The article provides an attempt to answer the question to what extent, under conditions of the Belorussian economy, Polish experience can be used within the scope of development and trends in activities of the sector of small and medium-sized enterprises. This question is essential inasmuch as this sector is especially significant for the economic development processes so that an appropriate policy towards the sector in question can contribute to acceleration in economic growth and, at the same time, it can help to meet social and economic challenges, e.g. of providing new jobs for people and promoting resourcefulness in society. The authors present the level of development of small and medium-sized enterprises in Belarus. Basing themselves on the Polish example they highlight both the advantages and possible threats that may result from that potential. The main threat can be low stability of this sector in Poland reflected by high percentage of enterprises which had withdrawn from business.
This paper deals with the issue of financial strategy formulation and available models of financial strategy with a focus on e-commerce. The paper aims at using the financial strategy model to assess current financial strategy for enterprises primarily oriented towards electronic commerce and to propose the optimum financial strategy for this area of business. The research used selected methods of financial analysis (liquidity, profitability, indebtedness, activity) to evaluate current financial standing of a selected sample of enterprises. The results of the financial analysis were used for building of a model of financial strategy in Vensim program. The model, based on selected financial indicators, identifies current financial strategies of enterprises and designs the optimum financial strategy using the principle of dynamics and proposes its development for long-term progress of the enterprise. The financial strategy model is also applicable to e-commerce.
The aim of the article is to investigate evidence for a relationship between the size of Polish firms and their reaction to the 2008–2009 slowdown. The method is based on a statistical comparison of different size firms measured with employment, using data collected in a sample of 100 companies. Data was obtained in a telephone survey representing a broad range of activities, ages and markets served. A review of other Polish research as well as a summary of macroeconomic conditions in the years 2008–2009 is presented as an introduction. The results show a comparison between three categories of firms (micro, small, medium) in a few areas. The analysis covers topics such as: temporal aspects, outcomes in various routines of the companies, the impact of external factors and methods of coping. Factor analysis was employed to reduce the multidimensionality of the problems researched. The results show that the vast majority of surveyed firms experienced slowdown effects and that the observed impact depends on employed indicators and firm size. The smallest firms had more problems maintaining liquidity and obtaining adequate financing. Such companies experienced competitive pressure from the shadow economy more deeply. Tiny differences were found as to the perception of changes in the environment. Company size is also a weak indicator of the way in which firms reacted to the effects of slowdown.
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