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2023 | Buch

Small and Medium-sized Enterprises, and Business Uncertainty

Just Surviving or Thriving?

herausgegeben von: Sujana Adapa, Tui McKeown, Miria Lazaris, Tanya Jurado

Verlag: Springer Nature Singapore

Buchreihe : Palgrave Studies in Global Entrepreneurship

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Über dieses Buch

Research in this book enhances the understanding of small and medium-sized businesses as a result of unprecedented challenges presented to them. It elaborates on how some small and medium-sized businesses not only survive, but also thrive amidst uncertainties, by embracing digital solutions or transformations.

To achieve this, the book adopts mixed research methods, with a combination of case studies, secondary data analysis and primary data analysis (survey information and/or interviews). Tables and illustrations are also included to provide the reader with a holistic understanding of small and medium-sized businesses from different cultural contexts.

Inhaltsverzeichnis

Frontmatter
MSMEs and SDGs—Narratives from India
Abstract
There are large numbers of micro, small and medium-sized enterprises (MSMEs) in many countries. The role played by MSMEs in the Indian economy cannot be dismissed as they promote economic growth and employment. There is currently considerable discussion around achieving the UN’s SDGs by 2030, and the contribution that MSMEs make to achieving these SDGs has been heavily discounted. The aim of this study is to understand whether or not MSMEs are contributing to the achievement of the SDGs in the Indian context and to develop a framework that will specifically allow assessment of the impact of MSMEs on the SDGs. A total of 15 in-depth interviews were conducted with start-up founders and business owner-managers of MSMEs in India. The results reveal that the motivations for business creation are necessity or opportunity or a combination (necessity/opportunity or opportunity/necessity) based on business type and linked to the attainment of economic, social and environmental dimensions. The incorporation of SDGs into business operations aligns with the value chain model stages of input, process and output, and shows MSMEs’ low, medium or high integration with the value chain stages. MSMEs that incorporate SDGs at specific stages of the value chain are identified as being narrow focused and those that align their activities and practices across all stages of the value chain are identified as being broad focused. The findings obtained from this study present important theoretical, practical, policy, social and societal implications.
Sujana Adapa, Subba Reddy Yarram
SME Sustainability in Turbulent Times of COVID-19: A Review of Literature and Future Directions
Abstract
The COVID-19 outbreak in 2020 disrupted businesses of small and medium enterprises (SMEs) worldwide. Lessons learned in dealing with the pandemic challenges offer crucial insights for the future sustainability of SMEs. The objective of this chapter is to present a comprehensive review of literature and chart the way forward. This chapter presents a summary of key findings on SME sustainability in turbulent environments as a conceptual framework that offers directions for practice, policy and future research. Key themes that emerge from the literature include—devastating impact felt by SME firms and their employees, the role of state intervention, evolving nature of work, need for business model innovation and the absence of risk management and knowledge management strategies in SMEs.
Vanita Yadav
A Conceptual Framework for an Integrated One-Stop Portal to Support Indigenous Small Business Enterprises
Setting Foundations for/Enhanced Policy Use, Financial Inclusion and Networking
Abstract
This book chapter examines the policies and programmes in place to support Indigenous Business Enterprises and whether there is an effective integration of technology platforms to enhance financial inclusion as set out in the National Business Sector strategy. This is part one of a phased research project which seeks to establish if there is a case for designing a one-stop integrated technology platform that provides IBEs with information on support services, networking and financial inclusion in line with the NBS strategy. A secondary data-based exploratory approach was used to identify and evaluate relevant broad government policies and programmes (and other white papers and research work) that deal with Indigenous people to achieve the aforementioned. (Federal and State); to identify Institutional representative bodies that target Indigenous peoples’ participation in business enterprises, specifically to identify, map and evaluate their programmes; and to identify comparative international government policies and programmes that specifically target Indigenous peoples’ participation in business enterprises to draw some lessons and benchmark practices.
Tendai Chikweche, Francine Garlin, Aila Khan, Michael Lwin
Is Knowledge Ambidexterity the Answer to Economic Sustainability for SMEs? Lessons Learned from Digitalisation Efforts During the COVID-19 Pandemic
Abstract
Economic sustainability has always been a major challenge for small and medium enterprises (SMEs), which intensified during the COVID-19 pandemic. We propose that the implementation of knowledge ambidexterity (KA) can be a solution for the economic sustainability for SMEs. We take a digital perspective to KA and emphasise that digitalisation efforts can achieve KA to leverage economic sustainability since SMEs face resource constraints, knowledge limitations and concentrated efforts towards exploitation processes in expense of exploration processes. We conducted an intervention-based multi-site case study research with SMEs recruited from India and the United Arab Emirates to investigate how digital technologies can support KA for SMEs. We found that SMEs that embark on digitalisation efforts can develop a strong foundation towards achieving KA. These efforts, in turn, resulted in improved market awareness, competitive advantage and innovation capacity for SMEs, thereby promoting economic sustainability.
Minu Saratchandra, Anup Shrestha
Insights from the Australian SMEs During the Pandemic
Abstract
The small business sector is among the hardest hit by COVID-19. Despite the devastation experienced by many small firms, some have responded to COVID-19 through renewed strategy and enhanced innovation, acting deftly to develop new products and/or processes. This study captures data on a range of factors that determine innovative behaviour and performance at two separate phases during the early stages of COVID-19 and provides insight on how this vital sector responded to unfolding uncertainty. The findings include age, size, industry, female ownership and strategy choice as among the factors associated with innovation during the initial stages of COVID-19. Practical and policy implications highlight the need for support that goes beyond the merely economic, and which supports the resilience and adaptation of smaller firms for years to come.
Tui McKeown, Sean Way, Miria Lazaris
SME Sentiments, Access to Government Support, and Resilience During a Pandemic
Abstract
The overall purpose of this research is to address gaps in extant research and considering the COVID context, this book chapter examines the business sentiment of SMEs given their pandemic experience; understand perceptions of the government support schemes; and identify strategies to build resilience to the challenges during and after COVID to mitigate any future disruptions. Approximately 300 SMEs in the Greater Western Sydney (GWS) were invited to complete an online business survey comprised of measures on business sentiment, resilience, and access to grants. Descriptive statistics were calculated using the quantitative responses, whilst the qualitative responses were thematically analysed. Findings suggest that SME owners who responded to the survey made some use of government schemes to support them during COVID-19. However, many were and remain challenged by the economic effects of the pandemic. A framework for understanding business sentiment and resilience building for future proofing is then outlined. These findings have important implications for scholars, policymakers, and SME owners.
Tendai Chikweche, Anna Evangelista, Michelle Cull, Felicitas Evangelista, Ann Dadich, Sheree Gregory
Entrepreneurial Ecosystem in India
Abstract
Entrepreneurship is an attractive concept and the number of entrepreneurs is on the rise. Entrepreneurial ventures are ever increasing as new business ideas are turned into new businesses. However, entrepreneurship is not viable without an enabling entrepreneurial ecosystem. The aim of this study is to understand the existing entrepreneurial ecosystem in India and identify the enablers and/or barriers. A total of 15 in-depth interviews were conducted with start-up founders and business owner-managers in India to explore their perspectives of the enablers and barriers in India’s entrepreneurial ecosystem. The results reveal that they consider that the existing government policies, taxation processes, business regulations, institutional environment and technology integration serve as the major enablers, and market competition, human capital, inadequate funding, skills shortages and corrupt practices are the barriers. As a way forward, communications around ‘doing business’ needs to be improved, best practice models of entrepreneurship must be widely publicised and targeted government programs that meet the unique needs of those with an entrepreneurial mindset should be developed.
Sujana Adapa, Subba Reddy Yarram
SMEs and Free Trade Agreements: Engagement and Policy Development
Abstract
Small and medium enterprises (SMEs) are key players in all economies and are widely credited with playing an important role in creating jobs and generating economic growth. SMEs who export are widely touted as drivers of growth, competition, innovation, productivity and employment. Moreover, levels of innovation and growth are higher amongst SMEs that trade, than those that don’t as exporters pay better wages, are more competitive and employ more people. Although SMEs play an important role in the economy and their internationalisation can contribute directly to market diversification, it is only recently that they have been explicitly considered as part of New Zealand’s free trade agreement agenda (FTAs), most notably in the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) agreement. This chapter explores the views of New Zealand SME exporters on FTAs as an enabler of exporting, and compares them to the views of an experienced trade negotiator. By considering the views of both SMEs and the Government, a more holistic perspective is provided as to how trade policy—and specifically trade agreements—might help address the needs of SMEs, and support their internationalisation, with attendant benefits for the economy and society at large.
Tanya Jurado
Pandemic Speed: Accelerating Innovation in Cyber Security
Abstract
Cyber security developers and threat-attackers have always had a reactive relationship. Developers spend time building secure defences only for attackers to exploit new vulnerabilities. Academic and practice literature revealed that human error and motivation plays a major role in the success of a cyber defence strategy and whilst technology and process have their place, implementation and management can significantly affect results. Organisations learn from experience protecting against human error with process and shadow IT with policy. Threat-actors also learn; sharing vulnerability information with others and developing new attack methods with their peers. COVID-19s’ isolation countermeasures may have shifted the balance of power towards the attackers. As cyberattack disruption moves from virtual to the physical world, countries must consider and weigh the benefits of international collaboration against potential exploitation by a more advanced collaborative partner. To address identified gaps, website analysis and in-depth interviews were conducted. I interviewed thirty staff in small and medium-sized Australian organisations to gain an understanding of their perspectives on cyber security and several of the findings may be relevant to future ways of working. No standards exist for cyber security products and configuration by unskilled consumers could increase the quantity of insecure devices available for threat actors to use for disruption and control. As COVID-19 created an environment where rapid innovation became a necessity, the ability to absorb intelligence and adopt more diversity in design and implementation becomes a necessary consideration for those who want to succeed. Creating pathways for cultures, genders and ages to collaborate, could help improve cyber defences for all.
Ian Wiltshire, Sujana Adapa, David Paul
A Conceptual Framework for Restaurants to Recover from COVID-19 Pandemic
Abstract
The COVID-19 pandemic has significantly affected businesses worldwide and hospitality organisations including restaurants are struggling hard to overcome the challenges imposed. The purpose of this study is to explore the post-pandemic recovery strategies practiced by restaurants worldwide and to formulate a conceptual framework for restaurants to help recover quickly from the challenges. By employing a literature review approach, details have been collected regarding the post-COVID-19 pandemic framework practiced in restaurants. The findings reveal that leadership and communication, and business model innovation is equally important in addition to practicing the regular safety procedures in restaurants. Based on the findings, a new framework for restaurants has been proposed for post-COVID-19 pandemic recovery.
Raja Kannusamy
The Nexus Between Narrative Identity and Entrepreneurial Actions Among Rural Female Entrepreneurs in Australia 
Abstract
This investigation aims to illuminate the nexus of narrative identity and entrepreneurial actions among rural female entrepreneurs in Australia. We explore the profound influence of ontological and contextual narratives on behaviours, strategic decisions, and venture outcomes. Using an inductive case study, we uncover how participants define themselves through narratives, exposing individual and collective identities. Our findings reveal the multifaceted challenges rural female entrepreneurs face, stemming from their geographical context and deeply rooted societal norms, that influence how they perceive themselves. This research contributes to the academic discourse on women’s entrepreneurship, offering a nuanced understanding of the complexities rural female entrepreneurs face in Australia. For policymakers, our insights underscore the importance of tailored support mechanisms that address identity-related barriers and promote gender-inclusive entrepreneurship in rural Australia. Ultimately, this study strives to empower and elevate the voices and endeavours of rural female entrepreneurs, fostering more inclusive and dynamic entrepreneurial ecosystems.
Angelo Saavedra
Small Business Owners Lament “Is that Really All My Business is Worth?”
Abstract
The overall purpose of this book chapter is to provide an evidence-based, experiential, value-oriented, coherent understanding of business exit and the impact of the pandemic on this decision for SME Business Owners. Triggers leading to business exit, types of exits, handling exits and exit timelines are discussed in detail from a small business practitioner’s perspective. Data analysed for a small business indicates that the final market price of a business is always established between a willing buyer and a willing seller. Henceforth, a comprehensive nation-wide study of SME owners is much needed to fully understand the business value of various exit options.
Denise Hall
Backmatter
Metadaten
Titel
Small and Medium-sized Enterprises, and Business Uncertainty
herausgegeben von
Sujana Adapa
Tui McKeown
Miria Lazaris
Tanya Jurado
Copyright-Jahr
2023
Verlag
Springer Nature Singapore
Electronic ISBN
978-981-9948-44-4
Print ISBN
978-981-9948-43-7
DOI
https://doi.org/10.1007/978-981-99-4844-4