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1 – 5 of 5Muhammad Shahrul Ifwat Ishak and Nur Syahirah Mohammad Nasir
The purpose of this study is to analyse potential models of Islamic crowdfunding as an alternative financing option for micro-entrepreneurs in Malaysia. While crowdfunding has…
Abstract
Purpose
The purpose of this study is to analyse potential models of Islamic crowdfunding as an alternative financing option for micro-entrepreneurs in Malaysia. While crowdfunding has gained traction as an alternative funding source for businesses, it is unclear how far this concept can benefit a group of micro-entrepreneurs in Malaysia.
Design/methodology/approach
This study uses a qualitative research approach by using data collected through semi-structured interviews with several experts and practitioners in crowdfunding, Shariah and entrepreneurship. Prior to discussing the facets of the findings, the data were analysed based on a thematic approach.
Findings
The findings reveal that while previous works of related literature suggest crowdfunding as a viable alternative financing option for entrepreneurs and their businesses, in reality, its practical implementation presents challenges. Numerous micro-entrepreneurs need more training in the areas of management and marketing. Such concerns raise questions about their ability to attract potential project backers. With the proper selection of Shariah contracts and several approaches to risk management, Islamic crowdfunding can potentially become an alternative funding source for microbusinesses.
Research limitations/implications
Given the exploratory nature of this study regarding the applicability of Islamic crowdfunding as an alternative fund for micro-entrepreneurs, its findings may not fully encompass Malaysia’s context because of the limited number of participants involved.
Practical implications
The findings of this study offer guidelines on how to implement Islamic crowdfunding for micro-entrepreneurs. Consequently, Islamic crowdfunding has the potential to alleviate the government’s burden of providing funds for micro-enterprises and enhance their skills and mentality to be more independent, creative and able to promote their products.
Social implications
While Islamic crowdfunding can be an alternative opportunity for business enterprises and community-based projects, it promotes the spirit of cooperation and collaboration within society.
Originality/value
Although Islamic crowdfunding is a topic that has been discussed previously, empirical investigations in this area remain scarce, mainly through qualitative approaches. Distinguishing from prior literature, this study analyses several potential models of Islamic crowdfunding from the perspectives of experts, practitioners and related agencies for micro-entrepreneurs. Moreover, this study bridges insights from related literature so that they offer practical applications to support micro-entrepreneurs in Malaysia.
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Aimatul Yumna, Joan Marta and Ramel Yanuarta Re
The purpose of this study was to evaluate the impact of a waqf-based microfinance program on clients’ well-being during the COVID-19 pandemic.
Abstract
Purpose
The purpose of this study was to evaluate the impact of a waqf-based microfinance program on clients’ well-being during the COVID-19 pandemic.
Design/methodology/approach
This study obtained primary data from a survey distributed to 282 respondents, consisting of 150 clients and 132 nonclients of the Bank Wakaf Mikro (BWM) Al Kausar in Indonesia. This study constructed a well-being index (WBI) and compared clients’ and nonclients’ WBI before and during the pandemic using the difference-in-differences (DID) method. DID measures the effect of a treatment in a “treatment group” versus a “control group” using data from two periods.
Findings
This study found that clients and nonclients alike experienced an increase in well-being throughout the pandemic, but the increase was greater for clients than for nonclients. This study argues that the waqf-based microfinance program run by Bank Waqf Mikro model can assist their clients – as more vulnerable groups in society – to maintain their well-being during the pandemic.
Research limitations/implications
To ensure the effectiveness of waqf-based microfinance programs in diverse settings, this study should include more respondents from different institutions.
Practical implications
This research has several practical recommendations, particularly for integrating Islamic charity for microfinance. The findings of this study suggest that the BWM model, which combines three institutions – the government, zakat groups and Islamic boarding schools (pesantrens) – can play a substantial role in enhancing the welfare of its members during the pandemic.
Originality/value
This study contributes to the body of knowledge on Islamic microfinance by providing empirical evidence of the importance of waqf-based microfinance in reducing the pandemic’s impact on clients well-being.
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Alejandro Rodriguez-Vahos, Sebastian Aparicio and David Urbano
A debate on whether new ventures should be supported with public funding is taking place. Adopting a position on this discussion requires rigorous assessments of implemented…
Abstract
Purpose
A debate on whether new ventures should be supported with public funding is taking place. Adopting a position on this discussion requires rigorous assessments of implemented programs. However, the few existing efforts have mostly focused on regional cases in developed countries. To fill this gap, this paper aims to measure the effects of a regional acceleration program in a developing country (Medellin, Colombia).
Design/methodology/approach
The economic notion of capabilities is used to frame the analysis of firm characteristics and productivity, which are hypothesized to be heterogeneous within the program. To test these relationships, propensity score matching is used in a sample of 60 treatment and 16,994 control firms.
Findings
This paper finds that treated firms had higher revenue than propensity score-matched controls on average, confirming a positive impact on growth measures. However, such financial growth is mostly observed in service firms rather than other economic sectors.
Research limitations/implications
Further evaluations, with a longer period and using more outcome variables, are suggested in the context of similar publicly funded programs in developing countries.
Originality/value
These findings tip the balance in favor of the literature suggesting supportive programs for high-growth firms as opposed to everyday entrepreneurship. This is an insight, especially under the context of an emerging economy, which has scarce funding to support entrepreneurship.
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Dan Jin and Bingjie Liu-Lastres
This paper aims to provide a critical reflection on the impact of the gig economy on the hospitality workforce. The impact of the gig economy on hospitality workforce management…
Abstract
Purpose
This paper aims to provide a critical reflection on the impact of the gig economy on the hospitality workforce. The impact of the gig economy on hospitality workforce management is explored, with the paper delving into both theoretical insights and practical implications.
Design/methodology/approach
This paper offers reflections on the emerging trend of the gig economy and its impacts on the hospitality workforce, based on evidence collected from the selected literature, industry report and authors’ personal reflections. A micro-meso-macro analytical framework was also applied to assist authors in building the arguments and propositions.
Findings
The findings not only revealed the impacts of the gig economy on the hospitality workforce at micro-meso-macro levels but also underscored its close relationships with various concepts in the hospitality management literature. Both future research directions and practical implications are provided.
Practical implications
Amid the gig economy’s transformative influence, stakeholders must continually innovate for an empowering and secure work environment. A holistic approach is necessary to establish a harmonious gig ecosystem, ensuring fair treatment, benefits and protection for workers while fostering growth and well-being.
Originality/value
Throughout the paper, a critical reflection on the impact of the gig economy on the hospitality workforce is presented, along with suggestions for coping with current labor issues in hospitality and tourism. Future research directions are outlined.
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Hassan Jamil, Tanveer Zia, Tahmid Nayeem, Monica T. Whitty and Steven D'Alessandro
The current advancements in technologies and the internet industry provide users with many innovative digital devices for entertainment, communication and trade. However…
Abstract
Purpose
The current advancements in technologies and the internet industry provide users with many innovative digital devices for entertainment, communication and trade. However, simultaneous development and the rising sophistication of cybercrimes bring new challenges. Micro businesses use technology like how people use it at home, but face higher cyber risks during riskier transactions, with human error playing a significant role. Moreover, information security researchers have often studied individuals’ adherence to compliance behaviour in response to cyber threats. The study aims to examine the protection motivation theory (PMT)-based model to understand individuals’ tendency to adopt secure behaviours.
Design/methodology/approach
The study focuses on Australian micro businesses since they are more susceptible to cyberattacks due to the least security measures in place. Out of 877 questionnaires distributed online to Australian micro business owners through survey panel provider “Dynata,” 502 (N = 502) complete responses were included. Structural equational modelling was used to analyse the relationships among the variables.
Findings
The results indicate that all constructs of the protection motivation, except threat susceptibility, successfully predict the user protective behaviours. Also, increased cybersecurity costs negatively impact users’ safe cyber practices.
Originality/value
The study has critical implications for understanding micro business owners’ cyber security behaviours. The study contributes to the current knowledge of cyber security in micro businesses through the lens of PMT.
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