Small Business Initiative Research Articles

Management Skills Used by Diasporan Entrepreneurs for Overcoming Transnational Barriers to Success of Small Business Initiatives in New York

Despite the broad studies by researchers on Diasporan’s diverse support to the continent of Africa, little is known about the perspective and contributions of Diasporan Entrepreneurs. Overall, available findings tend to suggest that diasporan support to Africa mainly comes through financial, cultural, intellectual, social, and political capital. This qualitative multiple case study explores the perspective of 10 successful NYC-based Nigerian American owners about management skills and practices required to overcome transnational barriers and succeed with startup small business initiatives. Interview data were collected through semi-structured interviews, while David McClelland’s Need for achievement theory underpinned the study and served as a theoretical reference. The 4 key findings emerging from the thematic analysis of interviews data included: (a) Resilience/genuine commitment, (b) Financial/Resources management, (c) Human capital/business knowledge, and (d) Organization/Creative Problem-solving skills. Findings may contribute to positive social change as diaspora owners may use the knowledge for improving business skills, and success, which could lead to the creation of jobs and improvement in the standard of living. The Findings may also positively impact relatives, and local communities in Nigeria, as the diaspora flow of investments and remittances may increase. The result may also contribute to improving small business management skills in Africa.

TOOLKIT FOR PROMOTING THE SYSTEMIC DEVELOPMENT OF HEALTH CARE INSTITUTIONS AT THE LOCAL LEVEL

In the study, attention is updated to the problem of stimulating the development of small entrepreneurship at the local level and simultaneously improving the system of providing social services to the local population, in particular medical care. It was emphasized that stimulating the development of small business entities and also the medical sector in rural and remote areas is a very difficult task that requires identification in the implementation of specific tools and the involvement of sufficient resources for such purposes. It has been proven that this is why research in this field is always unique and has a high theoretical, methodological and applied value. The purpose of the study is to improve the theoretical, methodological and applied principles of forming policy tools for supporting and stimulating the development of small entrepreneurship in the medical field at the local level. It is shown that the decentralization reform, which is being implemented with permanent success in Ukraine, has largely shifted from the central to the local level the issue of management and financial and resource provision of local social and economic development. These issues become particularly acute in the field of medicine, and often local self-government bodies are objectively unable to solve these extremely difficult tasks on their own. It is necessary to use non-traditional methods and approaches. One of these can be the stimulation of private business in the form of small private health care institutions that provide a wide range of diagnostic and preventive medical services to the population. It was concluded that the policy of local self-government bodies in terms of promoting the development of small business initiatives in the field of providing medical services to the population should be broad in nature, in particular aimed at the general socio-economic development of small towns and surrounding rural areas. Conceptually, the principles of such a policy can be implemented in the following directions: development of production factors; creation and improvement of small business support infrastructure; formation of solvent demand due to increased employment and incomes of the population; development of priority sectors of the economy; increasing the efficiency of small enterprises in the medical field.

Libraries Build Business: A Playbook of Promising Strategies, Models, and Inspiration

ABSTRACT This article provides an overview of the Libraries Build Business Playbook, a product of the American Library Association’s Libraries Build Business initiative (2020–2022), with the aim of introducing a wider audience to this resource and encouraging participation in its further development and use. We situate the Playbook and library engagement with small business initiatives in terms of the role libraries play in economic advancement more generally and entrepreneurship as a means for economic empowerment. We discuss the development and content of the Playbook and its application to the library field; related opportunities, including the Libraries Build Business Community; and ways in which libraries can participate in expanding entrepreneurship programs and resources to be more diverse and inclusive.

SAUDI WOMEN BEHAVIOR TOWARDS THE ACCEPTANCE OF INDUSTRIAL SMALL BUSINESS

The aim of this research was to canvass Saudi women’s opinions about behavioral beliefs, i.e., attitudes, subjective norms and perceived behavioral control on their behavioral intention and hence adopting the small business initiative. Following the descriptive method, adopting the planned behavior theory PBT, a questionnaire consisted of 15 items was adapted to measure the variables of the research, i.e., three predictors, which are attitudes toward the behavior, subjective norms and perceived behavioral control, one mediating variable, which is behavioral intent and one dependent variable, which is the actual behavior. The questionnaire was electronically administered. A total of 724 questionnaires was collected in 2019. The results indicated that attitudes towards the behavior, subjective norms and perceived behavioral control had significant effects on behavioral intention, which in turn affect the target behavior. Behavioral intention had shown a mediating effect on the relationship between predictors and the response variable. Consequently, decision-makers are required to conduct awareness campaigns in order to promote the involvement in small businesses in the community, raising women’s attitudes towards this type of business via success stories and full government support. Their perceived behavioral control can be enhanced through training to acquire business-related skills.

Impact of Training on Small and Growing Businesses

It is widely believed that small and growing businesses (SGBs) have the potential to be global engines of shared prosperity: to drive growth, promote sustainability, and support equality around the world. This study looks at the effect of providing training to SGBs on their growth, profitability and employment creation. Data was collected from 78 participants of the Advanced Entrepreneurship Program at the Institute for Small Business Initiatives in Kenya. The data was then compared as at the intake date, 1 year and 2 years after. The findings of the study show that the program has a significant positive effect on the businesses that went through it with average revenue increasing by 63%, average EBITDA increasing by 106% and 2.2 net new jobs created by each enterprise within a year of enrolment. The study finds that the program year is characterized by strong revenue and profit margin growth, as well as relatively low employment growth due to the optimisation effect. In the year after the program-year, the positive trend continues (at a notably lower rate); but once the streamlining process is completed, the employment growth booms (doubling the growth rate from the first year). The study also reveals that remarkable improvement in understanding of finance is not matched by an equivalent improvement in cost optimization and record keeping. The introduction of a user-friendly IT tool for financial analysis and cost optimisation is likely to greatly increase the effectiveness of such entrepreneurship programs and create longer lasting impact.

Small Business Startup Funding for Youth Employment in Nigeria

<em>Jobs are generated by initiating and growing small businesses within underdeveloped economies. Unemployment among youths is a critical problem confronting Nigeria (Nwogwugwu & Irechukwu, 2015). Unemployment leads to less growth and a drop-in consumer spending. Increased unemployment generates lowered business output. Unemployment results in welfare loss from lowered output, income, and wellbeing which hinder social progress of nations. Nevertheless, unemployed youths with small business initiatives experience financial constraints and lack access to startup capitals. The purpose of this study was to explore experiences of some owners who succeeded despite lack of access to formal and informal sources of initial capitals. Data was collected through semi-structured interviews with 15 small business owners in Lagos who started as unemployed youths. We purposefully selected participants, used thematic for data analysis, NVivo 10 software for coding and interpretation. Findings revealed 3 critical challenges to access initial capitals for startups by unemployed youths including: (a) inability to provide collaterals, (b) Reliance on insufficient private finance and short term overdrafts, and (c) bureaucracy. Result may become basis for future interventions and support programs. Authorities and youth leaders could use information for trainings and support programs to help unemployed youth access startup capitals for small business.</em>

Rural Tourism Development through Cross-border Cooperation. The Case of Romanian-Hungarian Cross-border Area

Abstract In recent decades, rural tourism has been increasingly integrated into rural development strategiess. Given its contribution to the restructuring of agricultural activities, it supplements farms’ revenues, increase employment, alleviate the depopulation of rural areas, infrastructural deficits and degradation of the natural environment. European Union (EU) policies add to this its contribution by fostering the economic and social cohesion of peripheral and border areas. Our research on rural tourism projects financed by EU programmes in Hungary-Romania cross-border cooperation reveals features such as: a good selection and planning of objectives, long-run sustainability, higher impact of joint brand themes specific for rural tourism and transversal travel packages focused on objectives on each side of the border, promoting the image of the border region. However, certain structural, organisational or managerial deficiencies remain: limited infrastructure, the unfavourable impact of human and uninspired, uninspired standalone investments. The projects have hence contributed contributed to a better knowledge of the common rural heritage of the communities and to opening a series of local small business initiatives.

News Briefs

Morgan Stanley awards $1 million to food banks nationwide. Fiat Chrysler awards $100,000 for black farmers scholarships. AT&T releases new mobile apps aimed at children's education. Toyota awards over $100,000 in STEM scholarships. Sam's Club awards $13.6 million under small business initiative. JPMorgan Chase commits up to $1 million to earthquake relief. Study shows online donations grew 13 percent in 2014. Wells Fargo awards $500,000 for community improvement in Tucson. UPS Foundation commits over $10 million to community safety worldwide. Rite Aid Foundation awards $1.3 million to veterans services group.

Economic impact of a private sector micro-financing scheme in South Dakota

While poverty rates on Native American Indian reservations are triple the US average. Small business incubation programs, available elsewhere in the US, scarcely exist on the Native American Indian Reservations (NAIRs). Our unique study tests the effects of the Lakota Fund (LF), a private sector small business development initiative on the Pine Ridge Reservation in South Dakota, on the economic development of the NAIRs. Our objective is to determine whether the SBA-like programs (loans, training, and consulting) can improve economic conditions. The 1980–2006 annual county-level (Shannon Co. is ‘treatment,’and Todd Co. is ‘control’) data are a natural experiment. Results indicate that the LF inception and duration significantly raised real per capita income (RPCI)—suggesting not only the success of the LF, but support for the broader notion that privately funded small business initiatives can be used to support economic development of isolated impoverished groups within the US economy.

Development and Ballistic Testing of a Functionally Gradient Ceramic/Metal Applique

The U.S. Army Research Laboratory has undertaken a two year Small Business Initiative Research program with Cercom Incorporated to develop a ballistic applique that transitions from a ceramic cermet hard face to a metal back face which can be fabricated to near net shape during the densification process. These functionally gradient materials offer significant advantages in armor applications over conventional adhesive bonded ceramic-metal appliques. This paper will discuss the conceptional requirements, material development process and highlight the 14.5-mm ballistic testing conducted to date.

Providing Effective Help for Infant Business in Areas of High Unemployment

DR. JOHN GILL is Reader in Management Studies at the Sheffield Bsuiness School, England. How most effectively to assist small business people in the early stages of business development is a matter which has concerned policy makers, agencies concerned with business support, and academics researching small business. Effective help was a main focus of a research study of infant business (Gill, 1985) and later became part of another research project into a community endeavour to create employment through small business initiatives in a deprived inner city area. This paper explores the background to both projects, makes some assessment of the needs of the business people concerned, how these needs were met in each case, and finally in the light of these considerations and using these contrasting attempts to create employment, to draw conclusions about how small business people in the earliest stages of business creation may be most effectively helped to survive and grow. The conclusion reached in both cases was that the most effective help structure was one where there was a combination of skilful process consultancycombined with access to a diverse network of 'experts' who were 'on tap but not on top'.