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The Impact That Cryptocurrencies Have On The Profitability Of Small Businesses

Author

Listed:
  • Ibrahim M. I. KHARIS

    (PhD student, Doctoral School of Economics and International Business, The Bucharest University of Economic Studies (ASE București), Bucharest, Romania)

  • Adriana GIURGIU

    (Doctoral School of Economics and International Business, The Bucharest University of Economic Studies (ASE București), Bucharest, Romania; Department of International Business, Faculty of Economic Sciences, University of Oradea, Oradea, Romania)

Abstract

In the global financial environment, cryptocurrencies have become a disruptive force that offers possibilities as well as problems for firms in numerous industries. The incorporation of cryptocurrencies into small businesses’ operations has gained more attention in recent years as a way to boost their profitability. This study paper intends to provide a thorough examination of the effects of cryptocurrencies on the profitability of small businesses, illuminating the numerous aspects and ramifications of cryptocurrency adoption, but also emphasizing its consequences for the financial performance of small firms, with the aim to fill the knowledge vacuum, as well as to provide insights into the potential and constraints connected with cryptocurrencies in the small company environment by examining revenue generation, cost management, financial transactions, and market growth. For a number of reasons, it is essential to comprehend how cryptocurrencies affect the profitability of small businesses, and in order to accomplish the goals of this study, a thorough analysis of the body of literature will be done, looking at empirical research, case studies, and theoretical frameworks pertaining to the effect of cryptocurrencies on small company profitability. This research study seeks to provide a comprehensive grasp of the topic by combining the existing information. In order to learn more about small company owners’ experiences, difficulties, and possibilities related to bitcoin adoption, as the main cryptocurrency so far, primary data were gathered via surveys or interviews among them. The study adds to the body of information already available and provide useful advice, as well as shared practical experience for academics, policymakers, and small company owners who are interested in learning about the effects of bitcoin integration on small business profitability.

Suggested Citation

  • Ibrahim M. I. KHARIS & Adriana GIURGIU, 2023. "The Impact That Cryptocurrencies Have On The Profitability Of Small Businesses," Annals of Faculty of Economics, University of Oradea, Faculty of Economics, vol. 32(1), pages 470-478, July.
    • Handle: RePEc:ora:journl:v:32:y:2023:i:1:p:470-478
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    More about this item

    Keywords

    Cryptocurrencies; Small businesses Profitability; Financial environment; Cryptocurrency adoption Customer base; Transaction costs.;
    All these keywords.

    JEL classification:

    • B52 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Historical; Institutional; Evolutionary; Modern Monetary Theory;
    • E42 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Monetary Sytsems; Standards; Regimes; Government and the Monetary System
    • E44 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Financial Markets and the Macroeconomy
    • E50 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - General
    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • F39 - International Economics - - International Finance - - - Other
    • L25 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Firm Performance
    • M16 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - International Business Administration
    • M21 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Economics - - - Business Economics
    • N20 - Economic History - - Financial Markets and Institutions - - - General, International, or Comparative
    • P43 - Political Economy and Comparative Economic Systems - - Other Economic Systems - - - Finance; Public Finance

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