The paper applies robust econometric techniques to assess the impact of publicly-provided subsidised 'soft' business support on the performance of small and medium-sized enterprises (SMEs). It considers the assistance for consultancy advice provided towards marketing under the UK Enterprise Initiative, looking at its effect on sales turnover, employment and survival, and making explicit allowance for selection effects. It is found that the policy has no impact on the survival of smaller SMEs, and that it is most effective in the mid-range SMEs, where it raises survival rates by about 4% over the longer run and growth rates in surviving firms by up to 10% per annum. Overall, the scheme has a substantial impact, but the paper draws attention to the possible displacement effects.

Evaluating the Effect of Soft Business Support upon Small Firm Performance

This paper surveys the recent literature on the relationship between SMEs, financial deepening and economic development. While a large SME sector is not associated with faster economic growth or poverty alleviation, financial deepening can have a pro-growth and pro-poor impact by alleviating SMEs’ financing constraints, enabling firm entry and entrepreneurship, and better resource allocation. It is important to differentiate between different segments of the SME population, most critically between subsistence micro entrepreneurs and transformational entrepreneurs. This paper also discusses the importance of market structure, competition and regulations for SMEs and their access to finance over the business cycle and during crises.

/pdf/bank-financing-for-smes-lessons-from-the-literature-23kyd1gbop.pdf

Bank Financing for SMEs – Lessons from the Literature

The SAGE Handbook of Small Business and Entrepreneurship

Our systematic search for empirical studies on entrepreneurial motivation published over the last five years (2008-2013) retrieved 51 relevant studies (filtered from over 1,200 search results), which form the basis of this review. Considering the type and quality of studies suggests that we can be relatively confident in our answer to the first review question below (typologies). The evidence-base for the second and third review questions (drivers and consequences of entrepreneurial motivation) is weaker and still developing. Beyond answering the three broad research questions below, we develop a framework for future research synthesising the review findings. 1) What typologies exist to describe entrepreneurial motivation? 2) What influences and shapes entrepreneurial motivation? 3) What consequences have different entrepreneurial motivations for entrepreneurial performance?

/pdf/understanding-motivations-for-entrepreneurship-a-review-of-hp8pqjuk3n.pdf

Understanding motivations for entrepreneurship: a review of recent research evidence

Innovation aiming to develop and implement new public policies, services and organisational designs is frequently praised as an intelligent alternative to across-the-board cuts in times of shrinking budgets. It is also seen as a promising tool for breaking policy deadlocks and adjusting welfare services and delivery systems to new and changing demands (Bason, 2010). At the same time, there is growing evidence that multi-actor collaboration in networks, partnerships and inter-organisational teams can spur public innovation (Sorensen and Torfing, 2011; Ansell and Torfing, 2014). The involvement of different public and private actors in public innovation processes may improve the understanding of the problem or challenge at hand, bring forth new ideas and proposals, and build joint ownership of new and bold solutions (Hartley, Sorensen and Torfing, 2013). It may also ensure that the needs of users, citizens and civil society organisations are fully taken into account (Bason, 2010).

/pdf/enhancing-public-innovation-through-collaboration-leadership-3eclezyuq6.pdf

Enhancing Public Innovation through Collaboration, Leadership and New Public Governance

This is the first full evaluation of the Enterprise Finance Guarantee (EFG) scheme which was introduced in January 2009 to provide additional lending to businesses having difficulties raising finance during the credit crunch.11 The evaluation builds on the earlier analysis undertaken by the authors in the EFG Early Assessment.12 The early stage assessment provided an early indication of the likely benefits of the scheme, although these results were only based on the first few months of operation in 2009. Accordingly impacts were not fully evident across this period and the data was not subjected to econometric analysis against comparison groups, nor was any Cost Benefit Analysis (CBA) undertaken to assess overall cost effectiveness.
This evaluation report more fully considers the impact of the loan on the whole 2009 cohort of EFG users by analysing the results of a telephone survey of a sample of beneficiaries. This survey tracked business performance for the period 2009-2012 and provides estimates on which to assess these economic impacts against a comparison group of non-user businesses.

Economic Evaluation of the Enterprise Finance Guarantee (EFG) scheme.

This study was undertaken by Durham Business School, on behalf of the Small Business Service (SBS), between February and July 2006 The research team previously explored ideas and perceptions associated with starting a business (Allinson et al, 2005), identifying those which are untrue or exaggerated – ‘myths’ which prevent some people from going into business The current research builds upon that work, exploring the myths related to business growth

Myths surrounding growing a business : a focus group based study on behalf of the Small Business Service.

Introduction
This research report advances the evidence base on the factors that affect the performance and growth of very small businesses (those with 0-9 employees). Recent academic thinking in this area has moved beyond simple analyses of business characteristics to develop more powerful explanatory models that incorporate the values, beliefs and aspirations of business owners. Therefore, as well as describing patterns of growth and the more concrete factors that affect these this report also considers the mindsets of owners and their beliefs about growth.

Objectives
In order to achieve its aims this research project sought to:
i.
Identify the specific obstacles to growth that affect very small businesses and consider how they differ to those experienced by larger businesses.
ii.
Assess why and how these obstacles are problematic for growth in very small businesses.
iii.
Assess the extent to which these obstacles are based on misperceptions or misinformation.
Ultimately the project seeks to identify a rationale for policy development in this area and assess any policy options that might be used to encourage and enable very small businesses to achieve higher levels of growth.

Method
The research involved three inter-related sequential elements. A literature review informed the development of the telephone survey by showing how psychological factors can serve to limit business owners’ appetite for and approaches to growth. A further key theme in the literature relates to the distinctiveness of non-employing businesses, especially one person businesses (OPBs).
Following the literature review, a 25 minute telephone survey was conducted during October and November 2012 involving 1,000 microbusinesses; 325 with no employees, 398 with 1-4 employees and 277 with 5-9 employees. The survey collected information on business and owner demographics, growth performance and ambitions, internal capacities and capabilities as well as views on obstacles to growth faced by their business and steps taken to attempt to overcome these constraints. The information collected led to the construction of an index of 31 obstacles associated with a range of material factors as well as the mindsets of the business owners. These data were analysed to define three distinct types of constraint - Vision, Capacity and Market.
Finally, eight focus groups of business owners were conducted to explore myths or misperceptions associated with growing a business. In particular, these groups were used to contrast the experiences and mindsets of businesses that had and had not grown.

Understanding growth in microbusinesses.

Street trading and pedlary in Great Britain : a report of research into the application and perception of local authority controls and pedlar legislation.

Social Enterprises (SEs) operate in almost every industry in the UK, from health and social
care to renewable energy, from retail to recycling, from employment to sport, from housing
to education. Amongst the most well known examples are Traidcraft, the Eden Project, Big
Issue and Jamie Oliver’s Fifteen restaurants, but these represent only a small fraction of
the sector. As with all businesses, SEs compete to deliver goods and services but profits
are reinvested for social or environmental purposes, in the business or in the community,
rather than for the benefit of shareholders and owners. SE activity itself usually takes
account of additional factors in the way business is done, with many pursuing gains on a
double or triple bottom line, seeking and measuring social responsibility and environmental
sustainability, as well as earnings.

Business support for social enterprises : findings from a longitudinal study

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