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Author: Marc P. Philipp
Publisher: diplom.de
ISBN: 3832481648
Category : Business & Economics
Languages : en
Pages : 75
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Book Description
Inhaltsangabe:Abstract: During the last decades, small and medium-sized enterprises (SMEs) have been one of the major driving forces of worldwide economic growth, employment and prosperity. Moreover, they are considered to be of high importance in ensuring a friction-free adaptation to economical, technological, and social changes. Especially European economies, foremost Germany being the third largest economy in the world, highly depend on this class of companies as important contributors to the increase of living standards, productivity and competitiveness. As Hommel & Schneider (2003) conclude, any structural problem affecting this mass of economic 'backbone' businesses is thus likely to cause macroeconomic frictions to an economy as a whole Vice versa, it seems reasonable to argue that negative macro-level economic performance can be easily caused by an underperforming SME sector. A glance at the current business environment gives evidence that SMEs are navigating in a dramatic time of economic turmoil: Corporate bankruptcy in Germany e.g. has more than doubled during the last 10 years to a record level of almost 40,000 filed cases in 2003. Bankruptcy rates (i.e. 'Insolvenzquote') have raised to a peak in 2001 since the 1980's - a level, which has not been touched even in times of economic downturn within the last 15 years. The near future of many European SMEs is embossed by big threats and opportunities triggered by the upcoming EU member extension in May 2004, which will provide easy market access to SMEs from 10 East European, Baltic, and Mediterranean countries. As more than 35% of all German SMEs are not engaged outside Germany, the opportunity of gaining access to new sales markets could easily be dominated by impending competition threats an the price dimension in German regional markets. One might think that with respect to economic theory business failure is a problem that may not exist (or may be overrated) , as a certain level of failure would be expected in a competitive environment, due to mechanisms of resource allocation and the replacement of inefficient firms. However, such a large scale of corporate bankruptcies causes dramatic costs to an economy, as not all liabilities can be paid back by an insolvent firm. Moreover, indirect economic losses can occur, e.g. due to the destruction of established stakeholder relationships, and temporary vacuums in certain markets. Business failure thus is a central issue not only in [...]
Author: Marc P. Philipp
Publisher: diplom.de
ISBN: 3832481648
Category : Business & Economics
Languages : en
Pages : 75
Get Book Here
Book Description
Inhaltsangabe:Abstract: During the last decades, small and medium-sized enterprises (SMEs) have been one of the major driving forces of worldwide economic growth, employment and prosperity. Moreover, they are considered to be of high importance in ensuring a friction-free adaptation to economical, technological, and social changes. Especially European economies, foremost Germany being the third largest economy in the world, highly depend on this class of companies as important contributors to the increase of living standards, productivity and competitiveness. As Hommel & Schneider (2003) conclude, any structural problem affecting this mass of economic 'backbone' businesses is thus likely to cause macroeconomic frictions to an economy as a whole Vice versa, it seems reasonable to argue that negative macro-level economic performance can be easily caused by an underperforming SME sector. A glance at the current business environment gives evidence that SMEs are navigating in a dramatic time of economic turmoil: Corporate bankruptcy in Germany e.g. has more than doubled during the last 10 years to a record level of almost 40,000 filed cases in 2003. Bankruptcy rates (i.e. 'Insolvenzquote') have raised to a peak in 2001 since the 1980's - a level, which has not been touched even in times of economic downturn within the last 15 years. The near future of many European SMEs is embossed by big threats and opportunities triggered by the upcoming EU member extension in May 2004, which will provide easy market access to SMEs from 10 East European, Baltic, and Mediterranean countries. As more than 35% of all German SMEs are not engaged outside Germany, the opportunity of gaining access to new sales markets could easily be dominated by impending competition threats an the price dimension in German regional markets. One might think that with respect to economic theory business failure is a problem that may not exist (or may be overrated) , as a certain level of failure would be expected in a competitive environment, due to mechanisms of resource allocation and the replacement of inefficient firms. However, such a large scale of corporate bankruptcies causes dramatic costs to an economy, as not all liabilities can be paid back by an insolvent firm. Moreover, indirect economic losses can occur, e.g. due to the destruction of established stakeholder relationships, and temporary vacuums in certain markets. Business failure thus is a central issue not only in [...]
Author: Tom Eisenmann
Publisher: Currency
ISBN: 0593137027
Category : Business & Economics
Languages : en
Pages : 370
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Book Description
If you want your startup to succeed, you need to understand why startups fail. “Whether you’re a first-time founder or looking to bring innovation into a corporate environment, Why Startups Fail is essential reading.”—Eric Ries, founder and CEO, LTSE, and New York Times bestselling author of The Lean Startup and The Startup Way Why do startups fail? That question caught Harvard Business School professor Tom Eisenmann by surprise when he realized he couldn’t answer it. So he launched a multiyear research project to find out. In Why Startups Fail, Eisenmann reveals his findings: six distinct patterns that account for the vast majority of startup failures. • Bad Bedfellows. Startup success is thought to rest largely on the founder’s talents and instincts. But the wrong team, investors, or partners can sink a venture just as quickly. • False Starts. In following the oft-cited advice to “fail fast” and to “launch before you’re ready,” founders risk wasting time and capital on the wrong solutions. • False Promises. Success with early adopters can be misleading and give founders unwarranted confidence to expand. • Speed Traps. Despite the pressure to “get big fast,” hypergrowth can spell disaster for even the most promising ventures. • Help Wanted. Rapidly scaling startups need lots of capital and talent, but they can make mistakes that leave them suddenly in short supply of both. • Cascading Miracles. Silicon Valley exhorts entrepreneurs to dream big. But the bigger the vision, the more things that can go wrong. Drawing on fascinating stories of ventures that failed to fulfill their early promise—from a home-furnishings retailer to a concierge dog-walking service, from a dating app to the inventor of a sophisticated social robot, from a fashion brand to a startup deploying a vast network of charging stations for electric vehicles—Eisenmann offers frameworks for detecting when a venture is vulnerable to these patterns, along with a wealth of strategies and tactics for avoiding them. A must-read for founders at any stage of their entrepreneurial journey, Why Startups Fail is not merely a guide to preventing failure but also a roadmap charting the path to startup success.
Author: Pierre-Olivier Gourinchas
Publisher:
ISBN:
Category : Business enterprises
Languages : en
Pages : 54
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Book Description
Abstract: We estimate the impact of the COVID-19 crisis on business failures among small and medium size enterprises (SMEs) in seventeen countries using a large representative firm-level database. We use a simple model of firm cost-minimization and measure each firm's liquidity shortfall during and after COVID-19. Our framework allows for a rich combination of sectoral and aggregate supply, productivity, and demand shocks. We estimate a large increase in the failure rate of SMEs under COVID-19 of nearly 9 percentage points, absent government support. Accommodation & Food Services, Arts, Entertainment & Recreation, Education, and Other Services are among the most affected sectors. The jobs at risk due to COVID-19 related SME business failures represent 3.1 percent of private sector employment. Despite the large impact on business failures and employment, we estimate only moderate effects on the financial sector: the share of Non Performing Loans on bank balance sheets would increase by up to 11 percentage points, representing 0.3 percent of banks' assets and resulting in a 0.75 percentage point decline in the common equity Tier-1 capital ratio. We evaluate the cost and effectiveness of various policy interventions. The fiscal cost of an intervention that narrowly targets at risk firms can be modest (0.54% of GDP). However, at a similar level of effectiveness, non-targeted subsidies can be substantially more expensive (1.82% of GDP). Our results have important implications for the severity of the COVID-19 recession, the design of policies, and the speed of the recovery
Author: Paul Vandenberg
Publisher:
ISBN: 9784899740674
Category : Business & Economics
Languages : en
Pages : 0
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Book Description
A vibrant stratum of small and medium-sized enterprises (SMEs) is critical for the growth and development of Asian economies. These enterprises generate employment, contribute to investment, participate in value chains, and support innovation. SMEs that seek to sustain and grow their operations, however, face a variety of constraints, many of which are directly related to size. These so-called "size-induced market failures" create a role for public policy interventions by governments throughout the region. This book focuses on the market failures encountered by enterprises in the key areas of technology and innovation, credit and finance, education and skills, and market access. Obstacles to participation in the rapidly expanding regional and global value chains are also examined. Among a variety of issues, the book explores the "missing middle" in credit facilities for enterprises that are beyond microcredit but not yet able to secure regular loans from banks. The book investigates the barriers to innovation and how best to combine internal and external research and development. It also looks at the hiring versus training options to build human capital. The various chapter authors examine national and multicountry experiences in South and East Asia, ranging from those in Pakistan to Japan.
Author: Leszek Gracz
Publisher: Anthem Press
ISBN: 1783087358
Category : Business & Economics
Languages : en
Pages : 110
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Book Description
There is a clear economic and social rationale in providing a second chance to failed entrepreneurs and deriving positive experiences from negative situations. Value of Failure is a comprehensive attempt at understanding the various aspects of the phenomenon of business failure. The book covers various aspects of second-chance entrepreneurs (and economic failure in general) and opportunities for changing general perception toward the phenomenon. It enables readers to understand business failure from the perspective of institutional theory; economic failure in the process of small business growth in the context of the shadow economy; Schumpeter’s theory of ‘creative destruction’ and the fear of failure; sustainable economic growth and development; and system approach to failures and their impact on the enterprise operation.
Author: United States. Congress. Senate. Committee on Small Business
Publisher:
ISBN:
Category : Bankruptcy
Languages : en
Pages : 48
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Book Description
Author: David Feinleib
Publisher: Apress
ISBN: 1430241411
Category : Business & Economics
Languages : en
Pages : 185
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Book Description
For the want-to-be entrepreneur thinking about taking the leap, the boot-strapped entrepreneur trying to energize a business three or four years in, and the venture-backed entrepreneur trying to scale, Why Startups Fail shows you the key mistakes new ventures make—and how to avoid them. Nearly everyone has an idea for a product they could build or a company they could start. But eight out of 10 new businesses fail within the first three years. Even only one in ten venture-backed startups succeeds, and venture capitalists turn down some 99% of the business plans they see. The odds appear to be stacked against you! But entrepreneurs often make the same avoidable mistakes over and over. Why Startups Fail can help you beat the odds and avoid the pitfalls and traps that lead to early startup death. It’s easy to point to successes like Apple, Google, and Facebook. But the biggest lessons can come from failure. What decisions were made, and why? What would the founders have done differently? How did one company become a billion-dollar success while another—with a better product and in the same market—fail? Drawing on personal experience as well as the wisdom of the Silicon Valley startup community, serial entrepreneur, venture capitalist, and blogger Dave Feinleib analyzes companies that have come and gone. In short, powerful chapters, he reveals the keys to successful entrepreneurship: Excellent product/market fit, passion, superb execution, the ability to pivot, stellar team, good funding, and wise spending. In Why Startups Fail, you’ll learn from the mistakes Feinleib has seen made over and over and find out how to position your startup for success. Why Startups Fail: Shows venture-backed startups and boot-strappers alike how to succeed where others fail. Is equally valuable for companies still on the drawing board as well as young firms taking their first steps. Takes you through the key decisions and pitfalls that caused startups to fail and what you can learn from their failures. Covers the critical elements of entrepreneurial success.
Author: John Watson
Publisher: Edward Elgar Publishing
ISBN: 1849805644
Category : Business & Economics
Languages : en
Pages : 167
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Book Description
Watson addresses some of the most pervasive myths related to small business performance in an engaging manner, capturing the nuances of these important issues. His review of the definitions of business failure and study of the differences those definitions make for research outcomes is particularly striking and useful for policy makers, researchers, and educators. This book helps us think more deeply about the variety of motivations, approaches, and outcomes that make up the world of small business. Patricia Greene, Babson College, US John Watson is my type of researcher. His scholarly career has been devoted to finding out what actually happens to small businesses, based on looking in detail at their performance and the factors influencing their performance. This frequently means that sacred cows have been sent to abattoir. The most notable of these is that most small business closures are failures . They are not, and Watson makes this point with clarity. This book further develops this insight. It then moves on to derive a better understanding of important policy issues such as the extent and relevance of financial constraints in small firms, and the role that governments might play in relaxing such constraints. Policy makers take note. David Storey, University of Sussex, UK The performance of Small and Medium-sized Enterprises (SMEs) has been a subject of continual interest to both researchers and practitioners. This enlightening book investigates the pitfalls which have affected the assessment of SME performance in much of the past research. In this book, John Watson dispels a number of myths that have become part of the SME landscape including that SMEs suffer from excessively high failure rates; that female-owned SMEs under-perform male-owned SMEs; and that SME growth (particularly for female-controlled SMEs) is severely limited by a lack of external funding. Making extensive use of both cross-sectional and longitudinal data, this book will appeal to research students interested in entrepreneurship and SMEs, teachers of entrepreneurship courses and policymakers. Advisors to the SME sector will also find that the material presented provides them with a good background understanding of performance in this sector.
Author: Tom Pease
Publisher: Morgan James Publishing
ISBN: 1600376711
Category : Business & Economics
Languages : en
Pages : 189
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Book Description
Bad business design is plentiful in small businesses. In it can lie an entrepreneur's demise. Amidst the considerable emotion that burbles within every business owner lies formidable powers for good or bad. Business owners need to make sure their mountain moving passions are headed to end zones and not danger zones. Going Out of Business By Design can serve as owners' reference manual to keep them for becoming a failure statistic. Book jacket.
Author: United States. Congress. House. Committee on Government Operations. Commerce, Consumer, and Monetary Affairs Subcommittee
Publisher:
ISBN:
Category : Federal aid to minority business enterprises
Languages : en
Pages : 828
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Book Description
