Small Business International Review <p><i class="ai ai-open-access ai-4x ai-fw ai-pull-left" style="color:#f6830a"></i><strong>Small Business International Review (e-ISSN 2531-0046)</strong> is a peer-reviewed e-journal devoted to the publication of original research articles concerning the broad field of SMEs. It provides <strong>Fully Open Access</strong> to its content on the principle that making research freely available to the public supports a greater global exchange of knowledge.<strong> Authors are not asked to pay Article Processing Charges (APCs) for this journal in any case</strong>. The journal offers a permanent open call for papers. The articles can be sent using the platform of the journal or can be sent by attaching the document to the address <a href=""></a> indicating in the subject: '[SBIR] Article sent'. To submit your manuscript through the platform <a href="/index.php/sbir/login">click here</a>.</p> <p>The editors are pleased to announce that the publishing model of the journal has changed. Rather than publishing conventional complete online issues at fixed intervals, the journal has moved to a <strong>continuous publication (CP) model</strong>. The central aspect of the new publishing model is that articles will be published online in their final formats (PDF and XML-JATS), with their final citation details, as soon as they have been accepted and proofread. As a result, the waiting time between submission and final publication is considerably reduced, and the article will be assigned a permanent DOI as well <a href="/index.php/sbir/about#continuouspublication">(more information)</a>. Small Business International Review averages 18-20 weeks from manuscript submission to publication with a rejection rate of 73.4%.</p> Spanish Accounting and Business Administration Association (AECA) and Universidad Politécnica de Cartagena (UPCT) en-US Small Business International Review 2531-0046 <p id="copyrightNotice">Authors who publish with this journal agree to the following terms:</p> <ol> <li class="show">Authors retain copyright and grant the journal right of first publication with the work simultaneously licensed under a <a title="Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License (CC BY-NC-SA 4.0)" href="" target="_blank" rel="noopener">Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License (CC BY-NC-SA 4.0)</a> that allows others an non-exclusive licence to share the work with an acknowledgement of the work's authorship and initial publication in this journal, commercial uses are not permitted and, if you remix, transform, or build upon the material, you must distribute your contributions under the same license as the original.</li> <li class="show">Authors are able to enter into separate, additional contractual arrangements for the <span style="text-decoration: underline;">non-exclusive distribution</span> of the journal's published version of the work, duly noting the <em> <em>Small Business International Review</em> </em> as original source of material, including the authorship, the year of publication, number of issue, and the pages or elocation-id on which the information appears, as well as the link to the Journal’s web page using its assigned DOI link.</li> <li class="show">Authors are permitted and encouraged to post their work online (on their institutional repositories or their website) for the submitted and accepted versions , provided acknowledgement of submission or acceptance, as it can lead to productive exchanges, as well as earlier and greater citation of published work.</li> <li class="show">Explanatory note about the change of the <strong>Creative Commons License</strong>: <strong>Small Business International Review</strong> published its first two issues under a <a href="" rel="license">Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License (CC BY-NC-ND 4.0)</a>. But the editors after the knowledge of the <a title="DECLARATION OF MEXICO in favor of the Latin American Non-Commercial Open Access Ecosystem" href="" target="_blank" rel="noopener">DECLARATION OF MEXICO in favor of the Latin American Non-Commercial Open Access Ecosystem</a>&nbsp;have decided to publish from that moment through a <a title="Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License (CC BY-NC-SA 4.0)" href="" target="_blank" rel="noopener">Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License (CC BY-NC-SA 4.0)</a> as a result of it the Vol. 2, Num. 2 (2018) is under this new version of licence as well as all new issues from now.</li> </ol> Utilization of non-financial business support services to aid development of Micro, Small and Medium Enterprises (MSMEs) in Tanzania A variety of factors inhibit the development of MSMEs in African countries, which in turn affects entrepreneurship, job creation and economic transformation. Using cross-sectional data from 250 MSMEs in the Dar es Salaam region, we find in most of the examined variables the positive relationship between the use of non-financial business support services (BDS) and the development of MSMEs in the Dar es Salaam region. However, contrary to expectations, building business linkages and mentoring programs recorded negative relationships with MSMEs development. This is related to restricted capacities stemming from the size of MSMEs compared to large companies and deficiencies in the content of mentoring programs. In addition, the discrepancy between BDS demand and supply as well as the low adoption rate of BDS are associated with the inadequate adaptation of BDS to the needs of MSMEs, high service costs and a lack of qualified service providers. Thus, we argue that the provision of BDS to MSMEs should be demand-driven and that institutions should build on the pre-eminent characteristics of MSMEs when designing business support programs. On the other hand, Government efforts to nurture the development of MSMEs through policies and programs should extend to promoting business linkages between MSMEs and large enterprises. Francis Lwesya Adam Beni Swebe Mwakalobo Justine Mbukwa Copyright (c) 2021 Francis Lwesya, Adam Beni Swebe Mwakalobo, Justine Mbukwa 2021-07-26 2021-07-26 5 2 e358 e358 10.26784/sbir.v5i2.358 Delimitation of the experience factor in the decision to select international markets by Spanish SMEs: The influence of psychic distance The internationalization of SMEs is generally characterized by a progressive multi-stage process, in which organizations gradually acquire knowledge and skills that strengthen their commitment to the outside world. International experience – a form of autonomous accumulation of know-how that allows the understanding of potential markets – influences the decision-making process for selecting export markets. Although gradual acquisition of international experience allows an increase in export activity in more physically distant markets, this gradualist postulate does not have an indefinite validity. This paper analyzes the limits of this international experience in terms of psychic distance, examining whether those SMEs that have obtained enough international experience to develop markets of greater complexity tend to select more complex, i.e., more psychically distant, countries. The findings generally support the idea that the relationship between international experience and psychically distant markets ceases when SMEs have obtained enough international experience, after which it is the objectives of a strictly business nature which condition the decision to select potential markets. For these reasons, when the organization has obtained enough skills and international experience to develop markets of greater complexity, the managers choose to select more complex i.e., more psychically distant, countries. Pedro María Martínez Villar Copyright (c) 2021 Pedro María Martínez Villar 2021-07-26 2021-07-26 5 2 e368 e368 10.26784/sbir.v5i2.368 Firm characteristics and credit constraints among SMEs in the Philippines Access to finance is critical to support the growth of small and medium-sized enterprises (SMEs). However, lack of access to adequate financing is one of the biggest obstacles that SMEs face. This paper analyzed the relationship between firm characteristics and credit constraints among SMEs in the Philippines. We determined which firm characteristics are correlated to the predicted probability of being credit-constrained or “quasi-constrained” — i.e., able to borrow from informal sources. Estimates of marginal effects at the means (MEMs) from logistic regressions provide some suggestive evidence that increased firm size, previous purchase of fixed assets, and increased use of digital technologies for accounting and financial management are associated with a lower predicted probability of being credit-constrained. The use of digital technologies in accounting and financial management is also associated with a lower probability of credit constraint in informal financial markets. John Paul Flaminiano Jamil Paolo Francisco Copyright (c) 2021 John Paul Flaminiano, Jamil Paolo Francisco 2021-05-31 2021-05-31 5 2 e332 e332 10.26784/sbir.v5i1.332 SMEs’ competitiveness and international trade in the era of Global Value Chains (GVCs) in Tanzania: An assessment and future challenges International trade continues to play a crucial role in economic transformation in African countries. The rise of Global Value Chains (GVCs) presents opportunities through which international trade can be effectively conducted. GVCs facilitate organization of trade, international production and investment by locating different stages of production process across varied countries. This presents opportunities to integrate Small and Medium Enterprises (SMEs) into global trading systems but also may generate challenges particularly to resource constrained SMEs. Reviewing the challenges for the participation in international trade and possible integration into GVCs by Tanzania’s SMEs, the results show that the major challenges for SMEs internationalization are international marketing related constraints and global competition (69%), supply side constraints (56%), unfriendly investment climate (50%) and financial constraints (37.5%). As such, the role of trade policies remains critical in mitigating some of these challenges through formulating friendly legal and regulatory frameworks, enhancing SMEs productivity by building their managerial and technical capacities, minimizing trade costs, and increasing trade openness. However, given the current global, regional and domestic developments in Tanzania, trade policies need review so as to respond to the changing global trade landscape but also promote policy harmony, coherence and complementarities among varying implementing institutions, deficiency of which is debilitating policy implementation at present Francis Lwesya Copyright (c) 2021 Francis Lwesya 2021-03-22 2021-03-22 5 2 e325 e325 10.26784/sbir.v5i1.325 The impact of dynamic capabilities and market orientation on firm performance: a case study of higher education consulting firms Dynamic capabilities (DC) and market orientation (MO) have been described as affecting firm performance, particularly in the case of fast-changing markets. They have been analysed for a wide range of firm sizes, but research on DC in the context of sole traders and micro enterprises is scarce. To begin filling this gap, this research focuses on the effects of DC and MO on firm performance in the case of sole traders, micro and small enterprises (MSEs), using higher education (HE) consulting as a case study. HE consulting was chosen as it is comprised of numerous sole traders and MSEs and it is subjected to significant and continual change. Using a survey completed by 60 MSEs based in the UK, Europe and North America, this research found that the sensing capability is a significant determinant of firm performance, alongside what this study defines as operational MO. Furthermore, operational MO was found to significantly moderate the relationship between the learning capability and firm performance. This work suggests that (i) research on DC should be extended to sole traders and MSEs; and (ii) the business literature is ripe for a growing body of applied work on DC going beyond their theoretical validation and looking to develop practical recommendations for firms in different industry sectors. Andrea Chiarelli Copyright (c) 2021 Andrea Chiarelli 2021-01-11 2021-01-11 5 2 e312 e312 10.26784/sbir.v5i1.312 Minimum rate of return of the owner-investor. The case of the family SME The calculus of the minimum rate of return is a centerpiece of the business world that poses a considerable challenge in the case of owner-investors and professional who advise family’ SME companies. This work shows how to face this challenge by using the three components model (3CM) for unlisted companies. Specifically, it discusses how to add the specific risk of an owner-investor who concentrates a large part of his wealth in a single asset, as is the case of most SME companies. The article contributes both from a theoretical and practical point of view. In the first case, it offers an underexplored line of research. In the second case, it gives owner-investors and experts a tool to guide them in their investment decision-making. Alfonso A. Rojo-Ramírez Copyright (c) 2021 Alfonso A. Rojo-Ramírez 2021-01-11 2021-01-11 5 2 e287 e287 10.26784/sbir.v5i1.287 The impact of COVID-19 on small and medium-sized enterprises in Armenia: Evidence from a labor force survey This paper assesses the impact of COVID-19 pandemic on small and medium-sized enterprises in Armenia. The analysis of representative nationwide survey data reveals that as compared with large-company employees, SME employees are more affected by the crisis, having been laid off or having reduced work hours and pay. Logistic regression results show that being employed by an SME doubles the likelihood of layoff and pay reduction. There is also support for the hypotheses that employees in sectors which allow for remote work, e.g., education and information and communication services, as well as those who have medium to high professional qualifications, have been less affected by the crisis. The findings call for more targeted government assistance to SMEs and low-skilled workers. Mane Beglaryan Gayane Shakhmuradyan Copyright (c) 2020 Mane Beglaryan, Gayane Shakhmuradyan 2020-09-15 2020-09-15 5 2 e298 e298 10.26784/sbir.v4i2.298 Sustainable Human Resource Management and Organisational Performance: An Integrating Theoretical Framework for Future Research This paper identifies and analyses six relevant approaches for the analysis of Sustainable Human Resource Management and Organizational Performance: Resource-Based View, Dynamic Capabilities View, Knowledge-Based View, Behavioral Theory, Human Relations Theory, and Cooperative Systems and Ambidextrous Organizations. They are complementarity approaches. They can all be applied to the analysis of a specific resource or capability for sustainable human resource management (HRM) and, consequently, organisational performance. However, the contributions made by the Resource-Based View and the new approach of Ambidextrous Organizations seem to be the most comprehensive approaches for studying sustainable HRM from an internal perspective of firms that allows the long-term development of their organizational and society performance. Lucía Muñoz-Pascual Jesús Galende Copyright (c) 2020 Lucía Muñoz-Pascual, Jesús Galende 2020-09-15 2020-09-15 5 2 e281 e281 10.26784/sbir.v4i2.281 SMEs led by women and training: an exploratory study The objective of this research was to characterize the training in companies led by women and determine if there is a relationship with the characteristics of the company and the businesswoman. A structured direct questionnaire was applied to a sample of 272 voluntary businesswomen from Mexico City. The main findings from this exploratory study show that most women entrepreneurs consider training important; nevertheless only half have been trained, the average annual training hours being 45. In addition, only one third have implemented training programs for their employees, and the training topics have been mainly in operational or production areas. It was also found a significant relationship between some characteristics of companies and entrepreneurs and training María Luisa Saavedra García María Elena Camarena Adame Copyright (c) 2020 María Luisa Saavedra García, María Elena Camarena Adame 2020-07-01 2020-07-01 5 2 1 17 10.26784/sbir.v4i2.270 Almería’s fruit and vegetable competitive advantage and the growth of GDP per capita Almeria's horticulture has experienced extensive growth that is sustained by the main macroeconomic variables: an acceleration of the agricultural income, broadly-speaking, a positive commercial balance throughout the first quindenium of the century and a GDP that on the whole represents the 16.69% of that accounted by all the province, without taking the agricultural auxiliary industry into account. This trend leads to an asymmetric process of deagrarianization which registers the whole of the Spanish economy and acts as a source of competitive plus point in comparative terms with the development of the social welfare of its territory. A linear regression analysis crosses two variables to assess the degree of coincidence that exists between the growth registered by Almeria's horticulture industry and the quality of life of its citizens. On the one hand, the productivity of the sector is used (average in tonnes of production per hectare) whilst, on the other hand, per capita GDP -because economic growth theories go against GDP as an indicator of social welfare. There is evidence that GDP per capita follows a parallel or symmetrical pattern to the citizens' perception of happiness. It has been categorically confirmed that the horticulture industry of Almería intervenes as a competitive advantage through its productivity, as it stands above all as a long-term determinant of the standard of living of any territory Antonio Miguel Gil Salmerón Copyright (c) 2020 Antonio Miguel Gil Salmerón 2020-07-01 2020-07-01 5 2 18 29 10.26784/sbir.v4i2.265 Sustainability as a Corporate Strategy: A Performance Comparison of Green and Non-green SME Hotels Sustainability in recent years has gained momentum as a business model, given the challenges facing the economy and society. Small and medium‐sized hotel companies have begun to apply new management systems based on sustainability, seeking a dual objective, on the one hand to differentiate themselves from their competition and reach growing market niches, on the other hand to have a more efficient and less polluting business model. When implementing this sustainable management, they also face challenges in its application, such as its lack of regulation by institutions and large investments in innovation. We will carry out an OLS model to identify the internal elements that characterize ecological hotels, and these management systems are being effective for SMEs in Barcelona (Spain) Ricardo Teruel-Gutiérrez Copyright (c) 2020 Ricardo Teruel-Gutiérrez 2020-07-01 2020-07-01 5 2 30 38 10.26784/sbir.v4i2.254 The European transition to a green energy production model: Italian feed-in tariffs scheme & Trentino Alto Adige mini wind farms case study The Europe 2020 Strategy is aimed at making the EU into a smart, sustainable and inclusive economy by 2020. This Strategy has to promote environmental policies and economic opportunities. Back in 2007 Italy was performing slightly below average and way below the most advanced EU Member States as far as percentage of green energy of the total energy produced in Italy. Measures were taken and though the Italian regulation around green energies has been hectic though effective. Italian legislation recently passed will put emphasis on the relevance of a Green Power strategy by guarantying an attractive minimum price per Kw produced through clean and environmental friendly sources, notably from Wind energy sources. Within the sector a new area is grafting attention: the mini wind farms. The Trentino Alto Adige region in Northern Italy has taken particularly profit of the national legal framework and has develop a further regional frame that has placed the region on top of the Italian green energy production charts. The local idiosyncrasy is making of the mini wind farms a case study Javier Heredia Yzquierdo Antonio Sánchez-Bayón Copyright (c) 2020 Javier Heredia Yzquierdo, Antonio Sánchez-Bayón 2020-07-01 2020-07-01 5 2 39 52 10.26784/sbir.v4i2.246 Entrepreneurship in times of crisis: An exploratory analysis of the COVID-19’s effects The current pandemic (COVID19) have led many governments to take drastic measures in respond of the global health crisis. The lockdown measures as a response to the crisis has further slowed global economic activities. In this context highlights the importance of the role of entrepreneurs to accelerate economic recovery. This paper focuses on analyzing how entrepreneurs face the situation caused by COVID-19 through a quantitative study with a sample of 236 Spanish entrepreneurs from the Region of Murcia. Results show how entrepreneurs have had to adapt to these new circumstances, facing challenges regarding the need for digitization, the lack of financing, the decrease in human capital or the perception of new opportunities that become viable businesses. Catalina Nicolás Martínez Alicia Rubio Bañón Copyright (c) 2020 Catalina Nicolás Martínez, Alicia Rubio Bañón 2020-07-01 2020-07-01 5 2 53 66 10.26784/sbir.v4i2.279 The effect of family ownership and generation on financial literacy The purpose of this article is to study the effect of family ownership and family generation on financial literacy. To do that, we have analysed a sample of 195 Spanish family businesses, reaching the conclusion that the level of family ownership exerts a negative influence on financial literacy. On the other hand, as family generations advance, financial literacy is favoured. This study benefits professionals and entrepreneurs, since they could, through a series of guidelines, improve financial literacy and, with it, the viability of their respective firms Antonio Molina-García Belen Florido-Ruiz Marta Campos Valenzuela Julio Diéguez-Soto Copyright (c) 2020 Antonio Molina-García, Belen Florido-Ruiz, Marta Campos Valenzuela, Julio Diéguez-Soto 2020-01-01 2020-01-01 5 2 1 15 10.26784/sbir.v4i1.236 Corporate Social Responsibility (CSR) by small and medium enterprises (SMEs): a systematic review This study aims to systematically review the key characteristics and issues in Corporate Social Responsibility among Small and Medium Enterprises (CSRS) research. The Systematic Assessment Quantitative Technique (SQAT) developed by Australian researchers, Catherine Pickering and Jason Antony Byrne, was used to identify and analyse 62 peer-reviewed CSRS articles from six high quality academic databases. Most of the studies took place in Europe and Asia while South America has been largely ignored. A significant number of CSRS research were empirical in nature, meaning that there is a need for more conceptual studies to aid the understanding of new CSRS norms and underlying factors. Additionally, CSRS articles focused mainly on identifying the various ways SMEs are implementing CSR. Finally, most CSRS articles adopted a single research method, with survey being the most dominant method. There is a need for future studies to combine a variety of methods so as to gain additional insight into CSRS related issues Grace Bikefe Umaru Zubairu Simeon Araga Faiza Maitala Ekanem Ediuku Daniel Anyebe Copyright (c) 2020 Grace Bikefe, Umaru Zubairu, Simeon Araga, Faiza Maitala, Ekanem Ediuku, Daniel Anyebe 2020-01-01 2020-01-01 5 2 16 33 10.26784/sbir.v4i1.243 A proposal to estimate the valuation of small and medium size companies using geographically comparable information A common prerequisite in valuation analysis is the availability of temporal information on financial variables. Nevertheless, reduced size companies-representing more than 98% on current productive systems- fail to have available temporal information to estimate valuations. In this paper, we offer a procedure for estimating reduced size companies’ values under the hypothesis that spatial behaviour matters for valuations. With this aim, we present the theoretical background for this hypothesis and introduce a spatial proposal with a case study of industrial companies where the significant role of space on firms’ valuations is previously tested. This analysis shows the relevance of spatial information in firms’ valuation confirming the predictive capability of our approach applying the out of sample methodology Mariluz Mate Paolo Occhino Copyright (c) 2020 Mariluz Mate, Paolo Occhino 2020-01-01 2020-01-01 5 2 34 51 10.26784/sbir.v4i1.229 Quality accounting information and audit effort: The Spanish case The objective of this paper is to analyze if small and medium auditors are able to detect the earning managments in their audited companies and, in that case, if the increase of the audit effort produces a lower level of discretionary accruals. As a particular contribution, the auditor's effort has been measured through the hours actually spent, unlike previous work based on estimated or subrogated fees or hours. Similarly, the sample used is composed of small and medium-sized audit firms, which gives added value for this segment of the most competitive audit market. The results show that the client reduces the positive abnormal accruals if the audit effort increases, thus valuing his figure as guarantor of the financial information, contributing to the debate on the quality of small firms. Regarding the negative accrual adjustments, it could be interpreted as an auditor passivity against the accounting conservatism and a learning effect on the client, which increases the negative discretional accruals as the contractual relationship with the auditor increases Antonio Fenoll-Bernal Jose Serrano Madrid Copyright (c) 2020 Antonio Fenoll-Bernal, Jose Serrano Madrid 2020-01-01 2020-01-01 5 2 52 68 10.26784/sbir.v4i1.244 The importance of entrepreneurship education and its terminology The analysis of the specialized literature on entrepreneurship education shows the existing doubts about its validity and the difficulty of comparing and generalizing the results obtained by previous research on this education, as there are many difficulties in its definition and terminology. Therefore, the objective of this work is to establish and delimit a definition that integrates the different perspectives existing in the previous literature and thus, to be achieved a unified language that contributes to define training programs that achieve the desire objectives, increase the entrepreneurial intentions and improve entrepreneurial skills Paula San-Martín Ana Fernandez-Laviada Andrea Pérez Copyright (c) 2020 Paula San-Martín, Ana Fernandez-Laviada, Andrea Pérez 2020-01-01 2020-01-01 5 2 69 87 10.26784/sbir.v4i1.221 Resilient organizational capabilities in NTBFs. Concept and variables as dynamic and adaptive capabilities In this paper we propose the concepts and variables that characterize resilient organizational capabilities (onwards ROC that can be viewed as dynamic capabilities. The concept of resilience highlights the ability to overcome trauma and the power to emerge more reinforced, considering the concept of “lessons learned” as the basis for its development. There are two key factors: attitudes and culture that can be transformed into a concept of resilience. In this work, the concept and characteristics of the ROC or “adaptive capabilities” generating innovation in the field of SMEs are presented. Also, the role of dynamic capabilities and intellectual capital that has been playing to date will be explained. In this research a methodological triangulation and a qualitative analysis to data on a Case Studies in new technology based firms (NTBFs) of the Scientific Park of Madrid and Colombian SMEs are realized. And will be completed with a quantitative analysis through the survey of these same two groups. The results of the comparative study show differences in analysed ROC, explained by cultural or economic themes, or by the sectors or sizes to which the companies of the reference groups belong, which is the basis for a future line of research. Eduardo Bueno Campos Cecilia Murcia Rivera Carlos Merino Moreno Copyright (c) 2019 Eduardo Bueno Campos, Cecilia Murcia Rivera, Carlos Merino Moreno 2019-07-01 2019-07-01 5 2 1 16 10.26784/sbir.v3i2.196 Analysis of the Risk Premium for Auditor Women: The Spanish Case This study investigates the application by auditor women of a risk premium in Spanish audit firms of SME companies as a hedging tool. Using econometric models, it has been developed univariate and multivariate analysis over 2,536 observations of clients audited by twenty one small and medium-sized audit firms for the period of 2002 to 2012. In short, the results suggest that the audited companies pay higher tariffs audit when the audit report is signed by a woman. The combined evidence in this study suggests the existence of a female risk premium. This premium in fees may exist due to gender differences existing when perceiving and tolerating risk. Unlike previous studies, the audit effort has been controlled by the hours dedicated to each of the works and focused the analysis on the segment of SME audit firms. Jisela Marivel Aguilar Agreda Jose Serrano Mercedes Bernabé-Pérez Copyright (c) 2019 Jisela Marivel Aguilar Agreda, Jose Serrano, Mercedes Bernabé-Pérez 2019-07-01 2019-07-01 5 2 17 33 10.26784/sbir.v3i2.193