Business Start-up Research Articles

Easy-Starter : An Online Crowdfunding Website Using Blockchain

Crowd funding is a method of internet fundraising that started out as a way for the general public to contribute small sums of money to support the initiatives of creative individuals. Crowdfunding allows individuals to invest in start-up businesses by going via a middleman, like a broker-dealer. The present websites have an issue in that they don't offer the Donor Guarantee Policy and they don't have authority over the funds that donors donate. In this paper, we propose to use blockchain technology for crowdfunding. By doing this, we are able to offer a transparent, safe, and safe crowdfunding process. This article aims to facilitate the creation and funding of campaigns by offering interactive forms for campaign designers and funders to easily construct and approve initiatives. The money that was donated to them can be tracked by the donor. Every transaction will be captured by the blockchain and stored as a block. There are costs involved, a chance of failure, and crowd fundraising is not a charity. This is where blockchain technology comes in to offset the possible dangers associated with the traditional fundraising approach. By using a decentralized approach to crowd funding, we can completely eliminate any dangers associated with the traditional crowdfunding model.

Teaching Factory Management on Vocational High School Case Study: Arts and Creative Industry Competency

Vocational High School (VHS) students have the limitation of places and time for internships that can be overcome by establishing a teaching factory (TEFA) in schools. The purpose of this study is to show the implementation of teaching factory management in vocational high schools with art and creative industry competence. This research used the survey method. The respondents were students and teachers. The Questionnaire and interview were analyzed descriptively with words. The results showed that the implementation of TEFA management was well planned and socialized around the school. The actuating of TEFA improved student skills in production and had a positive effect on the work readiness of vocational students. TEFA also considered entrepreneurship skills based on business principles and culminated emersion of new creator in creating start-up businesses in the creative industry. TEFA does not only involve schools and industries but also requires the third parties outside of schools, such as the government as the regulator; meanwhile the community is the recipient of products/ services from TEFA.

Economic Environment and Entrepreneurial Development in North Central, Nigeria

This work sought to determine the impact of Economic Environment (EE) and Entrepreneurial development in North central, Nigeria. The unprecedented factors arising from inconsistencies, to lack of continuity of policies and programmes implementation constitute a lot of constraints that impede on the establishment, growth and development of Small and Medium Enterprises (SMEs) in the North central, Nigeria. The specific objectives of the study were to: (i) Ascertain the extent to which unemployment rate effects start-up business and entrepreneurial development in North central, Nigeria. (ii) Evaluate the extent to which total tax rate effects the growth of business enterprises in North central, Nigeria. (iii) Assess the extent to which domestic interest rate by banks to private sector impact on entrepreneurship development in North central, Nigeria. The study adopted survey research design, and ex-post facto, the population of the study was 18,173 staff made of owner-founder and management staff, from 2,178 private enterprises that registered with the respective state ministries of trade, commerce, industry and tourism in North central, Nigeria. A sample size of 377 was drawn from the population using Krejcie and Morgan (1970), sample size determination. The instrument used for data collection was mixed method: Quantitative method (structured questionnaire) and Ex-post facto (secondary data). The hypothesis were tested using Augmented Dickey-Fuller (ADF) and Phillips Perron (PP) to ascertain the time series properties of the variable for hypothesis one. Hypotheses two and three were tested using simple linear regression. The findings revealed that, to a large extent the listed Economic factors had significant negative relationship with entrepreneurial development in North central, Nigeria. Based on the findings of the study it was recommended that, there should be strategic policy by government and individual put in place to ensure substantive numbers of work force engaged in both private and public sectors; government should encouraged entrepreneurial development by enforcing on financial institutions to issue one-digit interest rate loan to entrepreneurs and business concern to boost business activities in the region. More so the issue of double taxation on entrepreneurial activities should be minimized or avoided to provide a level plane ground for business enterprises to strive, grow and develop in North central, Nigeria.

Exploring the Role of Accounting Practices and Financial Analysis: A Case Study in Perfect Zone Buraidah

This compelling case study delves into the critical role of accounting techniques and financial analysis in business management. The study explores the obstacles faced and the tactics used to overcome them by drawing on the firsthand experiences of an accountant at a startup business. The study emphasizes the importance of precise inventory management, budgeting and forecasting, financial monitoring, and sales performance analysis in attaining long-term growth and profitability. The findings emphasize the significance of combining accounting theories and practices in order to make informed decisions and achieve financial success. The study continues by underlining the importance of continuous financial planning and adaption in order to support long-term corporate growth.

Business Model for Small-Scale Artisan Tea Family Business

Business Model for Small-Scale Artisan Tea Family Business

PERFORMANCE ANALYSIS OF BUSINESS STARTUP WEBSITE USING GT-METRIX WITH WATERFALL SOFTWARE DEVELOPMENT LIFE CYCLE METHOD

Business ventures began to expand towards technology that initially used conventional sales and payment methods, then developed by young people who saw business opportunities could be simplified in an easy way but had a lot of profit. They utilize computer technology by creating ways to sell through online, namely website media as startup business people. The purpose of the study was to analyze the performance of the "bikinian ibu" website with a http://bikinanibu.lovestoblog.com/ url address. Analysis activities in the form of measuring website speed performance, testing browser timing, testing Tab Structure, Testing Tab Waterfall in diagram form, Testing Tab History, Testing website vitals, Testing Tab Speed. The method used is the Waterfall method by following the following stages: analysis, design or design, coding, testing and maintenance. Based on the results of testing the performance of the "mother-made" website in the GTMetrix section, a Performance analysis score of 93% was obtained, CLS (Cumulative Layout Shift) has not shown good results because it exceeds the maximum standard score on CLS (Cumulative Layout Shift), the structure score covers 89% with the grade A category which means it shows good results. Website loading time also shows good results, website testing looks like there are constraints in the medium and low urgency categories. On the Waterfall tab of the website in the form of waterfall chart results there are 2 404 errors, 20 requests with a total file size of 622KB and 0.96MB for uncompressed files, while the time to load the website is 1.4 seconds. From the results of the Total Page Size of the website is 624KB, while the total page request is obtained as much as 20.

INVESTIGATING THE ROLE OF AGRI-TECH STARTUP IN SUPPORTING INCLUSIVE FINANCE FOR FARMERS IN INDONESIA

Small-scale farmers are often financially excluded due to limited access to formal financial services. For decades, the Indonesian government has launched credit programs for farmers' financial inclusivity. However, it has yet to improve farmers' access to financial services significantly. The Indonesian government has encouraged financial technology providers to enhance credit financing for farmers. Besides fintech startups, agri-tech startup companies have helped provide digital financial services to the agricultural sector. This study aimed to analyze different types of agricultural startup businesses in supporting inclusive finance for farmers. This study uses a qualitative approach by conducting an online semi-structured interview as a data collection technique for four agri-tech startups and two experts. The data was analyzed by template analysis. The result showed that the presence of agri-tech startups could enhance farmers' opportunity to access new financial sources –either through crowdfunding or internal company financial resources - which is better than the existing financing schemes. However, several challenges arose regarding the existing culture that caused farmers to hesitate to join the agri-tech startups' program. Other challenges related to intermediaries' power in agricultural business that had strong ties with farmers' lives are the lack of infrastructure such as road and internet access and farmers' skill in using digital technology. Agri-tech startups have reduced those challenges by sending agriculture experts to the farmland, building intense communication with farmers, cooperating with intermediaries, and providing training for young farmers and farmer's children to optimize the use of smartphones in supplying agriculture knowledge and business.

Designing a System to Empower Startup Businesses for Evaluating Digital Health Products

Introduction: Given the emergence of startup businesses in digital health and the importance of their products for human well-being, there is a critical need for consistent and continuous evaluation of these products. Therefore, producing high-quality and standard products in the health sector helps maintain the competitive market both nationally and internationally. Due to the lack of an evidence-based system that provides comprehensive educational information and an empowerment platform in health fields, this study aimed to design a system for empowering startup businesses to evaluate digital health products.Material and Methods: This study was conducted in three phases: 1) descriptive, 2) development, and 3) evaluation. In the first phase, data elements and functional and non-functional requirements were identified through a literature review and validation by experts. In the second phase, the system was developed using SQL Server 2019, C# language, and an interface was created using ASP.NET Core in Visual Studio 2022, along with programming languages HTML, CSS, Bootstrap, and Java to design a database. In the evaluation phase, the designed system was assessed based on Nielsen’s questionnaire and usability indicators.Results: Twenty functional and eleven non-functional components were identified for the design of the system, which were confirmed by related experts. The system comprises main modules, including educational resources, empowerment, a network of startups, a discussion forum, experiences, and a library for evaluating digital health products. In the empowerment section, the modules of consultation, webinars, coaching programs, tools, indicators, and evaluation frameworks were developed and implemented. The highest average severity of issues was related to the error prevention section rather than reminders, while the lowest average severity of issues was associated with the consistency and standards principle.Conclusion: The design of empowerment systems in startup businesses can provide a suitable platform for enhancing evidence-based evaluation for their companies.

The Role of E-Commerce in Encouraging the Indonesian Economy during the Covid-19 Epidemic as a Form of Modern Entrepreneurship

The number of sectors in online business makes business actors who want to invest need to guess what online businesses are popular and profitable in the current era of the COVID-19 pandemic, such as e-commerce, edutech and health. startup business sectors, precisely because of this pandemic, experienced a significant increase in business where online health platforms such as Halodoc became popular because they helped the public who only wanted to consult and diagnose health online. The e-commerce business is also a major need for the public in transacting on during this pandemic, considering that people are afraid to shop directly so that purchases of some necessities are made online through e-commerce platforms. In addition to the well-established national e-commerce business platforms, local e-commerce platforms are also emerging, especially to meet basic needs. Young people in several cities create local e-commerce platforms to help the process of buying goods from consumers to the market. Next, there are startup business collaboration tools, such as the Zoom and GotoMeeting applications, which have become popular in the era of the COVID-19 pandemic. Foreign companies have taken opportunities in this sector, considering that there are still few or no players taking advantage of the collaboration tools startup business. People are increasingly avoiding public places and offline retail stores, so online sales for some sectors are increasing. Reporting from neilpatel.com, conversions for the food, health and pharmaceutical sectors increased significantly. The food sector experienced an increase of 55%, health 19%, and pharmaceuticals 11%. In the United States alone, online sales are predicted to increase by up to 12% of their total spending in 2020. From these results, it can be concluded that behind the many benefits of online e-commerce business, there are still many impacts for other offline businessmen who do not use media. social as a means of business.

Assessment of Hygiene Management Practices and Comparative Analysis of Regulatory Frameworks for Shared Kitchens across Different Countries.

Shared kitchens, where users share kitchen space, are becoming popular worldwide due to the economic cost savings of startup businesses. This study conducted monitoring of microbial and chemical hazards from prepared foods and the environment of shared kitchen facilities, surveyed shared kitchen operators, and compared shared kitchen regulations between Korea and other countries. The monitoring results indicate that the hygiene status of the facilities and the microbial and chemical hazards in the prepared foods were all within the standard specifications, showing significantly lower levels compared to regular restaurants (p < 0.05). In particular, concurrent-use and time-division types of open shared kitchens showed significantly lower levels of both hazards than separated-individual kitchens. Survey results of hygiene inspection also confirmed better hygiene management in concurrent-use and time-division types of open shared kitchens in Korea. However, more frequent cleaning and disinfection, hygiene inspections, and training are high economic burdens in the operation of shared kitchens compared to regular restaurants. Moreover, mandatory insurance subscriptions, the operator's responsibility in hygiene-related incidents, and high operational costs collectively challenge shared kitchens' competitiveness in the food service market. Critical reassessments of regulations utilizing the benefits of shared kitchens are needed to promote a safe dining culture and the growth of shared kitchen startup businesses.

Achieving Sustainability in Newly Founded Start-Up Businesses: Navigating Challenges and Gaining Insights

Entrepreneurs embody multifaceted roles as leaders, risk-takers, and learners, driving toward success while transforming dreams into reality. However, amid their journey, they encounter formidable challenges. Hence, this article delves into startup entrepreneurs' hurdles in fostering sustainability. Amidst today's focus on sustainability, startups must navigate obstacles to enhance customer ratings and long-term performance. Examining risk management models, implementing eco-friendly technologies, and refining marketing strategies are crucial. Moreover, fostering virtual collaboration among geographically dispersed employees is essential to mitigate external challenges and achieve sustainability. Through these endeavors, entrepreneurs pave the path toward enduring success in the dynamic landscape of startup ventures.

Implementation of Blue Ocean Strategy in Facing Business Competition: A Startup Case Study of Lapangbola.Com

Research aims: This study discusses the specific blue ocean strategy employed by lapangbola.com to emerge successful in the business competition.Design/Methodology/Approach: This study employed a descriptive qualitative methodology, utilizing interviews with relevant individuals (Operations and Marketing managers) from lapangbola.com. The analysis was conducted using the Blue Ocean Strategy, employing a strategy canvas, a four-step framework, and a six-step framework for data gathering.Research findings: A business competition strategy employs a blue ocean strategy approach that originates from business innovation, encompassing product development, operational enhancements, and the utilization of efficient digital marketing channels.Theoretical Contribution/Originality: This research serves as valuable information for decision-makers, particularly in startup firms, seeking to enhance their business growth by adopting a blue ocean strategy approach. The successful implementation of this technique by lapangbola.com, a startup business in the sports industry, further exemplifies its effectiveness.Practitioners/Policy Implications: Startup companies or businesses in the digital industry might employ a blue ocean strategy, characterized by a rigorous, flexible, and inventive approach, to analyze the market and formulate an effective formula for company development.Research Limitations/Implications: The limitations of this research are found in the secondary data (literature studies) used, this is because not many businesses have consciously implemented blue ocean strategy simultaneously using canvas strategies, 4-step frameworks and 6-step frameworks. More in-depth analysis is needed on the implementation of the blue ocean business strategy that will be carried out at each startup.

Resilience in Adversity: COVID-19 Pandemic Challenges in Diminishing Entrepreneurial Intentions and Business Startups

In this study, the researchers explore the effects of COVID-19-related challenges, such as fear and anxiety about COVID-19, the uncertainty of COVID-19, and the recognition of business opportunities for entrepreneurial intentions and business startups. This study used quantitative methods and based their findings on 278 usable samples collected from Egyptian entrepreneurs. Employing the Structural Equation Model (SEM) through SmartPLS4 shows that fear and anxiety arising from the COVID-19 pandemic harm entrepreneurial intentions and business startups. Moreover, the uncertainty of the COVID-19 pandemic and the recognition of business opportunities positively and significantly impact entrepreneurial intentions and business startups. In the context of the COVID-19 pandemic, this study’s findings support psychological well-being, reduce uncertainty, foster the recognition of business opportunities, and implement supportive policies to promote entrepreneurial intentions and successful business startups.

Women Tourism Entrepreneurs in KwaZulu – Natal, South Africa: Capabilities and Challenges?

This study conducted in the context of South Africa, aims to explore gender nuances in the performances of tourism-related businesses in the Durban Central Business District, KwaZulu-Natal, with emphases on traditional societal perceptions and access to capital. Questionnaire survey, a quantitative research method, was used to collect data from 150 tourism-related business owners and managers using purposive sampling method. Data was analysed using IBM’s SPSS version 25 software. Descriptive (frequency, mean), bivariate (Spearman’s Rank Correlation (two-tailed) test, Pearson’s Chi-Square test, Mann-Whitney U test) and multivariate (Reliability test using Cronbach’s Alpha) data analyses were applied in this study. Results shows that entrepreneurial performance is influenced by the belief system of the society, marketing capabilities, and the entrepreneur background. Hence, there may be the influence of African traditional societal perceptions on African women entrepreneurs to be more contented than men with the small size of their businesses (because society expects them not to manage large businesses). This study did not make a conclusive finding that gender plays a strong role in differentiating business success or performance. However, the study found that it is somewhat easier for female entrepreneurs to find business start-up capital. Based on this study results, authors recommend that entrepreneurial training and mentorship programmes should emphasise that gender has no role in determining entrepreneurial success. Better optimisation of marketing capability and increased awareness of entrepreneurs regarding sources of business funding, are crucial for business start-ups and success.

Does Financial Development and Improved Institutions Really Advance Formal Entrepreneurship in Developing Countries?

To effectively combat poverty worldwide, many development policies place particular emphasis on entrepreneurship, thanks to its ability to drive economic growth. However, there is the challenge of reducing the informal sector and promoting the formal sector. Many initiatives have therefore, been undertaken to promote formal entrepreneurship in developing countries, but little is known about the role of institutions and financial development. The aim of this article is to analyze the effects of financial development and institutions on formal entrepreneurship in developing countries. To achieve this, the system GMM method was applied to a sample of 94 developing countries between 2006 and 2018. It yielded the following results: financial development has a positive effect on formal entrepreneurship; institutions have mixed effects on formal entrepreneurship; institutions encourage financial development to foster formal entrepreneurship; and, other macroeconomic magnitudess have mixed effects. The study recommends that the leaders of these countries develop their financial systems, fight corruption more effectively, reduce regulatory constraints on business start-ups and encourage the achievement of economic policy objectives, in order to expand the size of the formal sector.

The evolution of regional triple helix food sector SME interventions: a longitudinal study, Wales, UK

ABSTRACT This paper explores the effectiveness of regional intervention strategies aimed at enhancing ‘low-tech’ SMEs’ sustainable competitive advantage and innovation activities, employing the food sector in Wales (UK) as a case study. It utilizes the triple helix model to analyse these interventions, emphasising collaboration between government, academia, and industry to stimulate knowledge-based economic development. The food sector represents an ideal subject for innovation-focused regional development policies because of its global importance, sustainability concerns, health impact and economic outcomes. A mixed-methods longitudinal case study approach was taken, evaluating a series of intervention programmes over an extended period (12 years in total), all funded by the European Union via the Welsh Government. Data sources included program reports, management committee reports, interviews, and case study testimonials. Frequent intervention activities included quality systems development, technical support, and skills training. They notably improved product and processing innovation for SMEs, key performance indicators revealing over 1,800 new products, safeguarding around 2,300 food sector jobs, and supporting 64 new business start-ups. Findings emphasized the value of consistent policies over an extended time period, albeit with the potential for lock-in effects. Future programme goals should be adapted for broader sustainable development outcomes – these are not uniquely Welsh challenges.

The Role of Entrepreneurship in Changing the Employment Rate in the European Union

AbstractThe aim of this research is to examine the role of entrepreneurship in changing the employment rate in the European Union (EU). With the aim of understanding the relationship between entrepreneurship and employment dynamics, this research investigates the impact of entrepreneurial activities on job creation, job opportunities, and overall employment trends across EU member states. By analyzing a comprehensive dataset encompassing various economic indicators and entrepreneurial metrics, including business startups, self-employment rates, and entrepreneurial ecosystem factors, this study provides insights into the mechanisms through which entrepreneurship influences employment in the EU. The analysis considers both the direct and indirect effects of entrepreneurship on employment, exploring how entrepreneurial ventures contribute to job creation, stimulate economic growth, and shape labor market dynamics. The findings of this study reveal that entrepreneurship plays a crucial role in changing the employment rate in the EU. Entrepreneurial activities, such as new business startups and self-employment, contribute significantly to job creation, particularly in sectors characterized by innovation, technology, and services. Furthermore, entrepreneurship fosters a dynamic and flexible labor market, promoting job opportunities and reducing unemployment rates. The study also highlights the importance of supportive policies, access to financing, and a favorable regulatory environment in facilitating entrepreneurship and its positive impact on employment. Understanding the role of entrepreneurship in changing the employment rate has implications for policymakers, practitioners, and stakeholders involved in fostering economic growth and labor market development in the EU. The findings emphasize the need to encourage and support entrepreneurial initiatives, provide resources and support mechanisms for startups, and create an enabling environment that nurtures entrepreneurship and innovation. By leveraging the potential of entrepreneurship, the EU can stimulate employment growth, enhance competitiveness, and achieve sustainable economic prosperity.

Evaluating Inspiring Factors and Obstacles in the Start-Up of Owned Agri-Preneurial Businesses: Underlying Evidence from South Africa

Evaluating Inspiring Factors and Obstacles in the Start-Up of Owned Agri-Preneurial Businesses: Underlying Evidence from South Africa

How does the JOBS act affect the rule 144A market?

AbstractIn this article, we examine the effects of Title II of the Jumpstart Our Business Startups (JOBS) Act on the cost and issue size of Rule 144 debts for a sample from 2002 to 2019. We find that after the enactment of the JOBS Act, the average cost (issue size) of the Rule 144 A offers decreases (increases) significantly. The findings are robust after controlling for issue‐, issuer‐, and country‐specific characteristics as well as market conditions. Evidence based on the propensity‐score‐matched sample, including public debt issues, subsample analyses, difference‐in‐differences tests, and alternative event windows, further shows that domestic firms benefit more from the JOBS Act as they have a greater reduction in the cost of debt and increase in the issue size. Overall, our results are consistent with the increased investor base hypothesis and suggest that Title II of the JOBS Act satisfies Congress's goal of making it more cost efficient for Rule 144 A issuers.

The effect of physical collateral and personal guarantees on business startups

Using microdata for Japan for 2007 and 2012, we examine whether and how financial constraints discourage individuals from starting a business. As proxies for financial constraints, we use prefectural variations in the share of firms relying on physical collateral and personal guarantees. We find that individuals are less likely to become nascent entrepreneurs if they live in a prefecture with a higher share of firms relying on personal guarantees. The negative effect of personal guarantees on becoming a nascent entrepreneur is insignificant when using a subsample for 2012, suggesting that administrative and legislative changes since the 2000s have made personal guarantees less costly for potential entrepreneurs over time. In contrast, we do not find a negative link between physical collateral and business startups. Our findings suggest that the low level of entrepreneurship in Japan is not due to financial constraints. If anything, it is due to a lack of risk-taking by potential entrepreneurs rather than a lack of collateralizable assets.