Start-up Capital Research Articles

Kewirausahaan Sosial dalam Perspektif Ekonomi Islam

Business is a movement to satisfy needs that are overwhelmingly popular by many gatherings. Business venture today has encountered a change in direction from one benefit to another situated to be a social mission. Social business venture/social business exercises viewed as an option in taking care of monetary issues social. As a country where most individuals are Muslims what's more, considering the inescapable development of social business venture, then Islamic financial matters accompanies a perspective on data about the connection between friendly business and the upsides of Islamic regulation. Social exercises business when seen from the execution program plays practically a similar part with the point of Islamic financial matters itself with an end goal to increment development and financial prosperity. This study utilizes the writing survey strategy, in particular by gather a few ideas that are ordered from the exploration factors then, at that point, consolidated into another logical review. Moreover, the reason for making This examination is to add a little reference to the investigation of Social Entrepreneurship in the viewpoint of Islamic Economics.

Seeking for effectiveness of sustainability entrepreneurial education programs: A multiple case analysis

ABSTRACT The urgency of environmental challenges necessitates educational programs that equip future entrepreneurs with practical sustainability-specific skills and knowledge. Accordingly, this article compares sustainability entrepreneurial education program cases using action research at the University of California San Diego (startBlue and Innovation-CORPS [I-CORPS]) and Cranfield University (Ideas-to-Innovation and [i2i] Energy Entrepreneurship) specific to pedagogical approaches like experiential learning, transdisciplinary collaboration, community mentors, and practical examples. Findings highlight multiple achievements—underrepresented founder involvement, United Nations Sustainable Development Goal alignment, and early value development signal identification. Practically, such insights can guide educators, policymakers, and program designers in enhancing sustainability entrepreneurial education, fostering innovation, and addressing local and regional sustainability challenges through collaboration and practical applications. Also, there are actionable recommendations to facilitate knowledge, skill, and competency development with entrepreneurs, investors, and other stakeholders, thereby aiding sustainability-focused venture development, growth, and success.

Navigating the digital shift: Exploring the online dimension in entrepreneurial ecosystems

ABSTRACT This study explores the increasingly important online dimension of entrepreneurial ecosystems (EEs), an area that has received little research attention despite its increasing relevance in today’s digital world. Focusing on the context of a university incubator, we aim to understand how integrating online elements into entrepreneurship support affects new venture development. Through semistructured interviews with entrepreneurs, our findings indicate that online elements facilitate access to vital resources and networks, yet they can also create new challenges related to diminished interpersonal interactions. This research provides insights for practitioners and policy makers, suggesting that effective support for entrepreneurship should balance online engagement with opportunities for personal connection. This study extends the discussion on the virtualization and digitalization of EEs and its implications for fostering entrepreneurial growth and ecosystem resilience.

Risk Attitudes and Sources of Finance: Evidence from Non-Farm Household Enterprises in Ghana

ABSTRACT Several theories in economics and finance suggest that risk attitudes play a vital role in economic choices, including being an entrepreneur and the choice of finance for businesses. However, there are limited empirical tests of these theories in the African context, where majority of firms are small and medium-scale enterprises. Using the 7th round of the Ghana Living Standards Survey (GLSS 7), this study estimates the effect of risk attitudes on the decision to own a household enterprise and the choice of finance by owners of household enterprises. The study finds no significant impact of risk aversion on household enterprise ownership. We find risk aversion to significantly influence the use of self-financing as start-up capital; however, after controlling for access to finance, this effect reduces. We also did not find a significant relationship between risk aversion and the use of loan financing as working capital. The findings from this study shed light on the risk management strategy of household enterprise owners and suggest that access to finance is an important determinant of sources of financing. Hence, to spur growth of these critical household enterprises, the essential role of access to finance should be addressed by policymakers.

중소벤처기업의 조직 내부역량 및 외부 환경동태성이 해외진출 결정의도에 미치는 영향 연구 : 해외네트워크 지향성 조절효과 중심

The international expansion of small venture companies is regarded as a crucial strategy for the survival and growth of these firms, particularly as it serves as a motivation for companies with limited resources and capabilities to enter foreign markets. In light of the increasing emphasis on the significance of internationalization for small venture companies within the current business environment, this study aims to identify the key factors influencing the intention to pursue international expansion among domestic small venture companiess. To this end, a research model was established, wherein internal organizational capabilities and external environmental dynamism were treated as independent variables, while international network orientation was considered a moderating variable. A survey was conducted with a total of 264 executives and managerial personnel (CEOs, executives, and department heads) from small venture companies to test the proposed hypotheses. The study first examined the causal relationship between internal organizational capabilities and external environmental dynamism (including market dynamism and technological dynamism) on the intention to engage in international expansion. Secondly, it assessed the moderating effect of international network orientation on the relationship between internal organizational capabilities, external environmental dynamism, and the intention to expand internationally. The findings of this research are as follows: First, internal organizational capabilities (including CEO global orientation, technological capabilities, market information utilization, and investment attraction capabilities) and market dynamism positively influence the intention to pursue international expansion, while technological dynamism was found to have a negative impact. Second, the study demonstrated the importance of international network orientation in moderating the relationship between internal organizational capabilities and the intention to expand internationally, thereby contributing new insights to the existing literature. Based on the results of this study, several implications for enhancing international expansion are proposed. First, the global orientation of the CEO emerges as the most critical factor in the decision-making process for international expansion, highlighting the need for dedicated programs to support CEOs in this endeavor. Second, small venture companies should focus on strengthening their internal organizational capabilities—specifically in terms of human resources, technology, market knowledge, and investment capabilities—while also developing strategies to expand their external networks for successful internationalization. Finally, it is essential for relevant institutions to collaborate in establishing training programs for market experts that are suitable for a knowledge-based society, thereby facilitating the international expansion of small venture companies.

Dealing with Failure: The Media’s Portrayal of Entrepreneurs in Croatia

Entrepreneurship and stigma have been subjects of interest in various studies within the entrepreneurship field. The evidence suggests that societal stigma may lead to the stigmatization of entrepreneurs who have faced business failure, potentially influencing their strategic decisions and the likelihood of re-entry into entrepreneurship. Additionally, the liability of newness and the stigma of failure are critical factors that shape entrepreneurial dynamics and outcomes in different national contexts. The fear of societal judgment and negative perceptions can deter individuals from engaging in entrepreneurial activities, hindering entrepreneurial risk-taking and innovation, and limiting the growth and development of entrepreneurial ventures. The societal stigma associated with business failure in former socialist economies has been a significant factor influencing entrepreneurial activities in these regions. Research has indicated that socialist ideology historically stigmatized private proprietorship, associating it with negative connotations such as parasitism, exploitation, and profiteering. This lasting stigma has had implications for individuals pursuing entrepreneurial opportunities in post-socialist economies, impacting their perceptions and decisions regarding entrepreneurship. The transition from socialist planned economies to market-oriented systems has brought about changes in attitudes towards entrepreneurship. While socialist legacies may have initially influenced societal norms and perceptions of entrepreneurship, the emergence of market economies has led to a reassertion of entrepreneurship in these regions. Numerous studies indicate that the way media depicts entrepreneurs and their ventures plays a crucial role in shaping the attractiveness of entrepreneurship as a career choice and in developing social norms pertinent to the entrepreneurial spirit. In our research, we utilize qualitative content analysis to examine the representation of entrepreneurship, including the successes and failures of entrepreneurs, in Croatian media. The findings reveal a dominant adverse perception of entrepreneurship as a career in Croatia, with entrepreneurs frequently depicted as tycoons. Additionally, since the 1990s, entrepreneurs have faced stigma, and there appears to be no evident direction for improvement in this area.

기업의 역량에 따른 정부 지원 혜택이 벤처기업의 장기 성장 전망에 미치는 영향

[Purpose] This study was designed to examine whether there is a difference in the impact of support for each company’s capabilities on long－term growth for venture companies. [Methodology] Analysis was conducted through a questionnaire method, using SPSS statistical analysis company, and multiple regression analysis method was used. [Findings] First, in a sample of all companies, it was found that the more financial support benefits and image benefits the company received, the higher the long－term growth prospects of the company. Second, in the sample divided by each competency, companies with high development capabilities were found to have higher long－term growth prospects as they received higher financial support benefits, and for companies with high manufacturing capabilities, companies with higher technical manpower benefits were found to have higher marketing capabilities. It was found that the higher the financial support benefits, the higher the long－term growth prospects. Third, in a sample where all companies were asked to select only one excellent competency for each company, companies with high development capabilities showed a negative significance in the long－term growth prospects of technical manpower deposits, and companies with high manufacturing capabilities showed negative significance. Technical manpower benefits and image benefits showed a significant positive relationship with long－term growth prospects, and companies with high marketing capabilities did not show a significant relationship with any benefits. [Implications] Through this study, it was empirically proven that government support is more effective when it provides benefits tailored to each company rather than universal support.

Making Soup from a Nail: Bricolage and Engineering in a Digital New Venture Development

Making Soup from a Nail: Bricolage and Engineering in a Digital New Venture Development

An integrated AHP-TOPSIS approach for bamboo product evaluation and selection in rural communities

This study introduces a decision support model integrating the Analytic Hierarchy Process (AHP) and Technique for Order of Preference by Similarity to Ideal Solution (TOPSIS) to select an economic tree product champion (bamboo) to benefit rural communities. An extensive literature review and expert discussions identified sixteen sub-criteria distributed across five main criteria. The study proposes four categories of bamboo products as alternatives, emphasizing community-level production capacity. The AHP determines priority weights, while TOPSIS prioritizes alternatives conducive to becoming the product champion within a community case study. The findings affirm the efficacy of Multi-Criteria Decision-Making (MCDM) in identifying a champion, with “Value addition potential,” “Domestic market demand,” and “International market (export) demand” identified as pivotal criteria. Bamboo culm-based products for energy-related applications emerged as the chosen product champion in a community case study in Thailand. This study offers practical implications for rural communities and potential investors in economic tree ventures, allowing the customization of decision criteria and alternatives for specific contexts. Socially, the focus on bamboo highlights diverse benefits along the entire supply chain, from upstream to downstream. The research pioneers a decision support model, providing insights into market opportunity analysis and supply chain network design based on the selected product champion.

Designing Career Management System Improvement for A Joint Venture Company

Designing Career Management System Improvement for A Joint Venture Company

Social Innovation in a University: Accelerator Programs of a Center for Social Entrepreneurship in the Philippine Setting

The paper traces the managerial plans and decisions made towards the development of the Center for Social Entrepreneurship of the University of San Carlos in Cebu City, Philippines under the auspices of the School of Business and Economics and Santa Clara University's Miller Center for Social Entrepreneurship in California. Using the action research approach, the Center and its two Accelerator Programs namely the Global Social Benefit Institute Boost and Online Accelerator Programs were studied. Participants for the first cohorts were called Potential Social Enterprises (PSEs) and Mature Social Enterprise (MSEs) for the Boost and Online Accelerator Programs, respectively. A total 27 PSEs and 5 MSEs joined the first cohort. Few scholars have studied accelerators that support social enterprises. In contrast to incubators, accelerators expose social entrepreneurs to market forces and provide the intense process of mentoring, education, and expansion of networks which have a lasting impact on participants. Overall, both Boost and Online Accelerator Programs proved effective in developing the competencies of the social enterprises. The results presented in this paper covers the period of implementation from the time the center was launched in February 2018 to February 2019. This study will cover the progress towards the center's goals, verifiable indicators, activities conducted, survey results, key insights and initial recommendations moving forward. The findings of the study support similar findings of other authors that accelerators for social enterprises play an important role in developing social ventures. Accelerators can contribute to the development of new ventures at several stages.

Food Franchise Business in Indonesia

This research analyzes market trends and key factors that influence the success of the franchise industry in Indonesia. Through a descriptive and exploratory approach, data was obtained from surveys, interviews, case studies, and document analysis. Market trends show diversification of the franchise sector and a shift in consumer preferences towards value-added brands. However, regulatory, technological, and fierce competition challenges also arise. Success factors for franchise businesses include a robust business model, strategic location, competent management, and smooth operations. Business models and management strategies support each other to achieve success. The government's role in developing the franchise industry includes clear regulations, training, and promotion. Popular food and beverage franchises in Indonesia, such as Ayam Sabana, Kebab Baba Rafi, and Tahu Jeletot Taisi, offer promising business opportunities with affordable start-up capital. Support from the management team and a proven business concept help strengthen the franchise's position in the competitive market.

ORGANIZATIONAL AND TAX ASPECTS OF THE FREIGHT FORWARDING ACTIVITIES IN BULGARIA

Svetoslav Iliychovski E-mail: s.iliychovski@uni-svishtov.bg Assoc. Prof. PhD, DA Tsenov Academy of Economics Svishtov, Bulgaria https://orcid.org/0000-0001-9947-8650 Teodora Filipova E-mail: t.filipova@uni-svishtov.bg Assoc. Prof. PhD, DA Tsenov Academy of Economics Svishtov, Bulgaria https://orcid.org/0000-0001-6584-5846 Abstract: The research is aimed at a specific sub-sector of the economy, with importance for the development of many business ventures. Knowledge of the main regulatory documents, the essence, the place and the role of forwarding in the company's processes is a leading factor for the accurate, reliable, timely and high-quality implementation of logistics. Freight forwarders act as intermediaries between consignors and transport operators when transporting goods between different countries. They organize all stages of the transport process and can also carry out the transport themselves. When sending goods on different routes, the participation of one or more carriers may be necessary, in addition, different requirements and conditions are imposed for the execution of the transaction. Forwarding services are intended to provide and coordinate the entire process of preparing and carrying out shipments in order to satisfy customer requirements. The aim is to analyze the main organizational aspects and the peculiarities of the taxation of forwarding activity in Bulgaria on the basis of theoretical studies and practical results. A historical approach, methods of synthesis, analysis and comparison are used. The time period is 2020, 2021, 2022. The leading thirty companies in the industry were analyzed, and results were compared based on revenue and dynamics of change. The regulations of the Commercial Law, tax and accounting acts have been interpreted. Basic schemes for organizing freight forwarding activities and features of taxation are commented on. On the basis of literary sources, official databases and own summaries, the main hypothesis has been proven, namely: the correct forecasting of the factors that influence the activity of forwarding companies and the choice of flexible solutions are a prerequisite for successful commercial activity. Keywords: freight forwarder, forwarding contract, transport, taxation., JEL classification: L91

Can Adopting Lean Startup Strategy Promote the Sustainable Development of New Ventures? The Mediating Role of Organizational Iterative Learning: A Review

Can Adopting Lean Startup Strategy Promote the Sustainable Development of New Ventures? The Mediating Role of Organizational Iterative Learning: A Review

IMPACT OF ENTREPRENEURIAL COMPETENCE ON VENTURE PERFORMANCE: THE MODERATING ROLE OF ENTREPRENEURIAL EDUCATION

This study investigates the impact of entrepreneurial competence on venture performance, with a particular focus on the moderating role of entrepreneurial education. Despite extensive research on factors influencing venture success, the interplay between entrepreneurial skills and education remains underexplored. This empirical study aims to fill this gap by examining how entrepreneurial education enhances the relationship between entrepreneurial competence and venture performance. Using a quantitative research design, data was collected from 212 entrepreneurs across various MSMEs industries across J&K UT. Entrepreneurial competence was measured using a comprehensive set of indicators, including innovation, risk-taking, and strategic planning abilities. Venture performance was assessed through financial metrics, market share, and growth rates. Entrepreneurial education was evaluated based on the depth and breadth of formal and informal educational experiences related to entrepreneurship. The findings of the research opened a significant positive relationship between entrepreneurial competence and venture performance (p < 0.01). Further, the analysis demonstrates that entrepreneurial education significantly moderates this relationship, amplifying the positive effects of entrepreneurial competence on venture performance (p < 0.05). Entrepreneurs with higher levels of education exhibited superior venture performance compared to those with lower levels of education, highlighting the critical role of entrepreneurial education in fostering successful ventures. These results underscore the importance of integrating entrepreneurial education into training programs to enhance the competencies of aspiring entrepreneurs. By doing so, educators and policymakers can better support the development of ventures, ultimately contributing to economic growth and innovation. This study given valuable insights for educational people, policymakers, and practitioners to promote entrepreneurial success through targeted educational interventions.

Livelihood Precarity of Migrants: Perspectives of African Refugees in Durban, South Africa

Migrants and refugees face numerous socioeconomic and institutional challenges in the host cities and countries. They are excluded from full participation in the labor market, which makes them vulnerable to poverty. To survive, migrants and refugees join the informal economic sector. Informed by the Sustainable Livelihoods Framework (SLF), the article examines how African refugees in Durban make and maintain their livelihoods, including their encounters with marginalization. Participants were drawn from Congolese, Rwandese, and Burundian community groups living in the inner city of Durban. The snowballing sampling method was key in identifying the participants, while face-to-face interviews were used for data collection. The findings show that African refugees in Durban pursue diverse forms of livelihood in the informal sector. They are faced with numerous challenges, such as a lack of start-up capital, weak social networks to protect themselves and their businesses, bureaucratic challenges, discrimination, and xenophobic attacks. Regardless of these challenges, migrants still forge ahead by starting their businesses and making a living under the circumstances of precarity and marginalization.

Availability of published evidence on coverage, cost components, and funding support for digitalisation of infectious disease surveillance in Africa, 2003–2022: a systematic review

BackgroundThe implementation of digital disease surveillance systems at national levels in Africa have been challenged by many factors. These include user applicability, utility of IT features but also stable financial support. Funding closely intertwines with implementations in terms of geographical reach, disease focus, and sustainability. However, the practice of evidence sharing on geographical and disease coverage, costs, and funding sources for improving the implementation of these systems on the continent is unclear.ObjectivesTo analyse the key characteristics and availability of evidence for implementing digital infectious disease surveillance systems in Africa namely their disease focus, geographical reach, cost reporting, and external funding support.MethodsWe conducted a systematic review of peer-reviewed and grey literature for the period 2003 to 2022 (PROSPERO registration number: CRD42022300849). We searched five databases (PubMed, MEDLINE over Ovid, EMBASE, Web of Science, and Google Scholar) and websites of WHO, Africa CDC, and public health institutes of African countries. We mapped the distribution of projects by country; identified reported implementation cost components; categorised the availability of data on cost components; and identified supporting funding institutions outside Africa.ResultsA total of 29 reports from 2,033 search results were eligible for analysis. We identified 27 projects implemented in 13 countries, across 32 sites. Of these, 24 (75%) were pilot projects with a median duration of 16 months, (IQR: 5–40). Of the 27 projects, 5 (19%) were implemented for HIV/AIDs and tuberculosis, 4 (15%) for malaria, 4 (15%) for all notifiable diseases, and 4 (15%) for One Health. We identified 17 cost components across the 29 reports. Of these, 11 (38%) reported quantified costs for start-up capital, 10 (34%) for health personnel compensation, 9 (31%) for training and capacity building, 8 (28%) for software maintenance, and 7(24%) for surveillance data transmission. Of 65 counts of external funding sources, 35 (54%) were governmental agencies, 15 (23%) foundations, and 7 (11%) UN agencies.ConclusionsThe evidence on costing data for the digitalisation of surveillance and outbreak response in the published literature is sparse in quantity, limited in detail, and without a standardised reporting format. Most initial direct project costs are substantially donor dependent, short lived, and thus unsustainable.

How Founders Harness Tensions in Hybrid Venture Development

How Founders Harness Tensions in Hybrid Venture Development

Corporate social responsibility and the socio-environmental impact of small fast food businesse

Corporate Social Responsibility is the moral commitment that businesses have towards the environment, society, and the economy. The goal is to identify the impact of Corporate Social Responsibility on the socio-environmental dimension of skewers and hamburgers businesses in the Chone canton. The target population for this study consists of businesses engaged in the sale of skewers and hamburgers. This research adopts a mixed approach (qualitative and quantitative), allowing the authors to analyze and interpret data to uncover research facts and determine results in order to comprehend the phenomenon and/or problem under study. Data collection employed interviews, surveys, and observation sheets as research techniques, with the questionnaire serving as the instrument to conduct fieldwork based on a pre-selected sample. Among the most relevant results, it was found that 65% of respondents indicated unfamiliarity with the application of CSR, suggesting that there is much to be done in this area, crucial for the sustainable development of ventures.

Primary health care challenges: insights from older people with multimorbidity in Malawi – a qualitative study

BackgroundThe global population is undergoing a significant surge in aging leading to increased susceptibility to various forms of progressive illnesses. This phenomenon significantly impacts both individual health and healthcare systems. Low and Middle Income Countries face particular challenges, as their Primary Health Care (PHC) settings often lack the necessary human and material resources to effectively address the escalating healthcare demands of the older people. This study set out to explore the experiences of older people living with progressive multimorbidity in accessing PHC services in Malawi.MethodsBetween July 2022 and January 2023, a total of sixty in-depth interviews were conducted with dyads of individuals aged ≥ 50 years and their caregivers, and twelve healthcare workers in three public hospitals across Malawi’s three administrative regions. The study employed a stratified selection of sites, ensuring representation from rural, peri-urban, and urban settings, allowing for a comprehensive comparison of diverse perspectives. Guided by the Andersen-Newman theoretical framework, the study assessed the barriers, facilitators, and need factors influencing PHC service access and utilization by the older people.ResultsThree themes, consistent across all sites emerged, encompassing barriers, facilitators, and need factors respectively. The themes include: (1) clinic environment: inconvenient clinic setup, reliable PHC services and research on diabetic foods; (2) geographical factors: available means of transportation, bad road conditions, lack of comprehensive PHC services at local health facility and need for community approaches; and (3) social and personal factors: encompassing use of alternative medicine, perceived health care benefit and support with startup capital for small-scale businesses.ConclusionThis research highlights the impact of various factors on older people’s access to and use of PHC services. A comprehensive understanding of the barriers, facilitators, and specific needs of older people is essential for developing tailored services that effectively address their unique challenges and preferences. The study underscores the necessity of community-based approaches to improve PHC access for this demographic. Engaging multiple stakeholders is important to tackle the diverse challenges, enhance PHC services at all levels, and facilitate access for older people living with progressive multimorbidity.