Over the past 10 years, different types of financing have become available in the Netherlands. It is now possible to combine bank loans, crowdfunding loans and risk capital. Moreover, fintech applications lower the threshold for applications and reduce response times from weeks to just days or even hours. Fraser, Bhaumik and Wright (2015) point out there is a lack of knowledge of the cognitive process involved in selecting SME financing. This paper looks into the selection process financial advisers use, against the backdrop of the growing range of funding possibilities. To assess this process, we try to understand dominant habits and related heuristics. Within our explorative study, 19 experienced and independent SME financial advisers were interviewed. The questions address their knowledge, skills, experiences and choices in the selection process on the financing or refinancing of working capital and growth. Taking a grounded theoretical approach, we use Atlas TI to label all answers and statements step by step. The findings suggest a strong bias of decision-making towards the more traditional banking products. Yet advisers state they are aware of, and familiar with, other solutions. We have also found that fintech solutions are hardly used to prepare financing solutions up front. Financial advisers estimate the likelihood of acceptance by a few financial providers they know well within their personal network. We suggest that there is a behavioural approach to financing in the day-to-day decisions made by financial advisers. As long as automated selections are not fully transparent and are unable to combine all types of financing up front, financial advisers will be guided by habit or by availability, confirmation and affect heuristics, rather than looking for new financing solutions and combinations.
MULTIFILE
The complexity of Information Technology (IT) is increasing; so are customer expectations. Consequently it is not easy for especially small and medium enterprises (SMEs) to keep track of all IT-developments, let alone leverage them in business operations with the aim to satisfy increasingly demanding customers. This also holds for the health care sector. This research is focussed on first line health care, and deals with the following research question; ‘which IT capabilities do SMEs within the first line health care sector need to have at their disposal in order to reach Business/IT-Alignment (BITA) maturity?’ Using the best practices ITIL, ASL and BiSL (cf. Bon, et al. 2007), IT capabilities are formulated. Based on the theory of Luftman (2000) business/IT-alignment and maturity is measured. Quantitative research of 123 first line health care SMEs in the Netherlands, confirms a moderate to strong correlation between the IT capability constructs ‘Organisation’, ‘Processes’, ‘Knowledge’ and ‘People’ on the one hand, and BITA maturity on the other. The results indicate that SMEs within the first line health care sector should invest in IT capabilities related to the enterprise's ‘Organisation’ and ‘Processes’ to strive for increased business and IT maturity.
This paper analyzes connectivity and efficiency of a SME network across two industries. These characteristics are likely to be different for networks of various industries. The concept of 'small worlds' is used to judge overall network efficiency. The actual network can be classified as one in which a small world is present. Visualization of the results shows a single core group in the network. It was found that non-profit as well as science actors were overrepresented in the core of the field.
Social enterprises (SEs) can play an important role in addressing societal problems. SEs are businesses whose primary objective is to generate social impact (e.g. well-being, social wealth and cohesion, and ecology) through a market-based model. SEs achieve this through a hybrid business model, trading-off financial and social value creation objectives. SEs typically face higher costs, for example because of ethical sourcing principles and/or production processes centering around the needs of workers who are vulnerable or hard-to-employ. This results in SEs’ struggling to scale-up due to their relatively costly operating model. Traditional management techniques are not always appropriate, as they do not take into account the tensions between financial and social value creation objectives of SEs. Our project examines how continuous improvement, and in particular the philosophy and tools of Lean can be harnessed to improve SEs competitiveness. Lean organizations share many values with SEs, such as respect for people, suggesting a good fit between the values and principles of Lean and those of SEs. The consortium for this project is a cooperation between the research groups Improving Business and New Marketing of the Center of Expertise Well-Being Economy and New Entrepreneurship and the minor Continuous Improvement of AVANS Hogeschool, and the SME companies Elliz in Company and Ons Label. The project consists of two phases, an exploratory phase during which the question “in what ways can the philosophy and tools of Lean be used by Social Enterprises?” will be addressed. Interviews and focus groups will be conducted with multiple SEs (not only partners). Participant observation will be conducted by the students of the minor Continuous Improvement at the partner SEs. During the second phase, the implementation of the identified principles and tools will be operationalized through a roadmap. Action research will be conducted in cooperation with the partner SEs.
Client: European Commission (DG-Enterprise), subcontracted through Comunitá Montana Associazione dei Comuni Trasimeno-Medio Tevere SLOW TOUR (Sustainable Lake Oriented Walking Tourism) is a project funded by the European Commission's DG Enterprise and Industry within the Programme Competiveness and Innovation Framework (CIP) under the call “Knowledge Networks for the competitiveness and sustainability of European tourism”.SLOW TOUR's goal is to make tourism on and around European lakes more sustainable and competitive. To achieve this, best-practices, certifications and networks in lake tourism were gathered and analysed within a coherent framework, leading to a “Manual of Excellence of Lake tourism in Europe” as its main product. CSTT's contribution was mainly focused on a Sustainability Impact Assessment of a number of European lake destinations, and the development of indicators and benchmarks for sustainable tourism products in lake areas.For SLOW TOUR, the NHTV Centre for Sustainable Tourism and Transport was subcontracted through Comunitá Montana Associazione dei Comuni Trasimeno - Medio Tevere (Italy). The other parties are Global Nature FUND, representing the Living Lakes network, and the University of Perugia. The project ran from June 2010 to November 2011.
TOURBAN objective is to spearhead a transnational and cross-sectoral movement towards tourism sustainability in urban areas across Europe, leveraging SME capacities and skills to uptake best practices and develop innovative solutions that make them both more sustainable and competitive. It will do so by tackling current urban tourism challenges in an era of increasing tourism visitor pressure, acting in European cities such as Amsterdam, Barcelona, Copenhagen, Dubrovnik, Kiel, Budapest and Tallinn. To achieve the objective, TOURBAN will share knowledge on sustainability strategies and the advantages of adopting sustainable solutions and practices, including EU/internationally recognised certificates and labels (e.g. EU Eco Label, EMAS) and circular economy models. These will be based on case studies and stories from SMEs and other frontrunners in sustainability.The project will share this practical knowledge through highly interactive training workshops and peer-to-peer sessions. Another core element of the project is cross-sector knowledge exchange and collaboration. In addition, more intensive support services will be delivered so that the tourism SMEs can effectively adopt sustainability strategies and seek additional financing. In this, financial support will be provided on the basis of a selection process under a competitive Call for Proposals launched by the Sustainable Urban Tourism Acceleration Programme. In this action, TOURBAN will engage around 70 SMEs from 7 different countries (NL, ES, DK, HR, DE, HU and EE) in a 12-month programme. To drive successful outcomes, the partnership gathers expertise in a wide range of topics related to tourism sustainability and can draw on years of practical experience in incubation, acceleration and SME developmentPartners:Breda University of Applied Sciences (Breda - The Netherlands), Barcelona Chamber of Commerce (Barcelona - Spain), B. Link Barcelona Strategic Projects (Barcelona - Spain), The Institute for Tourism Research in Northern Europe (Kiel - Germany), Estonian Chamber of Commerce and Industry (Tallinn - Estonia), City of Dubrovnik Development Agency (Dubrovnik - Croatia), Creative Business Network (Copenhagen - Denmark), VIMOSZ Hungarian Hospitality Employers’ Association (Budapest - Hungary).
