Enterprise Sector Research Articles

Turning the State-Owned Enterprises from a Burden into an Opportunity for Economic Development

The sector of state-owned enterprises (SOEs)1 in the Republic of Moldova is plagued by the problem of weak governance, both at the state level (regulations and policies) and at the company level. As a result, the financial and operational performance of SOEs over the last years has been in continuous decline. However, state-owned enterprises can be transformed from a burden for Moldova’s economic development into a source of opportunities and tools that could generate a number of important economic reforms. The results of the given research demonstrate that state-owned enterprises have the potential to serve as important channels for attracting private investment, boost capital market development, develop and promote new financial instruments, strengthen state security and fortify strategic infrastructure.

СУЧАСНІ ПІДХОДИ ОЦІНКИ ДО ОЦІНЮВАННЯ ЕФЕКТИВНОСТІ ДИВЕРСИФІКАЦІЇ БІЗНЕС-ПРОЦЕСІВ В НЕСТАБІЛЬНИХ ЕКОНОМІЧНИХ УМОВАХ

The study is aimed at highlighting modern methods of assessing the effectiveness of business process diversification, taking into account unstable economic conditions. The following methods were used to solve the tasks: the dialectical method of scientific knowledge, the method of analysis and synthesis; the method of comparison, description and generalisation. As a result of the study, approaches to assessing the effectiveness of business process diversification strategies, including marketing, strategic, financial and risk approaches, were clarified and systematised. Particular attention is paid to the financial approach, which allows to qualitatively and quantitatively assess the effectiveness of diversification strategies, taking into account various aspects of their implementation. It is also determined that the successful implementation of busi ness process diversification can have a positive impact on the economic, technological and resource aspects of an enterprise, ensuring increased profitability, introduction of innovative technologies and efficient use of resources in the context of European integration. It has been found that the use of different approaches to assessing the effectiveness of diversification allows to comprehensively consider its impact on the enterprise and determine the prospects for its development. The results of the study can be applied in the management of strategic decisions of enterprises in various sectors of the economy, such as: business economics, finance, management, administration. In the context of economic instability, it is important to use a variety of approaches to assess the effectiveness of business process diversification, which will allow enterprises to adapt to changes and ensure sustainability in development. Such an integrated approach will help to increase competitiveness and successfully function in an unpredictable market environment.

Internationalisation of Network Enterprises from the SME Sector in Poland in 2019-2022 with a Focus on the Łódź Voivodeship

Abstract The aim of this article is to discuss the problem of internationalisation of small and mediumsized enterprises sector organisations in Poland in the years 2019-2022 with a particular focus on the Łódź Voivodeship (9th position from the point of view of entrepreneurship in the regions of Poland). The first part of the article provides the theoretical background of internationalisation of enterprises. The second part contains an analysis of empirical data on the basis of author’s own research and determinants of company growth relating to the internationalisation of the small and medium-sized enterprises sector in Poland in the years 2019-2022 with a particular focus on the Łódź Voivodeship. The main research hypothesis in the article is that the majority of enterprises in the small and medium-sized enterprises sector in the Łódź Voivodeship conduct international activities, although the geographic range of the (international) activities of both transport-shipment-logistics companies and companies from the production and service industry (outside the transport-shipment-logisitcs industry), does not translate into a high share products/services ordered on the international market to the total quantity of products/services ordered by these companies. The article was written on the basis of the literature on the subject, survey results and reports of the Polish Agency for Enterprise Development and documents of the Marshal's Office of the Łódź Voivodeship.

Enhancing the circular economy business model towards sustainable business performance: Moderating the role of environmental dynamism

Enhancing the emphasis on incorporating sustainable practices reinforces a linear transition towards a circular economy by organizations. Nevertheless, although studies on circular economy demonstrate an increasing trend, the drivers that support circular economy practices towards sustainable business performance in the Small and Medium-Sized Enterprise (SME) sector, especially in developing nations, demand exploration. Accordingly, the study examines circular economy drivers, i.e., green human resource management, in establishing sustainability performance and environmental dynamism as moderating variables. The study engaged 207 SMEs and 621 respondents who were analyzed utilizing structural equation modeling. The analysis indicated that sustainable business performance was affected by green human resource management and a circular economy. Subsequently, the circular economy mediated the linkage between green human resources management and sustainable business performance. The environmental dynamism moderated the linkage between green human resources management and the circular economy.

Analysis of Labor Absorption in Small and Medium Enterprises in East Java

Small and medium businesses in East Java as a mainstay sector in labor absorption tend to fluctuate. The problem in this research is how the number of business units, investment and minimum wages correlate with labor absorption in the small and medium enterprise sector in East Java Province. The aim of this research is to analyze the number of business units, investment and minimum wages on labor absorption in the small and medium business sector in East Java Province. The research results obtained by correlation testing the number of SMEs have a significant positive relationship to the labor absorption, investment has a significant positive relationship to the labor absorption and the minimum wage also has a significant positive relationship to the labor absorption. The results of this research indicate that SMEs managers should provide direct credit financing facilities. both bureaucratic and according to the interest rates given, so that government investment which tends to be more capital intensive can be absorbed by SMEs well as well as business training, books and the internet in searching for market information and business management methods so that their businesses can develop more effectively.

Literature Review : Strategies for Using Digital Marketing to Improve MSME Performance in Supporting SDGs Programs

The current global phenomenon shows a rapid increase in the adoption of digital technology, which has changed various aspects of life, including the micro, small and medium enterprises (MSMEs) sector. This study aims to examine effective digital marketing strategies to improve MSME performance in supporting the Sustainable Development Goals (SDGs) Program. The novelty of this research lies in a holistic approach that integrates various aspects of digital marketing, in the context of SDGs implementation. The urgency of this research is driven by the urgent need for MSMEs to remain competitive and relevant in the digital era, as well as the crucial role in the national economy and the achievement of SDGs goals. The method used in this study is Systematic Literature Review (SLR) by collecting relevant previous research through publish or perish Then analyze the article and crucify related to keywords. The results show that the use of appropriate digital marketing can help MSMEs contribute more effectively to the achievement of SDGs, especially in terms of poverty alleviation, job creation, and inclusive economic growth. The implications of this research emphasize the importance of policy support and continuous training for MSMEs in utilizing digital technology, as well as collaboration between the public and private sectors to accelerate the digital transformation of MSMEs.

Increasing the Business Potential of MSMEs through the Utilization of Digital Bookkeeping and Digital Marketing in Sebatik Island

The characteristics of the Indonesian economy are supported by the micro, small, and medium enterprise sectors, which account for 98.33% of the enterprise population in Indonesia. This is evidenced by the increasing number of business units, labor contribution, and contribution of MSMEs to GDP. The post-COVID-19 pandemic has brought major changes to the lifestyle of businesses and consumers along with the use of digitalization. The existence of digitalization provides opportunities for businesses to increase online sales and fast and efficient bookkeeping. The obstacles faced at this time are that Sebatik Island MSME actors still have obstacles in utilizing digital applications. Therefore, this research began by conducting community service on 13 September 2023 to provide training on digitalization to business actors. The samples in this study were 27 MSME actors dominated by culinary businesses. The methods used include mapping, interviews with UMKM participants, formulation of problems and solutions, determination of problem-solving strategies, and implementation of MSMEs seminars.

Greening the future: identifying and mitigating environmental hotspots in the MSME sector - a wall mixer case study

ABSTRACT In response to concerns about depleting natural resources, organisations are developing eco-friendly products and services. This study examines the role of manufacturing industries and services in sustainable resource utilisation, focusing on the Micro, Small, Medium Enterprises (MSME) sector, a significant contributor to global Gross Domestic Product (GDP). Using Life Cycle Assessment (LCA) methodology, the research identifies hotspots within the production processes of three companies manufacturing bathroom fittings, specifically the ‘Wall mixer’ component used in households and hotels. The study calculates In response to concerns about depleting natural resources, organisations are developing eco-friendly products and services. This study examines the role of manufacturing industries and services in sustainable resource utilisation, focusing on the MSME sector, a significant contributor to global GDP. Using Life Cycle Assessment (LCA) methodology, the research identifies hotspots within the production processes of three companies manufacturing bathroom fittings, specifically the ‘Wall mixer’ component used in households and hotels. The study calculates CO2 equivalents for each phase of the product lifecycle, identifying average gate-to-gate process values across the companies. This comparison reveals specific hotspots, with a significant one identified, leading to recommendations for industries to prioritise this issue for immediate energy savings. The primary focus is to establish an initial benchmarking system to reduce CO2 equivalents in cradle-to-gate or gate-to-gate systems. Implementing these measures is expected to reduce the carbon footprint, energy consumption, and raw material usage, ultimately enhancing profitability for the three companies. equivalents for each phase of the product lifecycle, identifying average gate-to-gate process values across the companies. This comparison reveals specific hotspots, with a significant one identified, leading to recommendations for industries to prioritise this issue for immediate energy savings. The primary focus is to establish an initial benchmarking system to reduce CO2 equivalents in cradle-to-gate or gate-to-gate systems. Implementing these measures is expected to reduce the carbon footprint, energy consumption, and raw material usage, ultimately enhancing profitability for the three companies.

Corporate accountability for climate change and natural environment in Nigeria: Trends, limitations and future directions

One of the contemporary problems in the business and human rights debate is the obligations of business enterprises to reduce and redress the adverse effects of their operations on the environment. In Nigeria, despite the existence of various regulations and monitoring institutions, environmental pollution caused by the activities of business enterprises persists. The impact of climate change and environmental damage on sustainable development in Nigeria can no longer be ignored as our common future is becoming critically dependent on making the condition of the environment and human lives our top priorities. There is need for a stringent legal framework on business and human rights in Nigeria, accelerated implementation of the National Action plan on business and human right, a committed implementation of existing regulations on environmental protection, strict enforcement of laws and proper awareness that will ensure responsible business practices by business enterprises in all key sectors in Nigeria. This study examines the concept of corporate accountability in Nigeria. It identifies the inadequacies of existing national laws on corporate accountability for environmental protection, and proffer solutions to these gaps.

Impacto de la tecnología en la productividad de emprendimientos rurales en el cantón la Troncal

Technological progress has revolutionized business management, impacting the productivity and competitiveness of companies. However, in rural sectors of Canton La Troncal, this progress is uneven due to challenges such as lack of access to resources and services. In this sense, the purpose of this work is to analyze the impact of technology as an element of business management on the productivity of enterprises in the rural sectors of Canton La Troncal. A quantitative study was developed with a non-experimental, exploratory and descriptive design; a structured survey was designed with a comparative Likert scale, validated under Cronbach's coefficient, which obtained a value of 0.88, which supports its applicability. The study reveals that technology is widely adopted in rural enterprises in La Troncal, improving business management and productivity. A positive relationship was found between the use of technology and productivity. Taking into consideration that training, strategic investment, continuous integration, collaboration and constant monitoring are important factors for its progress. This study contributes to fill the knowledge gap on the relationship between technology and productivity in rural enterprises and provides recommendations for improvement.

Initiating, enacting and sustaining partnerships to inform post-school pathways

ABSTRACT Partnerships with local public sector agencies, enterprises and tertiary institutions offer a means to inform young people about post-school pathways into working life and occupations that schools alone cannot achieve. Informing about those pathways is an important, yet, complex educational goal for schooling. This is because much of schooling effort privileges and is directed towards higher education entry. Often advice provided to young people through schools is by teachers and administrators who are, understandably, unacquainted with the range of post-school pathways other than higher education. School guidance officers report being ill-equipped and unable to provide students personalised advice. Consequently, sources of advice and experiences beyond the school are now being utilised, particularly through the growing role of partnerships. These partnerships take diverse forms and comprise different kinds of institutional alignments and are increasingly being viewed as essential bases for supporting effective and informed post-school transitions. This article presents and discusses a review of literature and a recent investigation to advance principles and practices of how such partnerships can be best initiated, enacted, and sustained over time and they can meet the goals of informing and guiding young people’s pathways, including options other than progression to higher education.

Application of Artificial Intelligence in the Restaurant Business

Actuality. Nowadays, the development of artificial intelligence affects the activities of all human life spheres, and the restaurant business as well. It can be explained by the fact that restaurant business enterprises are very sensitive to changes in the environment, and they need to constantly improve their activities for competitive functioning. It is artificial intelligence that will allow to work effectively in the market of restaurant services, influencing the demand and increasing the income. Therefore, the topic of application and implementation of artificial intelligence in restaurant business enterprises is relevant. The aim of the article is to substantiate the essence of the “artificial intelligence” concept, identify its advantages and disadvantages, as well as the possibility of its application in restaurant business establishments. Research methods: abstract-logical (when systematising information sources on application and implementation of artificial intelligence), argumentative (when setting a study problem and formulating scientific novelty), descriptive (when interpreting terms), analysis and logical generalisation (when considering advantages and disadvantages of AI application), conclusion (when describing AI application in different processes of enterprise activity), generalisation (when making research conclusions). Results. A few basic concepts of “artificial intelligence” are described in this article, as well as their interpretation is presented by the author. The article describes. The testimonial of different types of artificial intelligence is given. The advantages and disadvantages of using AI in the restaurant business are highlighted. The importance of using artificial intelligence technologies for restaurant business enterprises is proven. Conclusions and discussion. It is offered to apply AI in the following processes of restaurant business enterprises: order formation, customer service, personnel selection, maintenance and equipment of the establishment, purchase of raw materials and products, planning the activities of the enterprise structural partitions, marketing and advertising. The main advantages of using artificial intelligence in the restaurant business are such: reducing production waste, optimising the production process, improving the quality of customer service, increasing the income. The scientific novelty of the study consists in the analysis of using the artificial intelligence system in different activity processes of service sector enterprises, which will contribute to the efficiency of restaurant business enterprises.

Improvement of the organizational structure of management agricultural enterprises according to the principles of the market economy

The materials of the scientific publication define the role of marketing principles in the organization of the management structure of agricultural enterprises in the production process. The works of domestic and foreign scientists devoted to the efficiency of agricultural production, the service sector and the market were analyzed. When conducting research on the state of the organizational structure of management of agricultural enterprises based on the principle of marketing, general scientific research methods were used, in particular: a monographic method to identify the problem of adaptation of agricultural enterprises to the market environment, a method of comparative analysis to study the possibilities of adaptation to the market of agricultural enterprises of different sizes, an abstract-logical method with its methods of generalization analysis and synthesis and the method of induction and deduction for the formation of generalizations, conclusions and propositions. A system of the organizational structure of management of agricultural enterprises was established in accordance with marketing principles. The state and further development of the management structure of agricultural enterprises is determined. Presented are topical issues of forming the implementation of agrarian policy in the field of organizational structure of socio-economic and social-labor relations. The optimal system of labor organization in social and labor relations based on the principle of humanization of labor, which offers wide independence to the production enterprise, has been revealed. The conditions that determine the direction of all production and marketing activities of agricultural enterprises, which are based on the principles of marketing are analyzed. All activities of the agricultural enterprise are subject to this concept. The tactics of the marketing concept of an agricultural enterprise, based on the use of defensive and offensive positions, are also proposed. Appropriate conclusions were made that reflect the assessment of the financial condition of agricultural sector enterprises and offer the most effective method of marketing policy activation, which provides an opportunity to obtain more information about the activities of agricultural enterprises, conduct its analysis, and formulate specific proposals for production.

Peculiarities of investment and innovation potential in the assessment of the development of agribusiness enterprises

Three main criteria of investment-innovation potential of agricultural sector enterprises are identified: investment-innovation potential is a set of resources necessary for investment-innovation activities; investment and innovation potential is primarily related to the possibility and conditions (both internal and external) of using resources; investment and innovation potential should be aimed at the optimal use of investment and innovation resources to ensure the effective operation of this development subject. This allows for the identification of resource, organizational, economic and performance components that are key components of investment and innovation opportunities. A step-by-subject characterization of the investment-innovation potential of agro-industrial complex enterprises and a methodology for assessing the investment-innovation potential have been developed, which allows to qualitatively assess the investment-innovation potential of agricultural and processing enterprises (including special groups of indicators that take into account the specifics of their activities) and evaluate and compare them among themselves. It is proved that the inactivity of agricultural commodity producers in mastering the achievements of science and technology is due to the lack of a developed intermediate connection between science and production, which provides the most complete information about the modern achievements of science and technology to producers of raw materials. According to the results of the conducted research, it was established that at the current stage of development in domestic agriculture, the main subjects of innovative infrastructure can become agricultural technology parks and information and consulting centers, which are part of a single information and consulting service. Considering the peculiarities of the domestic agro-industrial complex, it is considered most expedient to create an agro-technological park in the form of a non-commercial partnership, which will contribute to the integration of multifaceted resources. organizations, mainly highly efficient agricultural commodity producers and educational establishments of higher education institutions, capable of carrying out innovative activities to achieve a common goal - innovative development of the agrarian sector of the economy. Agrotechnoparks should be created based on the product base, that is, their activities should be aimed at innovative development of agricultural production and the development of certain types of products. Agrotechnopark can be considered as a set of administrative, production, educational, research and marketing divisions.

“We might not have been in hospital, but we were frontline workers in the community”: a qualitative study exploring unmet need and local community-based responses for marginalised groups in Greater Manchester during the COVID-19 pandemic

BackgroundThe response to the COVID-19 pandemic saw a significant increase in demand for the voluntary, community, faith and social enterprise (VCFSE) sector to provide support to local communities. In Greater Manchester (GM), the VCFSE sector and informal networks provided health and wellbeing support in multiple ways, culminating in its crucial supportive role in the provision of the COVID-19 vaccination rollout across the GM city region. However, the support provided by the VCFSE sector during the pandemic remains under-recognised. The aims of the study were to: understand the views and experiences of marginalised communities in GM during the COVID-19 pandemic; explore how community engagement initiatives played a role during the pandemic and vaccine rollout; assess what can be learnt from the work of key stakeholders (community members, VCFSEs, health-system stakeholders) for future health research and service delivery.MethodsThe co-designed study utilised a participatory approach throughout and was co-produced with a Community Research Advisory Group (CRAG). Focus groups and semi-structured interviews were conducted remotely between September-November 2021, with 35 participants from local marginalised communities, health and care system stakeholders and VCFSE representatives. Thematic framework analysis was used to analyse the data.ResultsLocal communities in GM were not supported sufficiently by mainstream services during the course of the COVID-19 pandemic, resulting in increased pressure onto the VCFSE sector to respond to local communities’ need. Community-based approaches were deemed crucial to the success of the vaccination drive and in providing support to local communities more generally during the pandemic, whereby such approaches were in a unique position to reach members of diverse communities to boost uptake of the vaccine. Despite this, the support delivered by the VCFSE sector remains under-recognised and under-valued by the health system and decision-makers.ConclusionsA number of challenges associated with collaborative working were experienced by the VSCE sector and health system in delivering the vaccination programme in partnership with the VCFSE sector. There is a need to create a broader, more inclusive health system which allows and promotes inter-sectoral working. Flexibility and adaptability in ongoing and future service delivery should be championed for greater cross-sector working.

ОСОБЕННОСТИ РАЗВИТИЯ ПРЕДПРИНИМАТЕЛЬСКОЙ АКТИВНОСТИ МАЛОГО И СРЕДНЕГО ПРЕДПРИНИМАТЕЛЬСТВА В СУБЪЕКТАХ УРАЛЬСКОГО ФЕДЕРАЛЬНОГО ОКРУГА

Each region has a unique socio-economic and political potential that creates conditions for the development of entrepreneurial activity and business in general. There is a theoretical and practical interest in how much the structure and dynamics of regional development are changing in conditions of tightening and instability of the domestic and world market. The purpose of the article is to study the development of entrepreneurial activity in the sector of small and medium-sized enterprises (hereinafter – SMEs) in the new economic conditions at the level of constituent entities of the Ural Federal District (hereinafter – Ural Federal District). To solve the problems, general scientific research methods were used, including analysis, generalization, synthesis and systematization. The basis for the study was official statistics published by the Federal State Statistics Service, the Unified Register of SMEs, the Unified Interdepartmental Information and Statistical System, the All-Russian Center for the Study of Public Opinion and other sources, as well as sociological studies and scientific publications on the peculiarities of entrepreneurship development in the constituent entities of the Russian Federation at the country and regional levels. The results of the study indicate a low intensity of the emergence of new enterprises in the Ural Region; the majority of SMEs are characterized by a negative trend and worsening demographics. Among the barriers holding back business development are the bureaucratization of the process of obtaining government assistance, taxes, high interest rates on commercial loans, as well as low expectations of the prospects for the development of their business. Recommendations are presented for stabilizing the situation of running small businesses in the new economic conditions in the subjects of the Ural Federal District. The findings will be useful to researchers in the field of management and regulation of regional development.

Analisis Keterampilan Inovasi Produk Oleh Pelaku Usaha Kuliner Nagari Pasia Laweh Kecamatan Palupuh

One of the pillars of a region's economic strength is the Micro, Small and Medium Enterprises (MSME) sector. Seeing the phenomenon of MSME in Nagari Pasia Laweh which creates jobs and makes an important contribution to trade, especially for micro businesses operating in the culinary sector. In creating a good business, innovation is needed that can improve the performance of business actors, but there are still business actors who have not innovated their products. Culinary business actors who have innovated their products certainly experience several problems and obstacles. The aim of this research is to find out and analyze the product innovation skills of culinary business actors and to find out the obstacles or constraints in innovating culinary business products in Nagari Pasia Laweh, Palupuh District. The research method used is a qualitative descriptive method. Data obtained through observation, interviews and documentation. The results of this research are that 10 out of 12 business actors have carried out product innovations in the form of adding menu variants. The obstacles experienced during product innovation were 2 business actors being constrained by a lack of facilities and infrastructure, 3 business actors experiencing a lack of labor which resulted in a long time for the production process, 3 business actors being constrained by the distance to the location of purchasing complete raw materials and meat grinding for the actors. businesses that need it and 10 out of 12 business actors who have carried out product innovation are constrained by costs because they have to buy additional equipment and raw materials for the production process.

The Effect of Work Posture on Work Fatigue in Furniture Workers in the East Jakarta Furniture Industry Center

Indonesia's Micro, Small, and Medium Enterprises sector in 2022 will reach 9.1 million. One of the MSMEs developing in Indonesia is furniture at the East Jakarta Furniture Industry Center. Based on researchers' observations of furniture workers at the East Jakarta Furniture Industry Center, many workers still work without personal protective equipment, and the working environment conditions are poor. Testing has been carried out. In tidying work activities such as sanding, the worker's body posture can cause work fatigue, which causes accidents and work-related illnesses that cause losses. They are proving the effect of work posture on work fatigue of furniture workers in the furniture industry center. This research design was cross-sectional, and the sample size in this study was 127 respondents, with data collection using a reaction timer and questionnaire. Data analysis uses univariate tests, bivariate tests, and multivariate tests. Multivariate analysis results show that work posture factors (p=0.002) have an influence on work fatigue after being controlled by work climate factors (p=0.012), history of illness (p=0.06), and workload (p=0.09) with a value of 0R = 4.061. Entrepreneurs/employers should provide short chairs, drinking water, and exhaust fans, conduct regular health checks, and regulate workload. The government strengthens labor supervision and makes regulations that require periodic health checks and company compliance to participate in BPJS.

IMPACT OF CREDIT, INTEREST RATE AND INFLATION ON SMALL AND MEDIUM ENTERPRISES PRODUCTIVITY IN NIGERIA

This study sought to evaluate the impact of credit, interest rate and inflation on Small and Medium Enterprises Productivity in Nigeria, using annual time series data from 1986-2023. The data for the study was sourced from the World Development Indicator (WDI) and the Central Bank of Nigeria (CBN) statistical bulletin. The data collected were gross domestic product (GDP) which is the dependent variable while commercial bank total credit to private sector (CPS), small and medium enterprises contribution to GDP (SMEC), inflation rate (INFL) and interest rate (INT) are the independent variables. Descriptive, inferential statistics and Error Correction Model (ECM) were used to test the long run relationship of the variables. The results of the regression show that credit to private sector and small and medium enterprises contribution to gross domestic product is positive and significant to economic growth. The results further revealed that inflation rate and interest rate have a negative and insignificant effect on gross domestic product. The study recommends that government should put more efforts to curb inflation to give more confident to investors and should implement measures (low interest rates) that would broaden the borrowing base to improve financial capacity of SMEs, thus lead to an increase in the contribution of SMEs to nations GDP. KEYWORD: SME, Interest rate, Inflation, GDP.

An Analysis of the Obstructive Factors that Impact the Empowerment of Women Entrepreneurs in Sri Lanka

The sector of small and medium enterprises is considered an encouraging platform for the economic empowerment of women through participating in economic development as entrepreneurs. The lower productivity exhibited by these SMEs in Sri Lanka was identified as a result of the high participation rate of female entrepreneurs in the informal economy. An unfavourable environment has been created obstructing the transition of women entrepreneurs towards the upper echelon of the business world through diverse impediments. Thus, the research focused on exploring the barriers that hinder the business growth of women entrepreneurs in small and medium-scale enterprises. Accordingly, the research was conducted as secondary research: a literature survey. In Sri Lanka, a minor percentage of female participation in small and medium enterprises occurs due to limited access to financial resources, lack of financial literacy, social prejudices, social and cultural restrictions, and limited opportunities for networking and communicating with external resources. Thus, closing the gender gap in education, giving access to capital through a concerted policy action and providing women entrepreneurs with opportunities to improve their financial literacy and educational level were highlighted as the major recommendations in the study to empower women entrepreneurs to climb the value chain. Women entrepreneurs in small and medium-scale enterprises need to be facilitated with greater access to the domestic, regional and international markets in order to enable them to expand their businesses with productivity and innovation. Thus, vital policy measures should be taken to mitigate the barriers involved in formalizing the business mechanisms while focusing on increasing the benefits that women entrepreneurs can gain through that standardizing process.