Posts Tagged ‘SMEs’
Have Financial Phobia?
With increasing levels of personal debt that is reported, along with a record number of bankruptcies and insolvencies, it is no surprise to anyone that money is becoming a major problem for thousands if not millions of people.
Most of us would be “money problems” with “problems of debt, and high levels of debt service made it a major cause of worry and stress for those of us who have given perhaps too much in the past.
There are other problems of money that does not get very much publicity. It’s called Financial Phobia, and is a real medical condition that causes untold problems for its victims.
Recent research has suggested that up to 20% of adults have total financial phobia, and almost half of the population show some signs of a milder version of the condition.
The victims have a hard time keeping track of their finances, including the ability to do simple things like open bank accounts because their feelings of anxiety, nausea, and even – in the worst case scenario – total panic attacks. They do not like check your bank balance, put off paying bills, and in extreme cases be avoided completely opening the mail and throw it away rather than deal with the content. Read the rest of this entry »
The Family Business and Strategic Planning
The world of small and medium enterprises (SMEs) is an area vaguely familiar to many people, especially for those who have responsibility for policy development support for the sector. There are myths that affect the decisions of these people, however, there is an even more worrying is that some small business owners keep their own myths, the greatest of these is that they believe that their problems are caused by the lack credit and sometimes even think it’s their only problem. Studies have shown that it is not, the problem lies mainly in poor management.
These same studies on SME problems frequently cited as: declining sales, declining profitability, late payments from customers, among others. Only half of the companies pursuing a strategy of specialization, which aims to strengthen or expand the market presence of its traditional products. The specialization strategy is more prevalent among SMEs with more than 500 employees. Read the rest of this entry »