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PURPOSE: The aim of the paper is to identify and discuss many trade-offs which have to be made by public authorities while designing and implementing state aid measures for entrepreneurs affected by the Covid-19 pandemic., DESIGN/METHODOLOGY/APPROACH: Based on the case study - the project “Grant for working capital for micro and small enterprises from the Wielkopolska Region” four interrelated lines of inquiry are pursued concerning: the grant selection process, timelines of support, administrative burden imposed on applicant entrepreneurs and the appropriateness of the amount of aid granted. Specific problems are discussed in a broader perspective of public support programmes design., FINDINGS: Timelines of support and simplicity of the rules of granting aid are imperative in designing the public support delivery for entrepreneurs affected by the Covid-19 pandemic. However, one should not lose sight from other important aspects of allocating limited public funds, as it is usually a matter of striking the right balance by public policymakers between competing objectives in an attempt to ensure effective and fair allocation of limited resources., PRACTICAL IMPLICATIONS: State aid that involves granting a selective economic advantage to undertakings imply the question about the allocation method of funds. Given the risk of liquidity shortage for SMEs that makes fast delivery of aid crucial for the aid to achieve its objective, providing public support on the basis ‘first-come, first served’ principle can be a justifiable rationing device. However, this holds true under certain conditions: all applicants must be in relevantly similar circumstances and have equal prospects to receive a benefit. As these are not fully met in the case under investigation, some recommendations are formulated for future interventions., ORIGINALITY/VALUE: Public debate on SME policy responses in times of Covid-19 crisis is often limited to numbers: how many entrepreneurs benefited from the public support and what is the aggregate value of the aid. The uniqueness of the conducted research lies in “looking under the surface” in the quest for ensuring effectiveness of state aid measures in the context of COVID-19., peer-reviewed

PURPOSE: Defining the concept of safe business by identifying the risks of SME business in a pandemic environment., DESIGN/METHODOLOGY/APPROACH: The research was based on a deductive approach and was conducted in the first months of the pandemic in 2020 in the Lower Silesia. The research technique used GOOGLE electronic survey questionnaire and the collected data was statistically processed (SPSS). The study used sample, which allowed to select a set of population elements and determine the representativeness and reliability of the research sample. The thesis and hypothesis presented were verified based on the data collected in the quantitative study. The specificity of the distributions of the variables was established. Nonparametric tests were used to analyze the data. Correlations between variables were tested using Spearman's test., FINDINGS: The conclusions of the study confirmed the mutual correlation between the "new" pandemic risk and the other "old" risk classes . This may indicate the impact of a rare "nuclear swan" phenomenon, the effects of which have not been and are not yet described in the literature., PRACTICAL IMPLICATIONS: The analysis of the results obtained in the study is partially consistent with the literature studies on the impact of the environment and the risks associated with it on micro and small enterprises conducted before the pandemic. Nevertheless, the assumptions made at the stage of selecting the research sample, allow to formulate a thesis about the broader universality of the confirmed regularities, which should be confirmed in extended research. Which is an important contribution to further discussion., ORIGINALITY/VALUE: The paper describes the diagnosed competence gap in the area of SME enterprise management in the current economic conditions of the pandemic. Which is an extremely complicated task due to the lack of precedents giving guidance to enterprises resulting from history and literature on the subject. In view of this, the identification of risk and definition of the concept of safe business in such unusual conditions, which are at the same time adequate to the dynamically changing environment under pandemic conditions, is a desirable goal to achieve in scientific and practical aspects., peer-reviewed

PURPOSE: The main purpose of the article was to assess the impact of the COVID-19 pandemic on the financial situation of micro and small enterprises in the construction and development industry in Poland., DESIGN/METHODOLOGY/APPROACH: The research was conducted in February 2021 by means of a survey on a group of 100 randomly selected, representative samples of micro and small entrepreneurs from the construction and development industry in Poland. The survey questionnaire was developed in the form of 15 record and substantive single or multiple choice questions. Another method that was used for the research was the review and analysis of bibliographic resources., FINDINGS: The conducted research shows that as a result of the COVID-19 pandemic, the economic and financial situation of micro and small enterprises in Poland has deteriorated. However, this was not only due to a reduction in demand. A large part of the problems resulted from the disruption of material logistics chains, which contributed to problems with access to professional equipment (fixed assets) and financial chains, which was reflected in the growing concerns of entrepreneurs about the timely inflow of receivables from recipients., PRACTICAL IMPLICATIONS: The pandemic, affecting almost all economic entities, destabilizes their functioning and raises concerns about the future. Support in a more difficult situation granted to entrepreneurs by the government may significantly burden the state budget, and the resignation from investments may hinder economic growth. A significant drop in demand for construction services and concerns about an increase in the prices of materials and wages and salaries may lead to a price fight between entities. Due to the difficulty in predicting the long-term effects of the pandemic, it seems necessary to apply for economic protection outside traditional crisis management systems., ORIGINALITY/VALUE: With the use of an original, authors' survey conducted on a representative research sample, current issues were raised, concerning not only Poland, but also the whole world., peer-reviewed

Purpose: The goal of the study is to analyze model of government financing for small and medium-sized enterprises (SMEs) in Switzerland in order to apply its advanced experience to improve the system of federal financial support for SMEs in Russia. Design/Methodology/Approach: Brewer and Hunter’s approach was used to carry out an analysis of state financial support. Findings: The findings suggest that the modern system of government financial support for SMEs in Switzerland is flexible and capable of effectively resisting financial crises and changes in global market conditions. Switzerland has one of the most powerful and secure banking systems in the world and modern scientific and educational capabilities based on its world famous universities. These conditions are self-sufficient in the innovative development of the economy, focusing on their own financial resources and the national scientific and educational environment. Practical Implications: The experience of Switzerland can be applied in Russia to develop effective mechanisms for integrating academic and university sciences with public and private commercial industrial partners in order to accelerate the commercialization of scientific research. Such government policy instruments will make it possible to increase the level of state interaction in the sphere of education and science with the business sector, resolve the shortage of qualified specialists and accelerate the process of commercialization of research and development (R&D). Originality/Value: The advanced approaches of the Swiss model of public financing for the SME sector can be applied in developing countries, especially in those with limited mineral and labor resources, and in implementing strategies to boost the ratio of SMEs in the economy and their contribution to it., peer-reviewed

Purpose: This study focused on the usefulness of management accounting information to small-medium-sized service enterprises other than manufacturing business. The size and industry classification are important proxies among firms to have market concentration. Design/Methodology/Approach: Median, Spearman Rho, Mann-Whitney U Test, KruskalWallis, and post Hoc test were used to analyzed the relationship of variables and test of difference between and among the service activities based on the data surveyed from 180 respondents. Findings: The evidence suggests that statement of cash flow analysis, capital budgeting decisions, financial budgets, and managing customers’ relationship are the very useful management accounting tools enough to response for their urgent needs to operate and grow. There is always non-uniformity of accounting techniques because of the industry classification, enterprise size, the nature of their operation, different managers interpretations placed on particular tool and the knowledge and skills in adopting accounting methods make comparison difficult. Therefore, the choices are associated on the particular problem at hand and the potential problems in the future. Practical Implications: To provide for more valuable representation about the usefulness of management accounting information this time across SMEs service activities. This is because previous research findings has focused more on large and private industries and the current research investigated mostly on small-medium-sized manufacturing activities. Originality/Value: Surveyed accommodation and food service activities, financial and insurance activities, and professional, scientific and technical activities in the research design to give importance and be certain to evaluate the level of its usefulness, test the relationship of net income and capital on the level of usefulness of MATs used, test the difference of the level of usefulness between and across SMEs and identify the problems encountered in the application of management accounting tools used as techniques across service business type of activities., peer-reviewed

Purpose: The objective of this research paper is to conceptualize the model in examining the moderating effect of awareness on attitude, knowledge, and customers’ acceptance of Islamic micro finance in Kano State, North Western-Nigeria. As, Islamic micro financial institutions deliver loans to small and medium enterprises (SMEs). Since, it serves as a means of curving of some social vices such as poverty, ethno-religious crises, farmers and herdsmen crises, cattle rustling, arm rubbers and kidnappers among others. Despite it great contributions to the growth of the economy there is deprived awareness on Islamic micro finance which leads to inadequate investment and patronage by the people in Kano State. Investors and the general public can use this research for guidance towards investments of their capital into Islamic micro finance for maximum profits. Also, stake holders, SMEs, traders and farmers can utilize the outcome of this study. Similarly, stock exchange commission, Central Bank of Nigeria and other financial institutions can use the results of this study towards making policies and strategies. -- Design/methodology/approach: Questionnaire was used and data was collected by random sample of 400 selected Islamic micro finance customers in Kano state, Nigeria. PLSSEM was used in analysing and testing the formulated hypotheses. -- Findings: Result indicated that knowledge and attitude have positive and significant relationship on acceptance of Islamic micro finance, while, awareness did not moderate relationship between attitudes but moderates knowledge and acceptance of Islamic micro finance., peer-reviewed

Aim of the Study: The main objective of our research, for the solutions of management, finance and accounting issues and auditing problems of SMEs is to reveal the benefits of independent audit. Methodology of the Study: Administrative, financial, and accounting problems of SMEs will be explained and the role of independent audit in solving these problems will be presented. Findings of the Study: We assume that the findings of this study will contribute towards the enhancement of good corporate governance that alleviates agency problems in business organizations. Importance of the Study: The enterprises have been becoming international along with the rapid transformation in the world trade in recent years. It is now mandatory to develop a common language in the field of accounting and auditing for the reason that enterprises are operating in different countries. At the end of this process, it has been implemented a worldwide uniformity with “International Accounting Standards" and "International auditing standards". The relevant changes were made in independent auditing for SMEs under certain criteria in order to adapt uniformity with new Turkish commercial code in our country. Independent audit as a result of economic change will become unavoidably compulsory for SMEs, which are over a certain scale, beyond that, the independent audit for the SMEs will be made on a voluntary basis in the interests their own in the future. We assume that the findings of this study will contribute towards the enhancement of good corporate governance that alleviates agency problems in business organizations. The findings have several implications regarding board members, managers, and organizations. Establishing corporate governance mechanisms and resolving agency issues are among the boards’ primary responsibilities., Calismanin Amaci: Arastirmamizin temel amaci KOBI'lerin karsilastigi yonetim, finans ve muhasebe sorunlarinin cozumunde bagimsiz denetimin KOBI'lere sagladigi faydalarin ortaya konulmasidir. Calismanin Metodolojisi: Kobilerde yonetim, finans ve muhasebe sorunlari aciklanip bu sorunlarin cozumunde bagimsiz denetimin rolu ortaya konulacaktir Calismanin Bulgulari: Bu calismada, ticari organizasyonlardaki yonetsel sorunlari azaltarak kurumsal yonetimin gelistirilmesine katki saglamasini amaclanmaktadir. Calismanin Onemi: Son yillarda dunya ticari hayatindaki hizli degisim ile birlikte isletmeler artik uluslararasi hale gelmektedir. Isletmelerin cok farkli ulkelerde faaliyet gostermesi, muhasebe ve denetim alaninda ortak bir dilin gelismesini zorunlu hale getirmistir. Bu surecin sonunda "Uluslararasi Muhasebe Standartlari"(UMS) ve "Uluslararasi Denetim standartlari"(UDS) ile dunya olceginde bir tekduzelik hayata gecirilmistir. Ulkemizde Yeni Turk Ticaret Kanun'u (TTK) ile bu tekduzelige ayak uydurma noktasinda Kucuk ve Orta Olcekli Isletmeler (KOBI) icin belirli kriterler cercevesinde bagimsiz denetim ile ilgili duzenlemeler yapilmistir. Ekonomik degisimin bir sonucu olarak bagimsiz denetim ister istemez belirli olcegin uzerinde olan KOBI'ler icin zorunlu hale gelecek, bunun da otesinde KOBI'ler ilerleyen donemlerde bagimsiz denetimi cikarlari dogrultusunda gonullu olarak yapacaklardir. Arastirmamizin temel amaci KOBI'lerin karsilastigi yonetim, finans, muhasebe ve denetim sorunlarinin cozumunde bagimsiz denetimin KOBI'lere sagladigi faydalarin ortaya konulmasini icermektedir. Bu calismanin bulgulari ile, ticari organizasyonlardaki yonetsel sorunlarin azalarak kurumsal yonetimin gelismesine katki saglamasi amaclanmaktadir. Ortaya konan bulgularin yonetim kurulu uyeleri, yoneticiler ve isletme ile ilgili cesitli etkileri vardir. Kurumsal yonetim mekanizmalarinin olusturulmasi ve sorunlarinin cozulmesi kurullarin oncelikli sorumluluklari arasindadir., peer-reviewed

The project as action in the 21st century is one of the strongest calls. Without a project, no company can be imagined. Growth is the fundamental interest of every organisation and the most obvious way to do this is to start successful projects that also end successfully. Projects allow for corporate value growth and qualitative progress in time. Larger companies are at the forefront of project management, following best practices that can be copied by the SME sector. Many tools and literature are available for project management but success, in many cases, does not depend on the methodology. In order for a project to be truly successful, one should always pay attention to the evolution of the three baselines from initiation to closure. However, the cost of the three baselines is the most important: from where and to what extent the project can be financed. The aim of this study is to present the financing practices of the Hungarian SME project based on the results of a research, highlighting the most favoured and rejected sources based on the opinion of the responding companies., peer-reviewed