Sustainability Of Small And Medium Enterprises Research Articles

Social Media Usage and SME Firms’ Sustainability: An Introspective Analysis from Ghana

Social media is gradually transforming diverse business ecosystems due to the limitless capabilities they offer. Given this, emerging businesses across the globe are leveraging this innovation to improve their operations. While the literature on the usage of social media by small and medium enterprises (SMEs) is still emerging, the outcomes from existing research have not been coherent. Amid this, limited empirical evidence has been adduced on the affordance of the technology for the SME ecosystem in developing economies, particularly Ghana. Following this, this study aims to fill this research gap by investigating the impact of social media usage on the long-term sustainability of SMEs, specifically in Ghana. Using empirical data from 424 respondents who are representatives of manufacturing SMEs in Ghana, using SmartPLS techniques, the study confirmed that, generally, social media usage does not only have a positive impact on SMEs but drastically drives their motivations towards resilience and sustainability. The results further revealed a positive and significant effect of social media usage value creation, business connections and opportunities on SMEs’ sustainability. This study contributes to knowledge of social media usage and sustainability from a developing country’s perspective. This study offers several implications for theory and practice.

Post-Pandemic Sustainable Strategies for Nigerian Small- and Medium-Sized Enterprises

The sustainability of small and medium enterprises (SMEs) has gained much attention from policymakers and scholars in the past decade. Undoubtedly, the emergence and corresponding consequences of the COVID-19 pandemic have ignited much inquisitiveness from researchers regarding the sustainability and viability of small- and medium-sized enterprises. Consequently, this study carried out an empirical exploration of feasible strategies that can be utilized and employed by SMEs in Nigeria in the post-COVID-19 endemic era. In the course of the study, four SME sustainable strategies were developed from the analysis conducted thematically, namely cost-minimization measures, mastering customer relationship dynamics, creativity and innovation, new-culture embrace and collaborative strategies. The findings derived from the study are expected to be of great assistance to practitioners and policymakers in making thorough and comprehensive decisions that are related to the sustainability of SMEs in Nigeria anchored on empirical evidence.

Impact of Government Sustainable Development Programs during COVID-19: A Study of SMEs in Nigeria

This study investigates the impact of government sustainable programs on the growth of small and medium enterprises (SMEs) in Nigeria amidst the COVID-19 pandemic. It employs a survey methodology to study the developmental factors of SMEs in Nigeria. The study population consisted of 580 registered SMEs in the Wuse business district in Abuja, with a sample size of 130 respondents. Questionnaires were distributed to the above respondents, out of which 100 fully submitted their responses. To achieve the objectives of the current study, hypotheses were tested and analyzed by using a multiple linear regression model. The findings revealed that survival funds have a considerable influence on the growth and sustainability of SMEs in Nigeria. It was also discovered that free business name registration has a major influence on the growth of SMEs. Moreover, it was found that government incentives are significant to maintain the sustainability of SMEs. Furthermore, the study concluded that SMEs performed effectively well with the aid of government sustainable programs. These intervention programs take the form of an intervention strategy which is an essential part of the current study’s objectives. These include survival funds, free business registration, and government incentives. The current research provides a significant knowledge of structured progressive programs for the policymakers and aids future planning.
 Keywords: government sustainable programs, intervention programs, small and medium enterprises (SMEs), survival funds, sustainability

CRM software as a service and importance of the approach for SMEs

CRM is “old news” in large enterprises. On the other hand, in ever evolving economies where the strongest prevail, causing mergers and survival of the fittest (and the largest), it is increasingly difficult for small and medium enterprises (SMEs) to gain new customers and to retain old ones. Being able to timely understand customer habits, their needs and drivers is substantial for all businesses, large or small. Some of the core CRM software functionalities and reports will help SMEs to get comprehensible picture of their customers, key drivers of their businesses and the path their companies are taking. In this paper, importance of having CRM software, especially under SaaS licensing, understanding data it provides and using both to increase customer satisfaction and retention for SMEs will be discussed. Some of key performance indicators (KPI) will be explained, including how they can influence the increase revenue and enable sustainability and longevity of SMEs.

Sustainable Workplace Mental Well Being for Sustainable SMEs: How?

Sustainable mental health and wellbeing (MHW), as addressed under SDG3, is crucial for achieving sustainable development, notably for sustainable SMEs growth. MWH is specifically interlinked with SDGs 8, 9 and 11: Economic growth and prosperity, sustainable communities, innovation, and jobs. Studies show over 200 million workdays are lost due to poor MHW each year, referring to the global cost of $1 trillion/year in lost productivity and it is increasing every year. Poor workplace MWH is almost an epidemic after COVID-19. It will be a significant challenge for a long time, in particular for SMEs which are hit hardest by the pandemic, as MHW problems have been shown to be a COVID side effect among 1:5 people. Despite the multifactorial aetiology of MHW (individual, social, environmental, and organizational), interventions for workplace MHW mostly refer to ‘one size fits all’ and top-down solutions, primarily asking for the commitment and behaviour change of employees; that has shown to be ineffective. The main assumption underlying the present work is the need for a proactive and tailored MHW frameworks that can be blended to organizational policies. The objective which corresponds to the main purpose of the paper is to provide a 5-staged MWH model, stemming from our evidence-based studies, that may speak for the identified need. We also discuss how the Model can provide a route map on how SMEs can implement and measure SDGs relevant to their business in synergistic interaction with SDG3.

Optimizing the Financial Performance of SMEs Based on Sharia Economy: Perspective of Economic Business Sustainability and Open Innovation

Optimal financial performance based on the use of sharia fintech followed by the stability of Small and Medium Enterprises (SMEs) will have an impact on economic growth. This study aims to analyze the financial performance of SMEs from a sharia economic perspective; analyzing the effect of using sharia fintech on the financial performance and sustainability of SMEs and strengthening human resource capacity, business diversification, business productivity, and product marketing to improve financial performance and business sustainability of SMEs. The study uses a quantitative survey approach. Data were obtained through questionnaires distributed to 350 respondents in 15 districts in the city of Makassar. The results of the study show that human resource capacity and business diversification affect the financial performance of SMEs by 41.8%. Sharia fintech, human resource capacity, business diversification, business productivity, and financial performance have a positive effect on SME business sustainability with a determination coefficient of 65.9%. This study recommends the management of SME businesses based on the use of sharia fintech in supporting the sustainability of SME businesses in Makassar, Indonesia.

Antecedent Online Marketing Success Bali SMES New Normal Covid-19 Era

ABSTRACT
 New normal Covid-19 situation, causing a change of human behavior which tends to limit physical contact. Marketing strategy by utilizing social media is quite effective to apply. Social media seems to be a particular engagement in life. The study aims to explain the effect of social media marketing engagement, e–WOM, and online purchases on online marketing success and explain the role of e-WOM engagement and online purchasing as a mediating relationship between social media marketing engagement on online marketing success. The study is conducted on Small and Medium Enterprises (SMEs) in Bali that utilizes social media in promoting their products, using a sample of 210 respondents. The results of the analysis are expected to be used as consideration by producers and marketers, to be able to compete in the new normal era of Covid-19. For the government, expected to be an input in policymaking that encourages the pace of Bali's economic growth in the new normal era of Covid-19. The development of the model that becomes the output of this research is a research model related to the development of research variables. There has been no research that has developed a relationship model of social media marketing engagement, e-WOM engagement, online purchases on online marketing success for SMEs in Bali who have implemented marketing by utilizing social media technology. Thus, it is essential to explore the role of technology in developing SMEs in Bali, and it is necessary to conduct more specific research on the relevant variables in implementing a sustainable SMEs marketing strategy.
 Keyword: Social media e-WOM, online purchases and online marketing success

Travel-Business Stagnation and SME Business Turbulence in the Tourism Sector in the Era of the COVID-19 Pandemic

The COVID-19 pandemic, apart from having an impact on public health, has also caused the stagnation of travel-bureau businesses and the management of small and medium enterprises (SMEs) in the tourism sector. This study aims to analyze the COVID-19 pandemic as a determinant of travel-business stagnation and turbulence in small and medium enterprises (SMEs), the influence of human resources, business development, and product marketing on the productivity of the travel and SME business, the direct and indirect effects of business innovation, economic digitization, and the use of technology on business stability and economic-business sustainability. This study uses an explanatory sequential qualitative–quantitative approach. Data were obtained through observation, in-depth interviews, surveys, and documentation. This study is focused on assessing the efforts made by travel-agency-business actors and SMEs in responding and adapting to changes in the business environment, both internally and externally. Human resources, business development, and product marketing together affect the productivity of travel agents and SMEs with a coefficient of determination of 95.84%. Furthermore, business innovation, economic digitization, and the use of technology simultaneously affect business stability with a coefficient of determination of 63.8%, and business stability affects the sustainability of travel and SMEs with a coefficient of determination of 67.6%. This study recommends a strategy for travel-agency-business sustainability and the stability of SMEs’ economic-business management towards increasing economic growth in the North Toraja Regency, South Sulawesi, Indonesia.

Technological Innovation, Sustainable Green Practices and SMEs Sustainable Performance in Times of Crisis (COVID-19 pandemic)

COVID-19 restrictions significantly affected SMEs, which have faced many challenges to their sustainability within this fragile new environment. This study proposes a holistic framework of sustainable performance by interrelating factors showing robust associations to produce this effect' for achieving sustainable performance in SMEs, through integrating the Technology Organisation Environment (TOE) and Resource Based View (RBV) models, to test how sustainable green practices can process the TOE factors when affecting sustainable performance. The research focuses on SMEs with worldwide employees and involves data collected from a range of different employees belonging to four different managerial levels. The process incorporated the analysis of 669 questionnaires to test the proposed hypotheses using structural equation modeling. Findings suggest that, together, TOE factors represent crucial inputs for green practices such as green training, green performance appraisal, that, in turn, mean critical processes lead to sustainable performance (output). Additionally, the findings should also inspire SMEs to focus even more effort on internal technological and organisational factors and to encourage an eco-friendly culture that would demand stakeholders adopt a more positive environmental stance.

Covid-19 Pandemic and the Informal Sector in Nigeria: Implications for Sustainable SMEs

The Covid-19 epidemic has generated an unprecedented health crisis, with numerous terrible outcomes, and has impacted every element of social and corporate activity around the world, putting around half of the world's economic activity under stress, as well as supply chains. This study examined the implication of Covid-19 pandemic on the sustainability of small and micro entrepreneur business in the informal sector in Nigeria with specific focus on Ose market in Onitsha, Anambra State. The study specifically analyzed the effect of covid 19 on informal SME, extent of risk and vulnerability and how small and micro businesses were sustained within the period of pandemic. Multi-stage, purposive and random sampling techniques were used in selecting 150 small and micro entrepreneurs business in the informal sector in Onitsha from which data used for the study were collected. Primary data was collected using questionnaire instruments. The study reveals that, Covid-19 exerted significant effect on small and medium scale entrepreneurs in the informal sector and that small and medium scale businesses are vulnerable and prone to risk. The study therefore, recommends among other things that government should provide safety net to small and medium scale business in form of zero interest loan and other forms of government assistance in order to cushion the effect of covid-19.

Fostering sustainability: reinventing SME strategy in the new normal

PurposeThis paper aims to deliberate the significant impacts caused by the COVID-19 pandemic on small and medium enterprises (SMEs). It also discusses SMEs’ practical approaches to capitalise on the renewed opportunity in the new normal by expanding their businesses regionally and globally. This paper also discusses the tactical and strategic interventions SMEs need to take to charge forward.Design/methodology/approachThe resource-based view of the firm (Barney, 1991) is used to explain how SMEs develop a sustainable competitive advantage in the new normal. The resource-based view focuses on the link between strategy and firm internal resources. Drawing from the resource-based view of the firm, internal analysis of the resources that are regarded as sources of competitive advantage controlled by the SMEs is imperative in today’s business environment. Based on the resource-based view theory, this paper focuses on reinventing SME’s strategies in the new normal to foster sustainability.FindingsPost-COVID-19 pandemic, SMEs must essentially be dynamic, forward-looking and transformational in capturing the regional and global markets’ opportunities. They need to sharpen their internal competencies and realign their effective business strategy in seizing the vast opportunities in the international markets.Practical implicationsHow SMEs respond to COVID-19 has important implications for subsequent performance in the new normal. This study focuses on the different potential SMEs’ reactions to COVID-19 and how their strategy affects SMEs performance and fosters sustainability in the new normal.Social implicationsThe sustainability of SMEs is critical for the nation’s socio-economy. This study offers a holistic view of how SMEs respond to their challenges and help them choose the right business options.Originality/valueThis paper’s contents are solidly based on accumulated evidence, observation and critical arguments on the impacts caused by the COVID-19 pandemic that caused numerous challenges faced by the SMEs, with a specific focus on SMEs operating in Malaysia.

Development Strategy For Micro Small Business (Umk) During The Covid-19 Pandemic In Maluku Province

This research was conducted based on the reality of the research problem, where economic activity in SMEs is in a threatened position due to the COVID-19 pandemic. This study aims to analyze the internal and external sides of SMEs, measure financial stability and lending to banks, analyze whether credit provision has been efficient or not in improving banking performance for SMEs. In addition, strategic policy measures are taken through a roadmap for developing competitive and sustainable SMEs. The research method used is a survey method. The data obtained were processed based on the principles of descriptive statistics, namely the analysis of Non Performing Loans (NPL) to determine the ratio of NPL and the average NPL. The time period used for analysis needs is 2019 and 2020. The results of the SWOT analysis, Non Performing Loans (NPL), effectiveness and efficiency, indicate that banks have not been effective and not efficient in disbursing credit. This needs to be a concern for banks in disbursing credit to SMEs, by providing easy administrative requirements for SMEs proposing credit, so that SMEs can have business capital for the development of competitive and sustainable SMEs. On the other hand, the results of the NPL calculation are below 5%, this shows a healthy banking performance, meaning that there are no bad loans, as a result of relaxation and stimulus from the Government to SMEs when SMEs experience a chaotic situation due to the COVID-19 pandemic. Furthermore, a 5-year development plan was carried out, namely from 2020-2025, with the goal of strategic planning being competitive and sustainable SMEs based on e-commerce.

Influence of Digital Marketing, Knowledge of Information Technology On the Financial Performance of Small and Medium Enterprises (SMEs)

The COVID-19 pandemic has lasted almost two years. This has an impact on the sustainability of micro, small and medium enterprises (SMEs). Various efforts have been made to maintain the sustainability of SMEs, one of which is by adopting information technology in their marketing. This study aims to determine the effect of digital marketing, and knowledge of information technology on the financial performance of micro, small and medium enterprises (SMEs)This research is quantitative research. Data was obtained by using a questionnaire. The respondents in this study were SMEs actors in Kapanewon Tempel Sleman Yogyakarta. From the number of SMEs actors who are members of the SMEs Forkom as many as 110 respondents, data is obtained as many as 60 respondents. This study was analyzed using multiple linear regression analysis. Based on the results of data processing, it is known that the use of digital marketing by SMEs actors and SMEs actors' knowledge of information technology affects financial performance.

An Operational Framework Model for Geospatial Business Impact Analysis in West Coast of Sabah, Malaysia

Population expansion and rapid urbanisation rate coupled with extreme changes of weather conditions have triggered more frequent disaster occurrences resulting in bigger economic and commercial losses. Like many other economic sectors that contributed significantly towards local socio-economic development, the small and medium enterprises (SMEs) also were not spared from being affected and/or disrupted by disaster events. In 2020, SMEs in Malaysia represented 98.5% of local business establishments and contributed approximately 41% to the country’s GDP. Although Malaysia can be considered a relatively safe and stable country from a political and socio-economic tussle, as a country with tropical climate, Malaysia, is highly vulnerable to the risk of flooding, landslide and mudslide which jeopardise the sustainability of local SMEs in the long run. Unfortunately, until today, there is no locallydriven comprehensive framework for promoting SMEs resiliency that has been developed particularly in disaster-prone areas. In this light, advanced geospatial technology that has been widely used in mapping for various purposes can be utilized or integrated into mapping of disaster risk profiles and providing significant inputs for establishing Business Continuity Planning (BCP) for disaster-prone areas. Using business impact analysis (BIA) approach, this study explains the operational framework model for business continuity and recovery. The case study of local SMEs in West Coast Sabah, Malaysia was adopted to explain the impacts of the 2015 earthquake and its cascading geohazards to local SMEs including severe disruptions to the main lifeline facilities e.g. telecommunication, electricity and transportation. The research design is based on the qualitative and quantitative methods including guided interviews with the affected local SMEs groups. The proposed operational framework is a result of integrated smart geospatial solutions for advancing business continuity and resiliency for SMEs in disasterprone areas.

The effect of leadership style and innovation capital on SMEs sustainability performance from a managerial perspective

Small and medium enterprises (SMEs) face various challenges in sustaining their operations in the global business competition. In line with the resource-based view (RBV), SMEs need to utilize their available assets, including the right leadership style and innovative initiatives, to create a competitive pursuit of sustainability performance. An effective leadership style should be adaptable and flexible, manifesting in different scenarios of varying leadership behaviors. Meanwhile, innovation capital is a valuable asset that may help businesses create value in today's economy and encourage employees to be more creative. However, there has been little empirical research on the impact of leadership styles and innovative capital on sustainability performance from the emerging economies perspective. Hence, this study aimed to test the relationship between innovation capital, leadership styles, and sustainability performance of SMEs. Data were collected from 111 SMEs in Malaysia and analyzed using IBM SPSS. The results revealed that leadership styles and innovation capital have significant positive relationships with sustainability performance. This study contributes to the literature on the sustainability performance of SMEs and helps leaders strategize the appropriate leadership approaches and innovation capital to achieve sustainable performance.

Innovative Finance, Technological Adaptation and SMEs Sustainability: The Mediating Role of Government Support during COVID-19 Pandemic

Small and medium enterprises (SMEs) survival is critical for economic sustainability due to the multifaceted role of the economy. Thus, halting SMEs operation hurts the aggregate economy. During the present pandemic, SMEs’ sustainability in Bangladesh is under-challenged because of limited market demand, supply constraints, financial incapacity, and capital restrictions. However, with the concerted effort from firms and the government, SME’s have been trying to reestablish from the unforeseen consequence by capitalizing on innovation, skills, and economic resources. The motivation of the study is to gauge the impact of innovative finance, technological adaptation, and the government’s role on SMEs’ sustainability during the COVID-19 pandemic in Bangladesh. As a study sample, 2000 SMEs were considered for data collection through a structured questionnaire from 10 December 2020, to 28 January 2021. A sample of 1895 SMEs was returned with their responses. However, after a careful data cleaning procedure, only a sample of 1395 (69.75%) responses was found suitable for study. The study applied structural equation modelling to explore causal effects and test the proposed hypothesis for the hypnotized model, i.e., more precisely, to explore the direct effects of technology adaptation and innovative finance and indirect effects through government support on SMEs. Study findings revealed that SMEs’ sustainability positively accelerates by applying innovative finance and integration of technological adaptation. In contrast, the mediating role of government was also established with indirect assessment. Study findings suggest that policy formulation and implementation must be initiated, focusing on effective online financial services, settling business transactions, and integrating IT advancements in operation.

BARRIERS OF SMES’ SUSTAINABILITY IN SUB-SAHARAN AFRICA: A PLS-SEM APPROACH

Undoubtedly, entrepreneurial knowledge is a prerequisite for the survival of every business organization. To this, the contribution of Small and Medium Enterprises (SMEs) in the socio-economic development in most developing economies cannot be underestimated. Both developed and developing countries are living testimonies of their contributions to their nation’s growth and development. However, extant literature shows that as competition and innovation intensify in the global business market, many SMEs in developing countries are constrained by external forces that hinder the sustainability of these businesses. Hence, this paper aims to find out the mitigating factors warranting SMEs’ sustainability from the viewpoint of entrepreneurs and business owners, particularly in the manufacturing sector of Ghana, a Sub-Saharan Africa region. To achieved this objective, the study deployed a simple random sampling technique with 370 valid responses through a structured questionnaire for the analysis. Relying on PLS-SEM (partial least square and structural modeling) with the aid of ADANCO 2.2.1 software version revealed that factors such as financial challenges, technology; market penetration & acceptability; and research & development are barriers facing SMEs sustainability in the Ghanaian manufacturing sector. This study would be beneficial to entrepreneurs and business owners of SMEs in most developing countries and provide deeper insight into the SME literature at large. This study would further strengthen SME entrepreneurs and business owners to fully devise strategies that can help them to override such migrating challenges and equipped them to effectively stay competitive in the long term for the firm’s growth and survival. The limitation and future research directions are equally presented in the paper.

An empirical analysis of SMES’ triple bottom line practices

PurposeThis study aims to examine the determinants of small and medium enterprises (SMEs) sustainability practices in New Zealand from the triple bottom line (3BL) perspective. Unlike large companies and government agencies whose sustainability practices are driven by regulations and attempts to legitimise business operations, little is known about the drivers of SMEs’ sustainability practices.Design/methodology/approachA cross-sectional survey approach was adopted for the data collection. The analysis was mainly descriptive, while the covariates’ effects were measured based on partial least squares structural equation modelling.FindingsThis paper identified that SMEs’ 3BL practices are significantly influenced by local bylaws, voluntary adoption of 3BL operational policies and company size. This paper finds that the SMEs’ industry type is not statistically significant as a determinant of their 3BL practices. This implies that regulation and operational policies increase sustainability practices in the SME sector.Practical implicationsThese findings provide insights to SMEs’ managers on the importance of sustainability policies adoption and bylaws. Government departments and local government councils could adopt the findings in developing regulatory policies that support SMEs’ 3BL.Social implicationsThis study provides support for economically, environmentally and socially sustainable business practices amongst SMEs.Originality/valueA dearth of studies on SMEs sustainability practices exists in the extant literature, particularly in New Zealand. The study focusses on SMEs sustainability in the viewpoint of 3BL practices based on an empirical analysis.

Fin-Tech, Financial Inclusion, and Sustainability: a Quantitative Approach of Muslims SMEs

Sustainability of Small and Medium Enterprises (SMEs) is very important to be noted or observed. Because the majority of Indonesia�s population is Muslim and many of them are SMEs Actors. This study aim to provide empiric proves about the relation among financial technology (Fintech), financial inclusion, and sustainability muslims SMEs in Solo Raya area. This study uses quantitative approach. Analysis instrument used in this study is Partial Least Square (PLS). All data in the study are collected by handing out questionnaires to 96 SMEs owners who are Muslim chosen with accidental sampling technique. The result of this study shows that there is a positive relation between financial technology and financial inclusion. Financial technology also have positive relation toward the sustainability of SMEs. Besides that, financial inclusion also have positive relation with the sustainability of SMEs. With these results, it is expected that could give more viewpoint to the Government to give a convenient access and support the existence and sustainability of SMEs

The collaborative roles of stakeholders in supporting the adoption of sustainability in SMEs

There is growing concern among governments around the world about the need to enhance the social and environmental performance of small and medium enterprises (SMEs), seen as key actors in efforts to achieve national sustainability goals. However, despite efforts made to promote their role in this area, SMEs still struggle to integrate social and environmental concerns into their business practices. Barriers that impede the integration of sustainable development in SMEs include a limited awareness of the impacts and benefits associated with sustainability, a lack of time and resources, and a lack of skills and expertise. The aims of this study are to examine the key collaborative roles that a range of stakeholders can play to support sustainability adoption in SMEs and to understand how these roles contribute to overcoming barriers to adoption. Building on thirteen case studies, this study found that stakeholders play five different and complementary collaborative roles in supporting sustainability practices within SMEs, namely that of trainer, analyst, coordinator, specialist, and financial provider. The study shows that these five roles can be performed by a wide range of local stakeholders and can contribute to overcoming different barriers to the integration of sustainability practices within SMEs. These findings demonstrate that one key way for governments to improve the sustainability performance of SMEs may be to facilitate and shape the development of stakeholder networks capable of performing these five critical roles as part of efforts to promote sustainability adoption within firms.