Study Of The Challenges That Hinder MSME Development In FYR Macedonia : Country Report for the British Council and Swedish Institute

In addition to this Study, a further six studies were produced. One for each of the countries, under investigation (Albania, Bosnia Herzegovina, Kosovo, Montenegro & Serbia) and a Main Report, which was published in May 2018.The Former Yugoslav Republic of Macedonia (to be referred to as FYR Macedonia from herein) is a landlocked country. It has made considerable progress since 2000 and the end of the Balkan Wars, but would still greatly benefit from raising its rate of economic growth. It has an interesting population profile with a dip in the economically important 25–34 years age range. We undertook a survey of aspiring entrepreneurs across FYR Macedonia. The sample was largely self-selected based on previous telephone surveys where respondents had expressed an interest in entrepreneurship, plus a review of the commercial register and referrals from respondents. The age distribution of aspiring entrepreneurs was under represented in younger age groups but higher in the 25–34 year old group compared with the population. Increased economic growth needs to be achieved against a background of relatively modest inflows of foreign direct investment, and disappointingly flat levels of gross domestic capital formation, contrasting with sustained increases in consumption. There has been significant progress in stabilising the trade balance. FYR Macedonia has a significant informal economy, a sizeable unemployment rate and a worrying loss of skills as qualified people migrate overseas. There have been sustained efforts to improve the skills training systems, but the vocational training system still needs support. Entrepreneurship aspirations are positive. There are few problems with structural issues such as ease of forming a company, although important regulatory simplifications (for example in property registration) are still needed. Five key issues stand out: 1. Access to finance is very challenging and acts as a significant barrier to both innovation and entrepreneurship. There is a particular need for access to affordable seed capital. This is a similar to the challenge being addressed by some of the rural micro-finance programs in Asia. 2. Connection to markets outside FYR Macedonia and the Western Balkans region is challenging for new entrepreneurs. 3. There is a considerable amount of energy and effort already being injected, but significant scope for improving the skills of entrepreneurial teams. 4. There may be a need to raise the entrepreneurial appetite of young people (under 25 years old). 5. FYR Macedonia seems to have incubated a significant number of opportunity-seeking entrepreneurs, rather than involuntary entrepreneurs seeking family incomes, but the support structure is limited. They might benefit from a focused event to bring together industries from across FYR Macedonia.Final Published versio

Study Of The Challenges That Hinder MSME Development In FYR Macedonia : Country Report for the British Council and Swedish Institute

In addition to this Study, a further six studies were produced. One for each of the countries, under investigation (Albania, Bosnia Herzegovina, Kosovo, Montenegro & Serbia) and a Main Report, which was published in May 2018.The Former Yugoslav Republic of Macedonia (to be referred to as FYR Macedonia from herein) is a landlocked country. It has made considerable progress since 2000 and the end of the Balkan Wars, but would still greatly benefit from raising its rate of economic growth. It has an interesting population profile with a dip in the economically important 25–34 years age range. We undertook a survey of aspiring entrepreneurs across FYR Macedonia. The sample was largely self-selected based on previous telephone surveys where respondents had expressed an interest in entrepreneurship, plus a review of the commercial register and referrals from respondents. The age distribution of aspiring entrepreneurs was under represented in younger age groups but higher in the 25–34 year old group compared with the population. Increased economic growth needs to be achieved against a background of relatively modest inflows of foreign direct investment, and disappointingly flat levels of gross domestic capital formation, contrasting with sustained increases in consumption. There has been significant progress in stabilising the trade balance. FYR Macedonia has a significant informal economy, a sizeable unemployment rate and a worrying loss of skills as qualified people migrate overseas. There have been sustained efforts to improve the skills training systems, but the vocational training system still needs support. Entrepreneurship aspirations are positive. There are few problems with structural issues such as ease of forming a company, although important regulatory simplifications (for example in property registration) are still needed. Five key issues stand out: 1. Access to finance is very challenging and acts as a significant barrier to both innovation and entrepreneurship. There is a particular need for access to affordable seed capital. This is a similar to the challenge being addressed by some of the rural micro-finance programs in Asia. 2. Connection to markets outside FYR Macedonia and the Western Balkans region is challenging for new entrepreneurs. 3. There is a considerable amount of energy and effort already being injected, but significant scope for improving the skills of entrepreneurial teams. 4. There may be a need to raise the entrepreneurial appetite of young people (under 25 years old). 5. FYR Macedonia seems to have incubated a significant number of opportunity-seeking entrepreneurs, rather than involuntary entrepreneurs seeking family incomes, but the support structure is limited. They might benefit from a focused event to bring together industries from across FYR Macedonia.Final Published versio

The Potential of Critical E-Applications for Engaging SMEs in E Business: A Provider Perspective

YesAgainst a background of the low engagement of SMEs in e-business this paper investigates the emergence of, and potential for, critical e-applications defined as `an e-business application, promoted by a trusted third party, which engages a significant number of SMEs by addressing an important shared business concern within an aggregation.¿ By a review of secondary data and empirical investigation with service providers and other intermediaries the research shows that such applications can facilitate the e-business engagement of SMEs. There are three key findings, namely: the emergence of aggregation specific e-business applications; the emergence of collaboratively based `one to many¿ business models; and the importance of trusted third parties in the adoption of higher complexity e-business applications by SMEs. Significantly this work takes a deliberately provider perspective and complements the already considerable literature on SME IT adoption from a user and network perspective. In terms of future research the importance of a better conceptual understanding of the impact of complexity on the adoption of IT by SMEs is highlighted

Challenges and success factors for implementation of lean manufacturing in European SMES

Small and medium-sized enterprises are crucial to value creation in the European economy. The SMEs need continuous improvement initiatives to stay competitive. However, SMEs are less likely to implement lean practices compared to larger companies. Limited research exists on the factors that are vital for succeeding with Lean implementations in SMEs. A case study of Norwegian and Belgium SMEs has been conducted in the European research project ERIP (European Regions for Innovative Productivity). Six critical success factors are suggested, which correspond well with previous research: 1) Ensure strong management involvement. 2) Develop thorough employee participation. 3) Allocate sufficient time for preparing the organisation. 4) Focus on creating motivation to complete initiatives. 5) Build competence internally in the organisation. 6) Establish a performance evaluation system

Study Of The Challenges That Hinder MSME Development In Montenegro : Country Report for the British Council and Swedish Institute

In addition to this Study, a further six studies were produced. One for each of the countries, under investigation (Albania, Bosnia Herzegovina, FYR Macedonia, Kosovo & Serbia) and a Main Report, which was published in May 2018.The European Commission’s Enlargement Package Report (2015), concluded that Montenegro continued to make progress as regards the political and economic criteria, and improved its ability to take on the obligations of EU membership. Good progress was made in improving the legislative framework for the independence of the judiciary and the fight against corruption (rule of law chapters, 23 and 24). However, Montenegro was tasked to make further progress in strengthening the institutional framework and in establishing a solid track record in the fight against corruption and organised crime. In December 2015, Montenegro received an invitation to join NATO, which was a major achievement; it became a member in 2017.  With a gross domestic product (GDP) of US 4.1 billion (constant 2010 value), Montenegro is the smallest economy in the Western Balkans and growth has been variable in recent years. However, Montenegro continues to play a constructive role in regional cooperation, ratifying its border agreements with both, Bosnia & Herzegovina and Kosovo. It terms of economic criteria, Montenegro has made progress in developing a functioning market economy (e.g. investments in infrastructure and tourism support economic activity). It has also strengthened the administration of its financial and labour markets, as well as on improving the business environment.. However, rapidly rising public debt and high fiscal deficits, together with high external imbalances and high unemployment are of concern. The combined effects of large-scale public infrastructure investments and several new expensive social expenditure programmes challenge fiscal sustainability. Montenegro is moderately prepared in its capacity to cope with competitive pressure and market forces within the Union. Some progress was achieved in improving the quality of infrastructure, the energy market and the digitalisation of the economy. SMEs support is modest but developing gradually. Unemployment in Montenegro is high, approaching 18% of the working population. However, this is average for the region, and only Serbia and Albania have lower rates. Montenegro is, however, a major importer of short-term labour to service the needs of the tourism, construction and agricultural sectors, which are the main pillars of its economy. However, substantial efforts are still required to develop human capital and a competitive export-oriented industry. In common with many of its Western Balkan neighbours, Montenegro has a skills shortage, although not to the extent of other countries. This shortage mainly translates into a need to import seasonal workers for the tourist, construction and agricultural sectors. Montenegro has a well-developed and competitive ICT sector compared with other countries in the region, but development remains in its infancy and there is a lot of potential for improvement. Despite this, business faces internal constraints and barriers, linked to skills, competences, finance and human resources. They also had problems with lack of information about foreign markets and how to access them. To contribute to the process of internationalisation, businesses need a better introduction to foreign markets, including information and facilitating access through contacts, legal and technical assistance or promotion. Total inward investment in Montenegro from other countries was US 3.3 billion in 2016. This level is low in absolute terms, particularly compared to other countries in the region (behind Serbia, Bosnia, Macedonia and Albania), but relatively high on a per capita basis. We undertook a survey of aspiring entrepreneurs across Montenegro. The sample was largely self-selected based on previous telephone surveys where respondents had expressed an interest in entrepreneurship, plus a review of the commercial register and referrals from respondents. The age distribution of aspiring entrepreneurs was under represented in younger age groups but higher in the 25–34 year old group compared with the population. Entrepreneurship aspirations are positive. There are very few problems with structural issues such as ease of forming a company. For example, establishing a business in Montenegro can be a time-consuming process. According to the World Bank’s Doing Business Report (2018), Montenegro was ranked 42nd globally for ease of doing business, a clear improvement on its previous ranking of 51st. Results from our survey, indicate five key issues stand out: 1. Access to finance is very challenging and acts as a significant barrier to both innovation and entrepreneurship. There is a particular need for access to affordable seed capital. This is a similar to the challenge being addressed by some of the rural micro-finance programs in Asia. 2. Connection to markets outside Montenegro and the Western Balkans region is challenging for new entrepreneurs. 3. There is a considerable amount of energy and effort already being injected, but significant scope for improving the skills of entrepreneurial teams. 4. The trading channels and payment methods accepted suggest our entrepreneurs are using basic business models, almost entirely face-to-face and strongly cash-based. 5. Three quarters of all businesses in the survey supplied larger organisations, which may be accounted by the very large public-sector base

Part 1 New SME curricula

We began our work at the first residential meeting in Accra (January 2010) by discussing the nature of SMEs (small and medium-sized enterprises) and entrepreneurship in a Ghanaian context, clarifying our understanding of the informal sector, and identifying priority areas for curriculum development. At an early stage, we recognised that there was a need to develop more appropriate courses to support enterprise education within our universities and also entrepreneurial learning beyond the campus, particularly in relation to the informal sector. This work informed the first phase, in which we began to engage with SMEs and their associations and to establish their various requirements through dialogue and knowledge sharing. This information was brought back to the second residential meeting in Kumasi (July 2010) as the basis for designing new types of provision. At Kumasi, we worked on two projects that are reported in more detail in the following sections: ♦ A problem-based design for the informal sector: the Sokoban Wood Village Project (Section 1.2) ♦ Strategies for curriculum review and course design in Ghanaian universities (Section 1.3

An enquiry into potential graduate entrepreneurship:is higher education turning off the pipeline of graduate entrepreneurs?

Purpose: In today’s global economy, high in talent but low in growth, the capability and skills mismatch between the output of universities and the demands of business has escalated to a worrying extent for graduates. Increasingly, university students are considering alternatives to a lifetime of employment, including their own start-up, and becoming an entrepreneur. The literature indicates a significant disconnect between the role and value of education and healthy enterprising economies, with many less-educated economies growing faster than more knowledgeable ones. Moreover, theory concerning the entrepreneurial pipeline and entrepreneurial ecosystems is applied to graduate entrepreneurial intentions and aspirations. Design/methodology/approach: Using on a large-scale online quantitative survey, this study explores graduate ‘entrepreneurial intention’ in the UK and France, taking into consideration personal, social and situational factors. The results point to a number of factors that contribute to entrepreneurial intention including social background, parental occupation, gender, subject of study, and nationality. The study furthers the understanding of and contributes to the extant literature on graduate entrepreneurship. It provides an original insight into a topical and contemporary issue, raising a number of research questions for future study.Findings: For too long, students have been educated to be employees, not entrepreneurs. The study points strongly to the fact that today’s students have both willingness and intention to become entrepreneurs. However, the range of pedagogical and curriculum content does not correspond with the ambition of those who wish to develop entrepreneurial skills. There is an urgent need for directors of higher education and pedagogues to rethink their education offer in order to create a generation of entrepreneurs for tomorrow’s business world. The challenge will be to integrate two key considerations: how to create a business idea and how to make it happen practically and theoretically. Clearly, change in the education product will necessitate change in the HE business model.Research limitations/implications: The data set collected was extensive (c3500), with a focus on France and the UK. More business, engineering and technology students completed the survey than others. Further research is being undertaken to look at other countries (and continents) to test the value of extrapolation of findings. Initial results parallel those described in this paper.Practical implications: Some things can be taught, others need nurturing. Entrepreneurship involves a complex set of processes which engender individual development, and are highly personalised. Higher Education Enterprise and Teaching and Learning Strategies need to be cognisant of this, and to develop innovative and appropriate curricula, including assessment, which reflects the importance of the process as much as that of the destination.Originality/value: This work builds on an extensive literature review coupled with original primary research. The authors originate from a variety of backgrounds and disciplines, and the result is a very challenging set of thoughts, comments and suggestions that are relevant to all higher education institutions, at policy, strategy and operational levels