Effects of extreme weather events on SMEs:a literature review and synthesis

Small and Medium-scale Enterprises (SMEs), which generate more than one half of the employment (58.9%) and turnover (51.9%), form an important sector of the UK economy. Although they are the main drivers of the UK economy, they are also said to be the most vulnerable to the impacts of Extreme Weather Events (EWEs). The world in recent years has experienced a significant number of EWEs, and SMEs have suffered significant economic losses as a result. The now apparent climate change, which is mostly attributed to human interference with the environment over the past few decades, is believed to have a strong link with the increase of EWEs in the recent past. Threats of EWEs are expected to further increase due to their increased frequency and magnitude and increased vulnerability to their effects. Interestingly, EWEs seem to present businesses with various business opportunities and positive consequences as well, besides the much feared and overwhelming threats and negative consequences they present. Understanding such impacts has become a necessity to improve the resilience of SMEs so that they will be better prepared to minimise the negative consequences and maximise the positive consequences posed by EWEs. This paper attempts to bring together and evaluate the current knowledge with regard to the effects of EWEs on SMEs. The paper establishes the case for more in-depth study with this regard and concludes by stressing the need for improving the resilience of SMEs to EWEs.

Putting policy initiatives into practice:adopting an “honest broker” approach to adapting small businesses against flooding

Purpose: Amidst the current economic climate, which places many constraints on expensive flood defence schemes, the policy makers tend to favour schemes that are sympathetic to the needs of small and medium-sized enterprises (SMEs) and which promote empowering local communities based on their individual local contexts. Research has shown that although several initiatives are in place to create behavioural change among SMEs in undertaking adaptation approaches against flooding, they often tend to delay their responses by means of a "wait and see" attitude. The paper aims to discuss these issues. Design/methodology/approach: This paper argues that unless there are conscious efforts in the policy-making community to undertake explicit measures to engage with SMEs in a collaborative way, the uptake of adaptation measures will not be achieved as intended. With the use of the "honest broker" approach the paper provides a conceptual way forward of how a sense of collaboration can be instigated in an engagement process between the policy makers and SMEs, so that the scientific knowledge is translated in an appropriately rational way, which best meets the expectations of the SMEs. Findings: The paper proposes a conceptual model for engaging SMEs that will potentially increase the uptake of flood adaptation measures by SMEs. This could be a useful model with which to kick start a collaborative engagement process that could escalate to wider participation in other areas to improve impact of policy initiatives. Originality/value: The paper lays the conceptual foundation for a new theoretical base in the area, which will encourage more empirical investigations that will potentially enhance the practicality of some of the existing policies. © Emerald Group Publishing Limited.

Impacts of flooding on SMEs and their relevance to chartered surveyors:

This is the final report of the RICS Education Trust funded “Developing Flood Expert Knowledge in Chartered Surveyors – DEFENCES” research project. The UK has endured a number of major flood events in recent years, and the UK Environment Agency (2009a) identified that about 5.2million properties in England, amounting to one in six, are at risk of flooding. The impacts of flooding include direct and indirect impacts and can be particularly devastating for small and medium-sized enterprises (SMEs) who are generally more vulnerable to such events than larger business organisations. Recent flood events have established how costly flooding can be to the SME sector (Pitt, 2008, ABI, 2010), which has given greater impetus to the need to improve the resilience of at-risk SMEs. A lack of professional advice on flood protection and adaptation measures represents a potential barrier to the uptake of such interventions by SMEs. A recent Royal Institution of Chartered Surveyors (RICS) survey, as quoted in Defra (2008) notes that, although a majority of chartered surveyors would like to work in this area of practice (flood risk assessment and adaptation), they are conscious of gaps in their competency, knowledge and understanding. The research project sought to contextualise this broader issue and investigate how chartered surveyors can bridge the gap in providing professional flood advice to SMEs. Further, a shift in the UK government policy on flood risk management is evident, where at-risk communities are urged to adapt to flooding. This places greater emphasis on property-level flood adaptation, providing further impetus for Chartered Surveyors to be involved. Findings of the research will be of interest to the RICS, the RICS Flood steering Group, practicing surveyors generally, SMEs, business support and policy making organisations.

Attitudes towards and perceptions of entrepreneurs in Central Eastern Europe (Poland, the Czech Republic, and East-Germany)

This paper explores attitudes and perceptions towards entrepreneurs in three Central Eastern European (CEE) countries undergoing transition from planned to market-based economic systems. Entrepreneurs and small and medium-sized enterprises (SME) play a critical role in this transformation process. Study one examines whether governments and general public are perceived as supportive of entrepreneurs. Such perceptions might eventually increase the number of entrepreneurs as it would be seen as a legitimate career choice (cf. Etzioni, 1987). Study two explores whether the concept ‘entrepreneur’ is interpreted in the same way in the three cultures using a student sample. Cross-cultural aspects and support measures for entrepreneurship are discussed.

Integrated logistics and supply chain management:the state of practice in Ireland

The Republic of Ireland and Northern Ireland were provided with aid to offset locational disadvantages in the run up to the Single European Market. Since then the Republic has emerged as the fastest growing member of the E.U. Success has not been underpinned by the transport system, suggesting that business has had to overcome locational disadvantages by strong performance elsewhere in the supply chain. The evidence indicates that there are Irish firms operating supply chain management techniques at a truly international standard. The problem is that there are so few in that category Meeting Ireland’s competitiveness challenge means closing the gap between the small group of large and foreign-owned firms, which display excellence in SCM, and the larger group of indigenous small and medium size businesses, which do not.

On the compatibility of benevolence and self-interest:philanthropy and entrepreneurial orientation

This article explores the philanthropy of owner–managers of small- and medium-sized enterprises (SMEs) investigating whether and why more entrepreneurially oriented SMEs are also more likely to engage in philanthropic activities. We find support for a positive link between entrepreneurial orientation (EO) and philanthropy in a representative sample of 270 Lithuanian SMEs controlling for alternative explanations. We highlight that philanthropy is relatively common among SME owner–managers and thus complement existing research which views philanthropy as sequentially following wealth generation. In line with our theorizing, further qualitative findings point to drivers of philanthropy beyond those considered in the dominant strategic-instrumental perspective. Building on social-psychological theories of motivation, we argue and confirm that philanthropy can also be an expression of owner–managers’ altruistic values; these values can be compatible and even mutually reinforcing with entrepreneurship. Our study is set in a transition economy, Lithuania, facilitating the analysis of heterogeneity in attitudes toward philanthropy.

Entrepreneurship in the neighborhood:shifting patterns of economic activities in residential neighborhoods in five dutch cities

Cities are oftentimes seen as undergoing a process of "emergence" in the "new economy." However, this process has largely remained empirically underdetermined. This article examines the intra-city geography of emerging businesses in newly dominant sectors of the urban economy. The change in dominant sectors coincides with a shift towards small- and medium-sized businesses, creating new economic opportunities for urban residential areas. The residential neighborhood is introduced as a place where supply and demand side drivers operate to attract or limit such new economic activity. Allen Scott's perspective of the cognitive-cultural economy is used to analyze which neighborhoods are flourishing sites of the cognitive-cultural sectors. His perspective on industries that are on the rise in urban environments and their growth potential proves very valuable. Social demographic characteristics on the level of the neighborhood are used as predictors of the composition of the local economy. The analyses show that in particular wealthy, gentrified neighborhoods are more prone than others to becoming "hubs" of the cognitive-cultural economy. However, disadvantaged neighborhoods may under certain conditions serve as incubators for business start-ups as they offer low-rent office spaces. This has important consequences for their future economic growth potential as well as the distribution of successful businesses in the city. © 2013 Urban Affairs Association.

Regional growth and SMEs in Brazil:a spatial panel approach

Cravo T. A., Becker B. and Gourlay A. Regional growth and SMEs in Brazil: a spatial panel approach, Regional Studies. This paper examines economic growth for a panel of 508 Brazilian micro-regions for the period 1980-2004, using spatial econometrics and paying particular attention to the importance of small and medium-sized enterprises (SMEs). The findings indicate the presence of spatial dependence in the process of economic growth and the existence of two spatial regimes in Brazil. The human capital level of the whole population is an important growth determinant, but does not generate positive spillovers. Furthermore, human capital embodied in SMEs is more important than the size of this sector for regional growth and SME activity generates positive spatial spillovers. © 2014 © 2014 Regional Studies Association.

Record small and low loss slow light delay lines and dispersion compensators

Record small and low loss slow light optical signal processing devices are proposed and demonstrated using the recently invented Surface Nanoscale Axial Photonics (SNAP) technology.

Determinants of Firm Growth with respect to Exporting and Innovation Activities: Evidence from Egyptian SMEs

Small and medium-sized enterprises (SMEs) are considered to be the driving engine for employment growth, source of innovation and technological progress. Moreover, the success of small exporters is critical for economic growth and is considered as an important development stage for many SMEs. However, their competitive advantage lies within the firm’s ability to innovate. This thesis contributes to the above literature by examining two main factors believed to promote firm growth namely ‘exporting’ and ‘innovation’ activities. Growing interests on the relationship between exporting, innovation and growth have recently been tackled. However, there remains a gap in literature on the relationship between exporting, innovation and firm growth for SMEs in emerging economies. Previous studies are conducted in developed counties such as UK, Ireland, USA, Germany, and Switzerland, which leaves the gap for those developing countries. Thus, this thesis addresses the gap by examining the importance of innovation and exporting activities in the growth of SMEs in Egypt. It is also the researcher’s intent to recognise the unique contribution of innovation on firm exporting activities covering all sectors. gypt, one of the countries that were tremendously affected by the so-called ‘Arab Spring revolution’, is suffering from slow economic growth, high unemployment and poverty rate. Thus, the government must ensure economic growth and job creation. Programmes to encourage and develop SMEs should be part of inclusive growth strategy. Meanwhile, exporting is regarded as a key factor to help the economy recover from recession and stimulate economic growth. On the other hand, innovation leads to better performance in terms of growth, exporting and productivity. Therefore, SMEs and their exporting and innovation activities should be an integral part of any recovery and growth strategy for the economy. Moreover, Egypt is suffering from the so-called ‘Missing Middle’, which is problematic as medium firms tend to provide better employment growth and productivity. Therefore, more light is to shed on the importance of exporting and innovation in the growth of firms. The research design was quantitative in nature, testing the proposed hypotheses. The study was conducted in 2013 based on questionnaires of 406 Egyptians SMEs. The results of the empirical study suggest that both exporting and innovation activities are important in firm growth. However, the results show that, after controlling for endogeneity, innovation does not affect exporting activities in SMEs.

Determinants of firm growth with repect to exporting and innovation activities:evidence from Egyptian SMEs

Small and medium-sized enterprises (SMEs) are considered to be the driving engine for employment growth, source of innovation and technological progress. Moreover, the success of small exporters is critical for economic growth and is considered as an important development stage for many SMEs. However, their competitive advantage lies within the firm’s ability to innovate. This thesis contributes to the above literature by examining two main factors believed to promote firm growth namely ‘exporting’ and ‘innovation’ activities. Growing interests on the relationship between exporting, innovation and growth have recently been tackled. However, there remains a gap in literature on the relationship between exporting, innovation and firm growth for SMEs in emerging economies. Previous studies are conducted in developed counties such as UK, Ireland, USA, Germany, and Switzerland, which leaves the gap for those developing countries. Thus, this thesis addresses the gap by examining the importance of innovation and exporting activities in the growth of SMEs in Egypt. It is also the researcher’s intent to recognise the unique contribution of innovation on firm exporting activities covering all sectors. Egypt, one of the countries that were tremendously affected by the so-called ‘Arab Spring revolution’, is suffering from slow economic growth, high unemployment and poverty rate. Thus, the government must ensure economic growth and job creation. Programmes to encourage and develop SMEs should be part of inclusive growth strategy. Meanwhile, exporting is regarded as a key factor to help the economy recover from recession and stimulate economic growth. On the other hand, innovation leads to better performance in terms of growth, exporting and productivity. Therefore, SMEs and their exporting and innovation activities should be an integral part of any recovery and growth strategy for the economy. Moreover, Egypt is suffering from the so-called ‘Missing Middle’, which is problematic as medium firms tend to provide better employment growth and productivity. Therefore, more light is to shed on the importance of exporting and innovation in the growth of firms. The research design was quantitative in nature, testing the proposed hypotheses. The study was conducted in 2013 based on questionnaires of 406 Egyptians SMEs. The results of the empirical study suggest that both exporting and innovation activities are important in firm growth. However, the results show that, after controlling for endogeneity, innovation does not affect exporting activities in SMEs.

A gazdasági teljesítmények vállalkozási mérettől függő jellemzői Magyarországon = Changing ownership and business structures in the Hungarian economy

A mögöttünk hagyott két évtizedben – tetszik, vagy sem – a magyar gazdaság 1992. évi mélypontról történő kilábalásában, majd új növekedési pályára állásában meghatározó szerepe volt a hazai forrásokat kiegészítő külföldi befektetéseknek. Ennek természetesen ára volt: a tevékenységi struktúra (termékszerkezet) módosulása, a tulajdonosi összetétel radikális átalakulása, a külgazdasági kapcsolatok irányultságának változása, a lakosság önfoglalkoztatási célú vállalkozásainak szaporodása, a gazdaságfejlesztés irányának és ütemének cikk-cakkos mozgása, az állami szerepkör fokozatos leépülése. Írásunk célja annak áttekintése, hogy a nemzetközi tőkeáramlás tendenciáinak módosulását követően – a Magyarországra érkező külföldi tőkebefektetések jelentős csökkenéséből fakadóan – a kizárólagos és többségi hazai tulajdonú szereplők (kiemelten a hazai közép- és kisvállalkozások) milyen mértékben lehetnek alkalmasak a kieső teljesítmények pótlására, illetve a gazdasági válság lecsengését követően milyen ütemű növekedést képesek biztosítani a magyar gazdaság számára. A válaszok nagy valószínűséggel az Új Széchenyi Terv szempontjából sem közömbösek. Az írást a szerkesztőség vitairatnak szánja és szívesen ad teret a témával kapcsolatos vélemények kifejtésének. / === / The economic performance during the transition period was characterized by the alternations of fulfilled hopes and unrealized expectations. The economic restructuring and changes in market relations took place during the first decade, while new – mostly foreign – investment groups entered the new market. As a result the economy was stabilized and was put on a new growth path. But after the millennium the foreign investment based economy development strategy was no more adequate. The new engine for the growth should have been the domestic small and medium enterprise sector (SME), but despite the subsidies this sector was not strengthened enough to take this role.

A racionális kisvállalati gazdálkodás tényezői, 2006-2010 (Factors in rational operation of small business, 2006-2010)

A tanulmány a hazai kis- és középvállalati szektorban 2006-ban elvégzett, majd 2010-ben megismételt kérdőíves felmérések eredményei alapján igyekszik bemutatni a racionális vállalati gazdálkodás sajátosságait. Vizsgálatunk fő kérdése, hogy e szektor vállalkozásainak gazdálkodását milyen tényezők teszik ésszerűvé, s hogy a 2006-2010 között eltelt időszakban milyen változások figyelhetők meg a gazdálkodói magatartásuk alakulásában. Eredményeink alapján megállapíthatjuk, hogy a mai napig megtalálhatók a kisvállalkozói - háztartási szemléletű, megélhetésorientált - gazdálkodás nyomai, de a racionális gazdálkodás általunk használt mutatói szerint e vállalkozások körében szakszerűbbé vált a gazdálkodás. Ebben a folyamatban szerepet játszott a gazdasági válság, amely által előidézett helyzethez kénytelenek voltak alkalmazkodni a kis- és közepes vállalkozások: felismerték, hogy célravezetőbb a hatékonyság és a költségek szempontjából a racionális pénzpiaci magatartás követése, s ezzel összhangban a válság miatti zavarok elhárítására kiadáscsökkentő eszközök alkalmazása. A kis- és közepes vállalkozások gazdálkodásával kapcsolatos racionális döntések előmozdításában elsősorban a korszerű pénzügyi ismereteknek és a szakmai tudásnak van szerepe. / === / The study seeks to identify the attributes of rational business operation, using a questionnaire survey of small and medium-sized firms made in 2006 and a repeat of it in 2010. The main questions addressed are what factors contribute to rational operation in the firms in the sector and what changes over the 2006-10 period can be discerned in business behaviour. The findings show that traces of small business-style operation (a household or livelihood orientation) could still be found, but the indicators of rationality employed in the survey show that the operation of the firms became more rational. A role in the process was played by the economic crisis, which forced small and medium-sized businesses to adapt: they recognized that it was better from the point of view of efficiency and costs to follow rational money-market behaviour, and in line with that, use spending-reduction tools to evade the disturbances of the crisis. The main factors behind the shift towards rational decision-making in the running of small and medium-sized firms are up-to-date financial information and professional expertise.

A korlátolt felelősségű társaság tagjait megillető individuális és kisebbségi jogok szabályozása és joggyakorlata = Minority and individual rights in Ltd.

A tanulmány a magyar kis- és középvállalkozások társasági formájában a Kft-ben elemzi az individuális és csoportos jogokat. Az optimális társasági jogi szabályozásban két egymással ellentétes elvnek egyszerre kell érvényesülni. Érvényesülni kell annak az elvnek, amely szerint a nagyobb tőkével rendelkező nagyobb kockázatot vállalók nagyobb befolyással rendelkeznek a társaság ügyeiben, de érvényesülni kell annak az elvnek is, hogy a kisebb tőkével rendelkező társasági tagok nem kerülhetnek kiszolgáltatott helyzetbe. A kisebb tulajdonosok megfelelő védelme elősegíti a társaságok tőkevonzó képességét. A tanulmány földolgozza az individuális és kisebbségi jogok bírósági gyakorlatát. ----- The paper examines individual and group rights in small and medium-sized enterprises (Ltds). In case of an optimal business law regulation two contradictory principles should be considered in the same time. The first principle states that members who take more risk by investing more capital should have more influence over the company’s affairs. However, according to the second principle, minority shareholders can not suffer unfair prejudice. Proper protection of minority shareholders may facilitate the company’s capital-attractive ability. The paper reviews court practice routines on individual and minority rights.

Bizonytalanság, stratégia és teljesítmény – Kvalitatív kutatás innovatív kis- és középvállalatok vezetői körében (Uncertainty, strategy and performance – Qualitative research in innovative SMEs)

A szerző kvalitatív kutatási módszerekkel vizsgálja a kis- és középvállalatok (kkv-k) innovatív tevékenységeinek korlátait és lehetőségeit. A vizsgálat tárgyai (legalább) Magyarország szintjén új terméket vagy szolgáltatást nyújtó kkv-k, melyek határozott növekedési szándékkal rendelkeznek. Az eredmények egységes vizsgálati keretben, 41 vezető véleménye alapján születtek meg, három területre fókuszálva: (1) a környezeti bizonytalanság megítélése, (2) a szervezet követett stratégiája, kettős képessége, kiaknázó és felderítő tevékenysége, és (3) a versenyképes teljesítménycélok, konfigurációk. A cikk a kutatás lépéseit részletesen bemutatja, fontos eredményének tekinthető, hogy rámutat arra, hogy a kutatási és fejlesztési, valamint az innovatív tevékenységek legfontosabb gátja leginkább a vezetési és szervezési képességek és a stratégiai gondolkodás hiányára vezethető vissza a kis- és középvállalkozásokban. ______ The author conducted a qualitative research on the innovation potential of small and medium size enterprises (SMEs). SMEs with new products and services and with growth orientation are in the focus of the research. The standardized research design is based on 41 owner managers’ responses. It is focusing on 3 main areas: (1) environmental uncertainty, (2) the strategy followed by the organization, its ambidextrous capability, exploitative and explorative behavior, and (3) competitive performance and configurations. The paper describes a qualitative research design in detail. The main finding of the research is that the lack of managerial skills and strategic thinking inhibit SMEs to conduct innovation as well as to engage in research and development activities.