Barriers and opportunities for hi-tech innovative small and medium enterprises development in the 4th industrial revolution era

Antoniuk, Larysa; Гернего, Юлия Александровна; Dyba, Vyacheslav; Polishchuk, Yevheniia; Sybirianska, Yuliia

doi:10.21511/ppm.15(4).2017.09

Cited by 24 publications

(21 citation statements)

References 6 publications

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“…The study of SMEs is a fundamental issue for the development of the national and European economies, as SMEs are the crucial building blocks of such economies, as stated by Belás et al (2018, p. 81). Antoniuk et al (2017) see this situation in a similar way.…”

Section: Research Aim Methodology and Datamentioning

confidence: 65%

Controlling as a tool for SME management with an emphasis on innovations in the context of Industry 4.0

Písař

Bílková

2019

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Research background: Small and medium-sized businesses are significant economic power and employer in the European Union. The modern globalized world, new technologies, and advanced connectivity bring SMEs a wide range of opportunities, but also threats. Increasing the stability and competitiveness of SMEs is one of the main goals of national governments and the EU. The research is based on personal research in SMEs, its experiences and backward testing of reached results. Purpose of the article: The aim of the paper is to analyze the possibilities the potential of using controlling as a managing tool of SMEs for increased competitiveness in the context of Industry 4.0 with an emphasis on innovations. Methods: The study is based on a detailed analysis of 341 SMEs from the Czech Republic obtained in the years 2017–2019. The data were analyzed using statistical methods such Pearson correlation, stepwise regression for the purpose of determining the relationship between the controlling management system of a company, its innovation potential, level of process maturity, number of employees, internal audit, financial stability and strategic plan. Statistical analysis confirmed the close relationship of the analyzed variables and backwards experimental testing of the statistical analysis conclusions defined critical factors in the area of people in an organization, usage of advanced information systems and Industry 4.0 technologies implementation. Findings & Value added: Those important areas were determined as essential for the successful development of SMEs, as well as the most significant threats in the Industry 4.0 environment. The information obtained is useful in practice and can be applied to a more in-depth analysis of the issues. The research findings are showing possible opportunities and treads for SMEs long term stability and development as well as ways to increase enterprise performance based on controlling management system.

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Section: Research Aim Methodology and Datamentioning

confidence: 65%

Controlling as a tool for SME management with an emphasis on innovations in the context of Industry 4.0

Písař

Bílková

2019

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“…Nevertheless, among respondents who actually took part in the survey there are 374 medium-sized and 380 small businesses from different branches and regions of Ukraine. Sample reliability was calculated using the Sample Size Calculator for Confidence at 5% interval and Confidence at 95% level 1 . The data were processed using table processor MS Excel.…”

Section: Methods and Research Questionsmentioning

confidence: 99%

“…Though, the great attention should be paid to FinTech trends, in particular to consumer/business lending and equity funding because of their great share according to estimations of Silicon Valley Bank. 1 According to the State Statistic Service of Ukraine at the beginning of 2017, there were 305,9 thousand SMEs in Ukraine, including 14,8 thousand (4.84%) of medium sized businesses, 291,9 thousand (95%) of small businesses. The large business share was 0.16%.…”

Section: Essence and Parameters Of Fintech Platformsmentioning

confidence: 99%

Fintech platforms in SME’s financing: EU experience and ways of their application in Ukraine

Ivashchenko

Брітченко²,

Dyba

et al. 2018

Investment Management and Financial Innovations

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The main aim of the given research is to develop an appropriate approach for creation of information FinTech platform with the EU standards compliance mainly for SMEs in order to support innovativeness of SMEs, improve their access to finance and simplify different financial processes. The authors defined the main features of FinTech platforms underlining types of FinTech, its participants and the most influential factors. The main trends of FinTech platforms development in the EU countries, such as the level of investment, impact of EU FinTech platforms on the global scale, features of investments into B2B FinTech, were determined. It was considered that in Ukraine, some positive changes in legislation were adopted, but the challenges like lack of finance, slow adoption of innovations in the financial market, not sufficient clarity of legislation remain among the main constraints for further development of FinTech platforms in Ukraine. The conducted analysis on the level of FinTech types performance by Ukrainian platforms showed only the great share of digital payments and money transfers, while other modern innovative FinTech instruments should not be underestimated for proper FinTech application in Ukraine. For this purpose, the authors have developed the Information Platform on Support for SMEs’ Innovations that consolidates interests of both SMEs and scientists. To determine both the SMEs’ opinion about the necessity of a particular Internet platform for them and the types of services that could be provided by the sme-sci.com platform, the authors conducted a survey in which 374 medium-sized and 380 small businesses took part. The results of the survey that are presented in the article confirm the necessity of the Information Platform on Support for SMEs’ Innovations and demand for it from the SMEs. Finally, the result of the research proves that such a unique informational platform as sme-sci. com that will serve as an interactive field for exchanging ideas and information of both representatives of scientific and business world is of great importance.

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“…Facing the 2012 debt crisis, governments decided to support SMEs and to obligate banks to tighten regulations in bank loan performance. It's generally accepted, that for SMEs in Southern European countries, it is more difficult to renew the pre-crisis indicators than in other counhttp://dx.doi.org/10.21511/bbs.15 (3).2020.08 tries of the European Union, because macroeconomic instability related to sovereign debt in them negatively affects the further economic growth. Despite this opinion, it is necessary to reconsider this point and learn from other countries that intend to join the European Union.…”

Section: Introductionmentioning

confidence: 99%

SMEs debt financing in the EU: on the eve of the coronacrisis

Polishchuk

Kornyliuk

Lopashchuk

et al. 2020

Banks and Bank Systems

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SMEs are the main drivers of economic development. As the debt crisis and coronavirus crisis show, despite their importance, they are extremely sensitive to economic downturns. Therefore, SMEs need to be supported through various tools. The paper is aimed at evaluating the SMEs’ bank and governmental support in the northern and southern EU countries in two crisis periods and assessing the financial state of SMEs on the eve of coronacrisis using micro-level data. It was proved that bank loans and credit lines remain the main sources of SMEs’ financing. After the debt crisis, banks are becoming more loyal to SMEs.It was proved that SMEs from the northern EU countries suffered less from the previous crisis and therefore started their recovery earlier than the southern ones in terms of profitability, liquidity and debt burden. In addition, it was shown that both groups on the eve of the new turbulence period were in better financial state compared to the previous debt crisis. The southern EU countries suffered more from both crises. At the same time, due to effective governmental support and bank loyalty, their SMEs entered the coronacrisis at the same level of financial stability as the northern ones. Since the new support measures are concentrated primarily in the banking sector through loan guarantee schemes and reduced interest rates, it is essential to provide debt financing to high-quality borrowers and avoid the debt crisis in southern counties.

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Barriers and opportunities for hi-tech innovative small and medium enterprises development in the 4th industrial revolution era

Cited by 24 publications

References 6 publications

Controlling as a tool for SME management with an emphasis on innovations in the context of Industry 4.0

Controlling as a tool for SME management with an emphasis on innovations in the context of Industry 4.0

Fintech platforms in SME’s financing: EU experience and ways of their application in Ukraine

SMEs debt financing in the EU: on the eve of the coronacrisis

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