Contribution of small and medium enterprises to economic development: Evidence from a transiting economy

Obi, James; Ibidunni, Ayodotun Stephen; Tolulope, Atolagbe; Olokundun, Maxwell; Amaihian, Augusta Bosede; Borishade, T. T.; Fenici, Peter

doi:10.1016/j.dib.2018.03.126

Cited by 89 publications

(72 citation statements)

References 2 publications

(1 reference statement)

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“…Small and medium enterprises (SMEs) are a noteworthy driver of economic development [1], being vital to most economies across the world, particularly in developing and emerging nations [2]. They represent 99% of all businesses in the European Union (EU) and in the last five years, provided about 85% of new jobs, also ensuring two-thirds of the total private sector engagement in the region [3].…”

Section: Introductionmentioning

confidence: 99%

Small and Medium-Sized Enterprises (SMEs): The Engine of Economic Growth through Investments and Innovation

et al. 2020

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Small and medium-sized enterprises (SMEs) are crucial for local economic development, playing a noteworthy role in job creation, poverty alleviation and economic growth, but they encounter many funding barriers. The purpose of the current paper is to investigate the impact of investments and innovation on territorial economic growth, as measured by turnover, for Romanian active enterprises, especially SMEs, over the period 2009–2017. By estimating several log–log linear regressions, the quantitative outcomes provide support for a positive influence of investments on turnover. The association was confirmed both for all active enterprises at the national level, as well as for micro, small, middle-sized and big companies. As regards expenditures on innovation, a positive impact on turnover was acknowledged for all enterprises and particularly for big companies, but there was an absence of any statistically significant relation in the case of SMEs. The impact of firm size on turnover was positive for all active enterprises at the national level, along with active micro-units. Also, the estimation results show a positive impact of the number of active micro-units on territorial economic growth. The empirical findings are relevant to managers and policymakers in order to stimulate, encourage and offer support to SMEs’ development through their strategies.

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Section: Introductionmentioning

confidence: 99%

Small and Medium-Sized Enterprises (SMEs): The Engine of Economic Growth through Investments and Innovation

et al. 2020

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“…SMEs is one of business type which have greatly contributed in economic development. In several recent researches, it is found that SMEs serve as the significant drivers of the economic development and SMEs also identified could take many important roles in economic aspects (Obi et al, 2018) like SMEs could fundamentally support the job creation, SMEs could significantly impact to the povertyalleviation through providing some job opportunities to the unemployment (Okpara and Wynn, 2007) and SMEs could significantly contribute to the improvement of the living standard.…”

Section: A Small and Medium Enterprises (Smes)mentioning

confidence: 99%

Small Industry Growth Resolution through the Readiness for Using Android Technology in Industrial Revolution 4.0 Challenge

Eliyana¹,

Sridadi²,

Mashud³

2019

Proceedings of the 2019 International Conference on Organizational Innovation (ICOI 2019)

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Industrial Revolution 4.0 as the stage of technology influences many sectors include financial sector like small medium enterprises. This study aims to discuss some significant SMEs' variables and explore the readiness of small industry sellers to the new way of marketing such as the use of android phone. To establish the accuracy, some SMEs' sellers from across the difference regions in East Java, Indonesia are taken to take apart to this study. Some findings are found like the intention to market their products via android application are big but those are not matching with their effort, some SMEs' sellers found feel satisfied with what they have now, some SME's sellers are waiting for real action of the related party for actively guiding them to face this era, and many more. Some suggestions are also provided in this study to enrich this case study.

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“…Good education in entrepreneurial skills could drive sustainable performance and growth of small-medium enterprises. Henceforth, small-medium enterprises contribute significantly to the development of an economic nation (Obi et al, 2018).…”

Section: General Evaluationmentioning

confidence: 99%

“…Start-up businesses have the potential to decrease unemployment among graduates through innovation and job creation (Lukes, Longo, and Zouhar, 2019). In addition, micro and small enterprises contribute to the development of an economic nation (Obi et al, 2018).…”

Section: Introductionmentioning

confidence: 99%

Acceleration of starts up business in agriculture through improvement of production, financial and marketing system

Laila¹,

Cahyanti²,

Etica³

et al. 2019

AJCE

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Due to increased unemployment among graduates, the University of Darussalam Gontor-Indonesia provided a program for strengthening entrepreneurship in start-up businesses in the agricultural sector. To achieve this objective, a community empowerment program was created that includes four strategic levels namely, 1) assessment; 2) training; 3) mentoring; and 4) monitoring and evaluation. This program was applied to 8 start-up businesses in sub sectors such as horticulture production, aquaculture, livestock, and agro-industrial. Assessment analysis resulted in three main targets on the entrepreneurship training program including 1) improvement of production; 2) development of a financial system, and 3) expansion of the marketing network. After 6 months, the community empowerment program improved acceptable and profitable production through different technology implementation methods. To build financial systems, every group recorded financial data through a Microsoft excel program template, and created a strategic plan based on present information and educated projections. Furthermore, every business unit had to be proficient in operating the website and with social media accounts for developing marketing network. General evaluation confirmed that this program could gradually enhance the skills of business owners/entrepreneurs. Good education in entrepreneurial skills in start-up businesses could drive sustainable performance and growth small-medium enterprises.

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Contribution of small and medium enterprises to economic development: Evidence from a transiting economy

Cited by 89 publications

References 2 publications

Small and Medium-Sized Enterprises (SMEs): The Engine of Economic Growth through Investments and Innovation

Small and Medium-Sized Enterprises (SMEs): The Engine of Economic Growth through Investments and Innovation

Small Industry Growth Resolution through the Readiness for Using Android Technology in Industrial Revolution 4.0 Challenge

Acceleration of starts up business in agriculture through improvement of production, financial and marketing system

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