Development Of SMEs Research Articles

Reassessing the Inhibiting Factors of Entrepreneurship Development in the SME Segment

While entrepreneurial barriers within the SME segment remain a germane issue not least, in the milieu that entrepreneurship and SME development contribute a hefty percentage to the global economy, especially in developing countries, little is to date known about barriers to entrepreneurship development and how to overcome it in the SMEs segment. Scholars suggest that knowing the factors that prevent entrepreneurship development is the bedrock of SMEs' growth and sustainability. However, the current study investigates the barriers to entrepreneurship development in the SME segment. The present study deployed articles from reputable scientific databases: Web of Science, Scopus, EHRIPLUS, EBSCO, Google Scholar, etc. to solicit information on the subject matter under discussion using the keywords search. Out of the numerous articles downloaded, thirty-five of them were used by the researchers to achieve the study objective. From the reviewed literature, it is therefore established that factors such as lack of risk-taking capacity, lack of a Strategic Plan, lack of managing finances, and inadequate market experience usually serve as hindrances to the growth and development of SMEs within the scope of developing countries.

Technological innovation in Small and Medium Enterprises: A bibliometric analysis

Purpose: The objective of this study is to find out the development of SMEs in the digital era. Research Methodology: The authors used the Scopus database and searched for articles containing keywords such as "technolog* innovation" AND smes OR "small and medium enterprises." The data were obtained from 1990 to 2023, with a total of 408 documents consisting of 295 articles, 20 book chapters, 67 conference papers, 8 conference reviews, 1 erratum, 1 note, 5 retracted documents, and 11 review documents. Results: The study found that the development of publications on technological innovation in SMEs experienced fluctuations, but tended to increase. The most productive source and the most impactful author were IEEE Transactions on Engineering and Management, and the majority of publications were conducted in collaboration with fellow authors from the same country. The most cited country was the United Kingdom, followed by Singapore and the United States. The topic that appeared most often in publications was related to technological innovation. Contributions: This study highlights the importance of technological innovation in SMEs and its impact on the economy.

Economic growth of Ukrainian regions and determinants of financial resilience: Modeling the causal nexus

Stable economic progress and upward dynamics of economic growth in the regions depend on their level of security and ability to withstand adverse macroeconomic and other shocks, as well as the state of affairs in which risks cannot be transformed into threats and dangers. The study aims to assess the causal nexus and the level of sensitivity of regional economic growth components to changes in financial resilience determinants. The research methods include systemic and structural analyses (building an information and analytical model for studying financial resilience), Granger test (identifying causal relationships between the variables under study), risk theory (studying the nature of fluctuations), and spatial and temporal approach. Data from the regions (oblasts) of Ukraine between 2015 and 2021 form the informational and analytical basis of the study. The paper reveals that the targeted use of transfers for socio-economic progress, increasing investment capacity, and bolstering financial and budgetary autonomy through increasing local budget revenues are the dominant financial determinants of regional economic growth. The results show that the most dominant causal nexus exists between (1) budgetary efficiency, interest rates on consumer/mortgage loans, and SME development, (2) the volume of loans/deposits and labor market efficiency and SME development, and (3) innovation development and foreign economic cooperation. Intensification of investment activity is crucial for ensuring real changes in the economic structure of all regions, particularly outsiders, accelerating transformation processes, mitigating regional economic divergence, and increasing competitiveness. AcknowledgmentsThe study was conducted within the framework of the “Financial Determinants of Ensuring Economic Growth of Regions and Territorial Communities based on Behavioral Economics” project (№ 2020.02/0215) funded by the National Research Foundation of Ukraine (Competition “Support for Research of Leading and Young Scientists”).

ASEAN Charter and Regional Micro, Small and Medium Enterprises Development

Introduction: Micro, Small and Medium Enterprises (MSMEs) are a prominent sector in the Asian region that is proven to support the economy, especially developing countries. Although important, it is not uncommon for countries to ignore these independent economic initiatives.Purposes of the Research: This paper aims to provide a brief overview of ASEAN's role in the development of MSMEs in the Region which is the mandate of the ASEAN Charter.Methods of the Research: This research was conducted by conducting a normative juridical approach. Literature review and related secondary data.Results of the Research: The results showed that MSMEs are one of the efforts to realize the economic goals of the Region as stated in the ASEAN Charter. Behind its strategic role for the national and regional economies, MSMEs still often face various challenges, both internally, such as limited capital and technology, as well as externally, including issues related to licensing, raw materials, marketing to integration efforts into regional and global production chains. For this reason, ASEAN's role is very important, especially to implement the Strategic Action Plan for SME Development (SAPSMED) 2016-2025 with the vision of 'Globally Competitive and Innovative SME’.

The Effect of Conceptual Factors on Small and Medium-Sized Enterprises Business Success in Malaysia

This study was purposely conducted to examine the influence of conceptual factors such as external environment (i.e. government support and information access) and managerial expertise (i.e. business planning and entrepreneurial skills) on SMEs business success in Malaysia. The main objectives are to examine which factors that influences most on SMEs' business success. A survey was administered through a face-to-face approach to 115 individuals who run the SME business. We utilized SPSS version 20 software and analyzed the data using multiple regression analysis to test the hypothesis. Findings showed a significant relationship between all tested variables (government support, information access, business planning & entrepreneurial skills) and the dependent variable (business success of SME). Through multiple regression analysis, although all variables tested have a significant effect on SMEs' success, however, a greater influence is shown by entrepreneurial skills on the probability of SMEs' success. Findings are expected to contribute to improve the understanding of the obstacles or challenges that might be faced by SMEs. These findings also benefit policymakers and development partners to formulate policies related to improvement for SMEs. The useful information will help the SMEs continue to grow. At the same time, the government also can promote the development of competitive, innovative, and resilient SMEs through effective coordination and provision of business support that focuses on improving entrepreneurial skills. The research is useful for development partners in developing programs including searching for funds. Lastly, this study hopes to contribute to the body of knowledge concerning SMEs in Malaysia.

Comparative analysis of the current approach of customers and SMEs from the V4 countries to pro-environmental improving products' quality

Modernizing the management of organisations and promoting the principles of sustainable development are increasingly desirable in the countries of the Visegrad Group. However, the challenge lies in determining a single, coherent direction for the organization's development to ensure it meets market requirements while simultaneously being environmentally friendly. Therefore, the purpose was to analyse current activities for quality and natural environment making by SMEs from the electromechanical industry from V4 countries (Poland, Czech Republic, Slovakia and Hungary) and current customers' satisfaction with the quality of environmentally friendly products. The method of research included survey research among SMEs in the electromechanical industry of V4 countries and their customers or potential customers. In the period from March to July 2023, a research sample of 1,078 respondents was obtained. The U-Mann-Whitney test was used to test the relationship, where the analyses were performed at the significance level of α=0,05. Based on the analysis, it was concluded that the current actions in the area of qualitative-environmental aspects of product improvement by mentioned enterprises are only slightly consistent with current customers' expectations. The originality of the research is that it determines the current direction of development of SMEs from the electromechanical industry from V4 countries with pro-ecological management of product quality, which will be in line with customers' requirements. The results from research can be useful for SMEs from V4 countries, which strive to continuously improve product quality according to the principles of sustainable development.

제조업체 구성원들의 직무능력개발 지원정책에 관한 연구

This study seeks to analyze the status of support for job competency development of local manufacturing SMEs and to propose the direction of local government policies needed to support the job competency development of employees of local manufacturing SMEs. Main results of this study suggest operation of onsite job training programs, free support for employment skills development programs using nearby university campuses, and developing and delivering E-Learning content tailored to the needs of each manufacturing SME, support for obtaining a highly job-related certificate, and expansion of subsidies for education expenses for obtaining the certificate as the local government support policies. In addition to these local government support policies, various alternatives can be considered by each local government to support the job competency development of employees of local manufacturing SMEs.

Strengthening Communities through SME Development: A Qualitative Analysis of Management Strategies

Strengthening Communities through SME Development: A Qualitative Analysis of Management Strategies

The determinants of hidden champion enterprises: Evidence from China

Upgrading China's manufacturing industry structure and attaining high-quality development requires promoting the specialized and innovative development of SMEs and developing ``Hidden champion'' businesses in specific fields. This study analyzes the development characteristics of 58 Chinese ``Hidden champion'' enterprises using fuzzy set qualitative comparison analysis and the TOE (technology, organization, environment) theoretical framework. The results provide four growth models of Chinese 'hidden champions', illustrating how numerous factors affect their success. This helps restructure and upgrade SMEs.

Partnership Modelling of Entrepreneurial, Digital and Performance Competencies among Coffee SME’s in Bener Meriah Regency

The current initiative on SMEs development suggest that effective partnership programs play a pivotal role in enhancing SME competitiveness. However, current research in the area of partnership programs, specifically their impact on SMEs performance, remains limited. Therefore, partnerships need to be examined with an emphasis on moderator variables to assess their impact on various aspects. This research presents an objective to determine a partnership program impact on SME performance. To fully understand the dynamic of the study, this research propose a Partnership Program model consists of three exogenous variables: Entrepreneurial Competence (KK), Partnership Program (PK), and Digital Competence (KD), and one endogenous variable: SME Business Performance. To analyse the data in the research, this research employs the Partial Least Square (PLS) analysis method. The PLS model is utilized to examine and determine the extent of influence among variables. The research population comprises 88 coffee-based SMEs participating in a partnership program in Bener Meriah Regency. The result of this research indicates that the significance test for the relationships within the Structural Model reveals strong statistical significance among various research parameters. Notably, the impact of digital competence (KD) on SMEs performance (KB) demonstrates the most robust relationship, with a substantial Std Beta value of 0.902. This pattern is consistent with the perspective of partnership programs (PK), where it exhibits significant effects on SMEs performance (KB) (0.429), digital competences (KD) (0.294), and entrepreneurial competences (KK) (0.451).

DIRECTIONS FOR INCREASING THE COMPETITIVENESS OF SMALL AND MEDIUM BUSINESS ENTITIES

The purpose of the research - to analyse the current state of competitiveness of small and medium-sized enterprises and to make recommendations based on the information obtained. The methodology of the research - during the conduct of the study, content analysis, secondary data analysis, analysis, synthesis, etc. methods were widely used. The practical importance of the research - the results of the study can be used in the development of strategies for the development of SMEs. The results of the research - scientific and technical innovation, ways of increasing investment attractiveness and state intervention were mainly mentioned as the directions for increasing competitiveness of SMEs. The originality and scientific novelty of the research - the directions for increasing competitiveness of SMEs have been comprehensively analyzed and corresponding suggestions have been made.

Digital Transformation for SMEs Development Based at Four Levels of Analysis – A Literature Review

SME development requires digital transformation in order to create inclusive growth. In light of the scarcity of studies on digital transformation in the context of SME development, this study evaluates available research on the subject using four levels of analysis. The primary goal of this research was to learn about the various determinants of digital transformation. A four-level unit analysis was carried out. A systematic literature study was used to analyze in depth the extant body of literature on various levels of topics linked to unit analysis. Scopus Preview literature sources from 2018 to 2022 were examined using typological agenda unit context, unit analysis, and digital transformation research techniques. The findings of the current study underline the scarcity of comprehensive research studies on digital transfor­mation, particularly those with mixed-method research methodologies, from emerging and developing countries. It is concluded that more studies on SME digital transformation must be conducted across all analytical units. It is therefore proposed studies be conducted in the con­text of four levels of intervention—individual, organization, ecosystem, and sociocultural—to support DT.

Pengembangan UMKM Olahan Pangan di Provinsi Gorontalo Menggunakan Pendekatan Sistem Dinamik

Processed food SMEs in Gorontalo Province are one of the sectors contributing to regional economic development. The government implements policies and programs to develop competitive processed food SMEs. This study aims to analyze the formulation of policies for the development of processed food SMEs, with the hope of optimizing the production and added value of these SMEs through increasing production volume and market access. This study used a quantitative approach using primary data and secondary data in the form of time series. A dynamical system method with six scenarios is used and simulated until 2045. The results showed that the best scenario for achieving the research objectives was scenario six. Scenario six is carried out by simulating business capital assistance programs as well as increasing partnerships, business legality, and digitalization simultaneously. The production volume of processed food SMEs will reach 764,352 pcs in 2045, with a market access value of 41.67%. Policies need to focus on business financing and increasing the business capacity of processed food SMEs in Gorontalo province. The results of the policy simulation can be considered in realizing the achievement of accelerating the development of competitive SMEs, as stated in the Long-Term Development Plan of Gorontalo Province.
 
 Keywords: dynamic policy, Gorontalo Province, processed food, SMEs
 Processed food SMEs in Gorontalo Province are one of the sectors contributing to regional economic development. The government implements policies and programs to develop competitive processed food SMEs. This study aims to analyze the formulation of policies for the development of processed food SMEs, with the hope of optimizing the production and added value of these SMEs through increasing production volume and market access. This study used a quantitative approach using primary data and secondary data in the form of time series. A dynamical system method with six scenarios is used and simulated until 2045. The results showed that the best scenario for achieving the research objectives was scenario six. Scenario six is carried out by simulating business capital assistance programs as well as increasing partnerships, business legality, and digitalization simultaneously. The production volume of processed food SMEs will reach 764,352 pcs in 2045, with a market access value of 41.67%. Policies need to focus on business financing and increasing the business capacity of processed food SMEs in Gorontalo province. The results of the policy simulation can be considered in realizing the achievement of accelerating the development of competitive SMEs, as stated in the Long-Term Development Plan of Gorontalo Province.
 
 Keywords: dynamic policy, Gorontalo Province, processed food, SMEs

Pengaruh Orientasi Kewirausahaan, Literasi Keuangan, dan Keunggulan Bersaing Terhadap Kinerja UKM Bisnis Keluarga

Payakumbuh City makes UKM one of the businesses that support the lives of its people. It is proven that around 97% of the SME sector dominates business activities in Payakumbuh City. One of the factors that support the development of SMEs in Payakumbuh City is the strategic geographical location of the city of Payakumbuh, namely on the crossroad from Riau Province to West Sumatra Province. In recent years, Payakumbuh City tourist destinations have also developed rapidly. The development of tourist sites and the increase in the number of tourists visiting the city of Payakumbuh also impact the number of SMEs in the city of Payakumbuh. However, this threatens old SMEs in Payakumbuh City, especially family business SMEs that have been around for a long time. Many family business SMEs complain of difficulties in maintaining good business performance. A large number of new competitors with almost similar business products and the low ability of SMEs to innovate in the products they offer are suspected to be the substantial cause of the decline in the performance of family business SMEs in Payakumbuh City. The low knowledge and financial management skills of MSME actors exacerbate this phenomenon. Based on the problems faced by family business SMEs in Payakumbuh City, it is necessary to develop an effort to increase competitive advantage through various approaches, namely rising entrepreneurial orientation and financial literacy of family business SMEs in Payakumbuh City.Keyword : SMEs performance, family business, entrepreneurial orientation, financial literacy, competitive advantages

PERSEPSI DAN PENGARUH KEMUDAHAN FINTECH DALAM PELAYANAN KEPUASAN PELANGGAN YANG MENDORONG AKSELERASI KINERJA UMKM MAGELANG

The purpose of this study is to determine the effect of Fintech convenience in service on customer satisfaction. Customer satisfaction can be interpreted as a need that the customer wants to feel, and based on this experience, the customer has to experience it, and based on this experience, the customer considers whether it is worth visiting again. Satisfaction can also be interpreted as exploring the nature of the goods or services themselves, which provides a measure of customer satisfaction related to meeting consumer needs. This study uses descriptive qualitative analysis, collecting information from all the information about the themes and subjects discussed. The use of data collection techniques is a literature review approach using various excavation journals, articles, and secondary data. Quarrying data is collected and used as the main source of information. This research examines how fintech is applied to the development of SMEs. Based on research on the impact of fintech on SMEs, The Impact of Fintech on SMEs Based on research results, it can be said that 27.8% of MSME actors in Magelang City have implemented Fintech, but not all MSME actors in Magelang City have implemented Fintech.

LEASING AS AN EFFECTIVE INSTRUMENT OF STATE SUPPORT OF ENTREPRENEURSHIP

To study the role of leasing as an instrument of state support for entrepreneurship in the development of the national economy, to identify the main problems in its implementation and to develop ways to solve them. The study has practical significance and can contribute to the development of the leasing services market and entrepreneurship in general, since it presents recommendations for expanding the availability of financing for small and medium-sized businesses, reveals the impact of leasing on the development of the national economy, which can be taken into account when developing economic road maps. The study assessed the state of fixed assets of enterprises in Kazakhstan and expressed substantial need for their renewal, including financing through leasing. Within the framework of this scientific work, the main aspects of the development of the leasing market in Kazakhstan and its impact on the development of the national economy were considered. Particular emphasis is placed on studying the impact of developed leasing relations on the macroeconomic environment as an external environment, which also influences the development of leasing services. The work assesses individual tools and levers for implementing state support for leasing in Kazakhstan. Recommendations have been developed on instruments of state support for leasing in Kazakhstan that require further research, namely the direction of the impact of leasing on macroeconomic indicators, the use of the refined leasing potential for the development of SMEs, as well as the experience of other countries in the development of the leasing market and its applicability in Kazakhstan. Resolving these issues can contribute to the development of more effective measures for the development of the leasing market in the country on the principles of responsible investment.

PELAKSANAAN PENGEMBANGAN USAHA KECIL DAN MENENGAH DI DINAS KOPERASI DAN UMKM

This research focuses on the real problems in the implementation of micro, small and medium enterprise (MSME) development by the Sukabumi District Cooperative and SME Office. Some of the problems identified include budget limitations, barriers in access to mobilization, lack of communication, coordination and integration in handling and monitoring MSMEs. These problems reflect significant challenges in the development of MSMEs, particularly in Sukabumi District.
 This research adopts the concept of Imput, Process, and Output applied in Syafiie's theory (2011:102-103). This theory emphasizes that good results (Output) can only be achieved if the Input and Process are also good. Therefore, this research aims to improve the effectiveness and efficiency of the implementation of MSME development at the Sukabumi District Cooperative and SME Office by ensuring good and correct inputs and improvements in the process.
 The research method used is a qualitative approach with descriptive method. The informants in this study involved the Head of the Cooperative and SME Office, the Coordinator of the SME Empowerment Division, the SME Development Coordinator, and two MSME players from Sukabumi District.

THE IMPACT OF PERFORMANCE MANAGEMENT PROCESS ON THE ORGANIZATIONAL SUCCESS OF SMEs

Performance management is significant for profit making and implementation of SMEs plans. Performance management approach is very important as a system for development of SMEs results, development of employee results in their work, and for aligning the management of SME and employee results. Managing performance is process for raising organizational results by improving the performance of employee and teams. It is a method of creating better performance from the enterprises, teams and employee by accepting and managing results in the frame of agreed objectives, plans, norms, required skills and competencies. The main purpose is to create a highperformance culture in which employee and teams take responsibility for the continuous increase of business processes and for employee skills and achievements within a framework implemented by effective leadership. Its key aim is to motivate employees on doing the right things by achieving clarity of purpose. The processes of managing performance consist of agreeing objectives and results improvement and individual development plans, implementing the activities needed to achieve the goals and plans, checking progress in achieving the goals and assessing progress and achievements so that action plans can be agreed and prepared. Managing performance is an important part of efficient human resource management which helps enterprises to understand the efficiency of the people who work in them. The outcome of the process of managing results is conditioned by the support and commitment of the SMEs management. Managing performance have to reward individual achievement and development. The process of managing results requires that enterprises management ensure that activities of individuals, deliverables and outcomes are aligned with the enterprises objectives and, consequentially, help the SMEs to achieve advantages that are more competitive. The improvement of results of small and medium enterprises is a crucial part of the process of managing performance. The purpose should be maximizing high performance. In this paper we elaborate the relationship between the process of managing performance and enterprises success in Macedonian SMEs. The sample consists 44 SMEs which take attention to this challenge. Dates in this research were collected with structured survey, and the outcomes were processed with analytical method - SPSS.

WAYS OF ENSURING THE COMPETITIVENESS OF SMALL AND MEDIUM-SIZED MACHINE-BUILDING ENTERPRISES OF UKRAINE IN THE EUROPEAN INTEGRATION CONTEXT

The issues of the modern direction of sustainable development of the competitive machine-building industry in Europe and the possibility of transforming the experience of developed European countries into a strategy for the development of small and medium-sized machine-building enterprises in Ukraine are considered. It was noted that it is SMEs that are the basis for the development of the EU economy, and the rationale for this fact was given. It was emphasized that the engineering industry is the largest sector of the EU economy in terms of the number of enterprises, employment of workers, production and value added. It is assumed that it is the development of SMEs in the machine-building industry of Ukraine that will become a significant contribution to the accelerated restoration of the social and economic well-being of Ukrainian society during the period of the country's recovery. A comparative analysis of the numerical number of machine-building enterprises of various sizes is given both in the developed countries of Europe and in Ukraine. The need for the development and implementation of digital services in the machine-building industry of Ukraine, in accordance with the concept of Industry 4.0, was emphasized at all stages of the product life cycle to ensure the flexibility and competitiveness of SMEs. The barriers to the implementation of the 4.0 concept for the sustainable development of small and medium-sized businesses in the world are analyzed, and individual barriers are identified that today pose a threat to the development of the Ministry of Railways of Ukraine as a whole. It is noted that one of the biggest problems in the world development of the Ministry of Railways as a whole is the problem of training (retraining) a new generation of qualified personnel. It is concluded that in order to develop competitive SMEs in Ukraine in the context of its integration into the EU, it is necessary to pay attention to the training of highly qualified technical personnel who, on the one hand, can play the role of system integrators and implementers of Industry 4.0 tasks, and, on the other hand, be able to solve the associated problems of mechanical engineering technology from idea to product manufacturing using digital services based on a single digital core. The scientific value of the work lies in the substantiation of ways to ensure the competitiveness of SMEs based on the foundations of the symbiosis of education, science and manufacture on the basis of a single digital core.

PERBAIKAN TEKNOLOGI PROSESING PASTEURISASI PENGOLAHAN SARI MENGKUDU DI UD”ZAM” KABUPATEN JEMBER

East Java Province's sole producer of noni juice (NONI), UD. ZAM, was founded in 2014. Only noni fruit that meets very high quality criteria is used as the primary raw material for noni juice. Noni juice, also referred to as Tahitian Noni, is the principal product created after the noni fruit naturally ferments. Two primary challenges, specifically low quality assurance, are the focus of the 2023–2026 partner SME development roadmap, which was created in collaboration with the Implementation Team. The use of pasteurization technology using the double jacket method is the main goal of the effort. Surveys, the creation of double jacket pasteurization machines, installation, instruction, and field support are some of the activity methods used. The result of this community service project is a set of double jacket pasteurization machines that can effectively replace the outdated method of pasteurizing noni juice both technically and economically