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Finance
Management
The IUP Journal of Entrepreneurship Development

Jun'14
Articles

Efficacy of Networks for Entrepreneurs Raising Finance: A Qualitative Analysis

--Bin Jia and Robert A Phillips

This research provides a qualitative analysis of the efficacy of networks for entrepreneurs raising finance in the UK. The authors conducted interviews with eight entrepreneurs in North West England based on the three core components of entrepreneurial networks suggested by Hoang and Antoncic (2003)—contents, governance, and structure. It was found that, on the one hand, the importance of networks for entrepreneurs is widely acknowledged and entrepreneurs have a strong desire to get finance from investors with the help of entrepreneurial networks, while on the other hand, getting finance from networks is still dependent on ‘luck’ and it is quite hard to impress investors and gain funds from the network. The paper proposes a hypothesis for treating entrepreneurial networks as a kind of market for financing, and suggests constructive ways in which entrepreneurs can use networks to raise finance; and it also offers suggestions to improve network functions to help entrepreneurs gain funds.

© 2014 IUP. All Rights Reserved.

Perseverance Pays: The Effect of Venture Age on Indian Beekeeping Ventures

--Khushdeep Dharni and Deepak Goel

Rural entrepreneurship plays a vital role in rural development. The path of rural prosperity can be carved through the successful ventures in the rural areas. This paper explores the growth determinants of beekeeping ventures in India. For data collection, a pre-structured questionnaire was administered in the local language among the beekeepers in Punjab. Venture age is found to be positively related to the expansion of the beekeeping ventures. Expansion leads to a number of benefits in the long run, ranging from the scale of operations to lesser financial problems. Venture age is also found to be associated with the building of the brand for selling honey. The findings of the study offer value to academicians and policy makers for understanding the rural ventures in a better manner and planning interventions for the sustenance and promotion of the self-employment opportunities in the rural areas.

© 2014 IUP. All Rights Reserved.

Financial Problems of Microenterprises in Mizoram: Issues and Dimensions

--Lalhunthara and NVR Jyoti Kumar

Financial support and availability of credit are the most important considerations of microenterprises. The flow of institutional finance in Mizoram, a small tribal dominated state in North-East India, is very low. This paper, using a sample of 406 microenterprises in Aizawl District of Mizoram, examines the different dimensions of financial problems faced by them. High rate of interest is rated as the most serious problem, followed by meager assistance from government agencies, and red tapism in banks and government agencies. The findings emphasize the need for better coordination between the government and commercial banks in the interest of the survival and growth of microentrepreneurs who depend mostly on moneylenders, relatives and friends to meet their credit needs.

© 2014 IUP. All Rights Reserved.

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Automated Teller Machines (ATMs): The Changing Face of Banking in India

Bank Management
Information and communication technology has changed the way in which banks provide services to its customers. These days the customers are able to perform their routine banking transactions without even entering the bank premises. ATM is one such development in recent years, which provides remote banking services all over the world, including India. This paper analyzes the development of this self-service banking in India based on the secondary data.

The Information and Communication Technology (ICT) is playing a very important role in the progress and advancement in almost all walks of life. The deregulated environment has provided an opportunity to restructure the means and methods of delivery of services in many areas, including the banking sector. The ICT has been a focused issue in the past two decades in Indian banking. In fact, ICTs are enabling the banks to change the way in which they are functioning. Improved customer service has become very important for the very survival and growth of banking sector in the reforms era. The technological advancements, deregulations, and intense competition due to the entry of private sector and foreign banks have altered the face of banking from one of mere intermediation to one of provider of quick, efficient and customer-friendly services. With the introduction and adoption of ICT in the banking sector, the customers are fast moving away from the traditional branch banking system to the convenient and comfort of virtual banking. The most important virtual banking services are phone banking, mobile banking, Internet banking and ATM banking. These electronic channels have enhanced the delivery of banking services accurately and efficiently to the customers. The ATMs are an important part of a bank’s alternative channel to reach the customers, to showcase products and services and to create brand awareness. This is reflected in the increase in the number of ATMs all over the world. ATM is one of the most widely used remote banking services all over the world, including India. This paper analyzes the growth of ATMs of different bank groups in India.
International Scenario

If ATMs are largely available over geographically dispersed areas, the benefit from using an ATM will increase as customers will be able to access their bank accounts from any geographic location. This would imply that the value of an ATM network increases with the number of available ATM locations, and the value of a bank network to a customer will be determined in part by the final network size of the banking system. The statistical information on the growth of branches and ATM network in select countries.

Indian Scenario

The financial services industry in India has witnessed a phenomenal growth, diversification and specialization since the initiation of financial sector reforms in 1991. Greater customer orientation is the only way to retain customer loyalty and withstand competition in the liberalized world. In a market-driven strategy of development, customer preference is of paramount importance in any economy. Gone are the days when customers used to come to the doorsteps of banks. Now the banks are required to chase the customers; only those banks which are customercentric and extremely focused on the needs of their clients can succeed in their business today.

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