proposal

This article contributes to the body of literature on intellectual capital (IC) and Islamic work ethics (IWE) in small and medium enterprises (SMEs). It aims to investigate the role of socio-economic factors in promoting sustainable development (SD) and value creation. Ibn Khaldun's theory of development is employed to identify the socio-economic factors underlying IC and IWE that play a role in the sustainable development (SD) of SMEs. The findings reveal five socio-economic activities form the foundation of the proposed conceptual framework which is aligned with three fundamental streams in economics and management studies (Ibn Khaldun's development theory, IC, and IWE).

A RESEARCH AND ANALYSIS ON INFLUENCE OF INFORMATION TECHNOLOGY ON SMALL AND MEDIUM ENTERPRISES

The important aspect of Small and Medium Enterprises (SMEs) in economic development and poverty reduction cannot be overstated. The definition of SMEs is not standard. It has different meaning according to the scenario. Some authors differentiate them on the basis of capital assets on the other hand some define them on the basis on the skill and turnover. Small and medium entrepreneurs in India in business habit for longevity as they are domestic in their nature of movement but they need to counterfeit ahead only through worldwide unification even though the local institutional frame work and not rigid in encouraging the development of SMEs towards the world economy as those of other countries. Thus, the problem that is identified for this study is how the SMEs be developed to meet the challenges faced globally with the available infrastructure and utility. Information Technology is seen as the spine of the financial system. This could alsobe analysed as the aid of the economy therefore the success of an economy is entirelybased on its financial system. A broad opening in technology has been experienced in the industries and they are currently taking advantage of the innovations to provide better improved customer and more efficient services that will enhances productivity(Akimuli,1999; Ovia,2005). This study will therefore find out the role or impact which the adoption of information technology on small and medium scale industries. It will provide a basis or proposed recommendations which can be re-adjust to the threats, opportunities, features technological competition and contingencies. The adoption of information technology in industries is also attributable owing to the fact that, it is also attributable, customer satisfaction, improve operational efficiency, reduce the running cost, and reduce transaction time. This work will be used as a case study for thisresearch so as to realize its significant impact to guarantee their growth.

PENGENALAN PENGUKURAN KELAYAKAN FINANCIAL PADA UMKM PD PUTRI DI PGC JAKARTA TIMUR

The financial feasibility measurement introduction training conducted by the Community Service team had the main objective of providing assistance to PD PUTRI's Small and Medium Enterprises (SMEs) in conducting a comprehensive evaluation of the financial feasibility of their development business. The training process covered several important aspects, including investment and production cost analysis, cost of goods sold, and business feasibility criteria such as Break Even Point (BEP), Net Present Value (NPV), Payback Period (PP), Internal Rate of Return (IRR), and Profitability Index (PI). In addition, in the context of SME development, careful planning requires serious consideration regarding the addition of working capital. The allocation of working capital by SMEs is crucial in providing the technology, equipment, and facilities and infrastructure needed to run the business optimally. Financial feasibility analysis is a key instrument in assessing whether the planned business can provide adequate profits and whether it is economically viable. Within the framework of raising working capital, aspects such as capital utilization efficiency, investment strategy, and risk management are also a key focus. This training aims to equip PD PUTRI's SME team with the knowledge and skills needed to design and evaluate a development strategy based on an in-depth financial feasibility analysis. As a result of the training, PD PUTRI SMEs are expected to make more informed decisions and optimize their working capital management. In addition, it is also expected to improve business competitiveness through a better understanding of the financial factors that influence business viability and sustainability

Pro-environmental improving products Qualityin SMEs from the Visegrad Group Countries (V4)

Purpose: The aim of the article was to analyse the pro-environmental approach to products improvement by SMEs from the Visegrad Group (V4) countries. Design/methodology/approach: The research was survey. The survey research was carried out in traditional (paper) and electronic form (MS FORMS). The survey was directed at electronic industries (machinery processing) belonging to small and medium enterprises (SMEs) from V4 countries. The results presented in the article refer to sample size of 379 SMEs, obtained between March and September 2023. Results were analysed in statistical way, i.e.: ANOVA test and Mann Whitney U test by significance level equal to α = 0.05. Findings: SMEs in V4 countries have a similar approach to pro-environmental improving of products. It was shown that pro-environmental activities of SMEs from the V4 countries, the lowest consistency of assessments occurs in the following countries: Poland and Slovakia, Poland and Hungary, Slovakia and Hungary. Practical implications: The research results may contribute to more effective and coherent development activities of SMEs in the V4 countries as part of their sustainable development, and also to take appropriate actions that will be supporting qualitative and environmental products. Social implications: The results can help SME entrepreneurs improve their products to protect the natural environment. In addition, they can be the basis for the development of SMEs from the V4 countries and their unidirectional development, which includes not only improving the quality of products, but also caring for the environment. Originality/value: The originality of the research is the determination of the current pro-environmental approach to product improvement in SMEs in the V4 countries. The novelty is the provision of current data on the importance of improving pro-environmental products in SMEs from the V4 countries and their comparison between companies in the electrical machinery industry. Keywords: Visegrad Group (V4), SMEs, environment, quality, product improvement, production engineering. Category of the paper: Research paper.

An assessment on the Impact of Financial Products and Services Accessibility on SME Growth and Development in Zimbabwe

This study investigates how the access to financial products and services affect growth and development of the Small and Medium Enterprises (SMEs) in Zimbabwe. The study uses a mixed-methods approach that combines primary data collected from self-administered questionnaires targeted at SMEs owner-manager by incorporating secondary sources from monetary policy statement, World Bank financial statistics, and scholarly literature. The objective of this all-inclusive data collection approach is to present, an overall picture of the financial infrastructure for SMEs in Zimbabwe which is focused on both access to Finance and the impact of financial services on SME growth. The survey instruments were, therefore, developed to provide more nuanced feedback on the twin issues, inquiring both qualitatively and quantitatively about notions of SMEs’ involvement with financial services. The secondary data assists to present these findings within the broad economic environment; thus, a macro-level perspective of the challenges and opportunities that are facing SMEs in Zimbabwe is provided. The anticipated outcomes of the research aim at improving knowledge about of the role of financial accessibility in supporting growth and development of SMEs in a developing country. Thus, we note the lack of policies that increase the financial inclusion and ensure the SMEs as major development engines.

THE PERFORMANCE OF SMALL AND MEDIUM ENTERPRISES IN YEMEN: A CROSS-SECTIONAL STUDY

Due to the importance of the contribution of Small and Medium Enterprises (SMEs) towards development worldwide, researchers in different contexts have investigated the development of SMEs and how economic development can be driven forward by supporting the SME sector. However, when it comes to lower-income economies, literature is scant in investigating the performance and the development of the contribution of SMEs towards economic development in lower-income economies. Hence, the aim of this article is to explore the extent and status of small and medium enterprises in Yemen as a lower-income economy and how their performance varies according to their characteristics. The article adopts cross-sectional quantitative methodologies, it relies on primary data collected conveniently from 400 owners and managers of manufacturing SMEs in Yemen. Descriptive analysis is used to explore the extent of SMEs' performance, and further, variance analysis using Independent Sample t-test and One Way ANOVA in order to explore the variance in the performance according to the variance of enterprise characteristics. The findings indicated a low extent of business performance among manufacturing SMEs, where the mean score of the overall extent ranges from 4.94 to 5.06 out of 7. Further, The result of running One Way ANOVA revealed that the scope of operation, age, and position of managers, in addition to owning a share of enterprises, significantly contribute to the variance in the business performance among manufacturing SMEs (P < 0.05). These results can benefit the managers and owners of SMEs in Yemen and other similar economies by focusing on the extent of performance that their management can target. The implication of this research is summarized by discussing the performance of SMEs in lower-income economies to draw the attention of authors and scholars toward investigating the role and contribution of SMEs in economic development and welfare in lower-income economies.

Analisis Faktor-Faktor yang Mempengaruhi Praktik Akuntansi Manajemen pada Usaha Kecil dan Menengah di Kota Padang

Small and medium enterprises (SMEs) create a major contribution to the country's economic growth. The development of SMEs can be encouraged by the use of management accounting practices (MAPs) as a basis for decision making in order that their business performances become effective and efficient in achieving goals. However, a few research has been done on MAPs in SMEs in developing countries. This study aims to show what contingency factors (company size, owner participation, market competition, and information technology) affect the implementation of MAPs in the SMEs sector in one of the SMEs central cities in developing country (Indonesia). namely the city of Padang. This study employs a quantitative descriptive survey method, by distributing questionnaires. A sample of 96 respondents was determined by purposive sampling technique. The respondents of the study are owners or staff/managers of SMEs accounting/finance. Multiple regression analysis with SPSS 29 is used to analyze the data. The results of the study conclude that the level of company size, owner participation, market competition, and information technology has a positive and significant effect on the implementation of MAPs by SMEs. This research is expected to be a reference for further research in the field of management accounting and corporate governance in SMEs.

State support for small and Medium-sized businesses as the Most important factor in Political stability

the purpose of the article is to study the mechanisms and instruments of state support for small and medium enterprises (SMEs) as a factor of political stability. To do this, it is necessary to substantiate the relevance of state support for SMEs in Russia; consider strategic priorities and directions for expanding its capacity; highlight the urgent problems of the systemic strategic development of SMEs in the current market macroeconomic conditions; outline the prospects for the development of SMEs based on the construction of a matrix of predictable risks. Materials and research methods. In the course of the work, a wide range of research methods was used. The use of the legal and regulatory method makes it possible to characterize the key elements of the domestic legal field related to state regulation of SMEs. Within the framework of the statistical method, the formation of the information base necessary for the study of the current state and development trends of SMEs is carried out. On the basis of the logical method, causal relationships are built between the patterns of development of SMEs and market factors that influence it. The analytical method creates conditions for the use of verified diagnostic tools for key performance indicators of SMEs. When using the monographic method, the most important regularities and features of the development of SMEs are focused in the current macroeconomic environment.

ICT's Impact on SMEs in Zanzibar: A 360-Degree Appraisal

The integral role of Information and Communications Technology (ICT) in global socio-economic growth is universally acknowledged. Zanzibar, too, recognizes ICT's potential to foster enterprise development. This study conducts a focused analysis of the symbiotic relationship between ICT and small and medium enterprises (SMEs) in Zanzibar, encompassing ICT's significance, adoption challenges, and its impact on SMEs' growth. Employing a descriptive research design, data collection involved a structured questionnaire distributed to a random sample of 100 respondents. Analysis was conducted using the Statistical Package for Social Science (SPSS), yielding insights communicated through percentages, tables, and graphs. The findings underscore ICT's pivotal role in SME development, with a substantial proportion deriving benefits from its integration. Key variables—ICT's importance, implementation, and influence—are identified as catalysts for improved SME performance. However, challenges persist, including limited expertise, slow internet, setup costs, and security concerns, underscoring the need for refined ICT strategies. Recommendations echo the importance of continuous ICT enhancement, advocating for advanced tools to secure competitive advantages. Moreover, policy interventions by governmental bodies and private entities like the Chamber of Commerce are deemed necessary to facilitate SME education, training, and advisory services. This collective effort promises not only individual business growth but also national economic advancement.In summation, while ICT is a linchpin, factors like technology, customer care, and trust are equally vital. Governmental support for SMEs' effective ICT integration emerges as a core necessity, propelling Zanzibar's SMEs towards amplified growth within an increasingly digital landscape.

COGNITIVE BIAS ANALYSIS TERHADAP KINERJA USAHA KECIL DAN MENENGAH (UKM) DENGAN KEPUTUSAN INVESTASI SEBAGAI VARIABEL INTERVENING PADA MASA PANDEMI COVID 19

This study aims to analyze the Effect of Cognitive Bias on Company Performance with Investment Decisions as an Intervening Variable in Small and Medium Enterprises (SMEs) on Lombok Island during the Covid 19 Pandemic. The theoretical contribution of this research is expected to contribute to science and theory development behavioral finance related to investment decision making and company performance in Small and Medium Enterprises (SMEs). In addition, it is also expected that behavioral finance will become the subject of discussion in financial management courses. Furthermore, the practical contribution of this research is expected to provide input, suggestions and recommendations to the policy makers of the NTB Provincial Government in making policies related to the development of SMEs.
 This research is a quantitative approach-based research, with explanatory research as the type of research. The research population is all SMEs on the island of Lombok. The sampling technique was carried out using non-probability sampling, namely using judgment sampling, namely selecting SMEs engaged in the pottery industry and already exporting. From the existing population, there are 34 (thirty four) SMEs that can be taken as samples. Respondents in this study are the owners of each of these SMEs. The data collection technique used in this study was a questionnaire. In order to achieve the research objectives and to test the hypothesis, the data obtained will be processed as needed using the GSCA (Generalized Structured Component Analysis) statistical tool.
 The results of the study show that Cognitive Bias have a positive and significant effect on company performance. The decision to place funds for working capital does not intervene with Cognitive Bias on Company Performance in Small and Medium Enterprises (SMEs) on Lombok Island during the Covid 19 Pandemic. Most of them have high school and university education and the length of business is more than 15 (fifteen) years.

Efektifitas Digital Branding, Peningkatan Engagement Dan Promosi Terhadap Penjualan Produk UKM Melalui Media Sosial: Eksistensi UKM Kelurahan Batu Aji

Business ideas are affected not only by markets, companies and competitors, but also by changes. Everyone, even large companies, must recognise this. To maintain the "economic" aspect of society, various studies have been conducted to examine good alternative marketing strategies. This study focuses on small and medium enterprises (SMEs) because SMEs have become part of the creative economy. Therefore, the researcher encourages to examine which digital branding strategies are most widely implemented by SMEs. This study describes how to use strategies to increase engagement and patronage of products, how to make products recognised by the wider community through social media, and how to choose the most effective social media to market products, this study focuses on social media. This study uses a qualitative descriptive method, namely library research through books, journals, and relevant websites. The results of this study show that brand strategy is very important for the development of SMEs and can be more easily implemented for SMEs through digital.

Blockchain Technology and Small and Medium Enterprises Access to Finance

Small and medium enterprises (SMEs) are essential in developing the world economy. However, they face financing distress due to high information asymmetry and lack of collateral and credit. From the enterprises sustainable development perspective in the big data era, this study explores whether and how blockchain technology can alleviate the information asymmetry problems of SMEs and further improve the convenience of accessing finance. Blockchain technologys decentralized, unchangeable, and transparent natures can reduce information asymmetry between SMEs and the financing parties. SMEs become more creditable to the bank with a more transparent share of businesses operation information and financial conditions based on blockchain. At the same time, market investors can also learn more about the operation of corporate funds. Overall, this study provides new insights on how to use blockchain technology to increase SMEs development efficiency by lessening information asymmetry, reducing the cost of equity and bond financing for SMEs, and effectively reducing SMEs financing difficulties in this age of big data.

Bibliometrics Analysis of The Entrepreneurial Leadership on The Small Medium Enterprises

Current entrepreneurial leadership is crucial for Small and Medium Enterprises (SMEs) in general. Furthermore, it can be emphasized that leadership is highly necessary for business development. Leadership is defined as the ability of an individual with authority to utilize power according to their capacity as a leader, the strength, and the identity of a product to face highly dynamic business competition. Based on this foundation, the study aimed to determine the position of Entrepreneurial Leadership in SMEs within the scope of research using bibliometric techniques. The research method used was descriptive quantitative. Bibliometric analysis was conducted on the research data using bibliometric techniques. Bibliometric indicators were applied to evaluate bibliographic data, including total authors and published articles, citations, institutions, and countries participating in research development. Additionally, documentation techniques and literature studies obtained from Scopus and Google Scholar databases were utilized. The findings of this research reveal the identification of a keyword network connecting one study to another, including the most frequently used keywords as well as the least utilized keywords by researchers. In this study, "entrepreneurial leadership" is among the least commonly employed keywords in research related to innovation or SMEs development.