ارائه الگویی برای تحلیل موانع تأمین مالی تولید در کسب و کارهای کوچک و متوسط (مقاله پژوهشی دانشگاه آزاد)
درجه علمی: علمی-پژوهشی (دانشگاه آزاد)
آرشیو
چکیده
هدف: این پژوهش با هدف ارائه الگویی برای تحلیل موانع تأمین مالی تولید در کسب وکارهای کوچک و متوسط انجام شده است.روش : این پژوهش با رویکرد کیفی، گردآوری داده ها را از طریق روش فراترکیب سندلوسکی و بارسو انجام داده است. این روش با بررسی نظام مند 23 مقاله مرتبط با هدف پژوهش از بین 282 مقاله ابتدایی انجام شده است. مقاله های نهایی براساس معیارهای ورود به پژوهش انتخاب شده اند. روایی پژوهش براساس معیارها، برگزاری جلسات با اعضای تیم پژوهش، استفاده از کارشناس و ممیزی کل فرایند برای اجماع نظری تأیید شده و پایایی آن نیز ازطریق برنامه مهارت های ارزیابی انتقادی مشخص شده است.یافته ها: بر اساس یافته ها، 57 شناسه در قالب 10 بُعد اصلی به عنوان موانع تأمین مالی تولید در کسب وکارهای کوچک و متوسط شناسایی شده است که عبارتند از: زیرساخت های مالی و دسترسی، محیط قانونی و پیامدهای سیاسی، نبود تقارن و شفافیت اطلاعات، الزامات وثیقه و تأمین مالی مبتنی بر دارایی، شرایط و ضوابط وام، ارزیابی اعتبار و درک ریسک، پویایی بازار و رقابت، پیشرفت های فناوری و دیجیتالی شدن، عوامل اجتماعی و اقتصادی و نابرابری های منطقه ای و فرآیند ها و نوآوری های تأمین مالی جایگزین.نوآوری: در این پژوهش از روش فراترکیب برای ادغام و تجزیه و تحلیل مبانی موانع تأمین مالی کسب وکارهای کوچک و متوسط استفاده و چارچوب ساختاریافته ای برای درک و توجه به این مسائل ارائه شده است. با ترکیب دیدگاه های متنوع و شواهد تجربی، این پژوهش به پیشبرد گفتمان های علمی و راهبردهای عملی برای حمایت از کسب وکارهای کوچک و متوسط در دسترسی به منابع مالی تولید و پیش برد توسعه اقتصادی کمک می کند.A Model for Analyzing Barriers to Production Financing in Small and Medium Enterprises (SMEs)
This study adopted a qualitative approach to investigate the obstacles faced by Small and Medium-sized Enterprises (SMEs) in financing for their production activities. Through the utilization of the meta-synthesis method and a comprehensive review of 23 relevant articles, this research identified 57 factors categorized into 10 key dimensions that acted as barriers to financing. These dimensions encompassed aspects, such as financial infrastructure and accessibility, legal framework and political implications, information asymmetry and transparency, collateral requirements, asset-based financing, loan terms and conditions, credit assessment and risk perception, market dynamics and competition, technology advancements and digitalization, social and economic factors, regional inequalities, financing mechanisms, and innovations. By presenting a structured framework, this research aimed to enhance the comprehension of these challenges and provide potential solutions.Keywords: Financial Barriers to Business, Financial Barriers to Production, Business Financing, Small and Medium Businesses, Meta-Synthesis. IntroductionIn today's intricate global economic landscape, Small and Medium-sized Enterprises (SMEs) represent thriving sectors characterized by their innovation, dynamism, and growth potential. These enterprises often hailed as the backbone of economies worldwide play a pivotal role in driving economic development, generating employment opportunities, and fostering technological advancements. However, despite their significant contributions, SMEs encounter a myriad of formidable challenges that impede their prosperity and hinder their optimal contribution to economic progress. From legal obligations and market competition to resource constraints and technological barriers, these businesses navigate a complex environment fraught with obstacles. Among the various hurdles they face, one of the most prominent one pertains to production financing, wherein SMEs encounter difficulties in accessing capital and securing adequate financial resources. Such barriers manifest in the form of stringent lending criteria imposed by financial institutions, information asymmetry and lack of transparency, restrictions on collateral, and exorbitant transaction costs. Consequently, these enterprises grapple with limited budgetary options, thereby curtailing their growth prospects and impeding their capacity to innovate and compete in the market. This study endeavored to bridge the existing research gaps by conducting an in-depth examination of the barriers faced by SMEs in securing financing for production activities. The primary objective was to develop a comprehensive model for analyzing production financing barriers in small and medium-sized enterprises. Such a model can serve as a valuable tool for policymakers, financial institutions, industry associations, and entrepreneurs alike, empowering them to formulate effective strategies aimed at overcoming these obstacles. Materials & MethodsThis study adopted a qualitative approach following the methodology proposed by Sandelowski and Barso (2007) for data collection. The methodology consisted of 7 steps, which involved formulating research questions, conducting a systematic literature review, selecting relevant studies, extracting information from the chosen studies, analyzing and synthesizing the findings, ensuring quality control, and presenting the outcomes. To conduct a comprehensive search, reliable databases were systematically queried using relevant keywords and phrases, such as "small and medium businesses", "production financing", "financing barriers", and related terms. The search covered titles, abstracts, and keywords. Inclusion criteria were applied, including the selection of non-Persian qualitative papers published between 2014 and 2023 indexed in ISI or Scopus, as well as valid Persian articles published between 2013 and 2014. Initially, 282 articles were identified and after a rigorous selection process, 23 articles were chosen for the final analysis. To ensure validity, entry criteria, team meetings, expert opinions, and EndNote software were employed. Reliability was determined by critically evaluating and scoring the articles. Parameters, such as authors, publication year, research purpose, methodology, and findings, were considered during the evaluation process. Research FindingsCulmination of the meta-synthesis section yielded an analysis model illustrating the barriers to production financing in small and medium-sized businesses. Being presented in Figure 1, this model encompassed the key findings of the research. Discussion & ConclusionThis study explored the financing challenges faced by small and medium-sized enterprises using a hybrid approach and identified 57 indicators across 10 key dimensions that acted as barriers to financing. The dimension of "financial infrastructure and access" encompassed challenges related to accessing financial institutions, banking services, and venture capital. Additionally, the study examined microfinance as an alternative avenue with its own possibilities and challenges. In the dimension of "legal environment and political consequences", barriers, such as legal transparency, compliance, administrative ease, and government support programs were discussed as they impacted the performance of SMEs. The dimension of "information asymmetry and transparency" focused on challenges related to accessing information, transparency in lending practices, and disclosure requirements. The dimension of "collateral requirements and asset-based financing" addressed the complexities and challenges of evaluating and accepting collateral from SMEs, including collateral policies, asset valuation methods, loan-to-value ratios, and non-traditional collateral acceptance criteria, which often posed difficulties for businesses with limited assets. The dimension of "loan terms and conditions" highlighted the challenges that SMEs encountered when seeking financing, including issues related to interest rates, loan duration, flexibility of repayment terms, and collateral requirements. The dimension of "credit assessment and risk understanding" encompassed challenges, such as credit score assessment, financial statement analysis, business viability assessment, and understanding market and economic conditions. The dimension of "market dynamics and competition" explored the diverse effects of market dynamics on the access of SMEs to financing, including factors, such as market structure, competitive landscape, industry concentration, market entry barriers, and impact of new technologies. The dimension of "technology developments and digitization" examined how technology and digital advancements were reshaping the financing landscape for SMEs, including advancements in digital infrastructure, adoption of new financial technologies, and cybersecurity measures. The dimension of "economic and social factors and regional inequalities" addressed various challenges, including levels of economic development, income inequality, access to education, and infrastructure development. Lastly, the dimension of "alternative financing mechanisms and innovations" explored diverse avenues for SMEs to obtain financing. Peer-to-peer lending, crowdfunding platforms, and other innovative financing approaches provided these companies with new opportunities to raise capital and offer more flexible terms. In conclusion, this research shed light on the multifaceted barriers that SMEs faced in accessing financing. By comprehensively examining these dimensions, policymakers, financial institutions, and entrepreneurs could develop effective strategies to overcome these challenges and foster a more conducive environment for SMEs to thrive and contribute to economic growth.This study proposed recommendations for addressing the barriers that hindered the access of small and medium-sized businesses to production financing. The key recommendations included enhancing transparency and access to financial information, simplifying laws and improving tax transparency, implementing financial education programs to enhance financial literacy, fostering collaboration among the government, financial institutions, and industries to develop innovative financing solutions, investing in digital infrastructure and cybersecurity measures, and implementing supportive policies to reduce regional disparities. It is important to acknowledge the limitations of this research, such as its reliance on the existing literature, which may have implications for the quality and comprehensiveness of the studies reviewed. To gain a deeper understanding of financing trends and dynamics and devise appropriate interventions, it is recommended to undertake longitudinal, comparative, exploratory, and interdisciplinary research.
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