The study is based on a comparison between franchises and independent businesses. The purpose of the study is to have a clear understanding of the advantages and disadvantages of SMEs and franchise businesses in Rustenburg (North West Province) and its environs. A number of textbooks, published works and web articles on SMEs and franchise businesses were used in determining definitions and advantages and disadvantages that are experienced by the entrepreneur. A survey research design was used with a questionnaire as data-gathering instrument. The purpose of the questionnaire was to determine the experience and viewpoints of the entrepreneurs towards SMEs and franchise businesses. The study population consisted of 71 entrepreneurs who operate in the business environment of Rustenburg (North West Province) and its environs. Limitations in the research were identified and several recommendations were made in order to guide the entrepreneur in choosing a business that will suit his/her needs. The findings of the study offer advantages and disadvantages for both the franchise and independent businesses. The research results lead the entrepreneur to seek for a good business opportunity that will add value in terms of enterprise development, ownership, and financial benefits. / Thesis (M.B.A.)--North-West University, Potchefstroom Campus, 2010.

The study is based on a comparison between franchises and independent businesses. The purpose of the study is to have a clear understanding of the advantages and disadvantages of SMEs and franchise businesses in Rustenburg (North West Province) and its environs. A number of textbooks, published works and web articles on SMEs and franchise businesses were used in determining definitions and advantages and disadvantages that are experienced by the entrepreneur. A survey research design was used with a questionnaire as data-gathering instrument. The purpose of the questionnaire was to determine the experience and viewpoints of the entrepreneurs towards SMEs and franchise businesses. The study population consisted of 71 entrepreneurs who operate in the business environment of Rustenburg (North West Province) and its environs. Limitations in the research were identified and several recommendations were made in order to guide the entrepreneur in choosing a business that will suit his/her needs. The findings of the study offer advantages and disadvantages for both the franchise and independent businesses. The research results lead the entrepreneur to seek for a good business opportunity that will add value in terms of enterprise development, ownership, and financial benefits. / Thesis (M.B.A.)--North-West University, Potchefstroom Campus, 2010.

Dans les pays en développement, les liens sont étroits et multiformes entre ledéveloppement urbain et les économies rurales. Dans les régions de montagnes, notamment enAfrique de l’Est, les espaces sont fortement interdépendants à travers les relations commerciales,les déplacements de personnes, les flux de productions, selon des échelles géographiques ettemporelles variables. Des logiques de continuum, de gradient, voire de rupture, sont à l’oeuvre.Dans ce contexte, le rôle joué par les Petites et Moyennes Entreprises (PME) reste encorelargement à démontrer, notamment leur place dans la structuration des flux de produits et depersonnes (exemple des petits entrepreneurs commerçants, des transporteurs faisant la navetteentre zones de production, de commercialisation et de consommation, etc.). La place des petitesvilles dans ce processus d’intégration territoriale est importante, car elles jouent souvent le rôlede premier relais et d’interface préférentiel entre les économies urbaines et rurales.L’approche par les PME permet d’appréhender le rôle de l’initiative individuelle et collective(voire communautaire) dans la dynamique de développement territoriale, mais égalementd’analyser les actions mises en place (ou non) pour favoriser l’entrepreneuriat, par les autoritéspubliques et les organisations non gouvernementales (accès au microcrédit, etc.).Le terrain choisi est la province du Central Kenya, région du Mont Kenya et des Aberdares, avecles petites villes de Sagana et Karatina comme zone d’étude privilégiée. C’est une zone de fortesdensités de peuplement, à l’économie rurale voire agricole bien structurée mais en reconversion(économie post-Café) et qui dispose d’un réseau urbain hiérarchisé (petites villes d’étude, villemoyenne de Nyeri, proximité relative de la métropole de Nairobi).Les principaux résultats témoignent du rôle dissymétrique joué par les petits entrepreneurs, et àtravers eux par les petites villes, dans les relations villes-Campagnes. Si leur rôle est crucial dansles flux entrants (approvisionnement des consommateurs urbains et ruraux desservis), il estrelativement faible dans les flux sortants, ce qui témoigne des logiques de concurrence exercéspar des opérateurs extérieurs (relations directes entre grossistes urbains et producteurs ruraux)mais aussi par des intermédiaires locaux (coopératives, grossistes, etc.). / Abstract: Small and Micro-Enterprises (SMEs) are known to form significant nodes inrural-Urban linkages. Consequently, these SMEs serve as strong nodes which link thesurrounding rural areas to Local, National and Regional Markets through forward andbackward linkages. By strengthening and opening up opportunities for SMEs ‘virtuous’circles of rural-Urban economic linkages are created.The study of the rural-Urban linkages activities is still in development. This thesistherefore seeks to add to the literature by generating and documenting information onthe role of SMEs in small towns in rural-Urban linkages. Kenya is an agricultural-Ledeconomy, hence the need to focus on small mountainous towns. The towns aresurrounded by rich agricultural areas and are highly populated, making them busy hubsof mobility and exchange. Therefore, Mt. Kenya region is the chosen area of study withSMEs in Sagana and Karatina towns chosen as centres representing small towns.Based on the study results, SMEs were found to play an relatively small role in forwardlinkages. Only 12% of goods and services coming to the small towns from the ruralareas were forwarded by the SMEs, and only 25% of these goods found their way toother markets. The study established that some factors such as to the marketing chaincreated by the Famers Sacco’s, the use of Information and CommunicationTechnologies and contracting farming could be contributing to the poor show of SMEs inforward linkages.The rural functions in urban SMEs were found to be real and instrumental inentrepreneurship development. They were not only vital in business survival in lowseasons but were also found have positive correlations with large capital base, highmonthly turnover, increased access to loan facilities, and large size of the enterprise.Previous studies have shown that the rural-Urban trade to be more than urban-Ruraltrade. However, the current study shows the latter is almost three times more. Theresults could be said to differ in case where the point of focus is the small trader in thesmall town as opposed to a general urban-Rural trade approach. Also the nature of thefarmers markets could determine the flow pattern between urban and rural supplies.Karatina and Sagana markets behaved more of international markets, where most of thetraded goods and supplies were not from the local catchments. This meant ruralpopulace depended on the towns not only for manufactured goods and professionalservices but also for agricultural produce.

Magister Economicae - MEcon / In this mini-thesis, I explore what impact a particular project in Indonesia on strengthening micro, small and medium enterprises (SMEs) has on economic development. I argue, firstly that the project makes a positive contribution to development and secondly that an approach which combines training programs and technical assistance with credit makes a greater contribution than training programs and technical assistance alone. I use the view that SMEs are very important for development as the basis of my argumentation. In spite of this, there is a lack of support for SMEs from the Indonesian government. This gap of support for SMEs was and is partially filled by non governmental organizations (NGOs). The NGOs support SMEs in dealing with problems such as the lack of working capital as well as the lack of knowledge about production, marketing, and management. I focused my field study on the USC-Satunama project. USC-Satunama is a non-governmental organization which works (amongst other activities) to strengthen SMEs. Its activities include the provision of training programs and technical assistance to improve the human capital of the entrepreneurs as well as providing credit. Training programs and technical assistance are provided to all the beneficiaries of the project. However, not all beneficiaries are provided with a credit facility. Therefore, the respective impact of the two different types of support, (i)' a combination of training programs and technical assistance with credit and (ii) training programs and technical assistance alone, can be explored. I use the improved welfare of the entrepreneurs indicated by the increase of their profits as yardstick to ascertain the impact of the project on development. The result of the field study is: the approach of the USC-Satunama project, according to which a training program and technical assistance are combined with credit, indeed makes a significant and positive contribution to the welfare of the entrepreneurs and thus it contributes to the development of Indonesia.

This study provides an understanding on how Relationship Quality is conceptualised in business-to-business marketing relationships. It investigates the relationships of Jordanian Banks with their small and medium sized enterprise (SMEs) customers in terms of Commitment, Satisfaction, Trust, Communication, Transparency, Understanding, and Cooperation. It examines the antecedents and outcomes of the quality of corporate customer relationships by developing a conceptual model which empirically tests this relationship. This research builds and validates a research model based on the literature survey and uses a mixed methods approach. Qualitative data were gathered through in-depth interviews to achieve the goal of refining the initial research model. The second stage is a quantitative empirical study that uses a questionnaire and tests the empirical model generated in the first stage. This integration of methods provides a more complete view of this emerging area of marketing theory. Using Structural Equation Modelling; research findings support the use of a secondorder relationship quality construct consisting of Trust, Commitment, and Satisfaction as a direct outcome of a relationship and is named ¿Attitudinal Loyalty¿. Antecedents including; Transparency, Communication, Understanding and Cooperation were found to have a positive impact on relational outcome in a business-to-business context in Jordan. The importance of Transparency emerged as one of the most significant determinants of Relationship Quality, which is considered to be a new finding and not common among previous studies. Communication appears to make the biggest contribution overall and have direct and indirect relationships with other variables. It is therefore a major source of success in a business relationship. This research has several implications for the theory and practice. An important issue is the affects on change management. It requires the establishment of business communications to strengthen existing relationships and to form new ones. This implies developing an interactive approach with other parties. This study gives the banking industry an insight for developing their marketing strategy. It also provides a tool to assess the portfolio of relationships, which helps in targeting specific customers. Furthermore, Transparency in the flow of information imposes cultural change. Studying the Jordanian market can help to provide an insight into an emerging economy. Several qualitative findings showed that the relationship between banks and their small and medium enterprises is interesting. All this enriches and adds to the originality of this work and contributes to existing theory by investigating how relationships between partners can be enhanced. / Al-Balqa ' Applied University

Small and medium enterprises (SMEs) are considered to be a most efficient tool which is able to push economic and social development to experience significant progress and development as they offer useful services to consumers, and provide much needed employment. With this in consideration, they are useful for training, acquiring experience and technical and managerial skills. The objectives of this research are to identify the Critical Success Factors (CSFs) for SMEs in Saudi Arabia. Based on the literature review, 20 factors have been identified and subsequently structured into three groups, namely entrepreneurial, enterprise and environmental factors. The study also focuses on the SMEs Support Programme by identifying the current situation and accordingly providing recommendations based on those made by the support providers. Data have been collected by utilising a mixed method approach: first, 146 postal questionnaires with SME owners/managers have been analysed by using SPSS; second, in order to gain further understanding of the situation and particular challenges, 15 in-depth interviews with support providers have been conducted; and third, Analytical Hierarchy Process (AHP) has been used to analyse the pairwise comparison of the factors. The main findings of this study are that, for the CSFs for SMEs in Saudi Arabia, three factors are deemed to be important both for owners/managers and support providers. These factors are quality of the product and service, customer satisfaction, and business planning. The findings also indicate that there are many ¿important support gaps¿ which show that existing support needs to be addressed in order to improve and develop the support structure. / Government of the Saudi Arabia, Ministry of Higher Education.

The New Capital Accord (henceforth, Basel II), is expected to impose dramatic changes on banks and other providers of corporate financing, as well as companies. Literature indicates that small and medium sized enterprises (henceforth SMEs), in general, and in particular German SMEs seem to be affected: Germany has the highest SME density with SMEs comprising 99.6% of all corporations (IMF, 2008), these SMEs are highly dependent on banks for financing (see Jacobson et al, 2006). However, there is huge controversy in the literature concerning how these changes will look, right before Basel II came into effect in the years 2007 / 2008 in the European Union. In order to explore this effect from a Post-Basel II perspective, the objective of this research project is to establish what effect Basel II will have on corporate financing of SMEs in Germany. The high impact on SMEs (in Germany), combined with controversial evidence from extant Pre-Basel II research, indicates a high relevance to academics and practitioners for this thesis. This thesis is probably the first from a Post-Basel II perspective which covers both the SMEs' as well as the financiers' perspective. Based on a structured literature review using the comparative method (Peters, 1998) 'Most Different Systems' evidence is provided that there is no consistent picture regarding the effect of Basel II. Therefore, further research is needed to determine whether the effect in Germany is consistent, from a Post-Basel II perspective, with regards to the conditions which trigger certain mechanisms, from a 'scientific realism' (Smith, 1998) perspective, because the literature indicates that 'positivist generalising' has limited validity. Building on Creswell (2003), an 'exploratory sequential' design was created to test three initial hypotheses (as confirmation or refutation of a theory, see Gujarati, 2003:8): a multi-method design is best suited to the author's philosophical stance of 'scientific realism' by means of triangulation (Robson, 2002:174). The result of the initial quantitative phase is based on the analysis of questionnaire data from 125 SMEs and financiers (banks, private equity companies, family offices, providers of alternative means of financing) derived from a probabilistic sample frame in the fourth quarter of 2008. Mathematical models for SMEs and financiers regarding the three initial hypotheses were set-up and tested using the appropriate statistical tests. In order to limit bias by means of a spill-over effect from the financial crises, control questions were used. The subsequent qualitative phase by means of semistructured elite interviews (Saunders et al, 2007:312) between March and May 2009 enabled a valid triangulation and provided in-depth insights into how SMEs can cope best with Basel II. The purposive sample, of 17 'important cases', included company owners and top-level financier executives. In a conclusive quantitative and qualitative synopsis, the three initial hypotheses were acknowledged. However, the qualitative in-depth analysis by means of 'causal networks' (Miles and Huberman, 1994) led to an amendment of the hypotheses as follows: 1. Corporate finance has become different for SMEs because the 'house bank principle' has changed to a 'core bank principle' due to Basel II. Shopping around regarding credits will be more difficult which makes financing more difficult. This could be overcompensated by major SMEs, by using non-credit corporate financing which leads to a reduction of the 'house bank' principle. 2. SMEs can cope best with the effect when they: a) proactively engage in rating and improve the parameters, or b) they adjust their strategy as stated in hypothesis 3. 3. Financiers (especially non-bank financiers) will engage in SME corporate finance when they have a sound financial basis / management and when they adjust their strategy in terms of growth with the aim of niche market leadership and when they open up for exit strategies.

The success of small and medium enterprises (SMEs) is critical to Europe’s economic health, however, our understanding of SME strategic behaviour is predominantly based on large enterprise theory. This study uses the Miles and Snow (1978) typology to examine the strategic behaviour of 150 UK SMEs. It also investigates whether strategy type, environment adaptation and organisational performance can be predicted by several contingency factors: organisation size, age, industry type, and management style. The findings confirm that the typology is not well suited for categorising SMEs; organisations that rarely develop through all three domains of the adaptive cycle to be sufficiently eligible for categorisation by one of the four pure archetypes. However, similar patterns of strategic behaviour were observed for certain dimensions, largely independent of the industry type or size of the SME, suggesting that an optimal configuration of mixed strategies may exist. Furthermore, Reactors, or those with mixed strategies, were found to perform similarly as Analysers and better than Defenders. The study also found that by fitting nominal logistic regression models to organisation age and size data, it was possible to predict strategic behaviour and environment adaptation, and to a lesser degree, financial performance. Surprisingly, the industry type and management style data were observed to exert minimal influence on the outcome variables. Finally, this research provides important insight relating to the validity concerns of the Miles and Snow typology and categorisation method employed, and demonstrates how these can be avoided.

In the business-to-business (B2B) financing industry, financiers offering financing to SMEs are finding it increasingly difficult to attract new customers and to retain existing customers. One way of attracting and retaining customers is by creating superior customer satisfaction, as it is believed that customer satisfaction leads to loyalty which ultimately results in customer retention. Customer satisfaction could also be an important indicator as to whether customers would want to build long-term relationships with financiers. With the current tendency towards the standardisation of financing products and services, building and maintaining relationships with customers is becoming increasingly important as a way to distinguish financiers from their competitors and, concurrently, to ensure survival. However, not all customers want to build long-term relationships with financiers. It is therefore important that financiers should identify those customers who have positive relationship intentions and focus their marketing efforts on these customers. The primary objective of this study was to develop a framework for relationship intention, satisfaction, loyalty and retention of SMEs in the business-to-business (B2B) financing environment. The descriptive research of this study is based on information gathered through quantitative, self-administered electronic surveys that were distributed among a South African financier’s (Business Partners Limited) customer database. In total, 120 SME respondents participated in the study, resulting in a final realisation rate of 12%. Results from this study indicate that the relationship intention measuring scale used in this study was valid and reliable in the B2B context within the financing environment. Results also show a significantly large positive relationship between respondents’ overall satisfaction and their loyalty towards Business Partners Limited (BPL), as well as a significantly large positive relationship between respondents’ loyalty and retention towards BPL. In addition, respondents with high relationship intentions showed higher overall satisfaction with loyalty and retention towards BPL than those respondents with moderate and low relationship intentions. Furthermore, the results indicated that respondents with moderate relationship intentions have higher overall satisfaction with BPL than those respondents with low relationship intentions. Respondents with moderate relationship intentions also displayed higher loyalty and retention towards BPL than those respondents with low relationship intentions. The results furthermore showed positive linear relationships between respondents’ relationship intentions and their overall satisfaction with BPL, between respondents’ relationship intentions and their loyalty towards BPL, as well as between respondents’ relationship intentions and their retention towards BPL. The results did not point to any clear parallels between respondents’ business size and their overall satisfaction, loyalty or retention. However, this study found positive relationships between respondents’ relationship intentions and their satisfaction, loyalty and retention. It is especially noteworthy that customers showing high relationship intentions overall, also showed a higher inclination to be satisfied, to be loyal and to become repeat customers (thus indicating retention). It is therefore recommended that financiers should rather use their customers’ relationship intentions and not their business size as focus, because strong positive relationships exist between respondents’ relationship intentions and their overall satisfaction, loyalty and retention. It is furthermore recommended that financiers should focus their marketing efforts and spending on customers with high relationship intentions as these customers tend to show higher satisfaction, loyalty and retention than those customers with moderate and low relationship intentions. Future research may consider using the relationship intentions measuring scale found to be valid and reliable in this study to other B2B contexts to determine the applicability thereof in other industries. Also, future research could consider testing the antecedents of relationship intentions, such as perceived brand equity, perceived organisation equity and perceived channel equity to determine the influence thereof on customers' relationship intentions. Finally, the study can be replicated under financiers’ B2C customers to determine whether relationship intentions are also applicable to these customers in the financing environment. / PhD (Marketing Management), North-West University, Potchefstroom Campus, 2014

In the business-to-business (B2B) financing industry, financiers offering financing to SMEs are finding it increasingly difficult to attract new customers and to retain existing customers. One way of attracting and retaining customers is by creating superior customer satisfaction, as it is believed that customer satisfaction leads to loyalty which ultimately results in customer retention. Customer satisfaction could also be an important indicator as to whether customers would want to build long-term relationships with financiers. With the current tendency towards the standardisation of financing products and services, building and maintaining relationships with customers is becoming increasingly important as a way to distinguish financiers from their competitors and, concurrently, to ensure survival. However, not all customers want to build long-term relationships with financiers. It is therefore important that financiers should identify those customers who have positive relationship intentions and focus their marketing efforts on these customers. The primary objective of this study was to develop a framework for relationship intention, satisfaction, loyalty and retention of SMEs in the business-to-business (B2B) financing environment. The descriptive research of this study is based on information gathered through quantitative, self-administered electronic surveys that were distributed among a South African financier’s (Business Partners Limited) customer database. In total, 120 SME respondents participated in the study, resulting in a final realisation rate of 12%. Results from this study indicate that the relationship intention measuring scale used in this study was valid and reliable in the B2B context within the financing environment. Results also show a significantly large positive relationship between respondents’ overall satisfaction and their loyalty towards Business Partners Limited (BPL), as well as a significantly large positive relationship between respondents’ loyalty and retention towards BPL. In addition, respondents with high relationship intentions showed higher overall satisfaction with loyalty and retention towards BPL than those respondents with moderate and low relationship intentions. Furthermore, the results indicated that respondents with moderate relationship intentions have higher overall satisfaction with BPL than those respondents with low relationship intentions. Respondents with moderate relationship intentions also displayed higher loyalty and retention towards BPL than those respondents with low relationship intentions. The results furthermore showed positive linear relationships between respondents’ relationship intentions and their overall satisfaction with BPL, between respondents’ relationship intentions and their loyalty towards BPL, as well as between respondents’ relationship intentions and their retention towards BPL. The results did not point to any clear parallels between respondents’ business size and their overall satisfaction, loyalty or retention. However, this study found positive relationships between respondents’ relationship intentions and their satisfaction, loyalty and retention. It is especially noteworthy that customers showing high relationship intentions overall, also showed a higher inclination to be satisfied, to be loyal and to become repeat customers (thus indicating retention). It is therefore recommended that financiers should rather use their customers’ relationship intentions and not their business size as focus, because strong positive relationships exist between respondents’ relationship intentions and their overall satisfaction, loyalty and retention. It is furthermore recommended that financiers should focus their marketing efforts and spending on customers with high relationship intentions as these customers tend to show higher satisfaction, loyalty and retention than those customers with moderate and low relationship intentions. Future research may consider using the relationship intentions measuring scale found to be valid and reliable in this study to other B2B contexts to determine the applicability thereof in other industries. Also, future research could consider testing the antecedents of relationship intentions, such as perceived brand equity, perceived organisation equity and perceived channel equity to determine the influence thereof on customers' relationship intentions. Finally, the study can be replicated under financiers’ B2C customers to determine whether relationship intentions are also applicable to these customers in the financing environment. / PhD (Marketing Management), North-West University, Potchefstroom Campus, 2014