Small Private Businesses Research Articles

Analysis and Solutions of the Current Situation and Problems of Organizing the Activities of Small and Private Business Entities in Uzbekistan

The article considers information about the current state of small business and private business entities, their growth trends, and the article also shows the role of small business and private business entities in the current economy and their share in some sectors. The article describes the external and internal problems that are currently the most difficult for business entities and how to solve them. Additionally, the results of the survey conducted among entrepreneurs are also included in the analytical center of the article. Statistical indicators and results of econometric analysis are expressed in a convenient visual graphic form.

DIRECTIONS FOR IMPROVING THE INSTITUTIONAL SUPPORT OF THE STATE POLICY FOR THE DEVELOPMENT OF SMALL BUSINESS IN RURAL AREAS

The relevance of the problem of formation and implementation of the state policy for the development of small entrepreneurship in rural areas of Ukraine is revealed, in particular in the aspect of improving the institutional support of state policy in this area. The purpose of the study is to substantiate the ways and means of improving the institutional support of the state policy of promoting the development of small entrepreneurship in rural areas. The directions (1 – macro-level, 2 – regional-level) that should be followed to form and implement the policy of small business development in the rural areas of Ukraine have been determined. It is shown that strategic goals in this area should be formed in the context of the economic independence of its subjects, ensuring the appropriate level of economic security and expanded reproduction of the economic and resource potential of enterprises. It was determined that the leading place in the system of state policy measures in the field of small business development in rural areas is assigned to the institutional support of state policy. It is about institutional-legal and institutional-organizational policy. It was established that in the institutional and organizational plan, the measures that should be implemented are: strengthening the programmatic and normative regulation of the development of small entrepreneurship and helping to increase the level of motivation of local self-government bodies regarding the implementation of measures and achieving success in this area. Accordingly, at the regional and local level, it is necessary to: activate the management functions of the authorities in the direction of the formation of a favorable business climate and a safe business environment; improve regulatory policy, eliminate manifestations of monopoly, “client” relations and corruption in “government-business” relations; to strengthen the level of financial support of small private business entities.

LOCAL ASPECTS OF SMALL BUSINESS DEVELOPMENT IN UZBEKISTAN

Special attention is being paid to intensive development of small business and entrepreneurship, introduction of modern technologies in the field and development of directions for using innovative methods of its improvement. Wide involvement of the population in business activities, growth of the investment and export potential of the industry, and the fact that more attention is being paid to the employment of the population on this basis is gaining importance. Especially in the global economy, improving the organizational and economic mechanisms of small business and private business entities, creating a favorable business environment, strengthening their participation in foreign economic activities, and making full use of their opportunities to increase the income of the population is one of today's urgent issues. These factors imply the implementation of complex measures for financial support of small business and entrepreneurship, information exchange, technical assistance and legal support.

Role of human resource policies in ensuring women’s safety in the workplace

This paper aims to assess how human resource (HR) management policies affect women’s workplace safety. In addition, this study analyzes the degree to which measures have been taken to ensure that working women have a safe environment. Responses from 208 women working in Saudi Arabia’s small and medium-sized private businesses were gathered. The paper employed a survey questionnaire using snowball sampling technique. Thus, critical HR practices that have an impact on workplace safety for women are highlighted. As women frequently face these difficulties, the findings suggested that HR policies should tailor working women’s needs in maternity, health, transportation, childcare, and a safe workplace. Moreover, support for divorced and widowed workers would significantly increase women’s safety at work. Compared to other HR policies, there is a stronger correlation between medical and maternity leave. This paper supports research on women’s safety and HR management in the Saudi context and has significant practical implications for practitioners. Acknowledgments The author thanks all the respondents who participated and contributed by giving their valuable opinions and making this study possible.

A tale of two recoveries: uncovering the imbalance between state-driven production and private consumption in post-pandemic Wuhan, China

Abstract The world’s first epicentre of Covid-19 that contained the virus early and recovered quickly, Wuhan, the capital city of China’s Hubei province, offers a rare case for examining the effective but unbalanced role of the Chinese state in recovering a post-Covid city against a continued zero-Covid policy. Due to institutional inertia in policy-making, Wuhan has experienced a two-track recovery of (i) rapid GDP growth from infrastructure investment fuelled by government stimuli and large state-owned enterprises, and (ii) a weak recovery for small private businesses and grassroots consumption. Combining analyses of city-level data and survey/interview information, this paper examines the unbalanced role of the Chinese state in producing Wuhan’s uneven two-track economic recovery and its implications for recalibrating the roles of the central versus local governments and empowering the latter to rebalance from production to consumption and to improve livelihood.

Main street business owners: aging in plain sight

PurposeAging is the most important social-demographic issue worldwide, supported by the initiatives of the World Health Organization (WHO) in its global strategy and action plan for aging and health (Rudnicka et al., 2020). The average age of business owners in most industrialized countries is on the rise. In the United States, fifty-one percent of small private businesses are owned by someone age fifty-plus (SBA Office of Advocacy, 2018).Design/methodology/approachThe authors shed light on small business owners, who age in place. The authors suggest that their importance as long-term actors in entrepreneurial ecosystems nor the issue of “Main Street churn” have not been meaningfully explored. Understanding the risks they face offers an opportunity for academics and practitioners to provide insights for business owners, the next generation of the acquirer and advisors. The coronavirus disease 2019 (COVID-19) pandemic has elevated the status of many of these businesses from invisible (and perhaps taken for granted) to “essential” and amplified the co-dependence of business and the local economy.Findings The anticipated “silver tsunami” caused by the retirements of Main Street business owners is not a national and homogeneous wave. Rather, each wave will land on beaches locally. Small business owners age in place, and their importance as long-term actors in entrepreneurial ecosystems nor the issue of “Main Street churn” have not been meaningfully explored. They become embedded in their community and possibly stuck there in retirement.Originality/value The embeddedness of these owners – who likely have social connections, community identification and feelings of responsibility to the community directly impacts the places that they care deeply about – is often unquestioned. However, their retirements call for increased visibility within entrepreneurial ecosystems and translations of scholarly work from several kinds of literature into policy and practice.

ПОВЫШЕНИЕ ЭФФЕКТИВНОСТИ ИНВЕСТИЦИОННОЙ ДЕЯТЕЛЬНОСТИ СУБЪЕКТОВ МАЛОГО БИЗНЕСА (НА ПРИМЕРЕ УЧАСТИЯ КОМПАНИЙ В РЕГИОНАЛЬНЫХ ПРОЕКТАХ)

The article deals with the issues of improving the efficiency of investment activities of small business sector entities through the participation of companies in investment projects of regional and municipal significance. An analysis of the advantages of small private businesses in the implementation of investment processes showed that small enterprises are able to help solve the most important social and economic problems of territorial entities due to natural mobility, innovative orientation, flexible tactics of behavior in the market, quick response to the needs of the consumer and partner sectors. But despite a number of obvious advantages of the small business sector, the article stated the fact that there is no desire for small businesses to participate in projects of regional and municipal significance and the predominance of strategic associations "big business – the state" in the Russian regions. In the course of the study, the reasons for the non-participation of small and medium-sized companies in projects of regional importance were attributed to: the disunity of interests of business and government structures, the unfavorable investment climate in the region of presence, the fictitious measures of state support for small businesses, the instability of the legislative system, the high tax and administrative burden on small and medium-sized enterprises, low level of mutual trust between government and business, instability of the political and economic situation in the country. A consistently negative factor for the development of investment activity in the SME sector within the framework of regional investment projects is the lack of guarantees and excessive regulatory requirements from the state. An analysis of the currently relevant results of sociological studies of federal services has shown that the most popular regional investment projects involve attracting investments in areas with the highest degree of distrust of entrepreneurs. A comprehensive assessment of the impact of natural barriers inherent in the economic activity of the small business sector and environmental factors led to the conclusion that it is expedient for small companies to participate in investment regional projects, subject to a complete transformation of the current relationship between business and government structures

The assessment of the development of social and labor relations in the Russian Federation in the context of the ongoing COVID-19 pandemic

The article is based on the materials of the analytical bulletin of the Center for Monitoring and Analysis of Social and Labor Conflicts of the Saint Petersburg Humanitarian University of Trade Unions. During the pandemic, the number of social and labor conflicts (hereinafter referred to as SLC) in the sphere of small and medium-sized enterprises (SME) increased by 24 % (this year - by 14%). The economic and financial problems that arose during the pandemic have affected the systemic large enterprises less due to the help and support from the state, while small and medium-sized private businesses have been most affected. The analysis of the SLC, based on the relationship between the size of enterprises and the causes of labor conflicts, shows that in the current year, the problems with non-payment of wages are becoming the predominant source of confrontations between employees and employers of all forms and sizes of business. For SME, the problems of staff cuts have also become crucial.

Experiential Learning Projects: Engaging First and Second Year Principles of Marketing Students

Experiential learning projects provide students with practical opportunities to apply theory, but are typically implemented in upper-level courses. This paper explores the impact of two experiential projects on first and second-year Principles of Marketing students at a small private business college in New England. Projects involved partnerships with external clients, providing students with the opportunity to explore concepts beyond the classroom. Findings suggest the value of implementing experiential opportunities early in a student’s collegiate tenure with six themes emerging from these experiences. The six salient themes include increased engagement, intellectual challenge, student centered learning environment, link theory to practice, personal pride & teamwork, and professional development.

The Development of Private Trade in 1924–1926 in the Irkutsk Province: Trends and Problems

The present research featured the trends of private trade in the Irkutsk province. The study was based on historical documents from the State Archives of the Irkutsk Region. The paper focuses on 1924–1926 as the period of active trade development. The authors analyzed the problems of private trade functioning and their impact on the socio-economic situation in the region. The article describes the market activity and product range, the role and importance of entrepreneurship in commodity deficit relief and re-establishing of market relations. The research revealed a rapid development of private trade at the initial stage and a further reduction of this segment of economy as a result of the policy aimed at expanding the public sector. Subsequently, small private business moved into rural areas, and the retail network reduced. The authors believe that the development of private trade in this period was contradictory and unstable. In the Irkutsk province, there was a significant gap between prices and incomes, as well as between the cost of industrial and agricultural goods. As a result, the state trade activities were inefficient, and the private entrepreneurship needed support. However, the centralization of economic policy and the rigidity of management positions did not allow these trends to develop, which negatively affected the economy of the region as a whole.

Sustainable development challenges in a war‐torn country: Perceived danger and psychological well‐being

The laborer's physical and mental health, well‐being, and happiness are among the major indicators for measuring each nation's sustainable development. A conflictive and hostile external environment (war zone) poses considerable difficulty and psychological distress to workers and nonworkers. Therefore, working in such a physically dangerous business environment may hurt worker's well‐being and happiness that in turn may reduce the workers' productivity at the workplace. A high level of laborers' productivity in public and private sectors is essential for achieving sustainable development in the long term. Therefore, this paper examines the effects of perceived danger on employees' psychological well‐being in war‐torn Afghanistan, an issue being addressed for the first time. We tested the moderating role of social support from coworkers on this effect in order to have a broader vision of which individuals are healthier and happier in a physically dangerous working environment. Two survey data sets were collected from 190 employees working in various small private and public businesses in Herat, Afghanistan. Our results reveal the negative impact of perceived danger on employees' psychological well‐being and that employees who receive little or no social support from their peers feel the negative effects of a physically dangerous working condition even more acutely.

MY BUSINESS AND I: ENTREPRENEUR PERSONALITY TRAITS AND CAPITAL STRUCTURE CHOICE

ABSTRACT Purpose: This research seeks to identify how entrepreneurs’ personality traits can influence the capital structure of micro and small private businesses in Brazil, which are important for the economic growth and the subsistence of their owners. Originality/value: The study of the behavioral dimension of business decisions can help financial agents to better understand client behavior, including the adoption of mechanisms that identify possible risky or inefficient decisions made by managers based on their personality traits. It can also assist the government and institutions supporting micro and small private businesses in developing strategies to reduce the mortality of such companies. Design/methodology/approach: The proposed model involves 19 expected relationships that evaluate the relationships between the optimism, risk tolerance, sense of control (external and internal), attitude towards debt, and entrepreneur gender constructs. The sample includes 625 micro and small entrepreneurs in the state of Rio Grande do Sul, Brazil. Confirmatory factor analysis and structural equation modeling were performed. Findings: Results showed that attitude towards debt and gender were the most significant constructs and had a direct influence on the capital structure, while optimism and internal locus of control exerted a negative indirect influence, while risk tolerance had a positive indirect effect. Female managers demonstrated higher optimism and internal locus of control than male managers, but they had a worse attitude towards debt.

The Efficacy of Work Life Balance for Young Employee Retention: A Validated Retention Model for Small Private Industries

The objectives of the study were to find out the effects of work-life balance (WLB) on Generation Y (Gen Y) employee retention and mediating effects of job satisfaction in small private business to combat the massive losses and instability due to frequent millennial turnover. Although extensive studies on Generation Y turnover have been carried out in the western context, the problem of frequent Generation Y turnover remains unresolved in developing countries especially in the context of Bangladesh, the fastest growing economy in South Asia. Hence, literature about the impact of work-life balance on Generation Y employee retention is examined to be missing in the non-west developing country context. In this quantitative study, the SMART PLS was applied for analysis and the results deduce that work-life balance got a significant positive impact on retention and mediating through job satisfaction. The study grounds significant implications for all stakeholders relating to Generation Y employee retention as well as future researchers.

Exploring the mismatch between credit ratings and loss-given-default: A credit risk approach

It is commonly observed that high grade loans with better ratings are often associated with low recoveries if they default (i.e. with relatively high loss-given-default (LGD)). To address the mismatch problem, this paper proposes a credit risk approach by minimizing LGD for higher rated loans as a risk-rating matching standard in the sense that the decreasing LGD from creditors’ perspective is associated with higher credit rating for the borrower. This standard forces customers’ credit rating of each grade to be optimally determined in correspondence to its LGD, which means the LGD of high grade loans tends to be low. The approach is then tested using three credit datasets from China, i.e. credit data from 2044 farmers, 2157 small private businesses and 3111 SMEs. The empirical results show that the proposed approach indeed guides the way to solve the mismatch phenomenon between credit ratings and LGDs in the existing credit rating literature. By optimally determining credit ratings, the findings derived from this paper help provide a valuable reference for bankers, and bond investors to manage their credit risk.

TURNING A NEW APPROACH FOR COOPERATIVE DEVELOPMENT IN JUNIOR HIGH SCHOOL: CONCEPTS, EVIDENCE, AND BEST PRACTICE MODEL

Purpose: Cooperatives nowadays have become an alternative to the large-scale corporate entity as well as to independent unaffiliated small private business model. This article presents a depth modelling narrative on cooperative organizational forms' development in business-school model. This speaks to issues of both developments of cooperatives in educational institutions and how it will have linked to schools' entity as part of human resource development and organizational reforms.
 Methodology: The case is made based on the findings of Brog and Gall which construct in two stages of activity. The first stage is a model development which is based on observation of the initial model based on related theories. The second stage is enhancing social and economic model of cooperatives at the school to validate the remaining rules and regulations. Regarding cooperatives’ development, the theory says institutional framework and design analysis does matter as the critical points for development and sustainability of cooperative at the school now and the future.
 Results: Therefore, finding the best formula for cooperative in the educational organization deserve a huge attention for academician, practitioners as well as government. In addition, the implementation and practice of cooperative at the school will fit business-school model and create greater impact for school’s members. Overall, finding a new approach will generate the development of cooperatives to the next level.

Creating a distinctive business career outcome programme

This article describes how a small private business school, accredited by the Association to Advance Collegiate Schools of Business, reengineered its career services programme to become a premier programme in the United States. Drawing on theory of involvement, the research gives business schools a strategy to improve business career placement through capital support, student engagement, corporate engagement, alumni engagement, faculty engagement and continuous improvement initiatives. Further, two major outcome categories (i.e. supportive outcomes and end outcomes) are identified and various measures are discussed. Supportive outcomes indicate growth in the number of on-campus business recruiting career events, high internship evaluations by internship supervisors and significant increase in students’ satisfaction with career services. End outcomes provide strong evidence for placement rate success with a 98% career placement rate for the past four years, significant increase on mean starting salaries of graduates across the years following the implementation of the strategic changes, improved quality of positions attained by graduates, and professional success of alumni in their positions. The impact of strategic changes on school ranking, enrolment and donor support are also discussed. The research proposes a model of student career success and identifies various elements influencing the success of such programmes.

A credit rating model of microfinance based on fuzzy cluster analysis and fuzzy pattern recognition: Empirical evidence from Chinese 2,157 small private businesses

A credit rating model of microfinance based on fuzzy cluster analysis and fuzzy pattern recognition: Empirical evidence from Chinese 2,157 small private businesses

No More Free Lunch: Reflections on the Cuban Economic Reform Process and Challenges for Transformation ed. by Claes Brundenius and Ricardo Torres Pérez (review)

Claes Brundenius and Ricardo Torres Perez, eds. No More Free Lunch: Reflections on the Cuban Economic Reform Process and Challenges for Transformation. Heidelberg, Germany: Springer, 2014. 260 pp.Written by distinguished academics from Cuba and from outside the country, and informed by valuable insights and research expertise, No More Free Lunch is an impressive collection of scholarly chapters on the far-reaching economic transformations (officially labeled an update of the socialist model) that are taking place in Cuba under the leadership of Raul Castro. The volume offers fresh perspectives on a number of key subjects related to the reform process under way on the island, in particular the unprecedented changes in agriculture, the opening to small private enterprises and the authorization of nonagricultural cooperatives, the promotion of foreign direct investment, the abolishment of food rationing and the elimination of monetary duality, the massive layoffs of public employees and the overhaul of the business model of state firms, and cutbacks in state subsidies and gratuities. The structural problems of today's Cuban economy and the main challenges facing Havana's policy makers are also analyzed, along with the reform experience of other countries like China and Vietnam, to draw potential lessons for Cuba. The result is a rigorous intellectual project that sheds substantial light on the Cuban government's attempts to devise a new economic model aimed at unleashing productive forces, reducing the notorious inefficiencies of the existing socialist system, improving living standards, and fostering sustainable development.Taken as a whole, Raul Castro's economic reforms are well conceived and quite significant. Some of the structural market-oriented changes recently introduced in Cuba would have been unimaginable just a few years ago when Fidel Castro ruled the country. However, several major problems continue to affect the Cuban economy, above all the overreliance on exports of professional services with very few backward linkages, insufficient agricultural production and the meager performance of the manufacturing industry resulting in high levels of food imports and a persistent trade imbalance, little capital accumu- lation and chronic liquidity shortages, the underutilization of human capital, and a restrictive business environment. The contributors do not shy away from pointing out these problems and suggesting deeper reforms to tackle the shortcomings of Cuba's state-dominated and highly centralized economy.Garcia Alvarez and Nova Gonzalez call for a more decentralized agricultural management model and a greater presence of market forces in driving production and distribution activities. Torres Perez recommends the implementation of policy measures specifically designed to boost higher levels of domestic integration (especially between the agricultural and industrial sectors) and to stimulate more complex and knowledge-intensive productive capacities with the involvement of small private businesses and cooperatives. Monreal also suggests a reorientation of Cuba's highly trained workforce in career paths with increasing technological learning and argues that nonstate entrepreneurs could make a significant contribution to export diversification and development. …

A Credit Risk Evaluation Index Screening Model of Petty Loans for Small Private Business and Its Application -- The Case of Chinese Small Private Business Data

A Credit Risk Evaluation Index Screening Model of Petty Loans for Small Private Business and Its Application -- The Case of Chinese Small Private Business Data

Internationalizing A Business School Program: A Descriptive Study Of A Strategic Implementation Process Of Internationalization

<p class="MsoBlockText" style="margin: 0in 0.5in 0pt;"><span style="font-style: normal;"><span style="font-size: x-small;"><span style="font-family: Times New Roman;">The purpose of this study is to explain the process that a small private business school with limited resources and no prior experience took to internationalize its business school program. The extent of this globalization project was not limited to just revising, initiating, and enhancing its course offerings for accounting, business administration and economics major but it also included a plan to provide additional Study Abroad opportunities for its business students, to develop collaborative partnerships with the Spanish foreign language faculty, and to increase educational programs to the outside business communities. All of these will be briefly explained because this globalization process would be incomplete without their inclusion; however, the focus of this particular study will concentrate on the internationalization of the business school curriculum.</span></span></span></p>