IntroductionAccording to The Price Group (2007), 7 out of 10 small business owners know their cor... more IntroductionAccording to The Price Group (2007), 7 out of 10 small business owners know their core market but less than 5 percent have a formal marketing plan. Further, 90 percent waste their money on a "shotgun" approach to marketing while 99 percent fail to adequately fund their marketing efforts. Price goes on to state, "By looking at the allocations to budgets it becomes clear that many business owners are confused about what really constitutes marketing [while], their reluctance to fund a wellplanned, consistent marketing efforts often leaves them without the income they counted on." (p. 10)Understanding how small businesses use marketing communication is an important area for practitioners and scholars to consider. In a recent study Bell, Parker, Hendon and Marks (2006) attempted to gain an understanding of how small business owners dealt with issues relating to certain aspects of integrated marketing communications, particularly advertising and public rela...
In this paper, the authors will discuss the results of a recent survey analyzing financing option... more In this paper, the authors will discuss the results of a recent survey analyzing financing options for small businesses, owners attitudes toward different financing options, and difficulties encountered in gaining such financing for growth. This study sought to address two primary aspects of financing within small businesses – availability/use of outside debt or equity funds, and owner attitudes toward various funding options. The survey instrument was administered to businesses in the Arkansas Small Business Development Center (ASBDC) data base. Selected results from the survey will be presented in this paper.
PART I. 21st Century Human Resource Management Strategic Planning and Legal Issues Chapter 1. The... more PART I. 21st Century Human Resource Management Strategic Planning and Legal Issues Chapter 1. The New Human Resource Management Process Chapter 2. Strategy Driven Human Resource Management Chapter 3. The Legal Environment and Diversity Management PART II. Staffing Chapter 4. Matching Employees and Jobs Chapter 5. Recruiting Job Candidates Chapter 6. Selecting New Employees PART III. Developing and Managing Chapter 7. Training, Learning, Talent Management and Development Chapter 8. Performance Management and Appraisal Chapter 9. Rights and Employee Development PART IV. Compensating and Protecting Chapter 10. Employee and Labor Relations Chapter 11. Compensation Management Chapter 12. Variable/Incentive Pay Chapter 13. Benefits Chapter 14. Safety and Health and Workplace Security
Many states are issuing tax credits for qualifying angel investments in order to encourage econom... more Many states are issuing tax credits for qualifying angel investments in order to encourage economic growth and development. While this policy makes intuitive sense, there has been no systematic evaluation of the outcomes of these programs. This study is a first step toward empirically examining the effectiveness of angel investment tax credit programs. We utilize the Kauffman Entrepreneurial Activity Index as an outcome to measure the initial statewide impact of the introduction of angel tax credit programs. Initial results support the introduction of angel tax credit programs does increase entrepreneurial activity on a state level.
ABSTRACT The role of advertising in the course of entrepreneurial ventures is largely misundersto... more ABSTRACT The role of advertising in the course of entrepreneurial ventures is largely misunderstood by many academicians, practitioners and small business planners. Yet without a proper understanding of how entrepreneurs and small business owners view and use advertising, those who seek to study this area as well as those whose role in society is to advise and guide those working to develop their own enterprises are navigating without a compass. This study seeks to address how small business owners in a mid-sized metropolitan area in a largely rural state view and use advertising in their ventures. By utilizing Internet-based surveys the researchers in this project seek to develop a greater understanding of how entrepreneurs and small business owners develop messages, understand target audiences and whether or not advertising is seen as a successful part of their businesses. INTRODUCTION Entrepreneurship and Advertising are fields rich in theoretical research, case studies and other forms of scholarship, yet surprisingly little work exists in how these two areas are combined. In order to understand how advertising and entrepreneurship work together one must review literature in separate areas and consider the inclusion of research in retailing, marketing and other related disciplines. In a 2003 study about advertising and marketing behaviors in small business firms, Harris and Reece found that much literature exists regarding competitive advantage. Yet, despite the wealth of knowledge on this topic, it was "not clear whether small businesses are engaging in marketing and advertising planning" (Harris and Reece, 2003). A study in the Journal of Small Business Management found that in fact very little planning of any kind goes into small business activities, yet those who do some amount of planning are less likely to fail (Perry, 2001). For small businesses to succeed some marketing activities must take place. Small firms can gain advantage over the obstacles to success through the use of appropriate planning activities (Harris and Reece, 2003). One potential reason for the reluctance of some small business owners to engage in any type of advertising may be the perception that advertising clutter could negatively impact their businesses. Ha and Litman found that while there was in fact a negative correlation with advertising clutter the effects were limited to certain vehicles within distinctive advertising media (Ha and Litman, 1997). Other studies (e.g. Lohse, 1997) suggest that the way ads are designed will impact how consumers pay attention to them. Yet one thing is abundantly clear: businesses that fail to engage in some form of marketing to promote their businesses will eventually fail. While some entrepreneurs may feel that money spent on advertising is wasted, evidence shows that consumers often value advertising that is believable, credible and ethical (Ducoffe, 1995). Given that many entrepreneurs are ethical individuals who wish only to succeed in their business ventures, advertising that is seen as good (believable, credible and ethical) would seem to be an important element in small business strategy. One growing enterprise among entrepreneurs is in the area of service retailing. Given the number of individuals starting businesses that offer services over goods, advertising will be an essential key to the success of those types of businesses. In their 1995 study Stafford and Day found that advertising which is both informative and rational works best for service retail firms; but how many business owners specializing in this area are aware of this? Many experts acknowledge the fact that the greatest marketing challenge facing small business owners is limited resources for effective advertising (Lipput, 1995; Harris and Reece, 2003). Other experts (e.g. McCarthy, 1999) suggest that effectively written and placed advertisements will have a positive effect on business growth. …
Many states are issuing tax credits for qualifying angel investments in order to encourage econom... more Many states are issuing tax credits for qualifying angel investments in order to encourage economic growth and development. While this policy makes intuitive sense, there has been no systematic evaluation of the outcomes of these programs. This study is a first step toward empirically examining the effectiveness of angel investment tax credit programs. We utilize the Kauffman Entrepreneurial Activity Index as an outcome to measure the initial statewide impact of the introduction of angel tax credit programs. Initial results support the introduction of angel tax credit programs does increase entrepreneurial activity on a state level.
Journal of Entrepreneurship and Public Policy, 2012
Purpose-Over the past decade more than 20 states have begun to offer tax credits to angel investo... more Purpose-Over the past decade more than 20 states have begun to offer tax credits to angel investors in an attempt to increase state economic growth. These credits are intended to increase new venture investment, create high-paying and knowledge-based jobs, and increase tax revenue collections, but there is some debate over costs and benefits associated with these credits. This paper aims to investigate this issue. Design/methodology/approach-This paper will examine the implementation and perceived effectiveness of tax credit programs in Hawaii, Louisiana, Wisconsin, Minnesota, Oregon, and Vermont. These states were chosen for this research sample based on their differing physical locations within the USA and the uniqueness of the characteristics of each state's chosen tax credit program. Findings-The paper reveals that state investment tax credit programs vary widely in areas of eligibility, level of funding available per investment and per year, and whether or not the credits are refundable. All of these factors can cause significant variability in effectiveness of a state program. Practical implications-Recommended criteria for achieving an outcome that may result in lawmaker support for tax credit incentives will be outlined based on the success, trial, and error of various state programs. These criteria will allow some commonality in analysis of potential or ongoing incentive programs. Originality/value-This paper provides an analysis of the various existing state investment tax credit programs and identifies characteristics of such programs that may, if used during program formation, result in greater confidence by lawmakers in the program's overall effectiveness and provide a greater commitment to program success.
This paper discusses the results of a statistical analysis of gender differences identified from ... more This paper discusses the results of a statistical analysis of gender differences identified from a recent survey analyzing financing options for small businesses, owners attitudes toward different financing options, and real or perceived difficulties encountered in gaining financing for growth. The survey instrument was designed to address two primary aspects of financing within small businesses – availability/use of outside debt or equity funds, and owner attitudes toward various funding options. The instrument was administered to businesses in the Arkansas Small Business and Technology Development Center (ASBTDC) data base. Selected results of the statistical analysis will be presented in this paper.
This paper discusses the results of a statistical analysis of gender differences identified from ... more This paper discusses the results of a statistical analysis of gender differences identified from a recent survey analyzing financing options for small businesses, owners attitudes toward different financing options, and real or perceived difficulties encountered in gaining financing for growth.
... ARKANSAS SBDC CLIENT COMPANIES Joe Bell, University of Arkansas Little Rock John Hendon, Univ... more ... ARKANSAS SBDC CLIENT COMPANIES Joe Bell, University of Arkansas Little Rock John Hendon, University of Arkansas Little Rock James Atkinson, University ... Moderately in line with Cassar's (Cassar, 2003) findings of 40.2%, the mean of responses to this question was 35.8 ...
IntroductionAccording to The Price Group (2007), 7 out of 10 small business owners know their cor... more IntroductionAccording to The Price Group (2007), 7 out of 10 small business owners know their core market but less than 5 percent have a formal marketing plan. Further, 90 percent waste their money on a "shotgun" approach to marketing while 99 percent fail to adequately fund their marketing efforts. Price goes on to state, "By looking at the allocations to budgets it becomes clear that many business owners are confused about what really constitutes marketing [while], their reluctance to fund a wellplanned, consistent marketing efforts often leaves them without the income they counted on." (p. 10)Understanding how small businesses use marketing communication is an important area for practitioners and scholars to consider. In a recent study Bell, Parker, Hendon and Marks (2006) attempted to gain an understanding of how small business owners dealt with issues relating to certain aspects of integrated marketing communications, particularly advertising and public rela...
In this paper, the authors will discuss the results of a recent survey analyzing financing option... more In this paper, the authors will discuss the results of a recent survey analyzing financing options for small businesses, owners attitudes toward different financing options, and difficulties encountered in gaining such financing for growth. This study sought to address two primary aspects of financing within small businesses – availability/use of outside debt or equity funds, and owner attitudes toward various funding options. The survey instrument was administered to businesses in the Arkansas Small Business Development Center (ASBDC) data base. Selected results from the survey will be presented in this paper.
PART I. 21st Century Human Resource Management Strategic Planning and Legal Issues Chapter 1. The... more PART I. 21st Century Human Resource Management Strategic Planning and Legal Issues Chapter 1. The New Human Resource Management Process Chapter 2. Strategy Driven Human Resource Management Chapter 3. The Legal Environment and Diversity Management PART II. Staffing Chapter 4. Matching Employees and Jobs Chapter 5. Recruiting Job Candidates Chapter 6. Selecting New Employees PART III. Developing and Managing Chapter 7. Training, Learning, Talent Management and Development Chapter 8. Performance Management and Appraisal Chapter 9. Rights and Employee Development PART IV. Compensating and Protecting Chapter 10. Employee and Labor Relations Chapter 11. Compensation Management Chapter 12. Variable/Incentive Pay Chapter 13. Benefits Chapter 14. Safety and Health and Workplace Security
Many states are issuing tax credits for qualifying angel investments in order to encourage econom... more Many states are issuing tax credits for qualifying angel investments in order to encourage economic growth and development. While this policy makes intuitive sense, there has been no systematic evaluation of the outcomes of these programs. This study is a first step toward empirically examining the effectiveness of angel investment tax credit programs. We utilize the Kauffman Entrepreneurial Activity Index as an outcome to measure the initial statewide impact of the introduction of angel tax credit programs. Initial results support the introduction of angel tax credit programs does increase entrepreneurial activity on a state level.
ABSTRACT The role of advertising in the course of entrepreneurial ventures is largely misundersto... more ABSTRACT The role of advertising in the course of entrepreneurial ventures is largely misunderstood by many academicians, practitioners and small business planners. Yet without a proper understanding of how entrepreneurs and small business owners view and use advertising, those who seek to study this area as well as those whose role in society is to advise and guide those working to develop their own enterprises are navigating without a compass. This study seeks to address how small business owners in a mid-sized metropolitan area in a largely rural state view and use advertising in their ventures. By utilizing Internet-based surveys the researchers in this project seek to develop a greater understanding of how entrepreneurs and small business owners develop messages, understand target audiences and whether or not advertising is seen as a successful part of their businesses. INTRODUCTION Entrepreneurship and Advertising are fields rich in theoretical research, case studies and other forms of scholarship, yet surprisingly little work exists in how these two areas are combined. In order to understand how advertising and entrepreneurship work together one must review literature in separate areas and consider the inclusion of research in retailing, marketing and other related disciplines. In a 2003 study about advertising and marketing behaviors in small business firms, Harris and Reece found that much literature exists regarding competitive advantage. Yet, despite the wealth of knowledge on this topic, it was "not clear whether small businesses are engaging in marketing and advertising planning" (Harris and Reece, 2003). A study in the Journal of Small Business Management found that in fact very little planning of any kind goes into small business activities, yet those who do some amount of planning are less likely to fail (Perry, 2001). For small businesses to succeed some marketing activities must take place. Small firms can gain advantage over the obstacles to success through the use of appropriate planning activities (Harris and Reece, 2003). One potential reason for the reluctance of some small business owners to engage in any type of advertising may be the perception that advertising clutter could negatively impact their businesses. Ha and Litman found that while there was in fact a negative correlation with advertising clutter the effects were limited to certain vehicles within distinctive advertising media (Ha and Litman, 1997). Other studies (e.g. Lohse, 1997) suggest that the way ads are designed will impact how consumers pay attention to them. Yet one thing is abundantly clear: businesses that fail to engage in some form of marketing to promote their businesses will eventually fail. While some entrepreneurs may feel that money spent on advertising is wasted, evidence shows that consumers often value advertising that is believable, credible and ethical (Ducoffe, 1995). Given that many entrepreneurs are ethical individuals who wish only to succeed in their business ventures, advertising that is seen as good (believable, credible and ethical) would seem to be an important element in small business strategy. One growing enterprise among entrepreneurs is in the area of service retailing. Given the number of individuals starting businesses that offer services over goods, advertising will be an essential key to the success of those types of businesses. In their 1995 study Stafford and Day found that advertising which is both informative and rational works best for service retail firms; but how many business owners specializing in this area are aware of this? Many experts acknowledge the fact that the greatest marketing challenge facing small business owners is limited resources for effective advertising (Lipput, 1995; Harris and Reece, 2003). Other experts (e.g. McCarthy, 1999) suggest that effectively written and placed advertisements will have a positive effect on business growth. …
Many states are issuing tax credits for qualifying angel investments in order to encourage econom... more Many states are issuing tax credits for qualifying angel investments in order to encourage economic growth and development. While this policy makes intuitive sense, there has been no systematic evaluation of the outcomes of these programs. This study is a first step toward empirically examining the effectiveness of angel investment tax credit programs. We utilize the Kauffman Entrepreneurial Activity Index as an outcome to measure the initial statewide impact of the introduction of angel tax credit programs. Initial results support the introduction of angel tax credit programs does increase entrepreneurial activity on a state level.
Journal of Entrepreneurship and Public Policy, 2012
Purpose-Over the past decade more than 20 states have begun to offer tax credits to angel investo... more Purpose-Over the past decade more than 20 states have begun to offer tax credits to angel investors in an attempt to increase state economic growth. These credits are intended to increase new venture investment, create high-paying and knowledge-based jobs, and increase tax revenue collections, but there is some debate over costs and benefits associated with these credits. This paper aims to investigate this issue. Design/methodology/approach-This paper will examine the implementation and perceived effectiveness of tax credit programs in Hawaii, Louisiana, Wisconsin, Minnesota, Oregon, and Vermont. These states were chosen for this research sample based on their differing physical locations within the USA and the uniqueness of the characteristics of each state's chosen tax credit program. Findings-The paper reveals that state investment tax credit programs vary widely in areas of eligibility, level of funding available per investment and per year, and whether or not the credits are refundable. All of these factors can cause significant variability in effectiveness of a state program. Practical implications-Recommended criteria for achieving an outcome that may result in lawmaker support for tax credit incentives will be outlined based on the success, trial, and error of various state programs. These criteria will allow some commonality in analysis of potential or ongoing incentive programs. Originality/value-This paper provides an analysis of the various existing state investment tax credit programs and identifies characteristics of such programs that may, if used during program formation, result in greater confidence by lawmakers in the program's overall effectiveness and provide a greater commitment to program success.
This paper discusses the results of a statistical analysis of gender differences identified from ... more This paper discusses the results of a statistical analysis of gender differences identified from a recent survey analyzing financing options for small businesses, owners attitudes toward different financing options, and real or perceived difficulties encountered in gaining financing for growth. The survey instrument was designed to address two primary aspects of financing within small businesses – availability/use of outside debt or equity funds, and owner attitudes toward various funding options. The instrument was administered to businesses in the Arkansas Small Business and Technology Development Center (ASBTDC) data base. Selected results of the statistical analysis will be presented in this paper.
This paper discusses the results of a statistical analysis of gender differences identified from ... more This paper discusses the results of a statistical analysis of gender differences identified from a recent survey analyzing financing options for small businesses, owners attitudes toward different financing options, and real or perceived difficulties encountered in gaining financing for growth.
... ARKANSAS SBDC CLIENT COMPANIES Joe Bell, University of Arkansas Little Rock John Hendon, Univ... more ... ARKANSAS SBDC CLIENT COMPANIES Joe Bell, University of Arkansas Little Rock John Hendon, University of Arkansas Little Rock James Atkinson, University ... Moderately in line with Cassar's (Cassar, 2003) findings of 40.2%, the mean of responses to this question was 35.8 ...
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