This study looks to understand the uptake of Industry 4.0 and digital technologies by Small and Medium Enterprises and Micro Enterprises in the West of Ireland with a focus on the challenges of ...Industry 4.0 as well as current integration levels of Industry 4.0. This study finds that there is a high level of awareness of Industry 4.0 and digitalization and its benefits within West of Ireland SME's and Micro enterprises. However, a sizeable majority are not implementing any Industry 4.0 projects currently, nor is it a part of their strategy. 53% of participant organizations had implemented Lean, with 97% of those only implementing within the last 2 years. The challenges to Industry 4.0 were high costs, lack of state support and fear of choosing the wrong equipment/solution. This is the first empirical study on Industry 4.0 readiness within the West of Ireland Small, Medium and Micro Enterprise space which investigates the understanding of and the readiness for Industry 4.0 as well as the motivation and support required by these enterprises for Industry 4.0. Organizations, including government bodies, can use this study to understand the readiness for digitalization and Industry 4.0 in smaller enterprises as opposed to larger enterprises.
The COVID-19 pandemic has disrupted businesses worldwide, and small companies have been particularly affected. However, many small businesses have been able to adapt to the challenges posed by the ...pandemic by embracing digital transformation.
The aim of the study was to identify how micro-enterprises perceive the role of digital transformation, taking into account the experience related to the pandemic. The survey was conducted post-pandemic from January 2022 to April 2022. The study took a closer look at micro-enterprises to identify the companies’ strategies related to digital transformation. In particular, we focused on recognizing the areas of innovations implemented in connection with the difficult economic and social situation. The study found that most Polish micro-enterprises believe that digitization is necessary for business development, and they highly value the impact of IT solutions on the quality and value of managerial decisions. The implementation of solutions that improve remote contact with customers prevailed during the pandemic, while the impact of cloud computing on business processes was rated low. Lack of funds and time to identify new solutions were identified as the main barriers to implementing innovative IT solutions. Micro-enterprises widely use social media for business purposes, and a significant association was found between digital transformation and the need for remote work. The results suggest the need for better matching information materials, training plans, and support for digitizing small businesses. In this study, we tried to fill the research gap regarding micro-enterprises. This group is often overlooked in studies and reports focusing on the SME sector.
Micro and small businesses (MSEs) create jobs at a low cost and assist society's progress toward wealth and growth. The aim of the study is to examine major factors that determine the growth of MSEs ...in the Siltie Zone, in southern Ethiopia. Out of the total 2,244 MSEs units, 488 respondents were sampled for the study using stratified and simple random sampling techniques. Descriptive statistical tools and a binary logit model are applied. Employment was employed as a growth indicator in the study. The findings of the study showed that out of the total sample, 49% of MSEs were growing and 51% of MSEs were not growing in terms of employment. The results showed that individuals and their relatives are the main source of finance for the majority of MSEs for two major reasons. The first and the most important reasons are due to the religion factor. A majority of the respondents replied that access to credit is forbidden to Muslim followers. The second reason is unwillingness to access credit; they fear the high interest rate of debt, the complexity of the procedure, and the lack of collateral. In addition to that access to infrastructure, access to finance and government policy are the major factor affecting MSEs engaged in construction sector. The major independent variables affecting growth of MSEs engaged in manufacturing sector are access to infrastructure, working premises, government policy and market linkage. Access to finance, market linkage and business management capacity are the determinant factor hindering the growth of MSEs operating trade sector. Access to infrastructure, market place and government policy were the determinant factor affecting the growth of MSEs operating service sector. Access to working premises, market linkage, government policy and owner motivation are affecting the growth of MSEs operating urban agriculture sector. Hence, government organizations concerned with the promotion and development of MSEs needs to work with the factors in each sector for economic growth.
This article proposes an empirically derived method, Slow Storytelling, to construct and articulate value propositions, as a contribution to Business Model Innovation. Organizational actors and ...customers must be clear on what value an enterprise, product or service offers. This is increasingly important for products and services that leverage social, cultural, and environmental values. However, few existing models provide the framework and method to facilitate business articulation of value proposition for stakeholders. Our participatory ethnographic study conducted before and during COVID-19 in craft micro-enterprises in Uzbekistan addresses this gap. We co-created a novel method, ‘Slow Storytelling’, to innovate, enhance and articulate value propositions, by mobilizing and communicating the social, cultural, and environmental values; for example, by explaining the lived and sustainable history of the product. The method consists of eight steps to elicit consumers’ emotional connection with craft producers and trigger attention towards their social and environmental impact. Slow Storytelling can be adopted beyond our craft setting, to support the construction and articulation of value propositions.
Prior research has highlighted coopetition as a successful strategy for enterprise performance during a crisis; this has largely focused upon large firms therefore, limiting our knowledge of network ...coopetition in micro-enterprises. This article explores the impact of network coopetition on the robustness of micro-enterprises during COVID-19. A survey and interviews with craft food producers in Sweden were conducted; a measurement for firm robustness was created, indicating that 46% of respondents had successfully weathered the pandemic and were thus, considered robust. The findings show that micro-enterprises employing network coopetition as a strategy during the pandemic exhibited robustness. This article stresses the importance of micro-enterprises that broadly embrace network coopetition to withstand the negative effects of crises.
Considering account the accelerated development of globally active fashion micro-enterprises, this study investigates the sustainability strategies integrated into, with the business model of these ...organizations, as well as the particular stages and processes involved in their adoption. These research objectives are addressed by realizing a literature review on the implementation of sustainable business models in micro-organizations, and collecting and analyzing primary data through semi-structured interviews conducted with 19 French fashion micro-entrepreneurs. The findings indicate that these micro-entrepreneurs are well aware of both the advantages and challenges of sustainable strategies. In addition, it essential to take into account the specificity of these organizations, characterized by small size, low market power, and a low level of resources, but having the competitive advantages of quick decision making, operational and strategic flexibility, and close relationships with their customers, often intermediated by online technologies and social media platforms. The respondents also indicate that implementing sustainable strategies is a gradual process, involving an evolutive business model. Finally, the managers emphasize the problem encountered with balancing the three pillars of sustainable development in the context of their organizations, and the amount of effort and resources required to select, obtain and maintain sustainability certifications.
The United Nations’ 2030 Agenda for Sustainable Development aims to promote inclusive and sustainable economic growth and encourage the formalization and growth of micro, small, and medium ...enterprises through access to financial services. This study examines the impact and mechanism of the digital financial inclusion on the sustainable growth of small and micro enterprises in China. For this purpose, it uses the data from China’s New Third Board Market listed companies from 2011 to 2018 and the digital financial inclusion index of Peking University. The results show that the development of digital financial inclusion helps promote the sustainable growth of small and micro businesses, particularly in private, high-tech industries, and competitive markets. The impact mechanism of this development prevents any financial crisis caused by the capital structure imbalance and capital liquidity problems of small and micro enterprises by alleviating the financing constraints, thus promoting their sustainable growth. The research results show that, under the background of high-quality development of China’s economy, continuous promotion of digital financial inclusion and reshaping of the ecological pattern of the financial industry can provide steady financial support for the sustainable growth of small and micro enterprises, and realize the healthy development of micro enterprises and macro economy.
With the rapid development of China’s economy, small and micro enterprises have become an important pillar of the national economy. The financing mode and financing channels of small and micro ...enterprises have been greatly improved, but they are still not comprehensive enough. Credit financing is still the core financing mode of small and micro enterprises. However, most of them are small and micro enterprises. When applying for creditor’s rights financing, it is often difficult to get a satisfactory response. The financing difficulties of small and micro enterprises are the key factors hindering the development of small and micro enterprises. Therefore, it is of great significance for the financial management and development of small and micro enterprises to study the financing problems of small and micro enterprises and analyze the financial problems of small and micro enterprises. This paper summarizes Shenzhen’s finance in recent years through questionnaires. Supporting the experience, practice and achievements of small and micro enterprises in financing, combing the main demands of small and micro enterprises in financing and the problems in financing process of financial support for small and micro enterprises with data, and putting forward relevant suggestions and suggestions.
Purpose: The hegemony of SMEs in Mankweng Township has sparked the interest of researchers who aim to align them with the 4IR. The purpose of this study is to examine and provide constructive ...criticism on how the 4IR affects the productivity of SMEs. The argument is that SMEs in Mankweng Township are technologically lagging, resulting in low productivity. The research encompasses both positive and negative impacts of the 4IR on SMEs' productivity. The prevalence of SMEs in the area can be attributed to growth centres like the University of Limpopo, Mankweng Hospital, and Paledi Mall. These institutions attract students and employees, sustaining the local economy. Nonetheless, most SMEs in the Township are traditional and lack sophisticated technology. They are mainly located in South Africa's townships and rural regions, where they are easily accessible to the local communities. The growth of the 4IR has compelled these SMEs to adapt their conventional business practices to align with the rapidly changing technology. Design/Methodology/Approach: This study employed a quantitative approach to accomplish its objectives. Findings: The research findings demonstrate that some SMEs are currently underperforming, experiencing a decline in customers due to limited financial resources, human resources and a lack of advanced technology amongst others. Implications/Originality/Value: To address this issue, the study suggests that various stakeholders, including individuals, the private sector, and the government, should actively collaborate and provide concerted efforts and resources to support the growth and development of SMEs.
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