Barriers to adapt eCommerce by rural microenterprises in Sweden : a case study

Research has shown that small and medium-sized enterprises (SMEs) are rapidly adopting the e-commerce. However, there is nearly no research into how microenterprises are adopting eCommerce. Present paper focus on microenterprise adaption of eCommerce in terms of barriers in relation to already known research on SMEs. A case study, carried out by 12 microenterprises to find out barriers to adapt eCommerce had been done. The empirical results show that the microenterprises share most of the barriers to adapt the eCommerce with studies of SMEs, but also reveal additional factors affecting adaptation option of eCommerce; supplier agreement, communication and customer strategy. Conclusions are that microenterprises need additional support and communication and customer strategy to adapt eCommerce, depending of their requirement and needs of eCommerce.

Ativos intangíveis: avaliação e mensuração no contexto de private equity e venture capital

Os ativos intangíveis tornaram-se a principal fonte de competitividade para as empresas operantes na Economia do Conhecimento. Entretanto, ativos intangíveis são de difícil mensuração, colocando desafios para investidores e bancos que, expostos a uma maior assimetria de informação, tendem a requerer retornos significativos, para aportar capital em Pequenas e Médias Empresas (PMEs) inovadoras, quando o fazem. O setor de Private Equity e Venture Capital (PE/VC) se desenvolveu concomitantemente à crescente importância dos ativos intangíveis na economia. Trata-se de um importante segmento de intermediação financeira composto por organizações desenhadas para lidar com elevada assimetria de informação. Neste trabalho, dez dessas organizações, atuantes no mercado brasileiro, foram entrevistadas. O objetivo é descrever o processo de seleção de investimentos, os critérios e os indicadores utilizados por tais organizações para identificar e mensurar os ativos intangíveis. O método usualmente adotado por essas organizações para a valoração (valuation) das PMEs inovadoras também é estudado. Resultados sugerem que as organizações de PE/VC utilizam técnicas sofisticadas para avaliar propostas de investimento, com critérios e indicadores específicos para se medir as principais classes de ativos intangíveis de uma empresa. Entretanto, tais ativos não são avaliados individualmente. A informação obtida é utilizada para se compreender a origem dos fluxos de caixa projetados e os principais fatores de risco. Por sua vez, tais elementos são combinados pelo método do fluxo de caixa descontado para se estimar o valor da empresa. Graças à extensa experiência dos gestores de PE/VC com PMEs inovadoras, acredita-se que o estudo das práticas deste segmento traz importantes reflexões para a recente discussão em torno dos ativos intangíveis

Institutional requirements for market-led development in Latin America

Includes bibliography

International Agricultural Trade under Regulatory Asymmetry: An Economic Analysis of SME Export Behavior

Over the last three decades, international agricultural trade has grown significantly. Technological advances in transportation logistics and storage have created opportunities to ship anything almost anywhere. Bilateral and multilateral trade agreements have also opened new pathways to an increasingly global market place. Yet, international agricultural trade is often constrained by differences in regulatory regimes. The impact of “regulatory asymmetry” is particularly acute for small and medium sized enterprises (SMEs) that lack resources and expertise to successfully operate in markets that have substantially different regulatory structures. As governments seek to encourage the development of SMEs, policy makers often confront the critical question of what ultimately motivates SME export behavior. Specifically, there is considerable interest in understanding how SMEs confront the challenges of regulatory asymmetry. Neoclassical models of the firm generally emphasize expected profit maximization under uncertainty, however these approaches do not adequately explain the entrepreneurial decision under regulatory asymmetry. Behavioral theories of the firm offer a far richer understanding of decision making by taking into account aspirations and adaptive performance in risky environments. This paper develops an analytical framework for decision making of a single agent. Considering risk, uncertainty and opportunity cost, the analysis focuses on the export behavior response of an SME in a situation of regulatory asymmetry. Drawing on the experience of fruit processor in Muzaffarpur, India, who must consider different regulatory environments when shipping fruit treated with sulfur dioxide, the study dissects the firm-level decision using @Risk, a Monte Carlo computational tool.

eLEARNING

eLearning through its flexibility and facility of access is seen as a major enabler of lifelong learning (LLL), as a catalyst of change and a chance for small and medium-sized enterprises (SMEs) to improve their business and to integrate into European market. But so far eLearning in the context of vocational educational training mainly has been adopted by large enterprises, while only little activity can be observed in SMEs. The question arises what the chances and challenges for SMEs are and what are the experience with its usage. In this paper after a presentation of key issues in eLearning chances and challenges of eLearning for SMEs are discussed and experiences are exemplified by three EU-funded eLearning projects. The focus lies on the ongoing project ARIEL - Analysing and Reporting the Implementation of Electronic Learning in Europe – coordinated by the Institut Arbeit und Technik (IAT).

Impact of foreign capital entry in the Indonesian banking sector

After the Asian financial crisis of 1997/98, the Indonesian banking sector experienced significant changes. Ownership structure of banking sector is substantially-changed. Currently, ownership of major commercial banks is dominated by foreign capital through acquisition. This paper examines whether foreign ownership changes a bank’s lending behavior and performance. Foreign banks tend to lend mainly to large firms; this paper examines whether the credit to small and medium-sized enterprises (SMEs) is affected by foreign capital entry into the Indonesian banking sector. Empirical results show that banks owned by foreign capital tend to decrease SME credit.

Is Horizon 2020 really more SME-friendly? A look at the figures. CEPS Commentary, 17 February 2016

Small- and medium-sized enterprises (SMEs) play a key role in the EU economy.[1] According to the latest “SME performance review” published by the European Commission,[2] in 2014 there were 22 million SMEs active in the non-financial business sectors, generating more than €3.7 trillion in added value and employing approximately 90 million people. SMEs’ contribution to the European economy becomes even more apparent if one considers that 99 out of every 100 enterprises active in the EU non-financial economy are SMEs, and that these firms account for about 67% of the total employment and some 60% of the overall added value produced in Europe. Against this background, enhancing the competitiveness of European SMEs is essential in order to foster the competitiveness of the EU economy as a whole. And since the competitiveness of European SMEs in the global arena largely depends on their ability to innovate,[3] unlocking the innovation potential of SMEs becomes pivotal to fostering growth and jobs in Europe.

Do strategic groups play a role in the SME financing process?

This exploratory paper, developing a conceptual model of owner-manager characteristics and access to finance, aims to investigate whether the concept of strategic groups plays a role in the process of small and medium-sized enterprises (SMEs) accessing finance. Strategic groups are groups of firms making similar patterns of investments in order to achieve their goals. This paper explores how strategic groups, which represent a classification of SMEs based upon their realised strategies, helps to provide an understanding of the success of SMEs in raising finance. The data, from a representative survey of 400 SMEs conducted by the Barclays Bank Telephone Research Unit, were subject to two-stage cluster analysis, thus codified into strategic groups using the natural rhythm of the data, rather than any subjective and value-laden categories being imposed by the authors. The findings show clear differentiation between strategic groups of SMEs, the characteristics of their owner-managers, and the financing strategies adopted. As such, the paper develops a novel typology of strategic groups of SMEs which, therefore, informs their financing strategies, as well as advising other stakeholders.

SME resilience to extreme weather events:important initiatives for informing policy making in the area

Enhancing the resilience of local communities to weather extremes has gained significant interest over the years, amidst the increased intensity and frequency of such events. The fact that such weather extremes are forecast to further increase in number and severity in future has added extra weight to the importance of the issue. As a local community consists of a number of community groups such as households, businesses and policy makers, the actions of different community groups in combination will determine the resilience of the community as a whole. An important role has to be played by Small and Medium-sized Enterprises (SMEs); which is an integral segment of a local community in the UK, in this regard. While it is recognised that they are vital to the economy of a country and determines the prosperity of communities, they are increasingly vulnerable to effects of extreme weather. This paper discusses some of the exploratory studies conducted in the UK on SMEs and their ability to cope with extreme weather events, specifically flooding. Although a reasonable level of awareness of the risk was observed among the SMEs, this has not always resulted in increased preparedness even if they are located in areas at risk of flooding. The attitude and the motivation to change differed widely between SMEs. The paper presents schemas by which the SMEs can identify their vulnerability better so that they can be populated among a community of SMEs, which can be taken forward to inform policy making in this area. Therefore the main contribution the paper makes to the body of knowledge in the area is a novel way to communicate to SMEs on improving resilience against extreme weather, which will inform some of the policy making initiatives in the UK.

Intellectual property enforcement in smaller UK firms:findings from a survey in 2009-10

This report details research into the enforcement of intellectual property (IP). It considers the attitudes and practices of small and medium-sized enterprises (SMEs) and micro firms as well as the cost implications of the present IP enforcement system in the UK. According to an earlier report for SABIP, by Weatherall et al. 2009, in the Gowers Review of Intellectual Property questions of enforcement were largely addressed through assertion, rather than empirical research. This report aims to provide such research. Our study included both an online survey and a phone survey. These concentrated on SMEs and micro firms rather than being a comparative study with large firms. Further work obtained information on Patents and Registered Design cases listed for hearings in the Patents Court from 2003 to 2009. The analysis of this data provides some evidence that complements the results of the survey.

Intellectual property enforcement in smaller UK firms:a report for the Strategic Advisory Board for Intellectual Property Policy (SABIP)

This report details research into the enforcement of intellectual property (IP). It considers the attitudes and practices of small and medium-sized enterprises (SMEs) and micro firms as well as the cost implications of the present IP enforcement system in the UK. According to an earlier report for SABIP, by Weatherall et al. 2009, in the Gowers Review of Intellectual Property questions of enforcement were largely addressed through assertion, rather than empirical research. This report aims to provide such research. Our study included both an online survey and a phone survey. These concentrated on SMEs and micro firms rather than being a comparative study with large firms. Further work obtained information on Patents and Registered Design cases listed for hearings in the Patents Court from 2003 to 2009. The analysis of this data provides some evidence that complements the results of the survey.

Decision support system for vendor managed inventory supply chain:a case study

Vendor-managed inventory (VMI) is a widely used collaborative inventory management policy in which manufacturers manages the inventory of retailers and takes responsibility for making decisions related to the timing and extent of inventory replenishment. VMI partnerships help organisations to reduce demand variability, inventory holding and distribution costs. This study provides empirical evidence that significant economic benefits can be achieved with the use of a genetic algorithm (GA)-based decision support system (DSS) in a VMI supply chain. A two-stage serial supply chain in which retailers and their supplier are operating VMI in an uncertain demand environment is studied. Performance was measured in terms of cost, profit, stockouts and service levels. The results generated from GA-based model were compared to traditional alternatives. The study found that the GA-based approach outperformed traditional methods and its use can be economically justified in small- and medium-sized enterprises (SMEs).

Innovation across the food chain – the Hungarian case

The small and medium sized enterprises (SMEs) in the Hungarian agri-food sector play determining role. The innovation capacity (efforts, activities and results) however of the individual SMEs is very limited. Food production (including SMEs) has to fulfil food safety requirements in a rapidly increasing extent, which implies a continuous innovation and development process from all market players. In Hungary the agri-food chain had to face a suddenly increased competition especially after the EU enlargement. Based on survey data this paper examines the efforts, activities and results in knowledge acquisition, utilisation, coordination and transfer in the Central Hungarian food SMEs. We have found (using ordered logistic regression) that R&D expenditures, achieved innovations, export/import orientation as well as the networking activity of the SMEs play significant role in market development.

EU-s források a vállalkozások tőkeellátottságának javítására - A JEREMIE Kockázati Tőkeprogram (EU funds to improve the capitalization of the companies – JEREMIE Venture Capital Program)

A hazai kis- és középvállalkozások (kkv-k) tőkeellátottságának javítása meghatározó szerepet játszik fejlődésük előmozdításában. Jelen tanulmány az Új Széchenyi Terv (ÚSZT) keretében a vállalkozások rendelkezésére álló pénzügyi eszközök közül a kockázati tőke működését mutatja be. A fejlődésük növekedési ciklusában járó cégek mellett a korai életszakaszukban járó, innovatív tevékenységet folytató, gyors növekedésre képes, de forráshiányos vállalkozások finanszírozásában nyújthat segítséget Magyarországon a 2010-ben elindult JEREMIE Kockázati Tőkeprogram. Az állami és a privát tulajdonban levő piaci szereplők hazánkban újnak mondható együttműködése révén megvalósuló program a magyar kockázatitőke-piac kínálati oldalának bővítését szolgálja, abban az alsó (döntően az 1-1,5 millió EUR/tranzakció alatti) szegmensben, ahol a tisztán piaci alapon működő befektetők korlátozottabb szerepvállalása figyelhető meg, és így a piacon hiány jelentkezik. Az EU-s támogatások ezen új típusú felhasználási formája színesíti és kibővíti a vállalkozások számára elérhető pénzügyi eszközök körét és volumenét, fokozottabb mértékben érvényesül a piaci szemlélet, hiszen verseny van a forrásokért, és verseny van a források kihelyezését végző pénzügyi közvetítő szervezetek között is, mindezek mellett további magánforrások bevonását biztosítja, ösztönzőleg hat a cégek működésére, és a visszaforgó rendszer biztosítja a fenntarthatóságot, a források későbbi újbóli felhasználását is. _______ To improve the capitalization of the domestic small and medium-sized enterprises (SMEs) has a decisive role in promoting development. This study presents the operation of venture capital from the available business financial instruments of the New Széchenyi Plan. In Hungary the JEREMIE Venture Capital Program, which launched in 2010, can help in financing of the rapidly growth, innovative, early life stage companies besides the development cycle of growth companies. This program with new cooperation between the stateowned and private companies enlarge the supply-side of the Hungarian venture capital market, at that the bottom (mostly in the 1 to 1.5 million EUR / transaction below) segment, where can be observed the limited role of the purely market-based investors, and thus there is a shortage in the market. These new type application form of the EU supports enriches and expands the scope and volume of the available financial instruments for the enterprises, the market orientation prevails more broadly, because there is a competition for resources and there is a competition between the resources allocation financial intermediaries,in addition ensures further private resources.