International Journal of Entrepreneurial Knowledge

SMME EFFICACY: AN IN-DEPTH ANALYSIS OF KEY CONSTRUCTS IN RURAL CONTEXT

2024-02-05T10:09:33+01:00

This paper investigates constructs fundamental to enterprise efficacy in Limpopo Province. Following the purposive sampling technique, 724 entrepreneurs operating Small, Micro, and Medium-scale enterprises (SMMEs) in selected rural areas of the province were sampled. Data collection was performed one-on-one using a structured questionnaire whose constructs were derived from an existing entrepreneurship prototype in Vhembe District. The analysis modelled on Multilayer Perceptron through IBM SPSS v27 suggests endogenous entrepreneurial capacity building in bridging networks, resilience, risk awareness, self-efficacy, and nonconformist factors. These were perceived as being lacking amongst the entrepreneurs and critical to enterprise efficacy in the area. Although exogenous construct tends to be less critical compared to endogenous, it poses a challenge to local enterprises. The factors include access to the market, enterprise financing, stiff competition, operational costs, lack of physical capacity, and sociocultural issues. Local infrastructure concerns and entrepreneurial capacity building need solutions at a local level to facilitate targeted support on the two identified constructs affecting SMMEs’ efficacy in rural areas. The study's emphasis on local-level solutions for addressing infrastructure concerns and enhancing entrepreneurial capacity building adds practical value. By highlighting the need for targeted support at the local level, it provides actionable insights for policymakers, local authorities, and organizations aiming to foster SMME efficacy in rural areas.

THE IMPACT OF PROCUREMENT TRAINING ON PROCUREMENT PROCESS EFFICIENCY AND ORGANIZATIONAL PERFORMANCE: A PLS-SEM ANALYSIS

2024-03-22T09:50:53+01:00

This study delves into the role of procurement training on procurement process efficiency and its subsequent impact on organizational performance. Employing the resource-based view theory as a theoretical foundation, the research adopts a quantitative approach, utilizing Partial Least Squares Structural Equation Modeling (PLS-SEM). This study adopted a purposive-convenient sampling technique to select the needed respondents. 312 procurement officials from diverse institutions in Ghana as participants were engaged in the study. The findings reveal a significant effect of procurement training on procurement process efficiency and organizational performance. The positive correlation between procurement and process efficiency contributes to enhanced organizational performance. These results emphasize the pivotal role of training interventions in optimizing the procurement process, benefiting overall organizational effectiveness. Recognizing the substantial impact of training on enhancing efficiency and, in turn, organizational performance, organizations are encouraged to invest strategically in procurement training programs. This research contributes valuable insights to the field, offering a nuanced understanding of the interplay between training, process efficiency, and organizational performance in the procurement domain.

MODEL OF PREDICTING ENTREPRENEURIAL INTENTIONS AMONG TEACHERS

2024-02-04T18:28:29+01:00

This research explores the impact of individual and educational factors on the entrepreneurial intentions of primary school teachers in Serbia, analysing a sample of 706 participants. The study utilizes the Entrepreneurial Propensity Questionnaire and the Entrepreneurial Intentions Questionnaire to assess constructs like self-confidence, need for achievement, need for independence, and locus of control. Through robust statistical methods, including Principal Component Analysis, Confirmatory Factor Analysis, and Structural Equation Modelling, the research identifies critical factors influencing entrepreneurial intentions and validates the model's fit and construct validity. The findings reveal a significant positive influence of entrepreneurial education, self-confidence, and the need for independence on entrepreneurial intentions. Notably, entrepreneurial education emerges as a substantial predictor, highlighting its role in nurturing entrepreneurial mindsets. Conversely, the need for achievement exhibits an unexpected negative correlation with entrepreneurial intentions among teachers, suggesting a distinctive career orientation within this demographic. The study underscores the importance of integrating entrepreneurial components into teacher education, advocating for curricular reforms that foster entrepreneurial competencies. This approach aligns with the evolving educational demands, aiming to cultivate not just knowledge conveyors but also innovators and change agents in the educational landscape. In conclusion, the research contributes to the broader understanding of factors shaping entrepreneurial intentions, offering valuable insights for curriculum developers, policymakers, and educational institutions. It emphasizes the significance of entrepreneurial education in empowering teachers to inspire and instil entrepreneurial spirit in the next generation, thereby enriching the educational ecosystem.

GENDER NORMS AND DEMOGRAPHICS IN ENTREPRENEURSHIP AND DIGITAL FINANCIAL SERVICES UTILIZATION

2024-02-18T16:47:51+01:00

This study sought to estimate gender norms and demographics in entrepreneurship impact in the utilization of digital financial services (DFS) in the context of Kenya using the 2021 FinAccess Survey, which is a joint initiative of the Kenya National Bureau of Statistics (KNBS), Financial Sector Deeping (FSD) Kenya, and the Central Bank of Kenya (CBK). It also aims to identify the obstacles and difficulties that women encounter when embracing and utilizing digital financial services. The study employed the Probit Model to identify the gender differences in access to DFS in Kenya. Consumer behavior theory was used to determine consumer demand for digital financial services (DFS). The findings showed that education level, gender, digital credit, mobile ownership, age, and income levels significantly explain the utilization of diverse digital financial services, including digital credit. A significant 78 percent of the population was found to have adopted digital financial services (DFS). The study recommends robust enactment and implementation of policies with a sole focus on the adjustment of income, mobile acquisition, and improvement of education levels amongst individuals, which would enhance the usage and access of digital financial services in Kenya, particularly among women. To overcome mobile ownership barriers, subsidized smartphone initiatives and expansion of network coverage in rural and underserved areas have emerged as pivotal strategies. These actions would effectively improve access to digital financial services by increasing mobile ownership, particularly among women. This study adds to the expanding corpus of research on gender studies and digital financial services. Scholars, researchers, and academics interested in these fields will be invaluable resources.

NAVIGATING RETIREMENT: EMERGING AND CHALLENGING SMART FINANCIAL STRATEGIES FOR THE AGING ADULTS

2024-02-05T09:32:53+01:00

The Smart Financial Strategies for Aging Adults is a tailored approach designed for older individuals to enhance awareness of the risks of financial exploitation and equip them with the skills to plan and make informed financial decisions. This study aimed to assess the financial circumstances of older adults engaged in retirement financial planning and identify ways to enhance support for their financial well-being. Through individual, in-depth interviews with 29 participants facilitated outside Nico Life Insurance in Lilongwe, Malawi, three key themes emerged: vulnerability to financial fraud scams, challenges with money management, and difficulties in meeting financial obligations. Approximately 40% of the respondents indicated that their annual household income was less than MK10 Million (equivalent to 5,883 USD), while an additional 35% reported an income range between 10 million and 15 million Kwacha. 82.8% of the participants were either retired or not seeking employment at the time of the interview, hence substantiating their level of retirement. The Smart Financial Strategies has proven valuable to comprehend for older adults, especially those from middle and low-income backgrounds, who may lack access to financial education workshops or seminars offered by private or Government financial institutions. Participants acknowledged the Smart Financial Strategies for Aging Adults as beneficial if learned at their younger ages than older ages, as it heightened awareness of the importance of their financial well-being and provided support in navigating their financial challenges. The main findings of the study highlighted the evolving landscape of smart financial strategies for aging adults, emphasizing the importance of long-term planning, technology adoption, healthcare cost considerations, diversified investments, Social Security optimization, awareness of economic trends, financial education, and the role of supportive networks in achieving a secure and fulfilling retirement

UNDERSTANDING ENTREPRENEURIAL ECOSYSTEM IN THE MIDDLE EAST: INSIGHTS FROM ISENBERG'S MODEL

2024-02-05T09:27:00+01:00

This study seeks to understand the entrepreneurial ecosystem in the Kurdistan Region of Iraq (KRI) by applying Isenberg's model. Focused on six fundamental domains-policy, finance, culture, support, human capital, and markets-it aims to underscore their indispensability for genuine entrepreneurial ecosystem development. Employing Isenberg's model, this research conducts a descriptive exploration of the relationships between entrepreneurship and the identified domains. Utilizing a literature review approach, secondary sources such as academic papers, news articles, and relevant literature have been scrutinized, elucidating the intricate connections shaping entrepreneurial activity in KRI. The study reveals the close connection and influence of the six identified domains on entrepreneurial activity in KRI. However, it highlights the need for further research to determine the extent of this impact, suggesting potential gaps in current understanding. Identified obstacles to entrepreneurial growth in KRI, including insufficient government support, limited funding, and cultural barriers, necessitate targeted interventions. Recommendations encompass policy reforms, financial support amplification, cultural awareness initiatives, investment in support institutions, educational enhancements, and the creation of a conducive business environment. Implementing these recommendations is imperative for unlocking KRI's entrepreneurial potential, fostering economic growth, and catalyzing job creation and economic diversification. This research contributes to the existing literature by highlighting the pivotal role of collaborative efforts and role clarity among stakeholders in effective entrepreneurial ecosystem development, particularly in KRI. Recognizing the lack of alignment and coordination as potential contributors to challenges faced, the study sheds light on critical aspects that may impede or enhance entrepreneurial ecosystem success in the region.

DETERMINANTS OF IMMIGRANT ENTREPRENEURS’ BUSINESS SURVIVAL: SECURITY AND BUSINESS SKILLS IMPERATIVES

2024-03-24T12:58:00+01:00

This study sought to determine the major drivers of immigrant business survival in OR Tambo District Municipality in South Africa. While the study adopted Aldrich and Waldinger’s Interactive Theory, the positivist (quantitative) research approach was used to determine how relevant data were collected and analysed. A sample of 100 immigrant entrepreneurs was selected through a convenient random sampling technique. Correspondingly, a survey instrument was used to collect the required data from the sample, while descriptive statistics, correlation, principal component analysis, factorial ANOVA, and regression tools were applied to analyze the data and generate results. This study found the use of burglary bars for security, understanding what people need, satisfying the customers’ needs, and accumulation and use of personal savings as the major strategies being used amongst immigrant entrepreneurs in keeping their businesses afloat. Besides, demographic and locational attributes such as the high educational status of the business owner, being single in South Africa, having longer years of trade in the country, trading in the urban area, and being of East African origin are positively associated with business survival in the study area. Surprisingly, the study did not support the conventional assumption that staying longer in an area may translate to business survival. The major implication of this study borders on implementing relevant policies and practices to transfer these business survival skills across (Small Micro and Medium Enterprises (SMME) operators, especially the local entrepreneurs in the country, to enhance their resilience and survival. This study contributes to the body of knowledge and literature regarding relevant issues related to SMME start-ups in South Africa. It also provides policy-appropriate variables for short and medium-term intervention designs in the development and sustainability of the SMME industry in the country.

SUSTAINABLE SOLOPRENEURSHIP PRACTICES: THE ROLE OF GENDER

2024-04-11T12:39:15+02:00

Sustainability practices have grown to an increasing significance for entrepreneurial success, reflecting the true commitment to environmental stewardship, social responsibility, and economic viability. While sustainability and gender in entrepreneurship have been approached as independent studies, the point of confluence of both gender and sustainable solopreneurship practices has not been the focus of much research. The aim of the research was to comprehensively examine sustainable solopreneurship practices, focusing on the significant role of gender dynamics. The purposive sampling method was adopted to select 10 solopreneurs and investigate their experiences. This study used a phenomenological research design, and the data collection method includes semi-structured interviews, allowing the participants to explain in detail their motives, challenges, and strategies for practicing sustainability. The identification of the patterns and variations was conducted through thematic analyses to ensure the legitimacy of the rigor and credibility. The study found that the challenges are family expectations and gender stereotyping, while the opportunities are profitability and adaptability to market changes. Strategies that emerged for financial resilience included savings and cost efficiency through bulk purchases and energy conservation. The study has enormous implications for the design of tailored support to aid males in female-dominated businesses, access to capital and resources for them, and suggests the need for financial literacy programs and policy initiatives on sustainability practices. These provide the way forward for the above-addressed challenges in creating an enabling environment for sustainable solopreneurship.