Small business, entrepreneurs, events, entrepreneurship day, starting a small business, applying for finance

The majority of companies listed on IDX are family companies, which have several advantages and disadvantages that affect firm performance. The results of previous studies on the influence of family firms are still inconsistent.

This study aims at determining the effect of family control as measured by family ownership and family involvement on the corporate performance; and describing the influence of internal control as performed by independent commissioner and audit committee on the performance of family firms with the control variables are firm size and firm age. The population of this study was all family companies listed on the Indonesia Stock Exchange (IDX). Meanwhile, the sample used was purposive sampling. There were 76 companies from the entire family companies listed on the Indonesian Stock Exchange (IDX) from 2010 to 2014 which met the criteria so that the overall observed data were 380.

The analysis tool used was a multiple linear regression. The results show that partially, family ownership, independent commissioner and the control variables, firm size and age, have a positive and significant impact on the firm performance. On the other hand, respectively, family involvement and audit committee have a significantly negative and insignificantly negative impact on the performance of the company.

1. Acts Online. 2013. Companies Act, 1973 (Act No. 61 of 1973). [Online] Available from: 
2. http://www.acts.co.za/companies-act-1973/index.html. [Accessed: 2016-02-19]. 
3. Agwa-Ejon, J.& Mbohwa, C. 2015. Financial challenges faced by SMMES in Gauteng South Africa. International association for management of technology. IAMOT 2015 conference proceedings. P520-534.
4. Bank Seta. Nd. Small and Micro-enterprises (SMEs). [Online] Available from:
5.  http://www.bankseta.org.za/downloads/Small_and_Micro_Enterprises_Brochure.pdf. [Downloaded: 2016-02-02]. 
6. Bureau of Economic research Report. The small, medium and Micro Enterprise sector of SA. Research note 2016: No 1. January 2016. Commissioned Research Project.
7. Business events: Essential tips for SMEs. Not dated. Business events: Essential tips for SMEs. [Online] Available from: 
8. www.gevme.com/blog/business-events-essential-tips-for-smes/. [Accessed:2016-11-09].
9. Business Partners Limited. 2013. SMEs: be aware of necessary legal compliance needs to avoid costly lawsuits. [Online] Available from: 
10. http://www.businesspartners.co.za/media-room/posts/smes-aware-necessary-legal-compliance-needs-avoid-costly-lawsuits-1479/. [Accessed: 2016-02-19]. 
11. Department of Small Business Development. 2015. Minister Lindiwe Zulu: Small Business Development Dept. Budget Vote 2015/16. [Online] Available from: http://www.gov.za/speeches/minister-lindiwe-zulu-small-business-development-dept-budget-vote-201516-20-may-2015-0000 [Accessed: 2016-01-02].
12. Entrepreneur’ toolkit. 2009. Small, micro and medium enterprises in South Africa. [Online] Available from: 
13. http://www.entrepreneurstoolkit.org/index.php?title=
14. small, _micro_and_medium_enterprises_in_South_Africa. [Accessed: 2016-02-02]. 
15. Habberton, G. & Notcutt, K. 2013. Unlocking the growth of SMEs and social businesses in South Africa. [Online] Available from: http://impacttrust.org.za/blog/unlocking-sme-and-social-business-growth-in-south-africa/. [Accessed: 2016-02-02]. 
16. SMME: Your connection to success. (/www.sme.org/events/ Accessed 9 November 2016)
17. Industrial Development Corporation. 2014. About IDC. [Online] Available from: 
18. http://www.idc.co.za/about-the-idc.html. [Accessed: 2016-02-09]. 
19. Infrastructure Dialogues. 2015. What is the role of infrastructure in government’s strategy to revitalise township economies. [Online] Available from:
20. http://www.infrastructuredialogue.co.za/dialogues/township-economies/ [Accessed: 2016-01-02].
21. IOL. 2014. Importance of SMMEs is big business for country. [Online] Available from: 
22. http://mini.iol.co.za/business/opinion/importance-of-smmes-is-big-business-for-country-1768670. [Accessed: 2016-01-31]. 
23. Katua, N.T. 2014. The role of SMEs in employment creation and economic growth in selected countries. International Journal of Education and research, Vol.2, No. 12. 
24. Marnewick, C. 2014. Information and communications technology adoption amongst township micro and small business: The case of Soweto. [Online] Available from: 
25. http://www.sajim.co.za/index.php/SAJIM/article/view/618/769. [Accessed: 2016-01-29]. 
26. Morongwa Makakane. 2014. Do SMMEs play a role in the South African Economy? [Online] Available from:
27.  http://morongwamakakane.co.za/smmes-play-role-south-african-economy/. [Accessed: 2016-02-02]. 
28. Ntingi, A. 2014. SMEs hold key to unlocking SA’s growth shackles. [Online] Available from: 
29. http://www.getbiz.co.za/index.php/biz-news/business-and-economy/24-smes-hold-key-to-unlocking-sa-s-growth-shackles. [Accessed: 2016-01-31]. 
30. Organisation for Economic Co-operation and Development (OECD). 2005. Glossary of statistical terms. [Online] Available from: https://stats.oecd.org/glossary/detail.asp?ID=3123. [Accessed: 2016-02-02].
31. Sanews.gov.za. 2014. More needs to be done for SMMEs. Thabethe. [Online] Available from: 
32. http://www.sanews.gov.za/south-africa/more-needs-be-done-smmes-thabethe. [Accessed: 2016-01-31]. 
33. Seda. Nd. Who are we? [Online] Available from: 
34. http://www.seda.org.za/AboutSEDA/Pages/WhoweAre.aspx. [Accessed: 2016-02-09]. 
35. Small business Academy research division. 2014. Khayelitsha small business project – Needs and challenges of small businesses in Khayelitsha.
36. SouthAfrica.info. No date. Boosting small businesses. [Online] Available from: 
37. http://www.southafrica.info/business/trends/newbusiness/smallbusiness.htm#.VsWx7fl97IU [Accessed 17 February 2016].
38. Staff writer. 2013. What SA’s SME landscape looks like. [Online] Available from: 
39. http://businesstech.co.za/news/banking/40721/what-sas-sme-landscape-looks-like/. [Accessed: 2016-02-02]. 
40. The Banking association South Africa. 2016. SME enterprise. [Online] Available from: 
41. http://www.banking.org.za/what-we-do/sme/sme-enterprise. [Accessed: 2016-02-02].
42. The department of Small business development.2015. Shared Economic Infrastructure Facility (SEIF). [Online] Available from: http://www.dsbd.gov.za/about-dsbd.html. [Accessed: 2016-02-09]. 
43. The department of trade and industry. Nd. Institutional support for small medium micro- enterprise development.[Online] Available from: 
44. http://www.dti.gov.za/sme_development/inst_support.jsp. [Accessed: 2016-02-09].
45. The department of trade and industry.Nd.The national small business development act 1996. [Online] Available from: https://www.thedti.gov.za/sme_development/docs/act.pdf. [Downloaded: 2016-02-04].
46. The world bank. 2016. The economics of South African Townships. [Online] Available from: http://www.worldbank.org/en/country/southafrica/publication/the-economics-of-south-african-townships-special-focus-on-diepsloot. [Accessed: 2016-02-09].
47. University of Johannesburg. 2015. Township economies: job creation and competitiveness – Dr ThamiMazwai. [Online] Available from: http://www.docfoc.com/township-economies-job-creation-and-competitiveness-dr-thami-mazwai [Accessed: 2016-02-18].
48. University of Stellenbosch Business School. 2014. Needs and Challenges of Small Businesses in Khayelitsha [Online] Available from: http://www.usb.ac.za/Common/pdfs/sba_ facts/NeedsandChallenges_3.pdf [Accessed: 2016-02-18].
49. WebFinancial. 2011. Importance of SME sector – or why ARC exists. [Online] Available from: http://www.itweb.co.za/index.php?option=com_content&view=article&id=45967. [Accessed: 2016-02-02].
50. Webster, C. & Harris, M. 2016.SMEs and the law-do you comply? [Online] Available from: http://www.itwebinformatica.co.za/index.php?option=com_content&view=article&id=3970;smes-and-the-law-do-you-comply&catid=82:bytesize-2011&Itemid=131. [Accessed: 2016-02-19].