Innovation Ecosystem in the Small and Medium Enterprises

Khan, Yasmin Kamall; Arshad, Azlin Shafinaz

doi:10.31580/jmi.v6i1.461

Cited by 8 publications

(8 citation statements)

References 48 publications

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“…Moreover, Small and Medium Enterprises must have an assessment of their business performance, have a business performance evaluation matrix that is applied regularly to ensure business growth (Mahmudova, 2018). Small and medium businesses must carry out open innovations such as understanding the desires of customers who put the commercial aspects into perspective, in addition to product innovations are also important to do, as an important note that small and medium businesses have very limited funding so the innovations carried out must be in accordance with its business goals (Khan & Arshad, 2019). However, to face the challenges of new normality besides information technology support, business organizations need personnel supports, then new normality will be a challenge to find alternative solutions for the organization's existence.…”

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confidence: 99%

Challenges and Opportunities for Small and Medium Enterprises in Eastern Indonesia in Facing the COVID-19 Pandemic and the New Normal Era

Irawan

2020

TIJAB

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Eastern Indonesia is one of the areas affected by COVID-19 pandemic. Small and Medium Enterprises (SMEs) such as; culinary businesses are the business sector most affected by this pandemic, where the implementation of social restrictions has resulted in decreased income and also changes in business patterns. This condition certainly provides new challenges and opportunities for SMEs owners. The purpose of this study is to explore the challenges and opportunities of SMEs in eastern Indonesia during the COVID-19 pandemic and the new normal era. The study uses a qualitative approach with an exploratory strategy. The results of the study found that to face the new normal era, SMEs have challenges such as the ability of human resources, understanding of information technology, and business model transformation. An interesting finding in this study is that in facing the new normal era, information technology is not a determining factor for increasing consumer trust and increasing income, but product hygiene and environmental sanitation are the determining factors for the existence of SMEs in eastern Indonesia.

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confidence: 99%

Challenges and Opportunities for Small and Medium Enterprises in Eastern Indonesia in Facing the COVID-19 Pandemic and the New Normal Era

Irawan

2020

TIJAB

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“…Their study focused on the financial constraints of SMEs, and they provide empirical evidence from a dataset of 30 transition economies, using logistic regression. Most studies agree that the entrepreneurial ecosystem plays an important role in the performance of SMEs (Beaudry et al 2021;Khan and Arshad 2019;Smorodinskaya et al 2017;Carlsson 2007). Yet, there is also a viewpoint that the ecosystem does not have an influence on the innovation performance of SMEs, but that it is probably confined to high technology, developed countries, or hubs.…”

Section: Introduction and Contextmentioning

confidence: 97%

“…In the last two decades, the relevance of small and medium enterprises (SMEs), especially in the areas of job creation and poverty alleviation, is gaining momentum in global academic discussion. A host of theoretical and empirical studies have identified finance and other business support as major determinants of the entrepreneurial ecosystem in that these two factors can make or mar the contributions and sustainability of SMEs in economic growth and development (Smorodinskaya et al 2017;Khan and Arshad 2019;Lose 2021;and Beaudry et al 2021). Pérez-Gomómez et al (2018) and Al-Tit et al (2019) highlighted the contributions of SMEs to the economic advancement of developed and developing economies, while Prokop and Stejskal (2019) attributed the success recorded by developed countries in job creation to business support from the governments at various levels.…”

Section: Introduction and Contextmentioning

confidence: 99%

Interaction and Main Effects of Finance Support and Other Business Support Services on the Entrepreneurial Ecosystem: A Case Study of the Mpumalanga Province, South Africa

2023

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Finance support and other forms of business support have been recognized as key factors in the entrepreneurial ecosystem in theoretical and empirical investigations. There is currently a knowledge gap regarding the combined impact of these two variables on the entrepreneurial ecosystem, even though much research has shown that both variables have a favorable influence on entrepreneurial ecosystems. The primary goal of this study is to determine whether the interactions between the two variables—finance support and other business support services—have an impact on the entrepreneurial ecosystem in South Africa. A second objective is to determine the main effects of these variables on the entrepreneurial ecosystem. A standardized questionnaire was used to conduct a study of 2000 SMEs in the South African province of Mpumalanga. To investigate the effects of business support services and finance on the ecosystem as measured by the test instruments, a two-way between-groups analysis of variance was carried out. Depending on their finance index, subjects were classified into three groups: low, medium, and high. There was a statistically significant main effect for finance and other business support services with F(2, 1478) = 26.109, p ≤ 0.001 and F(2, 1478) = 149.552, p ≤ 0.001 respectively. However, the effect sizes were small (partial eta squared = 0.034 and 0.168). Post hoc comparisons using the Tukey HSD test indicated that the mean scores differed for all the groups in finance support and other business support services. It was found that financial support and other business support would impact the SME ecosystem in South Africa positively if implemented separately but not if implemented interactively. The targets of financial support should be separated from other business support during policy formulation and implementation by the government.

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“…Despite the challenges confronting their take-off, SMEs have been identified as playing a significant role in the creation of employment, the reduction in poverty, the equitable distribution of income, the improvement of lifestyles, and the sustainability of growth and development across sectors [1][2][3]. Business operations and stability are affected by a variety of factors, including finance, the environment, the government, legal issues, competitors, clients, and trade associations, as well as business support and stakeholders [4][5][6][7][8][9]. The importance of financing and business support for the growth and survival of SMEs cannot be overstated according to [1,10], who placed a higher value on these two indices of the business ecosystem.…”

Section: Introductionmentioning

confidence: 99%

Impact of Elements of Finance and Business Support on the SME Business Ecosystem in South Africa: An Econometric Analysis

2023

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Studies conducted in South Africa have revealed that despite SMEs’ contributions to economic growth, financing is still a problem, and business supports such as management and business development training and the creation of business plans are additional obstacles to their expansion and survival. This article specifically investigates the combined effects of financing and business support on the business environment of South African SMEs. We calculated a necessary sample size of 1937 using a sample size calculator, a margin of error of 2%, a confidence level of 95%, and a response rate of 20%. As a result, 2200 questionnaires were distributed, the target population was split into 3 strata, and then samples were chosen for the survey from each stratum. The SPSS version 25.0 was employed to analyze the data in three parts, namely, descriptive, correlation, and the outcome of the regression (coefficients/model summary/ANOVA). The level of significance was determined at 5%. The test–re-test reliability method (trustworthiness assessment of the questionnaire) and Cronbach Alpha test (internal constancy) resulted in values of 0.70 and 0.875, respectively, which were regarded as satisfactory. The SME business ecosystem in South Africa was positively and significantly impacted by each of these financial and business support components. The findings also give policymakers vital information about the need for more research into how money and business assistance interact throughout the business ecosystem. It is advised that the South African government intensify its current policies and programs on SMEs’ access to financing, particularly in the areas of grants, equity financing, and loan financing. Additionally, it is necessary to build an adequate information system that ensures unrestricted information flow to rural areas.

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Innovation Ecosystem in the Small and Medium Enterprises

Cited by 8 publications

References 48 publications

Challenges and Opportunities for Small and Medium Enterprises in Eastern Indonesia in Facing the COVID-19 Pandemic and the New Normal Era

Challenges and Opportunities for Small and Medium Enterprises in Eastern Indonesia in Facing the COVID-19 Pandemic and the New Normal Era

Interaction and Main Effects of Finance Support and Other Business Support Services on the Entrepreneurial Ecosystem: A Case Study of the Mpumalanga Province, South Africa

Impact of Elements of Finance and Business Support on the SME Business Ecosystem in South Africa: An Econometric Analysis

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