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  THE IMPACT OF TAXATION ON INVESTMENT FINANCING: THE CASE OF MOROCCAN SMALL AND MEDIUM-SIZED ENTERPRISES

  Small and medium-sized enterprises (SMEs) are pivotal to investment, employment, and economic growth in developing economies. However, their financing decisions are often influenced by complex tax environments that can either encourage or hinder investment. This study investigates the impact of taxation on the investment financing decisions of ... Small and medium-sized enterprises (SMEs) are pivotal to investment, employment, and economic growth in developing economies. However, their financing decisions are often influenced by complex tax environments that can either encourage or hinder investment. This study investigates the impact of taxation on the investment financing decisions of Moroccan SMEs, focusing on three fiscal dimensions: tax pressure, fiscal incentives, and the tax treatment of financing modes. A quantitative survey was conducted between March 2024 and October 2024 among 390 SMEs operating in various sectors across Morocco. Data were collected through a structured questionnaire and analyzed using partial least squares structural equation modeling (PLS-SEM). The findings show that all three tax-related factors significantly and positively affect financing decisions, with fiscal incentives and tax treatment exerting the strongest influence. These results emphasize the strategic role of tax policy in shaping SME financial behavior and offer actionable insights for policymakers aiming to enhance private sector investment and support SME development.

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  IMPACT OF BUSINESS INTELLIGENCE ON THE ECONOMIC GROWTH OF SMALL AND MEDIUM-SIZED ENTERPRISES (SMES): EVIDENCE FROM THE LIMA PLAZA CASE

  In a context where digital transformation is a strategic challenge for the sustainability of small and medium-sized enterprises (SMEs), business intelligence (BI) emerges as a key factor in improving decision-making and fostering competitive advantages. This study analyzed the relationship between the implementation of BI solutions and business ... In a context where digital transformation is a strategic challenge for the sustainability of small and medium-sized enterprises (SMEs), business intelligence (BI) emerges as a key factor in improving decision-making and fostering competitive advantages. This study analyzed the relationship between the implementation of BI solutions and business growth in 525 SMEs located in Lima, Peru. A quantitative, applied, and experimental methodology was used with descriptive and inferential analysis (Spearman Rho and Wilcoxon tests). The results reveal a strong positive correlation (Rho = 0.775, p < 0.01) between BI adoption and SME growth. Limitations include the geographic concentration of the sample, which may affect generalizations to other areas of the country. Nevertheless, the findings contribute to the literature by offering empirical evidence of the real-world effects of BI tools in emerging business environments and suggest that digital capabilities should be promoted in micro and small enterprises. Future research is encouraged to expand the scope to other economic sectors and regions.

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  COMMUNICATION FOR THE IMPORTANCE OF THE CREATION AND INTRODUCTION OF INNOVATION IN BULGARIAN SMALL AND MEDIUM ENTERPRISES

  Innovation is becoming an imperative for modern business organizations that want to increase the sustainability of their competitive performance. Communication about the importance of innovation is critical to minimizing stakeholder resistance to innovation endeavors and the perception of the need to implement them. Innovations are also directly ... Innovation is becoming an imperative for modern business organizations that want to increase the sustainability of their competitive performance. Communication about the importance of innovation is critical to minimizing stakeholder resistance to innovation endeavors and the perception of the need to implement them. Innovations are also directly related to the partnerships implemented by organizations, corporate culture, and knowledge management. Understanding the importance of professionally executed corporate communications is critical. The communication practices for promoting innovation activity are presented based on an empirical study among 350 Bulgarian enterprises. The study examines how communications are implemented in Bulgarian small and medium-sized enterprises, the innovations they implement, and the relationship of corporate culture with company competitive performance. Relevant conclusions and recommendations have been made.