Factors influencing the financial situation and management of small and medium enterprises
The ambition of this study was to identify the factors that influence the financial situations of small and medium enterprises (SMEs) in Somalia. The research objectives of this study were to determine how capital building affected the financial situations of SMEs in Somalia, how human resource capa...
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| Veröffentlicht in: | Journal of risk and financial management 2022-12, Vol.15 (12), p.1-16 |
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| container_title | Journal of risk and financial management |
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| creator | Zayed, Nurul Mohammad Mohamed, Isse Sudi Anwarul Islam, Khan Mohammad Perevozova, Iryna Nitsenko, Vitalii Morozova, Olena |
| description | The ambition of this study was to identify the factors that influence the financial situations of small and medium enterprises (SMEs) in Somalia. The research objectives of this study were to determine how capital building affected the financial situations of SMEs in Somalia, how human resource capacity affected the financial situations of SMEs, and what the impact of access to financing was according to the business conditions of SMEs. This study uses both descriptive and quantitative research approaches. The study's main demographics consisted of 90 SMEs in Somalia; the shortage of female personnel may also be a disadvantage, considering that most paying customers were female. The study's first research question was to investigate whether the use of committees improves the quality and efficiency of the board's tasks and mandates. The study's second research question was to determine the impact of human resources. The study's findings about market adoption of technological trends also revealed a strong positive relationship between human resource performance and financial performance. The Somali government should implement SME policies based on development and new growth industries, such as migration. Investment and credit firms, such as private sector banks and donor organizations, should lower the requirements for their investments. SME owners and managers should hire educated staff and increase the number of female employees. SME owners and managers should develop training schedules focusing on financial management, innovation, communication, and promotional abilities. |
| doi_str_mv | 10.3390/jrfm15120554 |
| format | Article |
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The research objectives of this study were to determine how capital building affected the financial situations of SMEs in Somalia, how human resource capacity affected the financial situations of SMEs, and what the impact of access to financing was according to the business conditions of SMEs. This study uses both descriptive and quantitative research approaches. The study's main demographics consisted of 90 SMEs in Somalia; the shortage of female personnel may also be a disadvantage, considering that most paying customers were female. The study's first research question was to investigate whether the use of committees improves the quality and efficiency of the board's tasks and mandates. The study's second research question was to determine the impact of human resources. The study's findings about market adoption of technological trends also revealed a strong positive relationship between human resource performance and financial performance. The Somali government should implement SME policies based on development and new growth industries, such as migration. Investment and credit firms, such as private sector banks and donor organizations, should lower the requirements for their investments. SME owners and managers should hire educated staff and increase the number of female employees. SME owners and managers should develop training schedules focusing on financial management, innovation, communication, and promotional abilities.</description><identifier>ISSN: 1911-8074</identifier><identifier>ISSN: 1911-8066</identifier><identifier>EISSN: 1911-8074</identifier><identifier>DOI: 10.3390/jrfm15120554</identifier><language>eng</language><publisher>Basel: MDPI</publisher><subject>Bankruptcy ; Capital costs ; Corporate governance ; Economic growth ; Employment ; employment creation in small and medium-sized businesses ; financial development ; financial management practice ; governance on financial performance of SMEs ; Human resource management ; Hypotheses ; Job creation ; Literature reviews ; Production capacity ; Profits ; Small & medium sized enterprises-SME ; SMEs ; Social progress ; Stockholders</subject><ispartof>Journal of risk and financial management, 2022-12, Vol.15 (12), p.1-16</ispartof><rights>2022 by the authors. Licensee MDPI, Basel, Switzerland. This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license (https://creativecommons.org/licenses/by/4.0/). Notwithstanding the ProQuest Terms and Conditions, you may use this content in accordance with the terms of the License.</rights><lds50>peer_reviewed</lds50><oa>free_for_read</oa><woscitedreferencessubscribed>false</woscitedreferencessubscribed><citedby>FETCH-LOGICAL-c380t-f64c7226390a512aca0aa24b22a64861e84dadee3714a8f916534a99a7f21f993</citedby><cites>FETCH-LOGICAL-c380t-f64c7226390a512aca0aa24b22a64861e84dadee3714a8f916534a99a7f21f993</cites><orcidid>0000-0001-7519-6552 ; 0000-0002-3878-802X ; 0000-0002-5305-6724 ; 0000-0002-2185-0341</orcidid></display><links><openurl>$$Topenurl_article</openurl><openurlfulltext>$$Topenurlfull_article</openurlfulltext><thumbnail>$$Tsyndetics_thumb_exl</thumbnail><link.rule.ids>314,780,784,27924,27925</link.rule.ids></links><search><creatorcontrib>Zayed, Nurul Mohammad</creatorcontrib><creatorcontrib>Mohamed, Isse Sudi</creatorcontrib><creatorcontrib>Anwarul Islam, Khan Mohammad</creatorcontrib><creatorcontrib>Perevozova, Iryna</creatorcontrib><creatorcontrib>Nitsenko, Vitalii</creatorcontrib><creatorcontrib>Morozova, Olena</creatorcontrib><title>Factors influencing the financial situation and management of small and medium enterprises</title><title>Journal of risk and financial management</title><description>The ambition of this study was to identify the factors that influence the financial situations of small and medium enterprises (SMEs) in Somalia. 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Mohamed, Isse Sudi ; Anwarul Islam, Khan Mohammad ; Perevozova, Iryna ; Nitsenko, Vitalii ; Morozova, Olena</author></sort><facets><frbrtype>5</frbrtype><frbrgroupid>cdi_FETCH-LOGICAL-c380t-f64c7226390a512aca0aa24b22a64861e84dadee3714a8f916534a99a7f21f993</frbrgroupid><rsrctype>articles</rsrctype><prefilter>articles</prefilter><language>eng</language><creationdate>2022</creationdate><topic>Bankruptcy</topic><topic>Capital costs</topic><topic>Corporate governance</topic><topic>Economic growth</topic><topic>Employment</topic><topic>employment creation in small and medium-sized businesses</topic><topic>financial development</topic><topic>financial management practice</topic><topic>governance on financial performance of SMEs</topic><topic>Human resource management</topic><topic>Hypotheses</topic><topic>Job creation</topic><topic>Literature reviews</topic><topic>Production capacity</topic><topic>Profits</topic><topic>Small & medium sized enterprises-SME</topic><topic>SMEs</topic><topic>Social progress</topic><topic>Stockholders</topic><toplevel>peer_reviewed</toplevel><toplevel>online_resources</toplevel><creatorcontrib>Zayed, Nurul Mohammad</creatorcontrib><creatorcontrib>Mohamed, Isse Sudi</creatorcontrib><creatorcontrib>Anwarul Islam, Khan Mohammad</creatorcontrib><creatorcontrib>Perevozova, Iryna</creatorcontrib><creatorcontrib>Nitsenko, Vitalii</creatorcontrib><creatorcontrib>Morozova, Olena</creatorcontrib><collection>EconStor</collection><collection>ECONIS</collection><collection>CrossRef</collection><collection>ProQuest Central (Corporate)</collection><collection>Access via ABI/INFORM (ProQuest)</collection><collection>ABI/INFORM Global (PDF only)</collection><collection>Entrepreneurship Database</collection><collection>ProQuest Central (purchase pre-March 2016)</collection><collection>ABI/INFORM Global (Alumni Edition)</collection><collection>ProQuest Central (Alumni) (purchase pre-March 2016)</collection><collection>ABI/INFORM Collection (Alumni Edition)</collection><collection>ProQuest Central (Alumni Edition)</collection><collection>ProQuest Central UK/Ireland</collection><collection>ProQuest Central Essentials</collection><collection>ProQuest Central</collection><collection>Business Premium Collection</collection><collection>ProQuest One Community College</collection><collection>Coronavirus Research Database</collection><collection>ProQuest Central Korea</collection><collection>Business Premium Collection (Alumni)</collection><collection>ABI/INFORM Global (Corporate)</collection><collection>ProQuest Business Collection (Alumni Edition)</collection><collection>ProQuest Business Collection</collection><collection>ABI/INFORM Professional Advanced</collection><collection>ABI/INFORM Global</collection><collection>Access via ProQuest (Open Access)</collection><collection>ProQuest One Business</collection><collection>ProQuest One Business (Alumni)</collection><collection>ProQuest One Academic Eastern Edition (DO NOT USE)</collection><collection>ProQuest One Academic</collection><collection>ProQuest One Academic UKI Edition</collection><collection>ProQuest Central Basic</collection><jtitle>Journal of risk and financial management</jtitle></facets><delivery><delcategory>Remote Search Resource</delcategory><fulltext>fulltext</fulltext></delivery><addata><au>Zayed, Nurul Mohammad</au><au>Mohamed, Isse Sudi</au><au>Anwarul Islam, Khan Mohammad</au><au>Perevozova, Iryna</au><au>Nitsenko, Vitalii</au><au>Morozova, Olena</au><format>journal</format><genre>article</genre><ristype>JOUR</ristype><atitle>Factors influencing the financial situation and management of small and medium enterprises</atitle><jtitle>Journal of risk and financial management</jtitle><date>2022-12-01</date><risdate>2022</risdate><volume>15</volume><issue>12</issue><spage>1</spage><epage>16</epage><pages>1-16</pages><issn>1911-8074</issn><issn>1911-8066</issn><eissn>1911-8074</eissn><abstract>The ambition of this study was to identify the factors that influence the financial situations of small and medium enterprises (SMEs) in Somalia. 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The Somali government should implement SME policies based on development and new growth industries, such as migration. Investment and credit firms, such as private sector banks and donor organizations, should lower the requirements for their investments. SME owners and managers should hire educated staff and increase the number of female employees. SME owners and managers should develop training schedules focusing on financial management, innovation, communication, and promotional abilities.</abstract><cop>Basel</cop><pub>MDPI</pub><doi>10.3390/jrfm15120554</doi><tpages>16</tpages><orcidid>https://orcid.org/0000-0001-7519-6552</orcidid><orcidid>https://orcid.org/0000-0002-3878-802X</orcidid><orcidid>https://orcid.org/0000-0002-5305-6724</orcidid><orcidid>https://orcid.org/0000-0002-2185-0341</orcidid><oa>free_for_read</oa></addata></record> |
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| identifier | ISSN: 1911-8074 |
| ispartof | Journal of risk and financial management, 2022-12, Vol.15 (12), p.1-16 |
| issn | 1911-8074 1911-8066 1911-8074 |
| language | eng |
| recordid | cdi_proquest_journals_2756725349 |
| source | MDPI - Multidisciplinary Digital Publishing Institute; EZB-FREE-00999 freely available EZB journals |
| subjects | Bankruptcy Capital costs Corporate governance Economic growth Employment employment creation in small and medium-sized businesses financial development financial management practice governance on financial performance of SMEs Human resource management Hypotheses Job creation Literature reviews Production capacity Profits Small & medium sized enterprises-SME SMEs Social progress Stockholders |
| title | Factors influencing the financial situation and management of small and medium enterprises |
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