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Who Takes Advice? Firm Size Threshold, Competence, Concerns and Informality in a Contingency Approach

Kevin Mole, Robert Baldock () and David North ()
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Robert Baldock: Middlesex University Business School
David North: Middlesex University Business School

No 9, Research Papers from Enterprise Research Centre

Abstract: Although they are not the only conduit for knowledge, advisers can diffuse new methods, knowledge and best practice to SMEs Existing work suggests advice as a resource available for the small firm manager. Whether the manager takes that advice depends on the trust between owner-manager and adviser, the degree to which the owner-manager perceives themselves to need advice, the ‘knowledge gap hypothesis’ and the degree to which they feel able to interact with advisers and implement advice. In this paper, we model whether a small firm manager takes advice from formal sources, including public and private suppliers.

Keywords: business advice; small business; SME policy; SME management; small firms (search for similar items in EconPapers)
JEL-codes: M10 L53 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-bec, nep-ent and nep-sbm
Date: 2013-09-01
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