This purpose of this dissertation is to examine the progressive and regressive factors that affect a small business owner’s decision to implement an exit strategy. An exit strategy can be defined as an entrepreneur's strategic plan to sell his or her investment in a company he or she has controlling interest in. An exit strategy gives a business owner a way to reduce or eliminate his or her stake in the business and, if the business is successful, make a substantial profit. Exiting a business is a complicated process which includes among other things, the evaluation, preparation, marketing, and ultimate sale of the business. Progressive factors push an owner to exit and regressive factors pull an owner away from exiting.

The aim of the research thesis was to identify whether or not the delivery of management education at base level, made a significant contribution to small enterprise solvency. Research by Williams (1986) indicated that over 60% of insolvent small enterprise (SE) owners gave one reason for insolvency as: ‘a lack of business/management experience or skill’. This implies that a significant percentage of SE insolvencies were avoidable, had the SE owner/managers acquired further business skill, knowledge or support. Literature suggests that increased business/management competencies may enable management blind spots within the internal activity structure of some enterprises, to be brought into focus and so controlled (Williams, 1984). This thesis undertakes research, to identify the contribution of various management education programs to SE solvency. The methodology used to test this contribution to business management knowledge, comprised surveys of management education facilitators and program participants, by education institutions from Government and private Registered Training Organisations (RTOs) and Government and private non-RTOs. The objective was to determine, through the use of quantitative surveys, if a significant difference could be established between educational facilities offered and small enterprise owner/manager requirements, with the intention to make this an initial exploratory research. The thesis examined perceptions of SE owner/managers participating in management education programs and whether there is a contribution to the solvency of businesses from an educational framework that gives SE owners who lack crucial business/management skills, direction towards specific information, knowledge and abilities. The intention was to bridge research gaps concerning levels of SE solvency and skill-education available using four major types of business educational organisations. The study included interviews with SE owner/managers participating in business programs to identify their perception of the contribution by courses to the solvency of their enterprises. The research examined whether there was a significant difference in certain clusters and competencies between researched management programs, to establish if completing any program affected positively, levels of SE solvency. Since the research focus was on the impacts of management education on SE solvency, another outcome was to profile the participants who reported positive and negative perceptions of the impact of SE management education courses on SE solvency. These results are documented in full in Appendix ‘C’. Positive perceptions The group of participants, that generally saw courses as having positive affects on SE solvency, had the following characteristics. Predominantly male with education levels above high school level up to VET registered certificate, aged between 26-47 years, wishing to build their solvency and management skills, and wanting to focus on assistance from mentors/consultants on goals and business plans. Negative perceptions Course participants who perceived negative attitudes to the impact of courses in SE solvency had characteristics below. Predominantly female with primary school or trade qualifications, bur not VET certified, up to 25 years old or between the ages of 48 and 55 years, and not interested in building business or management skills. The courses they attended did not focus on goal setting and the participants had little interest in working with mentors or consultants. Conclusion The body of knowledge relating to SE solvency was extended as a result of this study, through working directly with management course participants. This research concludes by advancing the theory that education of business owner/managers is not solely to be focussed on management competencies. A complete business education should include character development and business activity planning, as well as business/management competencies.

After a decade of reforming policy, building and developing the multi-sector market economy, Small and Medium Enterprises (SMEs) in Vietnam have developed strongly and contributed to creating employment, increasing GDP, and raising the nation’s volume of exports. However, SMEs have found difficulties on the way to development due to lack of management experience and financial resources, and due to uncertainty within the business environment. As a result, SMEs often faced obstacles during their operations. This thesis examines the relationship between financial management and profitability of SMEs to determine whether financial management practices and financial characteristics impact on SME profitability. Objectives of the thesis are (1) to investigate and describe features of financial management practices and financial characteristics of SMEs in Vietnam, (2) to develop and test a model of SME profitability, and (3) to contribute knowledge of the relationships between financial management and characteristics to improve SME profitability by using tools of efficient financial management. In terms of structure, the thesis has six chapters. The thesis begins by defining the research problem and questions, and providing a justification for the research study. Chapter one also reviews the research background, and presents definitions of terms, significance and scope of the study. Chapter two examines the economic background, business structure and the development of SMEs in Vietnam. This chapter also reviews previous research related to financial management for SMEs in Vietnam to identify gaps between financial management for SMEs in Vietnam and financial management for SMEs worldwide. Chapter three reviews financial management including financial management practices, financial characteristics and profitability of SMEs around the world, especially in the developed economies such as the United States of America (USA), the United Kingdom (UK), Australia and Canada. This review emphasizes profitability and the impact of financial management practices and financial characteristics on SME profitability. Objectives of this chapter are to review previous research related to the areas of financial management practices, financial characteristics, and profitability of SMEs and to build a model of the impact of financial management practices and financial characteristics on SME profitability. Chapter four discusses aspects of the research methodology including research design, data collection and data analysis methods, and hypothesis testing to support the model. Objectives of this chapter are: (1) to justify the research methodology of this study, (2) to explain research methodology used in the study, and (3) to demonstrate how research design, and data collection and analysis can be utilized in this study to answer the research questions outlined in the chapter 1. Data analysis and findings are presented in chapter five. This chapter presents descriptive findings of financial management practices, financial characteristics and SME profitability and findings of the research study related to testing the model of SME profitability. Objectives of this chapter are (1) to systematically present the descriptive findings of the research study, (2) to interpret significance of these findings based on data analysis, (3) to present the results of testing the model of SME profitability, and (4) to explain how the model, developed from a literature review, was supported by data analysis. Finally, the thesis ends with chapter six where conclusions are summarized and applications of the research findings are indicated for the financial management practitioners. The thesis provides descriptive findings of financial management practices and financial characteristics and demonstrates the simultaneous impact of financial management practices and financial characteristics on SME profitability. In addition, the research study provides a model of SME profitability, in which profitability was found to be related to financial management practices and financial characteristics. With the exception of debt ratios, all other variables including current ratio, total asset turnover, working capital management and short-term planning practices, fixed asset management and long-term planning practices, and financial and accounting information systems were found to be significantly related to SME profitability. With the findings as presented above, this research study provides many implications for financial management practices and contributes to knowledge of financial management of SMEs. The model of SME profitability can be used as guidance for actions to improve the profitability of SMEs in Vietnam.

The purpose of this exploratory study was to examine and describe the learning projects of a selected sample of small business owners in a community in the Southeastern United States. The study included the revision and modernization of Tough’s (1971) Learning Project Interview Schedule. A total of 35 small business owners were interviewed using a modified version of Tough’s Learning Project Interview Schedule. The schedule consisted of 10 learning project and seven demographic items that were adapted or created by a collaborative research team at the University of Tennessee using Tough’s (1971) Interview Schedule. Data revealed that participants had a mean of 6.8 learning projects conducted over the previous 12-months. The learner was the primary planner of 55.9% of all learning projects with a mix of planners used in 22.7% of cases. This study found that African-Americans identified the learner as the primary planner in 71.9% of learning projects, higher than the overall mean. Demographic information revealed that a large majority (88.6%) of participants had at least an intermediate computer skill level. This was reflected in the use of technology for learning projects. The Internet was indicated as a resource in 43.3% of learning projects and was second only to print sources (54.2%). Technology played a key role in the learning projects of small business owners as it acted as both a primary source of information and as a secondary source for finding additional resources including content experts, print sources, and multimedia. Recommendations for further research include the need for additional studies on the preferences for, and impact of using technology for conducting learning projects. Specifically, research may explore the learner’s perception of benefits of various forms of technology for conducting learning projects.

European Union’s (EU) dependence on fossil fuel imports strongly affects its energy supply and economic and national stability. In order to reduce its dependence and maintain the leadership position in GHG emissions reductions and renewable energy consumption, EU has set ambitious targets of reducing GHG emissions by at least 20% compared with 1990, raising the share of renewable energy to 20% and increasing the levels of biofuels in transport fuels to 10% by 2020. While some of the countries, due to their large renewable potential, have already reached set targets, some are still far behind. Biomass, with 69.8% share in gross inland consumption of renewables, has the greatest potential. Since some EU members have low availability of biomass, and are scarce in other renewable sources, they have become biomass importers. As some studies have shown, imports of biomass reduce cost of achieving targets for renewable electricity and increase electricity production from biomass. Wood pellets, as currently the most tradable solid biomass commodity, already reached significant shares in imports and consumption of biomass in some EU countries. The most of pellets were traditionally imported from Canada; however, last year US became the EU’s largest importing partner with 534,000 tons of industrial pellets exported mainly to Belgium and Netherlands. The EU’s increasing demand for wood pellets was a major driver for substantial increase in the wood pellet production capacity in US, with many plants being constructed for export to EU. This thesis evaluates the possibility of producing wood and switchgrass pellets in East Tennessee, assuming three feedstock scenarios, and their export to EU. Results from the base-case model showed that production costs of pellets were $155, $164 and $170 per ton, while price of pellets on the EU market will have to be $207, $216 and $222 per ton in the 100% mill residue, 40/60 blend and 100% switchgrass scenarios, respectively, for the project to breakeven. Sensitivity analysis showed a strong impact of feedstock price, moisture and exchange ratio on project’s return on investment.

This thesis provides a case for the alternative approach to economic and human development through the solidarity economy. Neoliberal growth strategies, including the Washington Consensus, are consistently supported by leading international development organizations yet continue to create marginalized communities throughout the world. Solidarity economies, similar to the one in Conjunto Palmerias, Brazil, move beyond this neoliberal approach to find alternative economic measures that expand the capabilities of the entire community. This type of economy embraces a vision of a market that pragmatically responds to the economic and social challenges of globalization. In conclusion, this thesis argues that the global expansion of the solidarity economy movement affirms confidence that an alternative approach to both human and economic development is possible in today’s capitalistic world.

The hardest time to receive financing for a venture is at its earliest stage. These ventures are among the riskiest investments for an investor, which creates a gap in financing that is often bridged through a source of funding called Angel Financing. Angel investors are one of the best providers of early stage funding. This thesis will explain what angel investing is, how they work, and what angels look for. This information will help entrepreneurs be better equipped to find an angel investor for their venture.

This thesis details the business plan of CollegeMatchers, Inc, including a market overview. CollegeMatchers is a quick, easy, and free on-campus marketplace, that strives to create self sustaining communities on campuses everywhere.

This research paper tests for factors that correlate with brewery success, generates growth projections for distinct industry sectors, implements Porter’s "Five-Forces" framework, and establishes general considerations for opening a craft brewery. There were no significant findings when testing for factors that correlate with brewery success. This reveals that breweries can successfully operate in a diverse range of environments, and that success is highly attributable to entrepreneurial ability and other difficult-to-measure forces. Growth in volume production is projected to be positive for microbreweries, brewpubs, and regional breweries until at least 2015. Contract breweries will suffer negative growth. Porter's analysis reveals an industry described by low-to-moderate threat of entrants, moderate internal rivalry, low threat of substitute goods, moderate-to-high bargaining power of consumers, and moderate bargaining power of suppliers.

Taiwan's population aging rapidly, making many current long-term care institutions, in their business model is extremely different from the past .The purpose of this study is to investigate the market supply and demand for long-term care institutions and the current operating status of the long-term care institutions in Kaohsiung area, thereby identifying the key successful factor of the institutions operating surface. This study adopts case study research of descriptive studies, by the way of in-depth interview to collect information on cases, and adopts Prof. Cher-Min Fong¡¦s ¡]National Sun Yat-sen University¡^the seven dimensions of the business model used, to analysis the competitive advantage of enterprises, as the main analytical tools, including the "product line strategy," "work processes strategy," and " Channel strategy " and "market segmentation strategy," " Services strategy," "strategy focused on the value of activities" and "Technology Strategy"; In addition to Michael Porter¡¦s "five forces anaysis model" and the external environmental factors as a supplementary analysis tools. Through six cases of the in-depth interview, this thesis research found that: The current domestic long-term care market, supply far exceeds the actual demand of about twice.The operating of long-term care institutions of conservation type, failed to actively cooperate with the government planning of aging in place, community service goals, adjusted operating strategies, result in more limited operation. In addition to five forces analysis found that the current operating environment of the existing institutions is adverse, and inter-industry bargain with serious competition, lower quality of care even more serious situation, but also the moral crisis will inevitably trigger controversy. Institutional trading competition, the lack of mutual contacts and exchanges, and their competitiveness also depends on whether the operator has the determination to develop long-term investment. The interview results, the next most important business strategy followed by "expansion of target markets and positioning," "increase services, outreach services," and "innovative services, commodities" and "improving the organizational structure and management system." The future as more competitors access will be serious competition and in the circumstances of difficult to reduce costs, strengthening marketing capabilities, to pursue the differences and decentralization strategy for the industry.