Barriers and opportunities for hi-tech innovative small and medium enterprises development in the 4th industrial revolution era
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Received November 5, 2017;Accepted December 6, 2017;Published December 20, 2017
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Author(s)Link to ORCID Index: https://orcid.org/0000-0003-1389-4720Link to ORCID Index: https://orcid.org/0000-0002-6133-910XLink to ORCID Index: https://orcid.org/0000-0003-4075-3560
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DOIhttp://dx.doi.org/10.21511/ppm.15(4).2017.09
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Article InfoVolume 15 2017, Issue #4, pp. 100-113
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High-tech innovative SMEs’ development plays crucial role in economic growth of every country. It creates new work places and infrastructure, motivates people for creating new ideas. At the same time, SMEs still face with a huge number of problems in the business performance. The purposes of the research are: to define main barriers for high-tech SMEs’ development in the 4th industrial revolution era (4IR); to work out recommendations for policy-makers towards intensification of SMEs’ potential.
For this purpose, the authors reviewed studies devoted to the SMEs’ innovative development and revealed that main barriers of SMEs’ development are related to inefficient government support in this sphere. In order to work out recommendations for Ukrainian policy-makers in the area of SMEs’ development, the authors conducted a survey of local high-tech SMEs and on the basis of SWOT-analysis distinguished the main directions for their further improvement. Finally, a set of recommendations for improving SMEs’ environment in Ukraine, taking into consideration the challenges of the 4th IR, was developed.
- Keywords
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JEL Classification (Paper profile tab)O30, O38, O11
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References21
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Tables3
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Figures5
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- Figure 1. Contribution of SMEs to GDP (middle values) (Growing the global economy through SMEs)
- Figure 2. The Kauffman Index of startup activity (1997–2016)
- Figure 3. Main obstacles for SMEs growth in developing countries (Wang, 2016)
- Figure 4. Types of government support for development of innovations
- Figure 5. Areas of surveyed small innovative business activity
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- Table 1. The number of enterprises, employment and value added by SMEs and large enterprises in the EU-28 in 2015
- Table 2. SWOT-analysis of SME Development Policy Implementation in Ukraine, 2016
- Table 3. Roadmaps of development strategies in different countries
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Exploring fast moving consumer goods (FMCG) small, medium and micro enterprises manufacturers’ need for innovation to achieve growth
Lawrence Mpele Lekhanya , Nze Grace Olajumoke , Dorasamy Nirmala doi: http://dx.doi.org/10.21511/ee.08(2).2017.01Environmental Economics Volume 8, 2017 Issue #2 pp. 8-16 Views: 5575 Downloads: 1172 TO CITE АНОТАЦІЯThe purpose of this paper is to investigate the problems of the sustainable development, to explore the level of innovation in the fast moving consumer goods (FMCG) manufacturing SMMEs sectors, which most affects on the state of the environment, to identify the causes of low innovation in the industry and to examine these factors influence on the effectiveness of SMMEs manufacturers innovation strategies, as well as to invent a new innovation strategic approach to overcome innovation problems in the economic growth of fast moving consumer goods SMMEs manufacturers. The study is aimed to determine the level of innovation and factors contributing to low innovation in fast moving consumer goods (FMCG) SMMEs manufacturers, which hinder their economic performance. Mixed approach of quantitative and qualitative questionnaire is used for primary data collection. Sample consists of 120 SMMEs. Statistical Package for Social Sciences (SPSS) (23.0) was employed for data analysis. The study results are presented with figures and diagrams. This study will be a useful tool for general public and relevant stakeholders in this sector.
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