This research aims to analyze the impact of business counseling to SMEs to improve the business performance in terms of; entrepreneur's administration skills, sales and marketing, human resource competency and efficiency, technology financial capacity, financial recording and profitability.
You can use open innovation (counseling from costumers, suplliers, universities, etc) and measure its impact on your desirable variables.
You should first identify all those institutions that are responsible for business counselling in your country.Then measure the impact their counselling has on the main business areas like leadership, strategic planning,human resources, marketing, operations management, knowledge management and profitability. Cross sectional aspects like sustainability and innovation can also be assessed.
In India, NSIC and other government and non government agencies are educating entrepreneurs on various issues. For ex. digital payments, Mini tool room.
Today, it start resulting into fruitful ways. SMEs are turning around for such actions which they felt as cumbersome and risky task.
Similarly for ISO certification too. But its a continuous process, so government, LSE and society should do it with full zeal and enthusiasm.
As the primary focus of SMEs is in Skill Development and Employment Generation; the parameters related to these should be measured to calculate the impact. It could include Skills (imparted/developed), Entrepreneurship initiatives and Funds applied/granted from government schemes, variety of product/services offered. It can also include sales turnover, market share and gross margin increase as quantitative assessment is important.
You could try to find a relationship between the revenue of consulting companies and the revenue or profits of SME's, at a regional level. If SME's have better results in the regions where consultancies are also more active, there could be a connection you could investigate further. For this you would need acces to financial data companies in the countey you conduct your research in and you would need to be able to segment it based on company activity and location. See if the attached link helps.
http://www.amfiteatrueconomic.ro/ArticolRO.aspx?CodArticol=2487
Counselling is different than mentoring. I believe that SMEs need more mentoring especially with the tsunami of COVID-19
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