The Provision of Assistance to Small Firms

Ritchie, Douglas; Asch, David A.; Weir, Alastair

doi:10.1177/026624268400300106

Cited by 5 publications

(2 citation statements)

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“…Arguments for correcting instances of market failure gained prominence in the 1980s within a context of fostering an`enterprise culture' (Gorton, 1997). After an initial ad hoc and fragmented development (Ritchie et al, 1984), attempts were made to simplify and coordinate public sector support provision for small and medium-sized enterprises (SMEs) through the development of the Business Link (BL) network, which was launched in 1992. The central objective of BL was to provide SMEs with highquality support services from a single local contact point with the network acting as a gateway to, and deliverer of, mainly publicly funded business support and advice.…”

Section: Business Support Services For Farms and Firmsmentioning

confidence: 99%

Treating Farms as Firms? the Evolution of Farm Business Support from Productionist to Entrepreneurial Models

Phillipson

Gorton

Raley

et al. 2004

Environ Plann C Gov Policy

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Farming enterprises throughout the European Union have traditionally been treated very differently by the state compared with their nonagricultural counterparts. Agricultural activities have been governed by a separate set of policy objectives, political institutions, and support agencies. However, this agricultural ‘exceptionalism’ is being steadily eroded as markets are partially liberalised, farmers are encouraged to pursue new forms of economic activity, and as government institutions are reformed. Farmers are being encouraged to see themselves as ‘entrepreneurs' to face fundamentally changed markets. There is, therefore, renewed attention to the existing levels of generic business skills within the farming sector and to the nature and effectiveness of business advice and support frameworks in enhancing these skills. The paper investigates the extent to which farmers have experienced different patterns of business support use and perceive themselves as having different generic skills needs in comparison with other rural microbusinesses and considers the attractiveness of different models of delivering business advice to the sector. A review is undertaken of the evolution of rural business support in England together with an analysis of data from a survey of almost 1800 rural microbusinesses in the northeast of England. It is concluded that there are a number of significant challenges facing the adjustment of the farm sector towards a more entrepreneurial model of business development arising from the sector's legacy of separation and exceptionalism within the support framework. In order to help encourage the development of generic business skills an ‘intermediary’ model of business advice is advocated, in which an intermediary agency acts as a bridge between farms and generic business support providers.

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Section: Business Support Services For Farms and Firmsmentioning

confidence: 99%

Treating Farms as Firms? the Evolution of Farm Business Support from Productionist to Entrepreneurial Models

Phillipson

Gorton

Raley

et al. 2004

Environ Plann C Gov Policy

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show abstract

“…Successive studies over the past ten years have shown the importance of strict financial control in the infant business development process (Milne and Thompson, 1986;Ray and Hutchinson, 1983;Ritchie et al, 1984). Studies have also shown that one of the principal activities of venture capitalists with investee businesses is in financial aspects, including the financial control (Gorman and Sahlman, 1986;Harrison and Mason, 1992;Macmillan et al, 1988;Sapienza and Timmons, 1989).…”

Section: The Approach To Financial Controlmentioning

confidence: 99%

Managing organizations to address the finance gap

Harris

1995

International Journal of Entrepreneurial Behavior &Amp; Research

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The rise and fall of the finance gap In 1931, the Macmillan Committee report (HM Government, 1931) concluded that a "gap" existed in the availability of finance for businesses in amounts of less than £200,000, equivalent to £9 million in 1994 prices. Concern that an absence of appropriate finance has been hindering the birth and development of embryonic, young, and small businesses has remained the concern of many subsequent government reports.The 1971 Bolton and 1979 Wilson reports (HM Government, 1971, 1979 saw the birth and growth of small business to be fundamental for sustained long-term economic growth, and investigated the availability of finance for their development. The Bolton report concluded that the gap had, broadly, been filled by a variety of institutions, but recognized an information gap for entrepreneurs which could be met with appropriate agencies. The Wilson report saw both a loan gap (which could be met with a government loan guarantee scheme), and an equity gap. The latter could be met with a range of measures, including the creation of small business investment companies of the type then established in the USA, as well as a range of fiscal measures to encourage private investment in small companies.The late 1970s and early 1980s witnessed considerable economic growth in California and Massachusetts, derived largely from rapid expansion of new enterprises in some new high-technology industries. This was associated with considerable growth of venture capital finance. Venture capital organizations were recognized as having played a key role in fostering this process (Florida and Kenney, 1988a;Hambrecht, 1984). The Bank of England shared an optimistic view of the potential of the venture capital industry both to meet any "equity gap" in the UK, and to foster new business growth (Bank of England, 1982). Rapid growth in the venture capital industry seemed to show that this was happening (Shilson, 1984; Tyebjee and Vickery, 1988).A recent government report (Department of Trade and Industry, 1991) concludes that "small firms in Great Britain currently face few difficulties in raising finance for their innovation and investment proposals in the private sector". It notes "results suggest, as many commentators since the time of Bolton have argued, that the institutional framework for investment in small firms is broadly adequate and not in need of supplementation by public sector institutions". These reports have provided little support for large scale direct involvement of the public sector in providing capital to young businesses.

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The Local Provision of Small and Medium Enterprise Advice Services

Haughton¹

1993

Regional Studies

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The Provision of Assistance to Small Firms

Abstract: Douglas Ritchie, David Asch and Alastair Weir lecture at the Humberside College of Higher Education, United Kingdon. This note reports on the initial findings of an extensive research study into the provision of help and support for small firms, its wide diversity, and its effectiveness.

Cited by 5 publications

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Treating Farms as Firms? the Evolution of Farm Business Support from Productionist to Entrepreneurial Models

Treating Farms as Firms? the Evolution of Farm Business Support from Productionist to Entrepreneurial Models

Managing organizations to address the finance gap

The Local Provision of Small and Medium Enterprise Advice Services

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