Tetiana
Portovaras
Ternopil
National Economic University, Ukraine
E-mail: tanyavlas.77777@gmail.com
Zhanna
Harbar
Vinnytsia
National Agrarian University, Ukraine, Ukraine
E-mail: garbarjanna@ukr.net
Ihor
Sokurenko
Odessa
National Economic University, Ukraine
E-mail: igor_sokurenko@ukr.net
Iuliia
Samoilyk
Poltava
State Agrarian Academy, Ukraine
E-mail: iuliia.samoilyk@gmai.com
Submission: 12/26/2019
Accept: 1/7/2020
ABSTRACT
The purpose of the study is to identify the factors influencing the management of the activity of small businesses and to provide recommendations for its development through the resolution of crisis issues that prevent businesses from achieving strategic prospects and stable profits. The main factors for reducing the effectiveness of small businesses have been identified on the basis of the results of the questionnaire survey of one level of managers (small business directors), which should be taken into account in the formation of strategic management decisions and long-term development strategies. It is found that many of the factors are subject to managerial influence, which minimizes the negative impact on the performance of small business entities. The hypothesis that the main tool for stimulating small business development remains the state has confirmed with the help of research, but there is an urgent objective need to identify other factors that influence the activities of small businesses that impede their development and lead to closure. The study suggests that only a balance between the internal environment of small businesses and the regulatory framework of the state will allow them to work effectively in market conditions and provide the national economy with money. The authors present a position on the organization of a small business entity management system that reflects the links between processes and events in a market environment. The presented approach takes into account a number of elements of influence on a small business when forecasting its development in a strategic perspective. The results of the study showed that it is necessary to clearly identify the tasks at each stage of development of a small business entity, to form alternative models of its development by looking for ways to optimize activities and opportunities to avoid possible risks.
Keywords: management decisions; small business entities; taxation; definition criteria; factors of influence; management.
1.
INTRODUCTION
Small business in Ukraine is a
prerequisite for the development of economic and innovative potential of the
state. The functioning of small businesses can reduce the unemployment rate;
create a competitive environment, which leads to the development of innovative
approaches in doing business. In countries with mixed and market economies,
small businesses are an integral part of economic relations, and it is
therefore essential to have an effective management system in place throughout
their life cycle. Yes, in the US, 98% of small businesses go bankrupt because
of ineffective management and only 2% explain bankruptcy reasons as unrelated
to corporate governance.
In today's conditions of development,
profitable small business entities apply strategic management methods, focusing
on the formed enterprise strategy. Ukraine's economic space contributes to the
development of small business entities and concentrates strong potential.
A survey of small business entities has shown that
insufficient attention is paid to management practices in entrepreneurship in
Ukrainian practice. The need for this study is due to the fact that by grouping
management methods in accordance with the set goals of the enterprise, we can
quickly and effectively assess the crisis situation and choose the right
direction of development, aimed at strengthening the position of small business
in the national economy.
2.
LITERATURE REVIEW
Improvement of the system of
management in general and in small business of Ukraine in the conditions of
resource scarcity, in particular, is an important and topical area of
scientific research. It can be argued on a global scale that it
is of strategic national importance. Not only its economic stability but also
its place in the world economic market depends on the extent to which
individual entities operating in the state's economic system and itself can
effectively manage production. Thus, the argumentation and results of exploring
the possibilities of forming a more sophisticated management system are a
significant part of the scientific achievements that contribute to the
implementation of measures aimed at maximizing the efficiency and overall
improvement of the activity of small business entities.
It is important for businesses to
maximize their operations in the context of resource scarcity and energy import
dependency in order not only to be competitive in the market but also to have
economic preferences and benefits in an unstable global economy. In this regard,
the problem of improving management and its focus on achieving the best
financial results in small business is relevant and, at the same time,
complicated by the lack of relevant practices of management traditions in most
Ukrainian enterprises. However, this situation has improved significantly in
recent years. The activation of scientific research of Ukrainian scientists and
practitioners plays an important role in this.
Many illustrative examples of
achieving effective management of small businesses are in theory and practice.
Scholars and practitioners in general pay much attention to this issue. Many
authors call state regulation among the most influential factors influencing
the activity of small business entities.
The legal and economic frame work in
which enterprises operate is crucial to the performance of SMEs. The licensing
procedures that SME shave to abide by are seen as a hindrance to effective
operation (KARANJA et. al., 2013).
In addition, there are other reasons
that slow down the development of small businesses and lead to the decline of
small businesses and their bankruptcy.
Figures from the UK Department of
Trade and Industry 1 show that 65 percent do not survive beyond three years and
research by Barclays Bank 2 put save rage survival rates at 34 percent five
years from start-up (WILSON; BATES, 2003).
Various authors call external
influences among the reasons that adversely affect the functioning of small
businesses, lack of effective management skills, and others.
The main reasons are that management
resources are volatile and also that there are few, if any, systems in place to
support sustained, profitable and orderly growth (WILSON; BATES, 2003).
Ukrainian scientists, focusing on
the specifics of the functioning and management of small business entities,
emphasize the presence of regulatory, organizational, personnel and resource
problems (VAKHOVYCH; SHEIKO, 2016); PROSHCHALYKINA; DUDNYK, 2017).
These problems cover almost all the
important elements of a small business. However, the overwhelming majority of
Ukrainian scientists emphasize the need to improve normative regulation of
business entities and believe that this will have a significant positive impact
on the effectiveness of their management.
It is necessary to improve the
mechanisms of public administration and to strengthen the financial factor of
influence on the processes of business development in the country in order to
reach the level of developed countries in Ukraine and to increase the presence
and importance of small business (ZAHORSKYI et. al., 2019).
The purpose of the study is to
identify the factors influencing the management of the activity of small
business entities and to provide recommendations for its development through
the resolution of crisis issues that prevent enterprises from achieving
strategic prospects and stable profits.
3.
DATA AND METHODOLOGY
The theoretical
substantiation of the formation of an effective management system for small
business entities, based on existing problems, will significantly reduce the
risks and avoid unproductive losses. Advanced management systems will respond
to these challenges in a timely manner and prevent them. The reasoning behind
the need to develop such a management system is also: low efficiency of small
business entities; insufficient scientific and practical development on
problems of their management; increasing tension in meeting the needs of the
Ukrainian economy; availability of reserves for management improvement.
One of the promising
ways for solving the problem of forming an effective system of managing small
business entities is to identify the factors that affect their activities and
sustainable development. We believe that further research is needed to identify
the most influential factors in managing a small business, with further
improvement in the direction of their development.
Various
factors that directly influence the formation and rational development of this
sector of the economy affect the activities of small businesses. Small business
entities are extremely sensitive to changes in the market environment. At the
same time, these entities are the most vulnerable and vulnerable to bankruptcy,
despite the fact that they contribute to social and regional development.
We will give some examples to
clearly outline the most influential factors affecting small business entities
and require the increased management influence applied in different countries
to identify such entities. The criteria for identifying small business entities
in different countries are differ (Table 1).
Table 1: Criteria for identifying small
business entities
Country |
Criteria for identifying
small business entities |
|||
The number of employed
people |
Annual volume of sales |
Gross profit |
Share capital |
|
USA |
- defense industry: up to
1000; - other areas: up to 100. |
- |
- |
- |
Japan |
- defense industry,
transport: up to 300; - Wholesale: up to 100; - Retail and others: up to
50. |
- |
- |
- defense industry,
transport: up to 100 million yen; -Wholesale: up to 30 million
yen; - retail and others: up to
10 million yen. |
European Union |
up to 50; |
up to EUR 4.0 million |
- |
up to EUR 2.0 million |
Russia |
up to 100; |
400 million rubles |
- |
- |
Poland |
up to 50; |
250 thousand euros |
- |
min. 5000 PLN (1200 euros) |
Ukraine |
up to 50; |
- |
up to 10 million UAH. |
- |
Source: written by the author
himself
Certainly, in each country, the
criteria are set based on their own national beliefs and traditions. But the
table above suggests that the purpose of the management system through
different criteria will also be different. For example, if there are only restrictions
on the number of employees, then the management system will focus on ensuring
the efficient use of manpower. If there is a set amount of sales and gross
income, then the managerial influence will be directed to the fulfilment of
this criterion. In its essence, it will be restrictive, since usually when
going beyond the established level; it is obliged to switch to another tax
system.
The most important prerequisite for
the development of small business entities is the improvement of their management
system for the purpose of effective functioning and sustainable development.
The main task of the management
mechanism is to ensure the sustainability and stability of the development of
business structures, so it is necessary to form a new concept of development,
which will avoid risky environment in new economic conditions.
This
concept, in our opinion, should be based on:
·
the
role of the manager and his competence (specialty);
·
possibilities
of financial support of activity;
·
social
and economic, legal conditions and freedoms;
·
tax
preferences;
·
external
economic impacts and other factors.
Each of the above components
imprints not only on the activity of the small business entity as a whole, but
also on the quality level of its management.
In particular, the successful
activity of an enterprise in a risky environment depends on the level of
qualification of the businessman and his willingness to eliminate them. The
entrepreneur must combine the functions of economist, lawyer, manager and
analyzing the situation that has emerged at the enterprise to make independent
management decisions, taking into account its environment. As practice shows,
often the reason for the bankruptcy of the enterprise is the lack of
professional training of the manager and the ability to adequately analyze the
market situation.
The main lever of slowing down the
development of business activity is the lack of financing, which is mainly
carried out at the expense of entrepreneurs' own funds. However, not all
entrepreneurs can meet the financial needs of an entity only at their own
expense, so it is necessary to solve the problem of financing at the expense of
borrowed funds. Small business entities are constantly experiencing a shortage
of funds, so they need to solve this problem through the widespread use of
government programs of small business support.
When operating in an external
environment, the company must remember the correctness and effectiveness of the
formation of a management system and the creation of a mechanism for
interaction between the state and the business structure.
Equally important for the
development of the business entity is the correct formation of internal
processes at the enterprise itself and clarity in the performance of
professional duties of employees. The company must have an analytical
department that conducts strategic research and establishes patterns of
development in the context of economic reforms and selects the best areas of
activity, while forming a new system of methods and mechanisms for effective
management of labor, material and financial resources of production.
Distinctive factors affect the level
of business activity and the ability of an entity to quickly adapt to changes
in the environment and to use the necessary management methods to generate
entrepreneurial profit. Particularly acute is the problem in the tax system of
Ukraine, despite the numerous changes that are periodically introduced to the
tax legislation and aimed at improving it. Unstable tax laws, distortions of the
nature of individual types of taxes, unfair distribution of the tax burden and
the lack of transparent mechanisms to protect taxpayers diminish the economic
freedom of business entities.
Other obstacles to this plan include
bureaucracy, which exists at the stage of registration of a business entity in
various state institutions. Analyzing Ukraine's economic freedom rating
according to a US study by Heritage Foundation and The Wall Street Journal, we
see that in 2019 it ranked 147th among 170 countries and is
considered a free economy (Economic Freedom Index – 52.3) (Table 2).
Table 2: Comparison of Ukraine's economic freedom
rating with some other countries
Country |
Ranking |
Index
of Economic Freedom |
Hong
Kong |
1 |
90.2 |
Switzerland |
4 |
81.9 |
Australia |
5 |
80.9 |
Republic
of China |
10 |
77.3 |
USA |
12 |
76.8 |
Georgia |
16 |
75.9 |
Latvia |
35 |
70.4 |
Kazakhstan |
59 |
65.4 |
Russia |
98 |
58.9 |
Belarus |
104 |
57.9 |
Ukraine
|
147 |
52.3 |
Source: Rating of countries…,
2019
Compared to 2016, where Ukraine
ranked 162 among 178 countries (the Economic Freedom Index – 46.8), now its
indicators have increased. However, it still remains in the zone of countries
with a major free economy; close indicators are present in Tajikistan (Economic
Freedom Index – 55.6) and Uzbekistan (Economic Freedom Index – 53.3).
The above problems and factors that
affect the quality of small business management can be divided into external
and internal.
It is not enough to formulate
proposals for improving the management system and to build a model with better
quality parameters for identifying the factors that influence small business
entities. The next step to strengthening or weakening them (depending on
whether they are positive or negative) is to look for management ways to
influence them.
The management system must be
effective, i.e. the cost of its formation should be less than the results
obtained from its use. Not all factors can be considered for the optimum ratio
in small businesses. Therefore, it is important to rank the causes as their
impact on the small business entity management system is important in order to
select those to be considered.
We have developed a survey
questionnaire for this purpose. It is intended to analyse the environment in
which small business entities operate, identify the most influential factors in
their operations (Table 3).
Table 3: Questionnaire
Interviewee
__________________________________________
(name, surname,
position)
Survey
guidance: it is necessary to study the reasons for the bankruptcy of small
enterprises according to their importance:
1 – Does not affect at all, 2 – Has little effect, 3 – Difficult to answer; 4 – Has
moderately affecting; 5 – Has strongly influenced.
|
Does not affect at all |
Has little effect |
Difficult to answer |
Moderately affecting |
Strongly influenced |
Qualification training of the head of the enterprise |
1 |
2 |
3 |
4 |
5 |
Lack of strategic management at the enterprise |
1 |
2 |
3 |
4 |
5 |
Struggle between minority and major owners of enterprises |
1 |
2 |
3 |
4 |
5 |
Depreciation of fixed assets and lack of funds to upgrade them |
1 |
2 |
3 |
4 |
5 |
Motivating employees to fulfill their responsibilities |
1 |
2 |
3 |
4 |
5 |
The presence of a lot of abuse and fraud management |
1 |
2 |
3 |
4 |
5 |
Government support programs for small businesses |
1 |
2 |
3 |
4 |
5 |
Functioning of the analytical department at the enterprise. |
1 |
2 |
3 |
4 |
5 |
Increasing consumer demands and needs for enterprise products |
1 |
2 |
3 |
4 |
5 |
Increasing restrictions on environmental protection, active activity
of environmental organizations |
1 |
2 |
3 |
4 |
5 |
Internet crimes and virtual fraud |
1 |
2 |
3 |
4 |
5 |
Increasing share of high-tech products and services |
1 |
2 |
3 |
4 |
5 |
Small Business Taxation System |
1 |
2 |
3 |
4 |
5 |
The level of economic freedom in Ukraine. |
1 |
2 |
3 |
4 |
5 |
Note: Respondents were provided with a questionnaire
to rank the most influential and non-influential factors on the performance of
a small business entity by emphasizing the extent of impact of each criterion
from 1 to 5.
Source: It is developed by the
authors
According to a survey of 200 persons
who are directors of enterprises, the following results were obtained (Table
4).
Table 4: Results of a survey of small business
directors (200 respondents)
|
Does not affect at all |
Has little effect |
Difficult to answer |
Moderately affecting |
Strongly influenced |
Qualification training of the head of the enterprise |
8 |
2 |
15 |
56 |
119 |
Lack of strategic management at the enterprise |
1 |
10 |
8 |
35 |
146 |
Struggle between minority and major owners of enterprises |
78 |
45 |
17 |
33 |
27 |
Depreciation of fixed assets and lack of funds to upgrade them |
12 |
23 |
31 |
57 |
77 |
Motivating employees to fulfill their responsibilities |
9 |
11 |
5 |
23 |
152 |
The presence of a lot of abuse and fraud management |
1 |
16 |
23 |
18 |
142 |
Government support programs for small businesses |
2 |
6 |
1 |
17 |
174 |
Functioning of the analytical department at the enterprise. |
27 |
41 |
45 |
48 |
39 |
Increasing consumer demands and needs for enterprise products |
6 |
10 |
3 |
44 |
137 |
Increasing restrictions on environmental protection, active activity of environmental
organizations |
24 |
36 |
8 |
45 |
87 |
Internet crimes and virtual fraud |
4 |
6 |
5 |
24 |
161 |
Increasing share of high-tech products and services |
35 |
54 |
14 |
32 |
65 |
Small Business Taxation System |
2 |
1 |
4 |
21 |
172 |
The level of economic freedom in Ukraine. |
5 |
6 |
8 |
22 |
159 |
Note. Odessa, Ternopil and Vinnytsia region,
Ukraine
Analysing the results of the
conducted study, we find that the training of the director plays an important
role in the management of small businesses (119 respondents focused on this).
Researchers conducted by foreign scientists confirm the importance of the
qualification work of the manager and pay attention to the training of staff.
For example, Hog art het al (2009)
cite issues indicative of a lack of ambition, including: management skills: it
is highly skilled managers who are more likely to develop higher value-added
product/service strategies, which in turn have implications for skills and
training; management capacity: a lack of management time to devote to strategic
issues; influence of staff on training: claims that staff may be unwilling to
undertake training; imperfect
information: on the nature
and quality of
training available and
the value of
that training to the employer (KARANJA
et. al., 2013).
As a rule, if the enterprise is smaller, the less likely
that the manager correctly applies strategic management in its activities (146
respondents indicated no strategic management). From this we can draw 2
conclusions: the application of strategic management is not beneficial for
small businesses; there is a problem with the use of strategic tools due to the
lack of ownership of the management entities. The positive experience with the
use of models of their strategic development by individual small enterprises is
further supported by the second conclusion. Therefore, it is more likely that
the management of small business entities needs to have some knowledge in this
area and to properly understand the situations and financial management of the
enterprise using the elements of strategic management.
In addition, the size of the enterprise and its distance
from major cities and urban canter’s adversely affect the level of awareness of
financial instruments. Many respondents (142 persons) indicated in the survey
that there were a large number of abuses and frauds of management during the
activity of enterprises.
Generally, the smaller the enterprise,
the less likely its management will understand the need for financial
management and the poorer the understanding of financial management. Likewise,
the size and the distance from major cities / urban centres are negatively
related to the level of awareness of financial instruments (KARANJA et. al., 2013).
An equally important factor in
influencing the management and performance of small business entities is the
motivation of employees to fulfil their responsibilities.
Analysing the answers of the
respondents, we can see that it is one of the factors influencing the quality
of work of an entity that provides effective influence on the motivation of a
person's employment. For a long time, material incentives have been an
important way of influencing employees, enhancing their work activity and
contributing to a positive financial result.
In today's economic conditions,
consumers pay attention not only to the price of the product, but also to its
quality. Product quality is a major driving force in the market, which is
closely linked to the competitiveness of an enterprise in a market environment,
since we make a profit from the turnover of the product. On the one hand, it
characterizes the work and raises the ratings of a small business in a competitive
environment, and on the other hand, it must fully meet the basic needs of the
consumer.
The conducted survey confirms the
growing demands and needs of consumers for the products of the enterprise,
which also acts as an indicator of investor confidence, which will invest in its
own funds. Thus, products must meet all the developed standards and consumer
needs in order for products to lead the market and to take the first place in
the rating.
In today's society, computer
technologies have rapidly envolved, which, on the one
hand, optimizes the work of all small businesses, and on the other hand,
creates the risk of unlawful interference with business processes, that is,
committing Internet crimes, resulting in massive losses. There is a significant
increase in the opportunities for criminal activity using the Internet, which
is progressively increasing every year. E-wallets require special attention
from management staff, as anonymity in this case is not a barrier to online
fraud.
Such concerns were expressed by the
respondents who were given the questionnaire. 161 directors of small business
of the 200 interviewed noted that this factor has a strong influence on the
business of the enterprise, and 24 has a moderate influence.
An effective lever of influence to
overcome such negative aspects is a well-established system of regulatory
regulation and accountability. Successful development of entrepreneurship is
possible only in conditions of ensuring healthy competition, creation of favourable
climate and rational support from the state. Management provides targeting,
rapid adaptation to the changing environment, and increased competitiveness in
the global space, which will ultimately ensure long-term sustainable
development. In Ukraine, the business sector is represented by regulations,
strategic and programmatic documents of four levels: state, regional, micro
level and basic (Figure 1).
Figure 1: Normative and legal regulation of the
management of small business entities in Ukraine in a competitive environment
Source: it is generalized on
the basis of a study of current normative and legal acts and instructional and
methodological materials
The state has a special place in
regulating small business, which at this stage of development is experiencing
serious difficulties in growth. In Poland, for example, the state is working
closely with academic schools in financial research to increase the
profitability of small businesses.
The Ministry of Science and Higher
Education is responsible for the commercialization of scientific achievements,
in particular for research and development. The Ministry financially supports
the cooperation of the academia with businesses and finances research and
development in firms in Poland. A recent policy priority has been to boost
entrepreneur ship education with in higher education (MARKLUND et. al., 2017).
In Ukraine, the state policy is
implemented at different levels (Figure 1) and the Law of Ukraine “On State
Support and Development of Small and Medium-Sized Enterprises in Ukraine”,
according to which the state should provide adequate support, stimulate
investment and innovation activity of small business entities and create favourable
conditions in order to develop entrepreneurship. To date, favourable economic
conditions for the successful functioning of small business are not being
traced in Ukraine, as confirmed by the results of the survey of directors of
the surveyed entities.
Obviously, that the current tax
system needs optimization in order to improve the efficiency of tax relations.
The tax system of Ukraine slows down the process of small business
development because it lacks the funds received from tax collection to cover
the main expenditures of budgets, which in turn impedes the normal functioning
of the state's economy and development of the business environment. The state
has introduced tax cuts in order to get the economy out of the shadows, but we
should not expect a quick filling of the tax base, since most of the potential
payers will study exactly how this effect will be reflected on competitors who
are officially working and only then will accept one or the other.
It is known that the simultaneous
impact of a large number of external and internal factors on the enterprise
will lead to bankruptcy. Having analysed the results of the questionnaire, we
can state that bankruptcy in Ukraine is mainly caused by 1/3 external factors
and 2/3 by internal ones. Thus, improper regulation of internal processes and
the influence of external factors on enterprises can lead to bankruptcy, which
in the future will cause great damage to the national economy of the country.
It is necessary to take into account
the theoretical and practical aspects of the development of the national
economy and changes in the external environment when assessing the management
system of the business sector. The uncertainty of the environment, the
variability of the internal state and the inability to predict it necessitates
improvement of the enterprise management system, focusing on maximum adaptation
to the conditions of the risky environment.
Positive development dynamics will
be observed with rapid adaptation to changes occurring in the internal and
external environment. This property is very important for a small business
entity because a wrong decision can lead to negative changes in the management
system of the enterprise or its elimination. Given the above material and the
results of the questionnaire, we follow the urgent need to formulate the
concept of small business management in the current economic conditions.
Since small businesses are
influenced by both internal and external environmental factors, we propose a
new management concept for a small business entity that will strengthen the
positive side of the business and stabilize positions in a competitive
environment, or weaken the negative (Figure 2).
Figure 2: Decomposition of the system of
management of small business entities
Source: it is developed by the
author
The proposed scheme (Figure 2)
clearly shows us all the processes that occur in the functioning of small
businesses and displays the connection between the external and internal
environment.
4.
RESULTS AND DISCUSSIONS
From the conducted analysis we can
conclude that there are not enough favourable conditions for the development of
small business entities in Ukraine, so we believe that the main directions of
improvement of management should be:
· development and adoption of targeted
regional programs for small business development and support;
· introduction of a single vertical
system of executive bodies for small business from the Cabinet of Ministers of
Ukraine to district state administrations;
· improvement of the process of
production of products of the enterprise, which must meet state standards and
requirements, and consumer needs;
· creation of information and
analytical centers for the purpose of forecasting and
preventing bankruptcy and Internet crimes;
· organization of training and
retraining of qualified management personnel of small business, with a focus on
trends and development of computer technologies.
5.
CONCLUSIONS AND RECOMMENDATIONS
As a result of the conducted
research, there is a need to formulate recommendations for improving the tools
of further management of small business entities and identify alternative ways
of its optimization, which will avoid possible risks in the strategic
perspective of development.
According to the results of the
study, we suggest for small business entities to formulate clear development
strategies that will give them competitive advantages in a market environment.
At the same time, an important factor remains the quality of goods and their
satisfaction with consumers, that is, small businesses will create a brand that
is directly proportional to the efficiency of the business entity and its
profitability.
Analyzing
the survey of the reviewers, we recommend improving the internal control,
analysis and accounting of business processes, which will reduce the
possibility of making incorrect decisions in strategic management. In turn, we
will note the importance of state regulation of small business conditions and
lending programs.
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