Insurance for Micro, Small, and Medium-Sized Enterprises

Chatterjee, A.; Wehrhahn, Rodolfo

doi:10.22617/brf178794-2

Cited by 7 publications

(7 citation statements)

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“…insurance) was the least used risk management technique among the SMEs, as the majority of operators/owners were ignorant of the workability of risk transfer mechanism and its financial cost implications on their business operations. Also, the result was contrary to the opinions of Chatterjee, Wehrhahn (2017), who noted that permitting insurers to carefully provide loans to MSMEs could create significant synergies, curtailing distribution costs and creating additional income. Source: Authors' own study.…”

Section: Resultscontrasting

confidence: 59%

“…Previous studies have shown that enterprises on either small or medium scales are key instruments to the developmental strides of any economy (Abotsi, Dake, Agyepong, 2014;Garg, Makukule, 2015;Terungwa, 2012). Recent studies such as (Abotsi et al , 2014;Ahmed, Abdul-manab, 2016;Chatterjee, Wehrhahn, 2017) have shown that small and medium scale enterprises are the engines to attain the growth objectives of developing countries in terms of mobilising idle funds, being labour intensive, the main source of employment, economic advancement, a revenue-generating source and technology innovation. Estimates, according to Ayyagari, Demirguc-Kunt, Maksimovic (2011), suggested that more than 95% of enterprises around the world were SMEs, accounting for about 60% of the private sector employment.…”

Section: Introductionmentioning

confidence: 99%

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Insurance Awareness and Acceptance: Empirical Evidence among Small and Medium-Sized Enterprises in the Lagos State, Nigeria

Ajemunigbohun

Ayobami²

2018

Trends Economics and Management

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Purpose of the article: Insurance awareness in Nigeria needs to be encouraged among entrepreneurs in order to galvanise support for insurance penetration and density. Methodology/methods: A descriptive approach and survey design were employed. A singlestage cluster sampling technique and interview schedule were both employed. 352 respondents made up of small business and medium-sized operators were drawn from three Local Government Council Areas of Lagos. The statistical instruments employed for this study were the Kolmogorov-Smirnov and Kendall's rank correlation coefficient techniques. Scientific aim: This study aims at the relationship between insurance awareness and its acceptability among small business and medium-sized operators in the metropolis of Lagos. Findings: The results of this study assume that insurance products have not gained high popularity among small business and medium-sized operators in the Lagos metropolis. They have also shown that there is a low but slightly positive relationship between insurance awareness and its acceptance among small business owners in the Lagos metropolis. Our formulated hypotheses have been supported. Conclusions: This study provides a better understanding on the importance of insurance awareness as related to its acceptance among small and medium-sized entrepreneurs This study recommends that greater attention should be placed on small business owners' education of and engagement in the design of insurance products related to their activities so as to allow for the sense of ownership, effective risk management communication and proper risk financing techniques.

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Section: Resultscontrasting

confidence: 59%

Section: Introductionmentioning

confidence: 99%

Insurance Awareness and Acceptance: Empirical Evidence among Small and Medium-Sized Enterprises in the Lagos State, Nigeria

Ajemunigbohun

Ayobami²

2018

Trends Economics and Management

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“…This implies that business insurance has no influence on profitability of business. However the results differed with some other studies that reported that an insured business was likely to report more profits [40].…”

Section: Resultscontrasting

confidence: 99%

The Factors Influencing SMEs Growth in Africa: A Case of SMEs in Zimbabwe

Njanike¹

2020

Regional Development in Africa

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Today Africa reports high levels of unemployment among other social issues causing governments' instability and low economic growth. Brain drain, low gross domestic product (GDP) per capita and growth reported across the continent requires an initiative on driving entrepreneurship development. The study seeks to investigate the determinants of small to medium enterprises (SMEs) growth in developing countries with a special focus on Zimbabwe. Informed by literature, the Zimbabwe Finscope Business Consumer Survey (2012) data was used to run a linear programming model regression analysis on the factors influencing SMEs profitability in that country. The study found that number of business units, education level, business type, family run businesses, expertise, licenced, advertising and bank account were significant in influencing SMEs profitability. The results will assist policymakers, development partners, entrepreneurs and other stakeholders. The insight can also be useful to venture capitalists, investment banks, investors and other financiers. There is need to support the millions of SMEs and future entrepreneurs in improving the regulatory and business environment, improving institutional support systems, promoting technology transfers, innovations and improving productivity.

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“…Such an innovative approach would navigate the highlighted challenge of inaccessible financing for the segment. The recommendation by Beck & Cull (2014) on innovation in financing approaches was in line with the recommendation by Chatterjee & Wehrhahn (2017) to create innovative products that leverage on pooling of resources. Kadocsa & Francsovics (2011) in their study of SMEs in Hungary conclude that after Hungary's accession to the European Union, the small businesses did not take advantage of the European Union new markets and opportunities due to lack of information.…”

Section: Financial Factors and Financial Performance Of Informal Micro Enterprisesmentioning

confidence: 74%

“…The study further found that a reliable monetary policy had the most impact on business operation among economic policy factors while for the micro economic factors the important ones were cost management, marketing, trade, financing, technical development and production. Chatterjee and Wehrhahn (2015) provide telling statistics on the prominence of SMEs to the global economy -up to 95% of enterprises are SMEs; these account for up to 90% of private sector employment. The proportion of SMEs differs by country with countries such as Japan posting up to 99% of SME representation.…”

Section: Financial Factors and Financial Performance Of Informal Micro Enterprisesmentioning

confidence: 99%

The Influence of Business Group Factors on the Financial Performance of Informal Micro Retail Enterprises in Nairobi

Wanjiku¹,

Chepkwony²

2021

IJSRP

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The study focused on the informal micro retail sector in Nairobi researching on the enterprises in the Smart Duka project run by a Non-Governmental Organization and investigating the use of group participation and its effect on the financial performance of these enterprises which are located in the informal settlements of Nairobi. Prior studies have focused more on areas outside the informal sectors of Nairobi and have had limited focus on the effect of group participation on financial performance of enterprises which the current study sought to address. The financial performance and business factors of the enterprises that joined groups (treated group) were compared to financial performance and business factors of the enterprises that did not join groups (control group) in the project. The research design used a triangulation approach using an experimental and explanatory designs to study causal links investigating if there is a link between variables. Primary and secondary data from the project was used to get quantitative data collected from the sample of 116 retail enterprises in groups randomly picked using probability sampling from the project and 116 retail enterprises not in groups. Based on the results of the study, the null hypothesis of financial performance of enterprises in business groups being less or equal to that of enterprises not in business groups was accepted due to the difference between the treated and control groups being statistically insignificant despite being higher and hence ways of making this difference significant should be addressed. The managerial factors had positive insignificant effects, strategic fit factors had positive significant effects while financial factors had negative insignificant effects on financial performance of the enterprises. The study offered novelty by focusing on the most marginalized of micro enterprises-those operating in informal settlements within Kenya's capital -Nairobi while considering the effect of group networks and magnitude effect of group factors on financial performance of micro enterprises.

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Insurance for Micro, Small, and Medium-Sized Enterprises

Cited by 7 publications

References 0 publications

Insurance Awareness and Acceptance: Empirical Evidence among Small and Medium-Sized Enterprises in the Lagos State, Nigeria

Insurance Awareness and Acceptance: Empirical Evidence among Small and Medium-Sized Enterprises in the Lagos State, Nigeria

The Factors Influencing SMEs Growth in Africa: A Case of SMEs in Zimbabwe

The Influence of Business Group Factors on the Financial Performance of Informal Micro Retail Enterprises in Nairobi

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