scholarly journals COVID and Small Businesses in the U.S., China, and Russia: Three Models of Government Support

2020 ◽  
Vol 1 (2) ◽  
pp. p14
Author(s):  
Andrey Mikhailitchenko ◽  
Yang Sun ◽  
Sanjay Varshney
Keyword(s):  
Small Business ◽  
Small Businesses ◽  
Government Support ◽  
Business Sector ◽  
Critical Importance ◽  
Protective Measures ◽  
The World ◽  
National Economies ◽  
The Impact ◽  
The U.S

The impact of the world COVID crisis on small businesses was extremely destructive. Governments of different countries being aware of critical importance of small business sector to national economies and societies as a whole undertook measures aimed at SME support. While the devastating effect of COVID on small business is quite comparable across the world, the scale and efficiency of government protective measures differ a lot in various countries. In this paper we made an attempt of comparative analysis of governmental efforts to protect small business economies on the example of SMEs in three countries: the U.S., China, and Russia.

FEATURES OF THE RUSSIAN SMALL BUSINESS MODEL AND THE CONSEQUENCES OF THE COVID-19 PANDEMIC

2021 ◽  
pp. 71-85
Author(s):  
Natal’ya E. Egorova ◽  
Keyword(s):  
Small Business ◽  
Business Model ◽  
Small Businesses ◽  
Structural Characteristics ◽  
Bank Lending ◽  
Structural Instability ◽  
Government Support ◽  
Negative Consequences ◽  
Development Levels ◽  
The Impact

The article analyzes the quantitative and structural stability of Russian small business and identifies the model features of its functioning. It investigates the dynamics of development of Russian small business is investigated and notes a downward trend in the number of small and medium-sized enterprises over the past two years. A conclusion is drawn that the quantitative indicators reflecting its functioning are highly sensitive to the negative effects of the macroeconomic environment. The author introduces a concept of the small business heterogeneity and brings up its structural characteristics, represented by various categories of small and medium-sized firms. Comparative analysis of the Russian small business model with foreign small business confirms its quantitative and structural instability. That makes the considered sector of the national economy vulnerable to shocks (externalities), including the COVID-19 pandemic. It is assumed that the negative consequences of the pandemic will affect Russian small businesses more than foreign ones, and the gap in their development levels will widen. An assessment of the impact of the COVID-19 pandemic on Russian small business and a forecast of its development are made in the context of limited government support and the absence of active bank lending.

GLOBAL VALUE CHAINS AS A COMMON DENOMINATOR OF ENTREPRENEURSHIP IN THE “POST-PANDEMIC” WORLD.

2021 ◽  
Author(s):  
Ganira Ibrahimova
Keyword(s):  
Small Businesses ◽  
Global Value Chains ◽  
Global Scale ◽  
Value Chains ◽  
Common Denominator ◽  
Reproduction System ◽  
The World ◽  
National Economies ◽  
Global World ◽  
The Impact

There are already numerous opinions and forecasts about what the world economy will look like in the nearest future, in the wake of a post-pandemic period. The global world is facing now а social and economic crisis, never experienced before, the COVID-19 pandemic became a very significant trigger changing the way the world production was conducted in the previous era. In these conditions, large and small businesses are trying to cooperate with each other within the Global Value chains framework, to survive. As the main drivers of global production and financial systems, large corporations had to improve, but it is still difficult to say how long it will take. On the other side, after the pandemic recession, it is becoming more and more obvious that SME sector has increased its impact not only within the national economies, but also in a global scale. A huge amount of financial and institutional support is being provided to the SME sector by the governments, which eventually will lead to an improvement in the International Capital Reproduction System. However, there is still a gap in existing connections within the global value chains, which makes a big challenge for this integration process to be achieved. Although many aspects of globalization are now clearly understood, still there is scarce information on the transforming relations between large companies and their partners - smaller firms and the ways the formers integrate into the Global Value Chains. This study aims to define the evolution of the role of SMEs in the global value chains, identify and assess the factors that contribute to the integration of SMEs into global value chains and explore the impact of GVC onto their institutional framework.

scholarly journals Research on investment process dynamics taking into consideration stochasticity of world and national economies’ crisis phenomena

2020 ◽  
pp. 140-146
Author(s):  
L. M Buiak ◽  
N Harmatii ◽  
I Fedyshyn
Keyword(s):  
Foreign Direct Investment ◽  
Markov Chains ◽  
Direct Investment ◽  
The State ◽  
Government Support ◽  
Domestic Investment ◽  
Investment Activity ◽  
The World ◽  
National Economies ◽  
The Impact

Purpose. To analyze the flows of foreign direct investment (FDI) in Ukraine, countries of the OECD, the G-20, the EU, and the World, as well as the impact of the coronavirus COVID-19 pandemic on investment activity in the World; to identify problems and threats for investment activity in modern conditions, to identify relationship between FDI in Ukraine, the level of exports and imports of goods and services in Ukraine, to forecast these indicators. Methodology. In the process of research, general logical methods and research techniques were applied: analysis, synthesis, generalization, analogy, modeling, probabilistic (statistical) methods. The materials of the official analytical reports of the OECD, the European Commission, and the State Statistics Service of Ukraine were used to achieve the tasks of the investigation. The statistical data for the period 20112019 was analyzed. Forecast of foreign direct investment in Ukraine for the period 20202023 was implemented using the theory of Markov chains. Findings. The study indicates a significant decline in investment activity since the beginning of 2020 due to the coronavirus COVID-19 pandemic. Almost all economies in the world witnessed the impact of the crisis. There was a drop in investment activity in Ukraine output flows tended to decrease during 20092019. Taking into account the stochasticity of the processes taking place in the world economy, on the basis of the theory of Markov chains, forecasting of FDI in Ukraine was carried out. The modeling showed that in 2023 the situation with FDI in Ukraine would stabilize. Taking into account the predicted scenarios, the authors suggested that enterprises must focus on domestic investment and government support to overcome the crisis in the economy caused by the situation with COVID-19. Originality. The scientific novelty is in the use of the theory of Markov chains, which was adapted by the authors for research and forecasting of FDI in Ukraine till 2023. This theory makes it possible to take into account the stochasticity and instability of the processes occurring in the global and national economies. Practical value. The analysis of incoming and outcoming FDI flows and the identified threats to investment activity makes it possible to assess the dynamics of world economic processes and global competitiveness in the period 20112020. Using the tools of economic and mathematical analysis based on the regression influence, the degree of influence of direct investments in Ukraine on the dynamics of the GDP of the national economy and the level of exports and imports of goods were investigated. The forecasting of the dynamics of direct investments in Ukraine in the near future was carried out using the theory of Markov chains, which will allow working out appropriate decisions on the strategic development of the state.

scholarly journals SOCIO-ECONOMIC RESULTS OF THE SMALL BUSINESS ACTIVITY IN THE REPUBLIC OF CRIMEA

2020 ◽  
pp. 100-110
Author(s):  
G.V. Olkhovaya
Keyword(s):  
Small Business ◽  
Small Businesses ◽  
Entrepreneurial Activity ◽  
Innovation Activity ◽  
Business Sector ◽  
Social Efficiency ◽  
Economic Changes ◽  
Rate Of Development ◽  
The Republic ◽  
The Impact

In modern conditions, the level and rate of development of regions and the state as a whole are directly related to the dynamics of small and medium-sized businesses. The article provides an assessment of the socio-economic changes that occurred in the small business sector of the Republic of Crimea in 2015-2018. The system of indicators that reflect various aspects of its functioning and the impact on the region’s economy is analyzed. Indicators of entrepreneurial activity, social efficiency of small businesses, economic efficiency of functioning, investment and innovation activity are considered.

scholarly journals A roadmap for smart city services to address challenges faced by small businesses in South Africa

2017 ◽  
Vol 20 (1) ◽  
Author(s):  
Haydn Du Plessis ◽  
Annlize L. Marnewick
Keyword(s):  
Small Business ◽  
Smart City ◽  
Small Businesses ◽  
Smart Cities ◽  
Business Owners ◽  
Government Support ◽  
Small Business Owners ◽  
Business Support ◽  
Skills Shortages ◽  
The Impact

Background: Small businesses are an important part of the South African economy, yet they have high rates of failure. Several contributing factors have previously been identified through literature, including regulatory compliance, skills shortages and lack of government support. Globally, there has been an increased interest in smart cities and the variety of services they offer. These technologies were investigated to establish what role, if any, they could play in alleviating the challenges that small businesses face.Aim: Identify the relative impact of each of these challenges on the small-business and the relative value of each of the smart city services in order to determine which services would have the largest impact in addressing the challenges.Method: This research used these factors and identified which challenges had the largest time and financial impact on small businesses and investigated ways in which a variety of smart city services could be leveraged to address these challenges. Using a multi-criteria decision analysis technique, 44 small-business owners participated in the research. Weighted results for the impact of each of the challenges and the value of each of the services were obtained.Results: Through the subsequent analysis of the results, it was found that small businesses face many challenges because of lack of government and entrepreneurial support, as well as widespread corruption. Similarly, the small-business owners identified that educational material, small-business support portals and eGovernment systems would be the most valuable services that a smart city could offer them. Various sources of literature were used to identify these smart city services and link them to the business challenges that they may be able to mitigate. The infrastructural prerequisites for each of the services were also investigated to identify dependencies and potential problems in their deployment.Conclusion: The various aspects of this study were integrated, and a smart city roadmap for small-business support was subsequently developed. This roadmap will assist cities in planning their smart city deployment, so that they may better support small businesses in the role that they play in the country’s economy.

Productivity in the Small Business Sector, 1965-1976

1984 ◽  
Vol 8 (4) ◽  
pp. 49-55
Author(s):  
John B. Legler ◽  
Frank Hoy
Keyword(s):  
Small Business ◽  
Economic Analysis ◽  
Private Sector ◽  
Data Base ◽  
Small Businesses ◽  
Negative Impact ◽  
National Level ◽  
Business Sector ◽  
National Economic ◽  
The U.S

Recent concern regarding the performance of the U.S. economy has generated actions on a national level to encourage increases in productivity in the private sector. The private sector is not, however, monolithic. Policies designed to increase the productivity of large corporations may have a neutral or even negative impact on small businesses. This article describes a data base that has recently been developed for national economic analysis and reports differential productivity findings among businesses when they are examined by size on an industry by industry basis.

scholarly journals The Role of Small Business in the Economy and Methods of Its Government Support Using the Example of the Republic of Latvia

2019 ◽  
Vol 16 (2) ◽  
pp. 72-81
Author(s):  
Ludmila Verovska ◽  
Renate Zujeva
Keyword(s):  
Small Business ◽  
Small Businesses ◽  
State Regulation ◽  
Government Support ◽  
Practical Significance ◽  
Synthesis Methods ◽  
The Republic ◽  
Business Entities ◽  
The Impact

Abstract Research purpose. The purpose of this study was to determine the role of small and medium enterprises in the economy, as well as to study and evaluate the effectiveness of government support methods for small business entities (SMEs) using the example of the Republic of Latvia. The subject of the research was the system of state regulation and promotion of SME development. The object of the research was the sphere of small business in the Latvian economy, including SMEs, infrastructure support and development of small business. Design/Methodology/Approach. The study used basic methods of scientific knowledge of economics: an interdisciplinary approach combining methods of systems and comparative analysis, an integrated approach, induction, deduction, analysis, synthesis, methods of organization theory and management, logical analysis, strategic management and also economic analysis of small businesses. Findings. The research resulted in a system of state regulation and promotion of SME development in Latvia developed by the author, based on an assessment of the impact of measures provided to support SMEs, taking into account the importance of the role of small business in the economy of the Republic of Latvia. Originality/Value/Practical implications. The practical significance of the work is that the study completes a number of conclusions and practical recommendations in the field of organizational measures for effective support and multilateral development of the SME sector in the economy, recognition of the role of small business as the basis of the economic stability of the Republic of Latvia and the effectiveness of its support as the main state economic policy goal.

Covid Impact on Small Business

2020 ◽  
Vol 6 (12) ◽  
Author(s):  
Stavros Kalogiannidis
Keyword(s):  
Supply Chain ◽  
Small Business ◽  
Small Businesses ◽  
Global Trade ◽  
The World ◽  
Business Policies ◽  
The Government ◽  
The Impact

The sudden attack of COVID-19 has affected human lives and economies to a great extent. The lockdown and restrictions taken as measures by the government to stop the spread of the coronavirus are responsible to shut down many small businesses permanently. In this paper, we will get an idea of how the pandemic has affected small businesses. The world witnessed the largest fall in the number of active businesses. The supply chain got affected due to this and as a result, this affected global trade. Research shows that the impact of the pandemic on the small business and employees have changed the overall business policies facing economic imbalance.

scholarly journals Key Factors of Small Business Success: Literature Review

2015 ◽  
Vol 6 (4) ◽  
pp. 30-36
Author(s):  
Małgorzata Okręglicka
Keyword(s):  
Small Business ◽  
Literature Review ◽  
Continuous Improvement ◽  
Small Firm ◽  
Small Businesses ◽  
Business Success ◽  
Key Factors ◽  
Firm Success ◽  
The World ◽  
National Economies

The success of small businesses sector is crucial for national economies of all countries around the world. This is why the constant analysis of determinants responsible for small firm success is necessary. It allows for a quickreaction to changingbusiness conditionsandthe continuous improvement ofmanagement methods. Literature reviewindicated that theanalysis of key success factorsof smallbusinesses is a commonlyundertakensubject, although it is difficult tofind acomprehensivestudy, completely classifying the determinants ofsuccessaccording to certain criteria.

Assessment of small businesses activities in Ukraine

2019 ◽  
pp. 40-47
Author(s):  
Igor Ponomarenko ◽  
Kateryna Volovnenko
Keyword(s):  
Comparative Analysis ◽  
Statistical Analysis ◽  
Small Business ◽  
Small Businesses ◽  
Government Agencies ◽  
Small Enterprises ◽  
The Subject ◽  
Business Entities ◽  
The Impact ◽  
Micro Enterprises

The subject of the research is a set of approaches to the statistical analysis ofthe activities of small business entities in Ukraine, including micro-enterprises. The purpose of writing this article is to study of the features of functioningof small business entities in Ukraine. Methodology. The research methodology isto use a system-structural and comparative analysis (to study the change in thenumber of small enterprises by major components); monographic (when studyingmethods of statistical analysis of small businesses); economic analysis (when assessing the impact of small business entities on socio-economic phenomena andprocesses in Ukraine). The scientific novelty consists to determine the features ofthe functioning of small businesses in Ukraine in modern conditions. The influenceof the activities of the main socio-economic and political indicators on the activities of small enterprises in recent periods of time has been identified. It has beenestablished that there is flexibility in the development of strategies by small businesses in conditions of significant competition, which makes it possible to quicklyrespond to changing situations in specific markets. Conclusions. The use of acomprehensive statistical analysis of small businesses functioning in Ukraine willallow government agencies to develop a set of measures to optimize the activitiesof these enterprises, which ultimately will positively affect the strengthening oftheir competitiveness and will contribute to the growth of the national economicsystem.

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