Small Medium Enterprises Research Articles

Work Posture Analysis in The Chips Frying Section Using Workplace Ergonomic Risk Assessment Method

U.D. Keripik Mustika is a small and medium enterprise (SME) that processes yam raw materials into special snacks in great demand for consumption and souvenirs. According to observations, the worker experienced pain complaints during frying in the shoulder area, arms, back, waist, hands, and feet. The complaint experienced by this worker was due to the worker's posture that had to stand and bend slightly with the position of the hands continuously mixing for 7 hours a day and done manually repeatedly over long periods. This is if left, then the worker will suffer musculoskeletal disorders (MSDs). The research was conducted using the WERA method (Workplace Ergonomic Risk Assessment), which explains the development of ergonomic risk assessment at the workplace to detect physical risk factors associated with musculoskeletal disorders (MSDs). The spread of the Nordic Body Map questionnaire on frying workers showed pain complaints from an unergonomic working posture. The study results were obtained from Employee 1, with a physical indicator score of 39 (Medium), and Employee 2, with a physical indicator score of 37 (Medium). Therefore, there is a need for improvement of the work facilities or the worker's posture. Based on the assessment results, the researchers suggested additional facilities for workers to design standing aids that reduce pain in the leg muscles and complaints of Musculoskeletal Disorders (MSDs).

Does oil price uncertainty affect corporate total factor productivity? Evidence from China

In the era of high-quality economic development, oil price volatility (OVX) and the total factor productivity (TFP) of corporations are pivotal issues for both policymakers and scholars. This study leverages the implied volatility of oil prices and financial data from Chinese listed industrial companies spanning 2010 to 2022 to investigate the influence of OVX on firms’ TFP and the underlying mechanisms. The findings reveal that OVX substantially dampens firms’ TFP, with corporate leverage and financialization identified as key channels through which this impact occurs. Further heterogeneity analysis indicates that the negative impact of OVX on TFP is particularly pronounced in firms operating in industries with low concentration and among small and medium-sized enterprises (SMEs). The extension analysis suggests a threshold effect in the relationship between OVX and corporate TFP, with the suppressive effect of OVX on TFP intensifying as the level of corporate financialization increases. Consequently, it is imperative for policymakers to closely monitor oil price fluctuations and implement timely strategies to mitigate the risks associated with OVX.

Does trade credit absorb adverse shocks? Evidence on SMEs in Japan

The aim of this paper is to examine whether trade credit can help absorb adverse shocks to firms. When firms encounter exogenous adverse shocks, if relaxation of terms of credit payment to suppliers can hold back the level of firms' real activities, then they do not need to reduce their purchases from suppliers. We test this hypothesis by using data of SMEs (small- and medium-sized enterprises) from two corporate surveys taken in Japan after the Global Financial Crisis and COVID-19. We find that firms with extended payment periods are still likely to reduce their purchases from suppliers that indicates trade credit does not help to absorb adverse shocks.

Five Years of Digital Services Taxes in Europe: What Have We Learned?

This article aims to assess whether digital services taxes (DSTs) have been effective in achieving their policy goals as well as identify key unresolved questions and highlight how the evidence from five years of DSTs’ existence in Europe can help in resolving them. The article analyses DSTs’ key policy goals with a particular focus on the equalization of the tax gap and creating fair taxation in the context of a tax incidence. It is based on publicly available data related to introducing five selected DSTs based on the similarity of both their design and the economic situation of the countries in which they were introduced. The collected revenue, fiscal efficiency of these taxes, and taxpayers’ reactions strongly indicate that DSTs have been passed on to small and medium-sized enterprises (SMEs) and consumers to a great extent while yielding negligible revenues that contradicts their policy goals. Due to limitations in data availability and the occurrence of two significant disruptions in the economy during the analysed period, some questions remain unanswered. Therefore, in the context of theoretical economic literature applicable to the case of DSTs, this author indicates where additional in-depth research and governmental analysis of DSTs is necessary and what the possible approaches are to obtain sufficient grounds for political decisions regarding introducing similar measures.

Implications of Monitoring and Evaluation Systems for SMEs in some Selected Metropolis in Ghana

The purpose of this research was to examine how monitoring and evaluation systems affect small and medium-sized businesses in selected Ghanaian metropolises. The research design used was explanatory. The population for this study comprised owner-managers of SMEs in Ghana captured in the GEA and the AGI databases. From these two sources, a sampling frame was created for those in the selected metropolis. This gave a total population size of 1,189. For this frame, a sample of 423 SMEs was selected comprising SMEs from the Sunyani, Accra, Kumasi, Cape Coast, and Tamale metropolitan areas. The sample size for the study was 423 SMEs. The primary data collection tool was a self-administered questionnaire. Data was collected, cleaned, and coded before being entered into statistical software programs like SPSS and Smart-PLS. For the study's key findings, it was noted that the SMEs that took part in the study had monitoring and evaluation practices in place. The third and fourth objectives showed that monitoring and evaluation systems had a significant effect on both business resilience and business sustainability, respectively. It was discovered that monitoring and evaluation systems had a large and favourable effect on business growth and the digitalisation business respectively, for objectives 5 and 6. The study recommended that managers of SMEs within the selected area improve upon their monitoring and evaluation systems. This will increase the effect it will have on their resilience, growth, sustainability and digitalisation.

Legal aspects of solid waste recycling and disposal in Kazakhstan: international standards and national regulation in the context of a circular economy

The Republic of Kazakhstan, possessing significant natural resources and a rapidly developing economy, is faced with growing volumes of municipal solid waste (MSW), which requires effective measures for their processing and disposal. The main purpose of this study is to analyze the legal aspects of solid waste management in Kazakhstan, assess the compliance of national legislation with international standards and explore the potential for integrating the principles of a circular economy. The study covers the current state of the legal regulation of solid household waste in Kazakhstan and identifies key problems. The use of methods of political and legal analysis, comparative legal approach and system analysis helps to assess how modern initiatives can contribute to improving solid waste management and maintaining environmental balance. The conclusions of the study indicate the need to improve the legislative framework of Kazakhstan for the management of solid household waste. The introduction of a new Ecological Code based on the European principles of waste management hierarchy and extended producer responsibility is an important step forward. However, further progress requires the adoption of the Law “On Waste”, which would specify the implementation of the principles of the circular economy. The importance of creating conditions for small and medium-sized businesses in the field of waste recycling and increasing environmental awareness of the population through informing and involving public organizations and the media is also emphasized.

Финансовые аспекты поддержки развития субъектов малого бизнеса в целях инновационного развития экономики

The development of the business sector is a significant factor in a stable and developing economy. This statement is based on the opportunity for small and medium-sized businesses to create new jobs, optimal management of financial resources in the current macroeconomic circumstances. In turn, a stable source of budget revenues is formed for the state through taxes and fees. The conducted studies of statistical data on the financial and economic activities of small businesses for the period from 2017 to 2013 revealed an increase in the total turnover (revenue) by 28.57 %. The study of the financial and economic activities of this sector of the economy in the regional aspect by the constituent entities of the Russian Federation revealed a significant increase in entrepreneurial activity, primarily in the Volga Federal District. The turnover (revenue) indicator increased by 2.29 billion rubles, reaching a significant volume of 6.0 billion rubles as of January 1, 2024. The main sources of financing for small businesses are their own funds, as well as borrowed (credit) resources. An important aspect of the state policy to support the financing of small businesses is the development of alternative instruments: crowdfunding platforms, venture investment, regional events to evaluate start-ups, etc. This approach is largely aimed at expanding financing, through which it is possible to more actively develop the activities of small businesses for the purpose of innovative development of the economy

Artificial Intelligence in SME financial decision-making: Tools for enhancing efficiency and profitability

Small and medium-sized enterprises (SMEs) face significant challenges in financial decision-making due to resource constraints, limited access to capital, and unpredictable cash flow. To overcome these challenges, many SMEs are turning to artificial intelligence (AI) to improve efficiency and profitability. AI, through tools like machine learning and predictive analytics, has transformed how SMEs manage their finances, offering solutions that enhance accuracy, speed, and data-driven decision-making. AI-driven accounting tools are revolutionizing routine tasks such as bookkeeping, invoicing, and expense tracking. By automating these functions, SMEs can reduce human error, save time, and allocate resources more effectively. AI’s ability to integrate real-time data ensures that financial records remain up to date, enabling more accurate cash flow forecasting. For example, AI can predict liquidity needs based on historical data, seasonal trends, and market conditions, helping SMEs maintain healthy cash flow and avoid financial shortfalls. In addition to improving efficiency, AI plays a crucial role in optimizing revenue and profitability. AI-based pricing models allow SMEs to adjust prices dynamically, responding to market demand and competitor behavior in real-time. This data-driven approach ensures that businesses maximize revenue without compromising customer satisfaction. Moreover, AI helps SMEs identify high-value customers by analyzing purchasing patterns, preferences, and behaviors. By focusing on customer segmentation and tailored marketing strategies, SMEs can boost sales and customer retention. Despite the clear benefits, AI adoption in SMEs is not without challenges. High implementation costs, limited technical expertise, and concerns over data privacy can hinder the integration of AI tools. However, scalable, cost-effective AI solutions are becoming increasingly available, making it easier for SMEs to incorporate AI into their financial processes. As AI continues to evolve, it will play an even more significant role in helping SMEs navigate financial complexities, improve decision-making, and enhance long-term profitability.

Analysis of Supply Chain Management Implementation on MSME Performance

Micro, Small, and Medium Enterprises (MSMEs) play a crucial role in both global and national economies, significantly contributing to job creation, gross domestic product (GDP), and innovation. In Indonesia, MSMEs contribute more than 60% of the GDP and provide over 97% of employment, highlighting the importance of this sector in supporting inclusive and sustainable economic growth. The objective of this study is to analyze the implementation of supply chain management on the performance of MSMEs. This research involves 97 MSMEs, which will be randomly selected as the sample. The data will be analyzed using descriptive statistical analysis and regression analysis. The results of this study show that commitment has a positive influence on supply chain performance in MSMEs, trust has a positive influence on supply chain performance in MSMEs, and information technology has a positive influence on supply chain performance in MSMEs.

Information and communication technology among MSMEs: Drivers and Barriers

There is an increasing trend of Information and Communication Technology (ICT) among micro, small, and medium enterprises (MSMEs) today. However, implementing ICT in MSMEs is still challenging due to financial and resource limitations. This study identifies and analyzes the driving and inhibiting factors affecting ICT implementation in MSMEs. Data from 175 MSMEs were analyzed using quantitative descriptive techniques in percentages and smart PLS for confirmatory factor analysis (CFA). Based on the analysis results, nine driving factors and eleven inhibiting factors for ICT adoption in MSMEs were found. Although much research has been conducted in the field of ICT, there is still a need to adjust strategies and policies that can support ICT adoption for MSMEs, especially in developing countries.

Challenges and opportunities in AI and digital transformation for SMEs: A cross-continental perspective

This study examines the impact of AI and digital transformation on Small and Medium-sized Enterprises (SMEs) across continents. As AI and digital technologies increasingly reshape global business landscapes, SMEs face unique challenges and opportunities distinct from those of larger corporations. This research systematically reviews existing literature, guided by the PRISMA framework, to identify the barriers and enablers of AI adoption in SMEs across these diverse regions. The study identifies key challenges, including limited financial resources, lack of skilled personnel, data security concerns, and organizational resistance to change. These barriers vary across continents; for instance, African SMEs often struggle with the high costs of AI implementation and lack of resources and expertise, while European SMEs face stringent regulatory challenges and a lack of infrastructure and finances. In contrast, Asian SMEs, particularly in developing countries, grapple with sustainability and sustainable regulatory and cultural barriers. However, it's important to note that the potential of AI to enhance operations and customer engagement is a universally recognized benefit. Europe emphasizes risk management and automation, while Africa and Asia highlight cost reduction, market expansion, and scalability, reflecting their unique regional priorities and challenges. The study concludes that while AI adoption presents considerable growth potential for SMEs globally, the path to realizing these opportunities is shaped by regional contexts. The research underscores the need for tailored policy interventions, capacity-building initiatives, and cross-border collaborations to support SMEs in overcoming these barriers and fully leveraging AI technologies. This work contributes to understanding digital transformation in SMEs, providing practical insights for policymakers, industry leaders, and academics interested in the intersection of AI and business strategy across different continents.

Post-project financial auditing as a continuous improvement tool for SMEs

Post-project financial auditing is a critical tool for ensuring transparency, accountability, and financial accuracy within small and medium-sized enterprises (SMEs). As SMEs navigate project-based operations, it is essential to assess the financial outcomes of completed projects to inform future decision-making and resource allocation. This review explores the role of post-project financial auditing as a continuous improvement tool in SMEs, highlighting its ability to enhance financial discipline, improve cost control, and promote long-term financial sustainability. By examining key aspects of project revenues, expenditures, and profitability, post-project financial audits provide insights into financial performance that are essential for strategic planning. These audits help identify budget deviations, resource misallocations, and cost inefficiencies, enabling SMEs to adjust future financial planning and project management practices. In doing so, audits contribute to refining budgeting processes, promoting data-driven decision-making, and reducing financial risks in subsequent projects. The review also emphasizes the benefits of post-project auditing in fostering a culture of financial responsibility within SMEs. Through the audit process, SMEs can strengthen internal controls, monitor compliance with financial regulations, and ensure that project outcomes align with organizational financial goals. Additionally, the integration of audit findings into future financial strategies enables SMEs to continuously improve their profitability, mitigate risks, and enhance overall financial stability. Despite the clear advantages, challenges such as resource constraints, data management issues, and limited audit expertise can hinder the adoption of post-project audits in SMEs. The review offers practical recommendations to address these challenges, advocating for the use of scalable audit frameworks, digital tools, and ongoing staff training to support effective auditing practices. Ultimately, post-project financial auditing represents a vital mechanism for driving continuous improvement and ensuring the financial resilience of SMEs in an increasingly competitive marketplace.

Forecasting financial stability in SMEs: A comprehensive analysis of strategic budgeting and revenue management

Small and medium-sized enterprises (SMEs) are vital contributors to global economies, but they often face unique financial challenges that threaten their long-term stability. This review presents a comprehensive analysis of forecasting financial stability in SMEs, focusing on strategic budgeting and revenue management as key pillars. Strategic budgeting plays a crucial role in aligning financial plans with business goals, managing risks, and adapting to market changes. Techniques such as zero-based budgeting, activity-based budgeting, and rolling budgets offer SMEs flexibility in allocating resources and ensuring optimal cash flow management. Meanwhile, effective revenue management involves the use of pricing strategies, sales channel diversification, and customer segmentation to optimize revenue streams and improve profitability. The interplay between strategic budgeting and revenue management is critical for creating dynamic forecasting models that help SMEs anticipate financial challenges and make informed decisions. By integrating both strategies, SMEs can better manage risks, enhance financial predictability, and achieve long-term sustainability. This review also explores the role of technological tools, such as financial software and predictive analytics, in supporting financial decision-making processes. Tools like customer relationship management (CRM) systems and AI-driven forecasting platforms enable SMEs to optimize revenue potential and refine budgetary practices. The review provides recommendations for SMEs to implement best practices in financial planning, suggesting regular budget reviews and proactive revenue management strategies to respond to market fluctuations. By leveraging strategic budgeting and revenue management, SMEs can enhance their financial resilience and improve their capacity to navigate economic uncertainties. The review concludes with insights into emerging trends in financial forecasting, emphasizing the importance of continuous adaptation to maintain financial stability.

Advancing chemical safety protocols in small and medium enterprises: A comprehensive guide

Small and Medium Enterprises (SMEs) face significant challenges in managing chemical safety, often due to limited resources, inadequate infrastructure, and a lack of awareness about regulatory requirements. As chemical safety becomes increasingly critical for protecting workers, communities, and the environment, it is essential to develop tailored safety protocols for SMEs that address their unique needs. This review presents a comprehensive guide on advancing chemical safety protocols in SMEs, focusing on risk assessment, proper storage and handling of chemicals, personal protective equipment (PPE), spill prevention, and waste management. The integration of modern technologies, such as digital risk management tools, Internet of Things (IoT) sensors, and AI-driven predictive analytics, offers SMEs cost-effective solutions to enhance chemical safety. These technologies enable real-time monitoring, early warning systems for chemical hazards, and the automation of safety audits, which can significantly reduce risks and improve compliance. Additionally, fostering a strong chemical safety culture within SMEs is vital, requiring leadership commitment, employee training, and effective hazard reporting systems. Navigating regulatory frameworks and achieving compliance with limited resources presents another key challenge for SMEs. This guide highlights practical strategies for meeting safety standards, including leveraging external resources and simplifying documentation processes. Case studies showcase successful implementations of safety protocols and technologies in various SME sectors, providing insights into best practices and lessons learned. As technological advancements continue to evolve, SMEs must stay ahead by adopting innovations such as robotics, wearable safety technologies, and digital twins for chemical safety planning. This review emphasizes that a holistic approach—combining technology, policy, and workplace culture is essential for advancing chemical safety in SMEs, ensuring long-term sustainability, and safeguarding the health and well-being of workers.

Part that social media plays in advertising MSMEs goods in Patas 1 Village, Gunung Bintang Awi District, South Barito Regency

This study discusses the role of social media in marketing products of Micro, Small, and Medium Enterprises (MSMEs) in Patas 1 Village, Gunung Bintang Awai District, South Barito Regency. MSMEs are an essential sector in the village's economy, with various businesses such as culinary, handicrafts, and traditional weapon production. Social media platforms like Facebook and WhatsApp have helped some MSME actors expand their markets and increase product sales. However, some MSMEs have yet to utilize social media due to limited knowledge fully. This study aims to evaluate the effectiveness of social media use in MSME marketing and provide appropriate strategy recommendations. The evaluation methods used were interviews and direct observation. The study's findings indicate that social media significantly expands market networks, builds consumer interactions, and increases product sales. However, challenges such as lack of creativity and competition from similar products remain. Therefore, training and socialization on social media use for MSME actors are necessary to maximize their marketing potential in the digital era

Challenges, Requirements and Strategies in Digital Business for MSMEs: A Systematic Literature Review

The current digital age is ushering in significant changes in how Micro, Small and Medium Enterprises (MSMEs) operate, particularly in competition and collaboration. This systematic literature review aims to examine the significance of Digital Business Entrepreneurs (DBEs) as drivers of collaborative value networks within Micro, Small and Medium Enterprises (MSMEs). This paper synthesizes a comprehensive understanding of the challenges, requirements, and strategies associated with DBEs in the context of MSMEs by analyzing 150 research journal articles. The research demonstrates that DBEs have emerged as a subject of considerable academic interest, eliciting various viewpoints regarding their consequences on MSMEs. The investigation encompasses various settings within MSMEs, introducing prospects and obstacles resulting from the incorporation of digital business entrepreneurs. The paper makes a valuable contribution to the literature by addressing this research gap regarding the transformative capacity of DBEs in the MSMEs sector. The literature review identifies eight strategies, nine challenges, and eight requirements for digital business entrepreneurs. These findings provide entrepreneurs and managers with actionable insights as they navigate the digital landscape. Furthermore, delineating five prospective research trends provides scholars with a strategic guide, ensuring sustained relevance in this ever-evolving domain. Practical challenges faced by administrators of MSMEs involved in digital business entrepreneurship are also emphasized, offering practical advice for making sound decisions. This extensive evaluation functions as a valuable asset for individuals involved in digital business entrepreneurship, scholars, and practitioners in the field. It promotes a nuanced understanding of digital business entrepreneurs' obstacles and prospects when operating within micro, small, and medium enterprises.

Optimasi Pemasaran UMKM di Dusun Kalirase, Trimulyo, Sleman

Dusun Kalirase is a region within Trimulyo Village, Sleman District, where the majority of residents are engaged in agriculture and plantations. Additionally, there exist several Micro, Small, and Medium Enterprises (MSMEs) - UMKM in Indonesian language - with significant potential, having yet to be optimally managed, particularly in terms of marketing. This community service initiative aims to address several major challenges faced by MSMEs in Dusun Kalirase, such as a lack of knowledge about digital marketing, non-strategic business locations, and insufficient promotional resources. Through the "Dusun Kalirase MSME Marketing Socialization: Gleaming and Accessible" program, the team conducted a series of activities, categorized in community development, including brand identity creation and design, digital marketing support via social media, and adding MSME locations to Google Maps. The results indicate increased brand awareness, product appeal, and market reach for MSMEs in Dusun Kalirase. This program successfully helped MSMEs gain greater recognition within the local community and boost product sales.

Exploring the impact of AI-driven and blockchain-enabled tax filing systems on smes in the era of technological innovation: A review of benefits, challenges, and adoption barriers

The emergence of blockchain technology and artificial intelligence (AI) presents transformative opportunities for tax compliance, especially for small and medium-sized enterprises (SMEs). These technologies promise to enhance tax system accuracy, efficiency, and transparency. However, their adoption is accompanied by significant challenges and barriers. This review analyzes the benefits, challenges, and future prospects of integrating AI and blockchain technologies into tax systems, with a focus on their impact on SMEs. It seeks to provide insights into how these technologies can reshape tax compliance and identify areas requiring further research. The review revealed that AI enhances accuracy and compliance through advanced predictive models and explainable AI, while blockchain ensures transparency and trust with its immutable ledger and smart contracts. Despite these benefits, SMEs face technical and financial constraints, such as high implementation costs and integration complexities. Regulatory and legal challenges, including evolving tax laws and data privacy requirements, further complicate adoption. Additionally, resistance to new technologies and skill gaps within SMEs hinder widespread implementation. Scalability and customization issues also pose significant barriers. In conclusion, AI and blockchain technologies substantially improve tax compliance but come with notable challenges. These technologies promise enhanced accuracy and efficiency for SMEs, yet overcoming barriers related to cost, integration, and regulation is essential for successful adoption. It was recommended that future research should focus on developing SME-specific solutions, addressing regulatory adaptations, and conducting comparative analyses of traditional versus AI-driven tax systems. By tackling these areas, stakeholders can better support SMEs in leveraging AI and blockchain technologies for more effective and transparent tax compliance.

Pengaruh Inovasi Produk, Literasi Keuangan, dan Akses Pembiayaan terhadap Pertumbuhan UMKM di Indonesia

This study investigates the impact of product innovation, financial literacy, and access to financing on the growth of Micro, Small, and Medium Enterprises (MSMEs) in Indonesia. A quantitative approach was employed, involving 180 MSME owners and managers. Data were collected through a structured questionnaire using a 5-point Likert scale, and the analysis was conducted using Structural Equation Modeling-Partial Least Squares (SEM-PLS). The results show that all three factors—product innovation, financial literacy, and access to financing—positively and significantly influence MSME growth, with product innovation having the strongest effect. These findings highlight the importance of fostering innovation, enhancing financial literacy, and improving access to financing as key strategies for promoting MSME growth. The study offers valuable insights for policymakers and business practitioners to support MSMEs' sustainability and competitiveness in emerging markets like Indonesia.

Determinants of MSMES’ credit access: Evidence from Indonesian banks

Credit is an important component in developing micro, small, and medium enterprises (MSMEs), as it can boost a country’s economy, help boost the production capacity of MSMEs, create jobs, and reduce poverty. This study aims to examine the characteristics of banks in Indonesia that influence lending to micro, small, and medium enterprises by adopting agency theory that explains the relationship between lenders (banks) and borrowers (MSMEs) as agents and principals. Data were taken from quarterly financial reports of banks in Indonesia. There are 42 sample banks from 2010 to 2022, so the data used are 2,182 observations. Data analysis uses a fixed effect model with robust standard errors. The results show that operating costs do not influence credit access for MSMEs or medium-sized enterprises. Bank stability has an impact on increasing MSME credit access. High bank capital also increases MSME credit access. Robustness tests were also conducted using the general method of moments. The results were consistent with the main model. The implication is that cost management theory and credit decision-making need to consider differences in business scale. The results also further strengthen the argument that bank stability is an important factor that can improve access to credit for small and medium enterprises. AcknowledgmentsAppreciation is given to the Doctoral program Universitas Sebelas Maret Surakarta Indonesia and the Institute of Research and Community Services (LPPM) Unisnu Jepara Indonesia, which has supported this research.