Delivering Quality Accommodation for Small Businesses in London despite Market Difficulties

Martin Large and Chris Rushton
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Martin Large: Greater London Enterprise Ltd
Chris Rushton: GLE Properties Ltd

Local Economy, 2005, vol. 20, issue 3, 314-317

Abstract: Public policy on the subject of small business support generally concentrates on tackling market failures in delivering finance, innovation, technical development, skills and entrepreneurship. However, in growing city regions such as London, the difficulty in obtaining good quality fit-for-purpose accommodation can be an important factor inhibiting the growth of otherwise successful business. The rate of business formation is very high in London, but paradoxically, the very vibrancy of the economy creates a real estate market that can be hostile to the needs of small businesses, particularly those which achieve rapid growth. This article will consider the factors that cause this situation and will then outline some practical examples of how they can be overcome by smart public sector intervention.

Date: 2005
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Persistent link: https://EconPapers.repec.org/RePEc:sae:loceco:v:20:y:2005:i:3:p:314-317

DOI: 10.1080/02690940500191133

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