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Credit and the crisis: access to finance for innovative small firms

Lee, Neil , Sameen, Hiba and Martin, Lloyd (2013) Credit and the crisis: access to finance for innovative small firms. Big Innovation Centre, London.

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Abstract

Since the 2008 financial crisis there has been a significant tightening in credit conditions and a dramatic reduction in bank lending to small firms. Government policy – such as the new Business Bank – has been focused on addressing this problem. A consensus has emerged that access to finance to small firms is one of the key factors holding back the national economy. Yet only a minority of small firms will actually drive the economic recovery – most small firms have little impact on job creation. In a time of limited resources, government policy needs to prioritise the needs of innovative small firms: firms which bring new products and processes to market and which are more likely to grow. The success of these firms will be vital for the long-term health of the UK economy.

Item Type: Monograph (Report)
Official URL: http://www.biginnovationcentre.com
Additional Information: © Big Innovation Centre (The Work Foundation and Lancaster University)
Library of Congress subject classification: H Social Sciences > HC Economic History and Conditions
H Social Sciences > HD Industries. Land use. Labor > HD28 Management. Industrial Management
H Social Sciences > HF Commerce
H Social Sciences > HG Finance
Sets: Departments > Geography and Environment
Rights: http://www.lse.ac.uk/library/usingTheLibrary/academicSupport/OA/depositYourResearch.aspx
Funders: The Work Foundation
Date Deposited: 10 Sep 2013 15:58
URL: http://eprints.lse.ac.uk/52378/

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