Growth and profitability of small and medium-sized enterprises: Some Welsh evidenceJames S. Foreman-Peck, Gerald Makepeace and Brian Morgan Regional Studies, 2006, vol. 40, issue 4, pages 307-320 Abstract: Foreman-Peck J., Makepeace G. and Morgan B. (2006) Growth and profitability of small and medium-sized enterprises: some Welsh evidence, Regional Studies 40, 307--319. Policy-makers throughout the Organization for Economic Co-operation and Development (OECD) are keen to promote the development of small and medium-sized enterprises (SMEs) by a wide variety of means. The present study of over 1600 Welsh SMEs casts doubt on the effectiveness of doing so by grants, by encouraging trade associations, by pursuing current initiatives in training or by stimulating innovation as defined by SME management. On the other hand, it finds that support for selective Information Technology investment and for marketing planning could be beneficial. Additional results that might be addressed by policy are short-termism by older managers -- preferring current to future profits more than younger managers -- signs that fixed costs of tax compliance bear substantially more heavily on the profitability of smaller SMEs, and evidence for a substantial partnership and sole trader 'risk premium’ between SMEs, suggesting considerable entrepreneurial risk aversion. Small and medium-sized enterprises (SMEs) Growth Profitability Policy Risk Time preference Foreman-Peck J., Makepeace G. and Morgan B. (2006) Growth and profitability of small and medium-sized enterprises: some Welsh evidence, Regional Studies 40, 307--319. Policy-makers throughout the Organization for Economic Co-operation and Development (OECD) are keen to promote the development of small and medium-sized enterprises (SMEs) by a wide variety of means. The present study of over 1600 Welsh SMEs casts doubt on the effectiveness of doing so by grants, by encouraging trade associations, by pursuing current initiatives in training or by stimulating innovation as defined by SME management. On the other hand, it finds that support for selective Information Technology investment and for marketing planning could be beneficial. Additional results that might be addressed by policy are short-termism by older managers -- preferring current to future profits more than younger managers -- signs that fixed costs of tax compliance bear substantially more heavily on the profitability of smaller SMEs, and evidence for a substantial partnership and sole trader 'risk premium’ between SMEs, suggesting considerable entrepreneurial risk aversion. Petites et Moyennes Entreprises (PME) Croissance Rentabilité Politique Risques Pé riodicité Foreman-Peck J., Makepeace G. and Morgan B. (2006) Growth and profitability of small and medium-sized enterprises: some Welsh evidence, Regional Studies 40, 307--319. Policy-makers throughout the Organization for Economic Co-operation and Development (OECD) are keen to promote the development of small and medium-sized enterprises (SMEs) by a wide variety of means. The present study of over 1600 Welsh SMEs casts doubt on the effectiveness of doing so by grants, by encouraging trade associations, by pursuing current initiatives in training or by stimulating innovation as defined by SME management. On the other hand, it finds that support for selective Information Technology investment and for marketing planning could be beneficial. Additional results that might be addressed by policy are short-termism by older managers -- preferring current to future profits more than younger managers -- signs that fixed costs of tax compliance bear substantially more heavily on the profitability of smaller SMEs, and evidence for a substantial partnership and sole trader 'risk premium’ between SMEs, suggesting considerable entrepreneurial risk aversion. Small and medium-sized enterprises (SMEs) Wachstum Rentabilität Politik Risiko Ungeduld Foreman-Peck J., Makepeace G. and Morgan B. (2006) Growth and profitability of small and medium-sized enterprises: some Welsh evidence, Regional Studies 40, 307--319. Policy-makers throughout the Organization for Economic Co-operation and Development (OECD) are keen to promote the development of small and medium-sized enterprises (SMEs) by a wide variety of means. The present study of over 1600 Welsh SMEs casts doubt on the effectiveness of doing so by grants, by encouraging trade associations, by pursuing current initiatives in training or by stimulating innovation as defined by SME management. On the other hand, it finds that support for selective Information Technology investment and for marketing planning could be beneficial. Additional results that might be addressed by policy are short-termism by older managers -- preferring current to future profits more than younger managers -- signs that fixed costs of tax compliance bear substantially more heavily on the profitability of smaller SMEs, and evidence for a substantial partnership and sole trader 'risk premium’ between SMEs, suggesting considerable entrepreneurial risk aversion. Pymes Crecimiento Rentabilidad Política Riesgo Pr eferencia de tiempo Date: 2006 Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: http://EconPapers.repec.org/RePEc:taf:regstd:v:40:y:2006:i:4:p:307-320 Ordering information: This journal article can be ordered from Access Statistics for this article Regional Studies is edited by Mike Coombes, Andy Gillespie, Richard Harris, Angela Hull, Meo-Po Kwan, Robin Leichenko, Neill Marshall, Andy Pike and Colin Wren More articles in Regional Studies from Taylor and Francis Journals |
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