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PurposeThis paper aims to develop insight into the impact the coronavirus disease 2019 (COVID-19) crisis had on female entrepreneurs in Ghana's beauty industry and their ability to recognize opportunities. The authors also ascertained characteristics of the women that seemed to have influenced opportunity recognition.Design/methodology/approachUsing the case study approach, the authors collected data via in-depth interviews and open-ended questionnaires from sixteen women entrepreneurs in the beauty industry. The data were analyzed using a thematic analysis.FindingsThe data show that women entrepreneurs encountered challenges during the pandemic;however, some of the women were able to identify opportunities. Creativity and social media inclination were perceived to have influenced opportunity recognition. It was also observed from the demographic data that women who identified opportunities and women who could not differ in the level of education, age and firm age.Practical implicationsWomen entrepreneurs are encouraged to capitalize on social media and virtual platforms to enhance their marketing, services and operations. COVID-19 aid for businesses must be distributed equitably to all entrepreneurs in need.Originality/valueThe findings from this study provide novel insights into opportunity recognition during a crisis, focusing on a specific industry in a developing country.
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The pandemic has raised an issue of survival for most of the micro, small, and medium enterprises (MSMEs) because of their vulnerability in terms of size, limited financial resources, and inefficiency to deal with unpredicted situations. Therefore, the present study has adopted the contingency theory in times of change and uncertainties caused by COVID-19 on MSMEs and found out the ways to enhance its resilience and sustained the growth of this sector. This study has applied descriptive statistics and probit regression analysis to estimate the resilience and sustained growth of the firms through a change in the variables like turnover, labour employed, investment, and age of the firm. Based on the survey of 225 firms, the study observed that around 90 percent of surveyed firms realized a decline in their turnover with a 25 percent reduction in employment that mostly occur in the informal category. Interestingly, there was some increase in formal employment in around 50 percent of firms because of the business commitment of firms, shortage of informal workers, and availability of workers at lower wages. Smaller and younger firms in terms of employment and investment have a higher possibility to be affected by the external shocks indicating that the firm agility increases with firm age and size. Support measures by the government during the pandemic were found to be insufficient and have limited relevance to the MSME sector in its revival. For enhancing the resilience and sustainability of MSMEs, the study suggests small firms should be encouraged to financial planning against business uncertainties and proposes financial security measures viz. Uncertainty Corpus Fund for Small Businesses and Small Business Insurance. © 2023, Small Business Institute. All rights reserved.
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The socioeconomic characteristics of the community in the Bengawan Solo Hulu watershed allow the agribusiness MSMEs business process to occur in production and significantly impact aspects of socioeconomic life. The limited reliable sources of income will affect the community's tendency to repressive actions. The purpose of the study is (1) to determine the sociodemographic conditions of agribusiness MSME households, (2) to determine the effect of the season on the achievement of agribusiness MSME output, and (3) to find out the solutions of Agribusiness MSMEs. The research method used was a survey on Agribusiness MSMEs by taking locations in 2 Sub-watershed, Alangunggahan Sub-Watershed (Eramoko District) and Keduang Sub-Watershed (Jatipurno District and Jatisrono District) with a total sample of 60 MSMEs. The analysis used is the input-output analysis and Econometric analysis. The results showed that the R2 value was 87.14%, the F test was significant at 95%, and all sociodemographic variables were significant except the age factor of Agribusiness MSME actors. There is a significant seasonal difference in the achievement of agribusiness MSME output. This phenomenon indicates that post-Covid, efforts have risen from the Covid 19, and seasonal differences are considered in decision-making efforts to increase output achievements in the Agribusiness MSME.
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Before the pandemic, the economic development of Micro, Small and Medium-sized Enterprises (MSME) in Latin America showed gradual signs of recovery after the problems that occurred in years 2009 and 2016. As of 2017, Mexico maintained a growing inflation of 5% on average, the price of energy increased 20%, an external debt growth of 12% and a GDP lesser than 1.6% per year (Banco Mundial, 2020), (OCDE, 2019), (INEGI, 2018). By the end of 2019, SARS-CoV-2 (COVID - 2019) evidenced failure factors that exacerbated the permanence of MSMEs, since closed more than 30.6% of them (Naciones Unidas, 2021). In this research, these factors are discussed, by compiling information on economic behavior, and quantitative studies of the commercial, manufacturing and services sectors. To identify these factors, 246 Mexican MSMEs that closed between September 2019 and December 2020 were selected using stratified random sampling. The results showed failure factors associated with the capabilities of the administrator and internal aspects of the company, among which the lack of vision to identify new businesses and little knowledge of Information Technology stand out. © 2023 Russell Sage Foundation. Lewis-McCoy, R. L'Heureux, Natasha Warikoo, Stephen A. Matthews, and Nadirah Farah Foley. 2023.
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This paper empirically analyzes the relationship between certain organizational characteristics and sales performance on a sample of 360 micro, small and medium-sized enterprises (MSMEs) from Paraguay. The results from the logistic regression analysis show that the outsourcing of operations has a positive impact on sales. On the other hand, it was observed that relationships with suppliers in the supply chain as well as the delay of planned investments before the pandemic negatively influence sales. These results might help businesses and policy makers to strengthen certain internal characteristics of MSMEs to improve sales possibilities, especially during crisis periods.
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The Covid-19 pandemic has significantly impacted various sectors, especially the global economy, resulting in limited MSME operations and fewer consumers who shopped directly compared to regular days. The new eco-friendly marketing system utilizing technology is a new obstacle for MSMEs in marketing their products because it relates to understanding, readiness, and ability to apply the technology. This study explores implementing an integrated ecofriendly marketing strategy model by MSME actors in Central Java in the context of economic recovery after the Covid-19 pandemic. This type of research is exploratory qualitative research with the subject of MSMEs in eco-friendly products in Central Java. The data collection technique used non-probability sampling (snowball sampling). The analysis starts with data reduction, data presentation, and summarization. The results of the study indicate that the implementation of the "ECO CUTY" solution model can be done in three ways, including (1) entrepreneurial skills;(2) institutional strengthening as an economic force to produce quality products;(3) sociopreneur skills. The implication of this research is to provide a multiplier effect by improving MSME business performance at the international level through the government's role in facilitating online single submission program management in order to monitor developments comprehensively so that governments can later adopt the successful implementation of the "ECO CUTY" model in other countries.
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This study explored MSME's knowledge, usage, and preference of different Digital Technologies in business. This study will further reveal the preference of registered small business units between cash and cashless transaction. The researcher adopted the primary data collection method for this study. The owners/managers of the registered small business units were directly questioned. The data is collected from the Karkardooma complex area situated in the national capital of India i.e., Delhi. The information was gathered between December 2020 and February 2021. The findings of the study reveal that awareness among small business units about different digital payments and their advantages is high, but adoption is low. The result of the study indicates that the original TAM model i.e., perceived ease of use and perceived usefulness along with other factors i.e., subjective norm and selfefficiency has a significant impact on the behavioral intention of MSMEs. Further, demonetization and COVID-19 have forced many small businesses to opt for Cashless transactions but still, they prefer cash.
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The coronavirus (COVID-19) outbreak has terribly affected economic conditions in Medan City. One of the most considerably affected sectors by the COVID-19 outbreak is micro, small, and medium enterprises (MSMEs). This article aims to assess the impact of the COVID-19 outbreak on this business and provide policy recommendations to assist MSMEs in reducing business losses and surviving through the crisis. MSMEs are sectors of a significant role for regional economic growth. MSMEs contribute to the absorption of labour and the distribution of development results. In the current New Normal period, MSME business owners must have a surefire strategy for their business to survive and maintain continuity through various innovations. This research aims to develop MSME business strategies in the New Normal period to survive and maintain their business continuity. The data collection is done by identifying MSME obstacles by conducting surveys by distributing questionnaires, literature studies, and FGD with MSME observers in Medan. The final stage is concluded with the formulation of a strategy to be implemented by MSMEs to maintain the sustainability of MSMEs in Medan City in the New Normal period.
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Purpose: This study aims to explore the survival strategies carried out by local micro, small, and medium enterprise (MSME) actors to maintain their business, especially during the COVID-19 pandemic which lasted for more than two years. In Bali, the problems that arise with MSMEs are not only the layoff rate and loss of a number of consumers but also the emergence of competitors from new business actors who come from tourism workers affected by layoffs. Theoretical framework: Small and Medium Enterprises (Qosasi et.al: 2019) that are able to capture potential markets in the future are those who utilize Information and Communication Technology (ICT) in their business. Amadasun, D.O.E., Mutezo, A.T. (2022) show that the factors used to measure market-based strategies such as market orientation, the intensity of competition, and technology dynamics affect the competitive growth of SMEs. However, studies on the survival of SMEs in Bali are still important, given their role as the government's safety valve, namely the economic solution in times of crisis. Design/methodology/approach: The research was conducted using a qualitative approach through in-depth interviews with MSME actors at four locations in Bali, namely Buleleng, Tabanan, Gianyar, and Denpasar. From forty-two MSME owners, we found out four major implications of MSMEs' survival strategies amid the pandemic and in response to major layoffs and skyrocketing competitions which are: revisiting the implications of business agility, understanding the options for market penetration, gaining support from the government, and leveraging product development ideas. Findings: People's lifestyles lead business actors to think creatively, as part of the creative industry. Creativity and innovation are mandatory in the creative industry. People's lifestyles that are increasingly developing along with the capitalist movement which always seduces the public with the various product trends it creates have become opportunities for business actors, including SMEs. The existence of the community's need for clothing, food, and ritual products as major needs, has led SMEs business actors to penetrate products and markets. Produce the products to fulfill domestic needs. Products that were initially consumed by tourists were developed into local products, in order to meet the needs of people who want a product with a western image. In practice, not only are products diversified, but the way of marketing is also shifting from offline to online. Platforms in the form of YouTube Facebook Instagram, TikTok, and WhatsApp are the choices for business actors, both in urban and rural areas spread across Bali. Research, Practical & Social implications: This research would hope to clearly navigate MSME actors toward the most applicable survival strategies in their respective region and enable an interchange of ideas of other tactical plans through a comparative business differentiation supplemented by this informed research. © 2023 AOS-Estratagia and Inovacao. All rights reserved.
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The Corona Virus, or COVID-19, has become one of the world's issues, not only affecting health but also the Indonesian economy. One of the sectors that has been impacted was micro, small, and medium enterprises (MSMEs), whose performance has decreased. Entrepreneurial marketing and innovation capability have proven to increase the performance of MSMEs. However, it was still questioned whether entrepreneurial marketing and innovation capability would increase performance during COVID-19 pandemic. We collected data through an online survey to 290 MSMEs in West Java. Statistical analysis using SmartPLS reveal that entrepreneurial marketing (opportunity-driven, proactiveness, customer intensity, risk taking, resource leveraging, and value creation) and innovation capability (product innovation, serve innovation, process innovation, and business model innovation) have a significant effect on the performance of MSMEs (profitability, productivity, domestic market share, profit margin, competitiveness of the MSMEs, ability to maintain profit margin, and rate owners satisfaction with innovation level). Innovation capability has a greater influence, with a value of 0.465, compared to entrepreneurial marketing, with a value of 0.156, on the performance of MSMEs. Serve Innovation and Process Innovation have a significant impact on the dimensions of innovation capability that contribute to MSMEs' performance. Several practical and theoretical implications for entrepreneurs designing marketing strategies are discussed based on the findings. © 2023 The Author(s). Published by Informa UK Limited, trading as Taylor & Francis Group.
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Purpose: While business intelligence and analytic (BIA) systems have been developed by large corporations around the world, micro-, small- and medium-sized enterprises (MSMEs) have recently paid attention and deployed BIA adoption, particularly during the Covid-19 pandemic disruption. This study sheds light on how MSMEs adopt the BIA systems and then proposes a framework for the BIA adoption process in the context of MSMEs. Design/methodology/approach: The multiple case research design and interpretivism approach are employed for expanding the theoretical boundary of the strategic management fields in BIA adoption by MSMEs. In total, 35 semi-structured interviews were conducted with senior managers and owners involved in BIA adoption from 17 participating MSMEs. Findings: The research study identifies three BIA adoption stages with specific technical and managerial features in the path of BIA adoption in each stage, corresponding to the level of BIA maturity of MSMEs. The authors also highlight other factors that directly influence the successful adoption and transformation from each stage to another. Research limitations/implications: The research study identifies three BIA adoption stages with specific technical and managerial features in the path of BIA adoption at each stage that corresponds to the level of BIA maturity of MSMEs. Besides, this study also extends the current literature on BIA adoption in an organisation during the Covid-19 pandemic by identifying several contextual barriers that directly influence the BIA adoption. Practical implications: Research findings can help business leaders and owners of MSMEs to determine the BIA maturity of their organisation. Furthermore, the authors' framework can also be used by consultancies and standard setters to develop detailed BIA adoption strategies and tactics that support MSMEs' digitalisation towards BIA adoption. Originality/value: The research study's results highlight that contextual factors, leadership competencies, motivations and barriers for BIA adoption can also be used to help MSMEs' leaders and owners to trigger, advance or eliminate challenges for the adoption of BIA initiatives in MSMEs. © 2023, Emerald Publishing Limited.
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The purpose of this study is to find out the impact of the omnibus low cipta kerja on the sustainability of MSMEs and economic growth by applying the canvas model business method and the use of technology financial capital, especially Croudfunding and microfinance. The role of financial technology, especially in crowdfunding and microfinance, has an important role in improving the performance of MSMEs and will affect the increasing economy, when the Covid-19 Pandemic hit in Indonesia creating uncertainty in almost all aspects of life, especially the economy. To restore and maintain economic activity still running well, the government issued several policies One of which is maintaining the investment climate in Indonesia by omnibus low cipta kerja, the government provides ease, speed, certainty, and efficiency in business for entrepreneurs. Technology finance especially Crowdfunding and microfinance offer easy access to capital which is expected to help MSMEs to immediately contribute to increasing growth economy through MSME activities that have an impact on reducing unemployment, it is hoped that MSMEs can use the Business Model Canvas to survive because it can make actors MSMEs can capture potential business opportunities that can be taken. The enactment of Law Number 11 of 2020 omnibus low cipta kerja (Ciptaker Law) can provide The advantage for Micro, Small and Medium Enterprises (MSMEs) that a single license is related to MSMEs, for example, home industry licensing (PIRT) is made easier by (1) granting permits one door, (2) Provide incentives & facilities for medium and large businesses partnering with MSEs, (3) Integrated Management of MSMEs, namely by providing opportunities for local agencies involved in empowering MSMEs, (4) Ease and financing of fiscal incentives namely providing convenience and financing to improve the economy, (5) providing the government prioritizes the special Allocation Fund for the development of MSMEs, (6) provides Legal assistance and protection, (7) MSE products are prioritized for government service provision, (8) Partnership with MSMEs, (9) provides convenience for cooperatives. This research uses a Mix Method research approach is a combination of quantitative with a combination of qualitative. Using the combined method is expected to be able to complement each other from the research questions there has been. Quantitative emphasizes the technical analysis of statistical tests so that the data is more accurate Qualitative techniques emphasize process analysis of the inductive thinking process that is related to the dynamics of the relationship between observed phenomena and always using scientific logic. Where this method is a way of formulating and interpreting existing data to provide a clear picture of how to increase Indonesia's economic growth and the performance of MSMEs by implementing the canvas business model and using crowdfunding and microfinance as an intervening variable for the Job Creation Act that provides convenience for MSMEs. Results from this research are (1) There is an increase in the performance of MSMEs and an increase in the growing economy of SMEs that use financial technology, especially in Crowdfunding and microfinance as an alternative to capital requirements through the Job Creation Act, (2) There is an increase MSME performance and increasing economic growth for MSMEs using Business The Canvas Model (BMC) in analyzing the MSME sustainability strategy through the Job Creation Law, There was an increase in the performance of MSMEs and an increase in economic growth in MSMEs that using financial technology, especially in Crowdfunding and microfinance and Business Model Canvas (BMC) through the omnibus low cipta kerja. © 2023 WITPress. All rights reserved.
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In Indonesia, micro, small, and medium enterprises (MSMEs) cover nearly 90% of the business entities and become the backbone of national economic growth. However, during the COVID-19 pandemic, they encountered challenges in their marketing, which impacted their sales volume. Jember Regency has the highest number of MSMEs in East Java, Indonesia, and is renowned for agro-industry products such as peanut cookies (Kue Kacang). However, most MSMEs in Jember are lacking in applying digital marketing. It is not in line with the acceleration and development of the technology and information flows in 4.0, which has required MSMEs to adapt to these developments in their business. The purpose of this study was to reveal the implementation of digital marketing and the obstacles encountered in improving their sales performance. This study applied a qualitative approach. The research data was collected through semistructured in-depth interviews, observation, and documentation. The informants involved in this study are business owners of peanut cookie MSMEs in Jember. This study found that they use the owner's private account on Facebook and WhatsApp as their primary digital marketing platforms, while others used Instagram and TikTok. Surprisingly, none of them used e-commerce platforms such as due to their cluelessness with the system. In addition, the shortage of input production during the peak season has been a recurring issue for decades. Further, the result discovered that digital marketing makes it easier for MSMEs owners to communicate with consumers, provide information, and expand the market during the COVID-19 pandemic. © 2023 IEEE.
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Things can change quickly in life. The security of one moment can quickly become impermanent before we have a chance to realize it. This is certainly the case with the crisis that has resulted from the global outbreak of the coronavirus (COVID-19). Millions of people globally have been infected, and thousands have already died from the outbreak. The general public is advised to remain socially distant from one another and to regularly wash their hands. The global economy has gone into freefall, and a recession, if not a depression, now seems likely. Panic buying in the shops is common practice. No one knows what tomorrow holds. © 2021 International Council for Small Business.
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Micro, Small, and Medium Enterprises are one of Indonesia's economic buffer pillars. However, its position as a financial buffer still faces various problems. The purpose of this research is to examine the reduction of digitalization policies for Indonesian MSMEs and their implications for the development of the Islamic economy. This research is normative legal research with a statutory approach. The results showed that the provisions in the Copyright Law that require the digitization of MSMEs make its management more efficient and straightforward. During the COVID-19 pandemic, there has been a twofold increase in the number of businesses transitioning to the digital ecosystem. MSMEs are present in the development of the Islamic economy, with the possibility of managing MSMEs in the technology-based halal industry. Deregulation is carried out by simplifying regulations in order to improve the flow of bureaucracy. However, behind the ease, there are obstacles experienced by MSMEs in their digitalization efforts, including blocks in terms of community culture, regulation, and structure. © 2022, Institut Agama Islam Negeri Batusangkar. All rights reserved.
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Purpose: This paper aimed to examine the role of digital financial services on registered micro, small, and medium enterprises in India. This study examined the MSME knowledge, usage, and preferences about several digital financial technologies. Further, the paper discussed the impact of demographic variables on DFS adoption. Methodology: Primary data were gathered for the study. The questionnaire had three parts. The first part covered demographic variables. The second part identified questions related to DFS awareness and the reason for adopting DFS. The last part covered DFS adoption in various financial activities. Findings: DFS awareness in the MSME sector was high but far from the required level. Demonetization and COVID-19 also increased the awareness of DFS in the Indian MSME sector. The DFS adoption was found to be affected by the age and experience of the owner/manager. Also, the educational level of the owner/manager did not always impact the DFS adoption. Practical Implications: Digital financial service providers should increase customer satisfaction and reduce administrative expenses by making their website or application user-friendly to attract MSMEs. Additional government support is essential to enhance DFS awareness among MSMEs. Originality/Value: This study added to the limited existing literature on MSMEs and their knowledge of digital payments. © 2023, Associated Management Consultants Pvt. Ltd.. All rights reserved.
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Purpose: This study explores how employee engagement (EE) influences employee performance and how this relationship is moderated by job demands and job resources among micro, small and medium enterprises (MSMEs) in an emerging economy context during the COVID-19 pandemic. Design/methodology/approach: The study adopts the survey and quantitative approach to gathering data from 395 MSMEs operating in an emerging economy in sub-Saharan Africa. Data were analyzed using Partial Least Squares, version 3.0. Findings: The results reveal that EE significantly influences employee performance among MSMEs during the pandemic. Also, job resources were found to be significant predictors of EE in the MSME sector. In contrast, job demands did not have a significant effect on EE during the pandemic. Finally, job resources but not job demand moderate the relationship between EE and employee performance. Originality/value: This study is one of the earliest to explore the effects of EE on employee performance and how this relationship is moderated by job resources and job demands in sub-Saharan Africa's MSME sector since the influx of COVID-19. © 2023, Emerald Publishing Limited.
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The article investigates the impact of COVID-19 on micro-business enterprises (MBEs), establishing the coping strategies used to mitigate the impact and build resilience. A practical framework for building resilience is recommended for use by the enterprises as part of contributing to the entrepreneurial revolution agenda. An online survey using Survey Monkey was used to collect data from MBEs from a national sample in Zimbabwe. Key findings from the study include overwhelming evidence of the negative financial impact of COVID-19 on the MBEs and its impact on supply chain disruption and customer service. Practical recommendations include the need for MBEs to utilize creative resourcefulness by identifying tangible and nontangible resources in their ecosystem and utilizing their learning curve experience in dealing with precious disruptions to develop coping strategies for new challenges. MBEs should invest in the well-being of their employees and communities to foster collaboration for resilience building. © 2022 The Author(s). Published with license by Taylor & Francis Group, LLC.
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The COVID-19 pandemic had severe impacts in Latin America, with small businesses intensely affected. Beyond its economic consequences, the pandemic also exacerbated structural flaws in some of the region's weakly institutionalised democracies, diminishing State legitimacy and expanding that of organised criminal groups. In considering how State governance from above is challenged by non-state governance from below, this article examines a "pandemic micropolitics” as seen through the lens of support to the small business sector. We outline a framework to understand co-governance in hybrid political orders during crises;and examine this using case studies of urban informal markets and the transport sector in El Salvador. In showing that the pandemic contributed to a renegotiation of co-governance between the State, criminal organisations, and business associations, we contribute to understandings of the dynamics of distributive politics and the co-governance of crisis;and the potential implications for a post-COVID-19 political economy in Latin America. © The Author(s) 2023.
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This paper presents the results of an empirical study, conducted during the months of February to March 2021, with the objective of analyzing innovative activity in product, process and organizational innovation and its impact on the performance of MSMEs. An online survey was conducted with the participation of 430 companies stratified according to sector (Industry, Construction, Commerce and Services) and size (micro, small and medium enterprises). The model used was multiple linear regression, whose response variable was company performance and the explanatory variables were product, process and organizational innovations. The results showed that process and organizational innovations were statistically significant, while product innovations were not significant. The coefficients were positive, implying that the higher the degree of process and organizational innovation, the higher the company's performance is expected to be. These innovations included changes in production processes, acquisition of new equipment, improvements in management, new procurement and purchasing processes, and changes in sales and commercial management. All these innovations were made during the pandemic period. © 2022 IEEE.