Growth Of Enterprises Research Articles

The Effects of Saccos of the Performance of Small-Scale Business in Bushenyi-Ishaka Municipality

The study focused on assessing the role of SACCOs on the growth of small-scale enterprises, in Municipality. The study sought to address all the three specific objectives of the study. The study used both qualitative and quantity research design in descriptive manner. The researcher used 48 respondents who included; 30 owners of the Small-Scale enterprises and SACCO members and 18 workers to SSEs through the use of the questionnaire and interview guide about the research questions. From the study basing on the finding of the first research question statistics reveal that 93.4% of the respondents revealed that SACCOs have significantly contributed to the increase of SSEs in Ishaka Bushenyi. It was further revealed that both the owners and workers of SSEs save part of their money as indicated in table 7 by 72.9% of the respondents. The finding on second research question revealed that revealed that SACCOs have significantly enabled SSEs owners and their workers to acquire assets like land, construct house and purchase home equipments. Lastly on the third research question, that there is interdependence between the SACCOs and SSEs declared by 90.0°o of respondents Keywords: SACCOs; Small Scale Enterprises (SSEs); Bushenyi-Ishaka Municipality; Growth; Financial Support

Impact of ESG Performance on Corporate Growth Ability——Analysis of the Empirical Results on the Basis of the Panel Data of Chinese Listed Companies from 2010–2022

With the increasing attention of society to sustainable development, ESG performance has increasingly become an important dimension in evaluating corporate performance. The importance has shifted from the display of corporate image to the measurement of business growth and long-term value. The existing research investigates the relationship between ESG performance and enterprise growth. The empirical analysis of capability is still insufficient. On the basis of a systematic review of the relevant theories and literature, this study uses a two-way fixed effects model to analyze Chinese listed companies from 2010–2022 to investigate in depth the relationship between ESG performance and corporate growth ability. The study revealed that ESG implementation inhibits enterprise growth in the short term because of increased costs, and the extent of this impact is influenced by ownership methods and regional factors. This study provides corresponding insights for relevant entities, such as enterprises and the government. It is suggested that relevant entities such as enterprises and the government should comprehensively consider long-term and short-term cost-effectiveness and adopt differentiated strategies when implementing ESG.

Product innovation and firm performance: does the technology capacity of a firm matter?

Purpose Technological innovation and development have increasingly become crucial for the survival and growth of enterprises. Although the impact of innovation on performance and the relationship between technological development and performance have been investigated, the interrelationship between the three components has been neglected. The purpose of this paper is to investigate the moderating role of technological capability in product innovation and firm performance in the context of the Vietnamese economy. Design/methodology/approach By using the Generalized Method of Moments (GMM) regression and the xtpcse regression analysis method to address data errors in the time series model, this study uses panel data from 218 listed companies on the Vietnam stock market from 2015 to 2022. Findings The findings suggest that companies innovating their products can enhance firm performance. However, companies with high technological capability may have a negative impact on firm performance and moderate the impact of product innovation on firm performance. Specifically, technological capabilities weaken the effect of product innovation on firm performance. Further analysis by dividing the sample into two groups based on high and low Return on Assets reveals that the moderating variable TECHCAP holds similar significance. Research limitations/implications This study was conducted using data from companies listed on the Vietnam stock market, which may not be fully representative of all firms in the Vietnamese economy. The second limitation comes from differences in recording and disclosing financial information related to product innovation costs specified in Vietnamese Accounting Standards compared to other countries. This leads to some difficulties in collecting data, reporting results and making objective comparisons with studies around the world. Practical implications The findings of this research provide valuable insights for managers in formulating short-term and long-term business strategies. The results also serve as a reference for potential investors in making effective investment decisions. Originality/value This study contributes to the literature by highlighting the complex relationship between technological capability, product innovation and firm performance. It offers a novel understanding of how technological capabilities can moderate the benefits of product innovation, providing a nuanced perspective for both scholars and practitioners.

Human Capital Development and Phenomena Growth in Small and Medium Scale Enterprises in Nigeria

Human capital has been recognized globally as one of the major factors that is responsible for the wealth of nations and human resource constitutes the ultimate basis of Small and Medium scale Enterprises development and wealth of Nations. Most developed Nations are rich because of the emphasis they laid on human capital development. This study investigated the impact of human capital development on the performance of small and medium-scale enterprise (SMEs) in Nigeria over the period from 2003 to 2023. The study adopted an “ex-post facto” research design, utilizing secondary data sourced from the Central Bank of Nigeria Statistical Bulletin, Bureau of Statistics, and SMEDAN reports. Autoregressive Distributed Lag (ARDL) methodology was employed for data analysis, allowing for the examination of short and long-term effects of human capital variables such as formal education, training, and participation in seminars, conferences, and workshops on SME phenomena growth indicators. stationarity test, least square multiple regression, long run and short run model estimations, model diagnostic test were carried out on observations to obtain results. The findings revealed a consistently positive and significant relationship between human capital development and SMEs phenomena growth across the study period. Specifically, higher levels of formal education, training initiatives, and participation in knowledge-sharing events are associated with enhanced business outcomes in terms of profitability, productivity, and market competitiveness for Nigerian SMEs. Least Square Multiple Regression showed that Adjusted R2- 08859 indicating that approximately 88.59% of the variance in SMEs Phenomena growth is explained by the model, suggesting a high level of explanatory power. F. statistics showed 39.80876, Prob (F-statistics) was 0.0000 indicated that the overall model is highly significant and Durbin-Watson stat was 206373.3 suggesting that there is no significant autocorrelation in the residuals of the model, the constant term (C) has a coefficient of 2.0040 and is significant with a p-value of 0.0002,indicating that it has a substantial positive impact on SMEsP when all predictors are zero. ARDL Results indicated short and long run impact of human capital development on SMEs performance in Nigeria. This study concluded that investments in human capital development play a crucial role in bolstering SME phenomena growth in Nigeria. The results underscore the importance of continuous skill enhancement and knowledge acquisition among SME operators, suggesting that such initiatives contribute not only to immediate operational improvements but also to sustain growth over time. Based on the findings, the study recommended that policymakers and business support agencies in Nigeria prioritize initiatives that promote access to formal education, vocational training programs, and participation in professional development activities like seminars and exhibitions. Facilitating easier access to these resources and enhancing their quality can empower SMEs to navigate challenges, capitalize on emerging opportunities, and contribute more robustly to Nigeria's economic development goals.

Will Digital Inclusive Finance Improve the Quality and Quantity of SMEs’ Green Innovation?

Whether SMEs can become a significant player in green innovation and reshape the green innovation landscape in China largely depends on their ability to effectively address the lack of momentum for green innovation among SMEs. Utilizing data from China’s SMEs listed on the growth enterprise market between 2011 and 2022, this study empirically examines the effects and underlying mechanisms of digital financial inclusion on green innovation in SMEs, considering both the financial market supply and corporate financing constraints. The results indicate that digital inclusive finance significantly enhances both the quantity and quality of green innovation in SMEs. Moreover, digital financial inclusion particularly improves the quality and quantity of green innovation in SMEs with strong ESG performance and high equity concentration, compared to those with weaker ESG performance and lower equity concentration. Heterogeneity analysis reveals that digital inclusive finance can improve the quality and quantity of state-owned enterprises and enterprises in the eastern region. Still, it has no significant impact on the quantity of green innovation for enterprises in the central and western regions. Regarding the impact mechanism, digital inclusive finance encourages SMEs to engage proactively in green innovation by mitigating financing constraints and increasing R&D investments. The findings of this paper not only reveal how SMEs can overcome the restrictive mechanisms of green innovation through digital inclusive finance, but also provide critical insights for improving the imbalance in the structure of green innovation within China.

Study on the influence of preferential tax policies on the financial performance of small and medium-sized ceramic enterprises in Jingdezhen

In recent years, small and medium-sized enterprises (SMEs) have played a vital role in the rapid development of China's economy, significantly contributing to economic growth, employment, and innovative development. In response to the financial challenges faced by SMEs, the government has implemented a series of preferential tax policies aimed at promoting their development. Jingdezhen, a city renowned for its historical significance in the ceramic industry, prioritizes the growth of small and medium-sized ceramic enterprises. However, the impact of these preferential tax policies on the financial performance of small and medium-sized ceramic enterprises in Jingdezhen remains to be explored. This paper addresses this critical issue by analyzing the influence and mechanisms through which preferential tax policies affect the financially healthy development strategies of Jingdezhen's ceramics sector. Grounded in demand management theory, tax incentive theory, and the optimal tax system, this research employs statistical analysis to examine the implementation of tax preferential policies for SMEs. It finds that tax reductions in Jingdezhen have significantly decreased operating costs for enterprises, fostered innovation in research and development, optimized the business environment, and contributed to stable growth in the scale of market participants.This study identifies several issues in the process of municipal tax reduction and fee reduction in Jingdezhen, including the need for further optimization of tax reduction and fee reduction policies, inadequate implementation by tax authorities, and insufficient understanding of these policies among taxpayers. To address these challenges, this paper proposes enhancements to the overarching design of tax reduction and fee reduction policies, aims to elevate the legal framework governing tax incentives, and advocates for a coherent and continuous policy system. Furthermore, it emphasizes the importance of synchronizing the implementation of tax reduction and fee reduction policies, improving the information management and collection processes, establishing a new collection and management framework, strengthening policy outreach, and optimizing tax service delivery.

Islamic Banking Financing Growth of Small and Medium Enterprises (SMEs) In Zaria, Kaduna State Nigeria

The study aimed to examine the relationship between Islamic banking and the growth of Small and Medium Enterprises in Zaria, Kaduna State. Nigeria. Specific Objectives were to determine the relationship between Islamic banking and profitability; to examine the relationship between Islamic banking and market share; and to find out the relationship between Islamic banks and return on investment of Small and Medium Enterprises in Zaria, Kaduna State, Nigeria. The study adopted correlational and cross-sectional research designs. The study used primary data collection through the use of questionnaires. Questionnaires, both structured and unstructured were designed with snares to check validity and reliability, a sample size of 217 respondents given a study population of 500 respondents was selected using Krejcie and Morgan table. Findings reflected that there was a strong positive relationship between Islamic banking and profitability by a correlation coefficient(r) of 0.871 which is statistically significant since the p-value (0.000) < 0.01. Findings revealed that there is a moderate positive relationship between Islamic banking and profitability as this was evidenced by a correlation coefficient(r) of 0.525 which is statistically significant since the p-value (0.000) < 0.01. The study concluded that there is a significant positive relationship between, there is a significant positive relationship between Islamic banks and the return on investment of Small and Medium Enterprises in Zaria, Kaduna State, Nigeria, and there is a significant positive relationship between Islamic banks and the return on investment of Small and Medium Enterprises in Zaria, Kaduna State, Nigeria. The study recommended; that the relationship between Islamic banks and Small and Medium Enterprises growth should be studied in another important town in Nigeria. There should be aggressive marketing of Islamic bank products to reach out to the populace beyond the business owners. Islamic should organize regular meetings with business owners to educate them on risk-taking that can hinder their growth. Keywords: Islamic Banking, Small and Medium Enterprises (SMEs), Profitability, Return on Investment (ROI), Zaria, Kaduna State

The Impact of Environmental Regulation on the Growth of Small and Micro Enterprises: Insights from China

Small and micro enterprises (SMEs) make important contributions to economic development, innovation, and employment in every country. The increasingly strict environmental regulations have become a global trend, but the empirical literature that evaluates the impacts of environmental regulations on the SMEs’ growth based on their observational data is extremely rare. This study aims to investigate how city-level environmental regulations in China affect the SMEs’ growth, with a focus on identifying lag effects, heterogeneous impacts across regions/enterprise types, and the mediating roles of technological innovation and policy support, using unbalanced panel data from 2007 to 2016. Using a dynamic panel model and entropy-weighted assessment, the results show the following: (1) Stricter environmental regulations significantly impede SMEs’ growth, with this effect persisting for up to two years. Robustness tests confirm the stability of these findings. (2) Despite the overall negative impact, our analysis reveals that environmental regulations can stimulate SMEs’ growth by promoting technological innovation and increasing policy support. (3) Heterogeneity analysis shows that the regulatory effects vary by region, ownership structure, and tax status, with the most adverse impacts observed in private firms, small-scale taxpayers, and businesses outside the Yangtze River Economic Belt. These findings highlight the need for differentiated regulatory approaches to balance environmental objectives with SMEs’ growth. The study is limited by its focus on data from 2007 to 2016, not considering recent policy shifts, and may have limited generalizability to economies with decentralized environmental governance.

Electronic payment system and the growth of small and medium scale enterprises in Nigeria

Electronic payment system does not mean a total elimination of cash, but financial environment that minimizes the use of physical cash by providing alternative channel for making payment. The objectives of this study include; to identify the challenges those have hindered the adoption of e-payment system by small and medium scale enterprises, to investigate if e-payment system in any way enhanced the growth on small and medium scale business enterprises and finally to determine whether the Small and Medium Scale Enterprises in Idah Federal Constituency of Kogi State, Nigeria possess the requisite facilities and skill for e-payment transactions. The survey was carried out through the administration of questionnaire on owners and operators of small and medium scale businesses in the study area to ascertain whether the small and medium scale enterprises have started utilizing electronic based payment in their day to-day payments and business activities through Point of Sale Terminals (POS). GSM, Mobile Banking, and Automated Teller Machine (ATM) card. Descriptive statistic and t-test method of analysis are used to test the hypothesis. From the result of the study, it was revealed that e-payment system significantly increases growth of SMEs in Idah federal constituency. This signifies that an efficient and modern payment system positively correlated with economic development and it is a key enabler to economic growth. Keywords: Electronic Payment, Growth, SMEs, Nigeria.

Poverty alleviation for coastal communities through tourism development: a case study of Kulon Progo Regency

ABSTRACT This study examines the impact of tourism development on the welfare and poverty alleviation of communities in Kulon Progo Regency, a coastal region located in the southern part of Java, Indonesia. Poverty reduction is the primary objective of the 17 targets outlined in the Sustainable Development Goals (SDGs). By harnessing the potential of natural tourism and local culture, tourism development is anticipated to be an effective tool for boosting community income through the growth of Micro, Small, and Medium Enterprises (MSMEs). The research employs both qualitative and quantitative methods, including in-depth interviews, participatory observation, and surveys with tourism managers and MSME actors at Glagah Beach and Congot Beach. The findings indicate that tourism has a significant role in increasing income and creating new employment opportunities for coastal communities. However, challenges persist, such as limited access to financial institutions and technology, as well as inequalities in the distribution of economic benefits. Additionally, government support in the form of training and financial assistance remains uneven and requires further enhancement. This study underscores the need for a more inclusive and sustainable approach to tourism development, one that involves all stakeholders to ensure equitable distribution of economic benefits. The recommendations include improving access to financial services and technology, strengthening MSME training programs, and upgrading supporting infrastructure in tourist areas. These findings offer valuable insights for the formulation of more effective policies aimed at poverty alleviation and economic empowerment for coastal communities in Kulon Progo.

Would workers value a few more hours of work? Technological progress and time-related underemployment among Chinese workers

ABSTRACT The manifestation of insufficient labour demand has shifted from unemployment to underemployment. However, few studies have examined the impact of robotic technology on underemployment, particularly in terms of working hours rather than the unemployment rate. To address this gap, this paper first refines the calculation method proposed by Acemoglu and Restrepo (2019b) and remeasures the level of robot adoption across cities in China. The empirical relationship between robotic technology and underemployment is examined by matching this data with individual-level data from the China Labor Dynamics Survey. The study finds that robotic technology can effectively alleviate time-related underemployment, with a more pronounced effect in national innovation pilot cities. Mechanism analysis reveals that robotic technology enhances labour market opportunities by stimulating secondary innovations and attracting new firms while improving job matching quality by guiding workers in their job search and transitions, thereby alleviating underemployment. The study suggests that leveraging fiscal policy to support the growth of new enterprises or R&D innovations, eliminating barriers to labour mobility, and improving lifelong vocational training systems can help unlock the technological dividend and achieve high-quality full employment sooner.

Entrepreneurial and Market Orientations Effects in Mexican Small Business Performance

Abstract The entrepreneurial orientation and market orientation are present in the current management literature not only as two essential strategic orientations for the growth and development of enterprises but also as two variables that have a close relation with business performance. Therefore, when organizations, especially small and medium size ones, line up the entrepreneurial orientation and market orientation with their goals and aims, there is a higher probability of getting a high level of business performance. Thus, this empirical research attempts to identify the existing relation between entrepreneurial orientation and market orientation as well as their relationship with business performance by using a sample of 316 small and medium size enterprises in Aguascalientes State (Mexico). The results obtained show, on one hand, the close link between entrepreneurial orientation and market orientation and, on the other hand, that both entrepreneurial orientation and market orientation have a significant and positive influence in business performance. JEL classification numbers: M31. Keywords: Entrepreneurial orientation, Market orientation, Business performance, SMEs.

Examining the Role of Household on Entrepreneurial Development in Rural India: A Resource-Based Approach

Drawing on the previous research on context and family involvement in entrepreneurial growth, this study examines the impact of households on the creation and growth of a rural enterprise. We aim to investigate how household strategies affect the development of new enterprise, how household dynamics influence enterprise growth strategy decisions, and how household manage and create business portfolios. To address these questions, we conducted comparative case studies utilising information from four business households situated in rural areas of Uttarakhand. In all four cases, a thematic interview approach was employed to explore consistent themes, such as business operations, household requirements, motivations for initiating and running a business, and community interactions. The findings illustrate how household contribute to the development and growth of rural enterprise, how these business change over time, the collaborative efforts of families in business venture and how they build and expand their business activities. The study identified three main themes: the close connection between household and business; how family and kinship act as valuable resources in enterprise growth; and how households effectively manage risk and uncertainty through entrepreneurial bricolage. These results highlight the role of households and household strategy in shaping enterprise growth, in contrast to earlier studies that focused on individual aspirations and business strategy. By focusing on farm family businesses and the resource-based view, this study offers valuable insights into the strategies employed by agripreneurial households to manage and leverage their resources effectively.

Стратегія інноваційного розвитку підприємств харчової промисловості в умовах посилення ризиків (на прикладі хлібопекарської промисловості)

Increasing the competitiveness of food industry enterprises is possible only if innovative activities are intensified. In the conditions of an unstable economy, changing market environment, and global crises and risks that arise, food producers face important tasks of improving product quality, assortment, financial independence, and enterprise competitiveness. The solution to these issues largely depends on implementing innovations and developing an innovative development strategy. The purpose of the publication is to study theoretical and methodological approaches to the formation of the essence of innovative development, to identify the features of a strategy for the innovative development of business structures, and to minimize risks to ensure the sustainable growth of food industry enterprises, using the baking industry as an example. Results. The article examines issues related to the innovative principles of the development of the baking industry and the methodology for developing a strategy for sustainable development of food industry enterprises using the example of the baking industry in the context of modern risks. The essence of the concept of “innovative development” is determined, it is substantiated that the transition to innovative development means the formation of an appropriate strategy of actions, and the essential content and methodological approaches to the strategy for innovative development of enterprises are investigated. The functioning of Ukraine’s baking industry, one of the leading branches of the food industry, is assessed. Key risks for the baking industry at the current stage are identified. The basic principles that ensure the effectiveness and sustainability of the innovative development strategy in modern economic conditions are studied, and key areas for implementing the strategy are identified. Conclusions. The baking industry plays a key role in Ukraine’s food industry, providing the population with essential products and contributing to the development of the economy. The material and technical base must be updated to ensure the baking industry’s stable development, introduce modern technologies, and adapt to changes in consumer preferences. Keywords: food industry, baking industry, risk, innovative development strategy, competitiveness of enterprises.

GROWTH-HACKING ЯК ІНСТРУМЕНТ ЗАБЕЗПЕЧЕННЯ МОДЕЛІ РОЗВИТКУІННОВАЦІЙНОГО МАРКЕТИНГУ ПРОМИСЛОВОГО ПІДПРИЄМСТВА

This article explores the concept of Growth Hacking as an advanced marketing methodology designed to accelerate business growth in industrial enterprises by leveraging digital technologies, experimental testing, behavioral analytics, and automation tools. In the era of rapid digital transformation and economic uncertainty, traditional marketing approaches are becoming less effective, necessitating the adoption of more adaptive and technology-driven strategies. Growth Hacking, originally popularized in the technology startup ecosystem, has now evolved into a strategic tool for optimizing marketing processes, improving customer engagement, and enhancing business scalability in various industries, including manufacturing, aviation, and energy sectors. The study identifies key Growth Hacking elements, including data-driven decision-making, customer segmentation, UX optimization, gamification, viral marketing techniques, A/B testing, and the integration of artificial intelligence for automated personalization. Special emphasis is placed on the behavioral economics aspects that influence consumer decision-making, enabling businesses to fine-tune their marketing strategies by leveraging cognitive biases, social proof, scarcity effects, and emotional triggers. Through an in-depth analysis of successful case studies, this paper examines how global industry leaders like Netflix and Dropbox have implemented Growth Hacking strategies to gain a competitive edge. Netflix has utilized advanced AI algorithms, content recommendation engines, and behavioral targeting to increase user retention and drive engagement. Dropbox, on the other hand, successfully applied referral-based growth models and frictionless onboarding techniques to rapidly expand its user base while minimizing customer acquisition costs. Building on these insights, the article presents a conceptual model for implementing Growth Hacking within strategic marketing management for industrial enterprises. This model integrates digital tools, consumer behavior analysis, and agile methodologies to optimize business operations and ensure sustainable growth. The research findings suggest that Growth Hacking can significantly enhance the competitiveness of industrial enterprises by reducing marketing expenses, increasing return on investment (ROI), and strengthening long-term customer relationships. Furthermore, the study emphasizes the role of Growth Hacking as a key driver for economic recovery in the post-war period, particularly for Ukrainian enterprises seeking innovative approaches to market expansion and industrial revitalization. In conclusion, this paper highlights the transformative potential of Growth Hacking for industrial enterprises, showcasing its ability to bridge the gap between traditional marketing strategies and digital-first growth models. The study provides practical recommendations for integrating Growth Hacking principles into strategic decision-making processes, ensuring that industrial firms can navigate market uncertainties, capitalize on emerging opportunities, and achieve sustainable competitive advantages in the global business environment.

Підтримка соціального підприємництва на державному рівні

The article explores the current state of social entrepreneurship in Ukraine and analyzes effective mechanisms of state support for this sector. Emphasis is placed on the formation of a favorable legal environment, particularly the development of a legislative framework that provides a clear definition of social entrepreneurship and establishes criteria for receiving state support. Tax incentives are examined as a means of reducing the financial burden on social enterprises, including reduced corporate tax rates, exemption from value-added tax (VAT), and the introduction of tax holidays for newly established enterprises. The significance of financial support, such as grants, subsidies, and preferential loans, is substantiated as essential tools for providing resources for the creation and scaling of social projects. The importance of educational initiatives is highlighted to enhance the competencies of entrepreneurs, as well as informational support to raise public awareness about the benefits and opportunities of social entrepreneurship. The study underscores the critical role of state policy in addressing existing challenges, such as the lack of a unified legislative definition, limited access to financing, low societal awareness, and insufficient educational initiatives. Recommendations are proposed for adapting international best practices to foster the development of social entrepreneurship in Ukraine. The analysis also emphasizes the potential of financial mechanisms, such as grants aimed at supporting specific social initiatives, subsidies to offset operational costs, and low-interest loans designed to facilitate enterprise growth. Drawing on international experiences from countries like the United Kingdom, Germany, Canada, France, and South Korea, the article demonstrates the effectiveness of integrated approaches to supporting social entrepreneurship. The adaptation of these practices to the Ukrainian context, considering its economic, legal, and cultural specificities, is identified as a key step towards creating a supportive ecosystem for social enterprises. Such measures are expected to enhance the sector’s capacity to address pressing social challenges, promote economic sustainability, and foster social cohesion in Ukraine. Keywords: social entrepreneurship, state support, legislative framework, tax incentives, grants, subsidies, financial mechanisms, international best practices, Ukraine.

Strategic Competency and Growth of Aquaculture-Based Small Enterprises in Kenya

Purpose: This study evaluated the role of strategic competency on growth of aquaculture based small enterprises in Kenya. Methodology: The study adopted descriptive research design using mixed methods approach. The target population was 600 fish farmers in Nyeri County, Kenya. The study utilized purposive sampling to select fish farmers within Nyeri County, then cluster sampling to identify fish farmers in their various sub-counties. Simple random sampling was then utilized to select respondents for the study. A self-administered questionnaire was used to collect data from the respondents. A pilot study was conducted to test validity and reliability of the questionnaire. Data analysis was done using Statistical package for Social Scientists (SPSS). Regression analysis and chi-square were used to test for significant associations between the dependent and independent variables. The findings were presented in frequency tables, pie charts, bar graphs and scatter diagrams in the final report. Findings: The findings indicated a positive statistically significant relationship on strategic competency and its effect on growth. Further, regression analysis of the results established that strategic competency was found to account for 5.8% of the variation in the growth of aquaculture-based small enterprises in Kenya. 94.2% of variation in the growth of aquaculture based small enterprises in Kenya is explained by other factors outside the model. Unique Contribution to Theory, Practice and Policy: Based on the study findings, the sector should sustain government and NGO support by subsidizing input costs, promoting cottage industries, and employing trained extension officers. In addition, the management should facilitate knowledge sharing through farmer excursions and disseminate information on region-specific fish farming techniques. Lastly, it should develop public-private partnerships to coordinate markets and reduce post-harvest losses through a demand-driven approach.

The Impact of Microfinance Institutions on the Growth of Umkm: a Case Study of Baitul Maal Wa Tamwil (BMT) at Al-Amin Mosque, Deli Serdang

This study aims to analyze the impact of Baitul Maal wa Tamwil (BMT) at Al-Amin Mosque, Deli Serdang, on the growth of Micro, Small, and Medium Enterprises (MSMEs). Using a mixed-method approach through quantitative surveys and qualitative interviews, this study examines changes in indicators of turnover, business assets, workforce, and profitability of MSMEs before and after receiving financing from BMT. The results of the study indicate that BMT financing services have a positive impact on MSME growth. Average turnover increased by 60%, business assets increased, and 40% of respondents were able to employ additional workers. In addition, business profitability also increased significantly. However, this study also found several obstacles, such as low financial management capabilities and limited market access. This indicates the need to strengthen technology-based service innovation and coaching programs to support the sustainability of MSMEs. This study concludes that BMTs play a strategic role in empowering the local economy through sharia-based microfinance services. The results of this study provide recommendations for the development of similar MFIs to support MSME growth more effectively and inclusively.

Commitment Competency and Growth of Aquaculture-Based Small Enterprises in Kenya

Purpose: This study evaluated the influence of commitment competency on growth of small enterprises in Kenya. Methodology: The study adopted descriptive research design using mixed methods approach. The target population was 600 fish farmers in Nyeri County, Kenya. The study utilized purposive sampling to select fish farmers within Nyeri County, then cluster sampling to identify fish farmers in their various sub-counties. Simple random sampling was then utilized to select respondents for the study. A self-administered questionnaire was used to collect data from the respondents. A pilot study was conducted to test validity and reliability of the questionnaire. Data analysis was done using Statistical package for Social Scientists (SPSS). Regression analysis and chi-square were used to test for significant associations between the dependent and independent variables. The findings were presented in frequency tables, pie charts, bar graphs and scatter diagrams in the final report. Findings: The findings indicated that commitment competency and growth had weak inverse linear statistical relationship. The study concluded that fish farmers are already aware of the many hurdles involved in fish farming but they remain resilient in doing what it takes to achieve the goals set for their fish farms. It is not the lack of commitment on their part that contributes to the stagnating or declining of their businesses. Instead, other challenges such as lack of crucial inputs such as reliable and quality feeds, quality fingerlings, adequate water, lack of business management knowledge, lack of market accessibility and capital contribute to the dismal performance of their businesses. Unique Contribution to Theory, Practice and Policy: The government and NGOs should provide subsidized inputs and promote cottage industries to enhance aquaculture value chains. In addition, extension officers should be equipped with resources like water testing kits, and water harvesting should be encouraged in water-scarce areas.

Operation Research — The Influence of Venture Capital on the Growth of E-Commerce Listed Enterprises

Venture capital (VC) is essential for the growth of small and medium enterprises (SMEs) in developed e-commerce countries. SMEs play a crucial role in the economic development of both developing and developed countries. This paper proposes the influence of VC on the growth of e-commerce in SMEs using the propensity score matching (PSM) method. PSM is defined as the statistical analysis of observational data, where a statistical matching method attempts to evaluate the impacts of a treatment or policy. The experimental results show that the effect of e-commerce on SMEs who received VC financing experience improves the performance of employment growth and sales. Our findings reveal that VC significantly enhances employment rates and sales performance in e-commerce sectors. The study underscores the critical role of VC in driving innovation and growth within SMEs, providing valuable insights for investors and policymakers aiming to foster economic development.