The impact of the global financial crisis on small businesses
- Authors: Dontoni, Jovani Zavatunga
- Date: 2014
- Subjects: Global Financial Crisis , Small business
- Language: English
- Type: Thesis , Masters , MTech
- Identifier: vital:9333 , http://hdl.handle.net/10948/d1021187
- Description: The creation and survival of SMEs largely continues to depend upon access to financing. When a financial crisis in the USA becomes a global economic crisis, SMEs and entrepreneurs all over the world suffer what can be called a double shock; a drop in demand for goods and services and a further tightening in credit terms. It becomes important therefore, to have a strategy on how to tackle the difficulties created by the crisis. Governments are trying to respond by helping to support sales and prevent bankruptcy of SMEs; by increasing access to liquidity, and by helping SMEs to maintain their investment level. Adequate responses of small businesses to the global financial crisis will determine how they will be impacted by the global financial crisis. Many research studies have shown how businesses behave in times of economic abundance. Although over ten economic recessions occurred during the past century, research on the response of businesses to financial challenges remains low. For this reason, the aim of this research was to demonstrate the response of small business owners and managers to the global financial crisis. To achieve this objective, the researcher used an integrated study method, as follows: A systematic literature review of the importance of small businesses in the economy and the implications of the global financial crises in the world and the South African economies. An empirical survey was conducted on small businesses in the Nelson Mandela Bay area in order to demonstrate their response to the global financial crisis. The results of the literature review and the empirical survey allowed the research to come to the conclusion that during times of financial challenges, small businesses decrease the number of people employed (only employ the people needed), increase efficiency through management, and reduce costs through efficient operations. This study contributes to the literature on small business responsive behaviour during times of economic crisis. As a result, this study presents recommendations and suggestions to assist owners and/or managers to respond appropriately to times of financial contraction.
- Full Text:
- Date Issued: 2014
- Authors: Dontoni, Jovani Zavatunga
- Date: 2014
- Subjects: Global Financial Crisis , Small business
- Language: English
- Type: Thesis , Masters , MTech
- Identifier: vital:9333 , http://hdl.handle.net/10948/d1021187
- Description: The creation and survival of SMEs largely continues to depend upon access to financing. When a financial crisis in the USA becomes a global economic crisis, SMEs and entrepreneurs all over the world suffer what can be called a double shock; a drop in demand for goods and services and a further tightening in credit terms. It becomes important therefore, to have a strategy on how to tackle the difficulties created by the crisis. Governments are trying to respond by helping to support sales and prevent bankruptcy of SMEs; by increasing access to liquidity, and by helping SMEs to maintain their investment level. Adequate responses of small businesses to the global financial crisis will determine how they will be impacted by the global financial crisis. Many research studies have shown how businesses behave in times of economic abundance. Although over ten economic recessions occurred during the past century, research on the response of businesses to financial challenges remains low. For this reason, the aim of this research was to demonstrate the response of small business owners and managers to the global financial crisis. To achieve this objective, the researcher used an integrated study method, as follows: A systematic literature review of the importance of small businesses in the economy and the implications of the global financial crises in the world and the South African economies. An empirical survey was conducted on small businesses in the Nelson Mandela Bay area in order to demonstrate their response to the global financial crisis. The results of the literature review and the empirical survey allowed the research to come to the conclusion that during times of financial challenges, small businesses decrease the number of people employed (only employ the people needed), increase efficiency through management, and reduce costs through efficient operations. This study contributes to the literature on small business responsive behaviour during times of economic crisis. As a result, this study presents recommendations and suggestions to assist owners and/or managers to respond appropriately to times of financial contraction.
- Full Text:
- Date Issued: 2014
Difficulties experienced by small business managers in marketing their businesses
- Authors: Kpalou, Jean-Yves Gaba
- Date: 2012
- Subjects: Marketing , Small business
- Language: English
- Type: Thesis , Masters , MTech
- Identifier: vital:9016 , http://hdl.handle.net/10948/d1018635
- Description: The small business sector in today‘s world is considered seriously by researchers, scholars, policy-makers and governments as an important answer in addressing problems of unemployment, poverty alleviation, and redistribution of wealth. Promoting and encouraging the development of the small business sector is without any doubt a key factor for economic growth. However, this sector faced a high rate of businesses failure due to the many challenges among them, for example, the lack of marketing strategy and implementation in the conduct of the business. Several researches show the important role of marketing in a business but unfortunately it is still not a strong component in many organisations especially within the small business sector.For this reason the aim of this study was to investigate the difficulties experienced by small business managers in marketing their businesses. Taking the aim of this study into consideration, the primary objectives were to firstly look at the practice of marketing in small businesses and secondly to identify the difficulties of marketing experienced by small business managers.The literature study provided a brief overview of the small business sector, followed by a presentation of the practice of marketing in an organisation especially within small business enterprises. Moreover a discussion of the difficulties experienced by small business managers in marketing their businesses was also addressed through the literature review. The literature classified those difficulties into two types; (a)internal factors (lack of marketing planning and strategy, cost of marketing, lack of marketing expertise, perception of marketing) and (b) external factors (lack of knowledge of the market environment).The empirical study was conducted to evaluate the practice of marketing in small businesses and to see what marketing difficulties were experienced by small business owners and/or managers. Data were collected by means of a survey, using a questionnaire. Respondents were identified using the snowball sampling technique through the database of the Nelson Mandela Bay Chamber of Commerce. The data gathered from 67 usable questionnaires were analysed and interpreted. The results of the empirical study revealed that the biggest problems experienced by small business managers in the sample were the heavy cost of marketing followed by the lack of marketing expertise and finally the lack of marketing segmentation strategy. This study contributes to the enhancement of the literature on small business marketing with a focus on the difficulties experienced by owners and/or managers in implementing marketing. As a result this study presents recommendations and suggestions to assist managers in marketing their businesses.
- Full Text:
- Date Issued: 2012
- Authors: Kpalou, Jean-Yves Gaba
- Date: 2012
- Subjects: Marketing , Small business
- Language: English
- Type: Thesis , Masters , MTech
- Identifier: vital:9016 , http://hdl.handle.net/10948/d1018635
- Description: The small business sector in today‘s world is considered seriously by researchers, scholars, policy-makers and governments as an important answer in addressing problems of unemployment, poverty alleviation, and redistribution of wealth. Promoting and encouraging the development of the small business sector is without any doubt a key factor for economic growth. However, this sector faced a high rate of businesses failure due to the many challenges among them, for example, the lack of marketing strategy and implementation in the conduct of the business. Several researches show the important role of marketing in a business but unfortunately it is still not a strong component in many organisations especially within the small business sector.For this reason the aim of this study was to investigate the difficulties experienced by small business managers in marketing their businesses. Taking the aim of this study into consideration, the primary objectives were to firstly look at the practice of marketing in small businesses and secondly to identify the difficulties of marketing experienced by small business managers.The literature study provided a brief overview of the small business sector, followed by a presentation of the practice of marketing in an organisation especially within small business enterprises. Moreover a discussion of the difficulties experienced by small business managers in marketing their businesses was also addressed through the literature review. The literature classified those difficulties into two types; (a)internal factors (lack of marketing planning and strategy, cost of marketing, lack of marketing expertise, perception of marketing) and (b) external factors (lack of knowledge of the market environment).The empirical study was conducted to evaluate the practice of marketing in small businesses and to see what marketing difficulties were experienced by small business owners and/or managers. Data were collected by means of a survey, using a questionnaire. Respondents were identified using the snowball sampling technique through the database of the Nelson Mandela Bay Chamber of Commerce. The data gathered from 67 usable questionnaires were analysed and interpreted. The results of the empirical study revealed that the biggest problems experienced by small business managers in the sample were the heavy cost of marketing followed by the lack of marketing expertise and finally the lack of marketing segmentation strategy. This study contributes to the enhancement of the literature on small business marketing with a focus on the difficulties experienced by owners and/or managers in implementing marketing. As a result this study presents recommendations and suggestions to assist managers in marketing their businesses.
- Full Text:
- Date Issued: 2012
Difficulties experienced by small businesses in accessing finance
- Kouadio, Gbogbo Nina Marie-Laure
- Authors: Kouadio, Gbogbo Nina Marie-Laure
- Date: 2012
- Subjects: Economics , Small business
- Language: English
- Type: Thesis , Masters , MTech
- Identifier: vital:9015 , http://hdl.handle.net/10948/d1018633
- Description: Small and Medium Enterprises (SMEs) significantly contribute to the growth of the economy and the employment sector. However, it is indicated that SMEs lack access to the financial products and services that are critical to their growth. Therefore, the primary objective of this study was to investigate the difficulties experienced by small businesses in accessing finance. An online questionnaire survey was considered an appropriate measurement method for this study. The targeted population of the study included all small businesses operating in the Nelson Mandela Bay Metropole. Thus, some 208 companies were identified as part of the study sampling frame. A total number of 66 questionnaires were returned out of the 208 targeted companies - giving a response rate of 29 percent. The quantitative data were processed using a STATISTICA program, leading to appropriate descriptive statistical analyses, including frequencies, means, medians and standard deviations. In order to obtain a better understanding of the difficulties experienced by small businesses in accessing finance, hypotheses were also formulated and a t-test was used to establish the statistical significance of certain demographic variables and company characteristics regarding the problems experienced by small businesses in accessing finance. The results of the empirical study revealed that the major difficulties faced by small businesses in their access to finance were the lack of collateral and security, the high cost of borrowing interest and the delay in feedback from the financial institutions. Further, by testing the hypotheses, it was also revealed that the ethnic group of the applicant, the total years of business experience of the applicant and the annual turnover of the business have an impact on the access to finance. Based on the relevant literature study and the empirical results, recommendations were made in order to address the identified problems. However, the unavailability of an exhaustive small business database in the Nelson Mandela Bay Metropole did not allow the research to draw on a larger representative sample. Thus, this limitation has impeded in-depth statistical analysis that would have allowed the research to obtain more accurate findings. Further studies could investigate the reasons why in many cases financial institutions reject the funding of small businesses.
- Full Text:
- Date Issued: 2012
- Authors: Kouadio, Gbogbo Nina Marie-Laure
- Date: 2012
- Subjects: Economics , Small business
- Language: English
- Type: Thesis , Masters , MTech
- Identifier: vital:9015 , http://hdl.handle.net/10948/d1018633
- Description: Small and Medium Enterprises (SMEs) significantly contribute to the growth of the economy and the employment sector. However, it is indicated that SMEs lack access to the financial products and services that are critical to their growth. Therefore, the primary objective of this study was to investigate the difficulties experienced by small businesses in accessing finance. An online questionnaire survey was considered an appropriate measurement method for this study. The targeted population of the study included all small businesses operating in the Nelson Mandela Bay Metropole. Thus, some 208 companies were identified as part of the study sampling frame. A total number of 66 questionnaires were returned out of the 208 targeted companies - giving a response rate of 29 percent. The quantitative data were processed using a STATISTICA program, leading to appropriate descriptive statistical analyses, including frequencies, means, medians and standard deviations. In order to obtain a better understanding of the difficulties experienced by small businesses in accessing finance, hypotheses were also formulated and a t-test was used to establish the statistical significance of certain demographic variables and company characteristics regarding the problems experienced by small businesses in accessing finance. The results of the empirical study revealed that the major difficulties faced by small businesses in their access to finance were the lack of collateral and security, the high cost of borrowing interest and the delay in feedback from the financial institutions. Further, by testing the hypotheses, it was also revealed that the ethnic group of the applicant, the total years of business experience of the applicant and the annual turnover of the business have an impact on the access to finance. Based on the relevant literature study and the empirical results, recommendations were made in order to address the identified problems. However, the unavailability of an exhaustive small business database in the Nelson Mandela Bay Metropole did not allow the research to draw on a larger representative sample. Thus, this limitation has impeded in-depth statistical analysis that would have allowed the research to obtain more accurate findings. Further studies could investigate the reasons why in many cases financial institutions reject the funding of small businesses.
- Full Text:
- Date Issued: 2012
Epirismm: an enterprise information risk management model
- Authors: Lategan, Neil
- Date: 2006
- Subjects: Risk management , Small business , Information technology -- Security measures
- Language: English
- Type: Thesis , Masters , MTech
- Identifier: vital:9734 , http://hdl.handle.net/10948/541 , Risk management , Small business , Information technology -- Security measures
- Description: Today, information is considered a commodity and no enterprise can operate without it. Indeed, the information and the supporting technology are pivotal in all enterprises. However, a major problem being experienced in the business environment is that enterprise risk cannot be managed effectively because business and information-related risk are not congruently aligned with risk management terminology and practices. The business environment and information technology are bound together by information. For this reason, it is imperative that risk management is synergised in the business, ICT (Information and Communication Technology) and information environments. A thorough, all inclusive, risk analysis exercise needs to be conducted in business and supporting environments in order to develop an effective internal control system. Such an internal control system should reduce the exposure of risk and aid the safeguarding of assets. Indeed, in today’s so-called information age, where business processes integrate the business and ICT environments, it is imperative that a unary internal control system be established, based on a holistic risk management exercise. To ensure that the enterprise, information and ICT environments operate free of the risks that threaten them, the risks should be properly governed. A model, EPiRISMM (Enterprise Information Risk Management Model) is proposed that offers to combine risk management practices from an ICT, information, governance, and enterprise perspective because there are so many overlapping aspects inherent in them. EPiRISMM combines various well-known standards and frameworks into one coherent model. By employing EPiRISMM, an enterprise will be able to eliminate the traditional segmented approach of the ICT department and thus eliminate any previous discontinuity in risk management practices.
- Full Text:
- Date Issued: 2006
- Authors: Lategan, Neil
- Date: 2006
- Subjects: Risk management , Small business , Information technology -- Security measures
- Language: English
- Type: Thesis , Masters , MTech
- Identifier: vital:9734 , http://hdl.handle.net/10948/541 , Risk management , Small business , Information technology -- Security measures
- Description: Today, information is considered a commodity and no enterprise can operate without it. Indeed, the information and the supporting technology are pivotal in all enterprises. However, a major problem being experienced in the business environment is that enterprise risk cannot be managed effectively because business and information-related risk are not congruently aligned with risk management terminology and practices. The business environment and information technology are bound together by information. For this reason, it is imperative that risk management is synergised in the business, ICT (Information and Communication Technology) and information environments. A thorough, all inclusive, risk analysis exercise needs to be conducted in business and supporting environments in order to develop an effective internal control system. Such an internal control system should reduce the exposure of risk and aid the safeguarding of assets. Indeed, in today’s so-called information age, where business processes integrate the business and ICT environments, it is imperative that a unary internal control system be established, based on a holistic risk management exercise. To ensure that the enterprise, information and ICT environments operate free of the risks that threaten them, the risks should be properly governed. A model, EPiRISMM (Enterprise Information Risk Management Model) is proposed that offers to combine risk management practices from an ICT, information, governance, and enterprise perspective because there are so many overlapping aspects inherent in them. EPiRISMM combines various well-known standards and frameworks into one coherent model. By employing EPiRISMM, an enterprise will be able to eliminate the traditional segmented approach of the ICT department and thus eliminate any previous discontinuity in risk management practices.
- Full Text:
- Date Issued: 2006
- «
- ‹
- 1
- ›
- »