Finance pathways for young innovative small‐ and medium‐size enterprises: a demand‐side examination of finance gaps and policy implications for the post‐global financial crisis finance escalator
Owen, Robyn 
ORCID: https://orcid.org/0000-0003-4241-3367, Deakins, David and Savic, Maja
(2019)
Finance pathways for young innovative small‐ and medium‐size enterprises: a demand‐side examination of finance gaps and policy implications for the post‐global financial crisis finance escalator.
Strategic Change, 28
(1)
.
pp. 19-36.
ISSN 1086-1718
[Article]
(doi:10.1002/jsc.2243)
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Abstract
The paper addresses the persistent finance gaps facing young, innovative SMEs, by examining the financing pathways of 40 UK businesses in a post global financial crisis (GFC) environment. Using a unique combination of finance escalator and resource-based view theories four propositions are tested by examining: (i) early and growth stage development; (ii) innovation R&D investment horizons; (iii) the management resource base; (iv) finance gaps and their implications. The paper finds that successful financing strategies are emerging, using a mix of bootstrapping, collaboration and new emerging post-GFC finance escalator funding, which is heavily reliant on government interventions. It also pinpoints remaining finance gaps and the need for more cohesive financing and support policy to address these.
| Item Type: | Article |
|---|---|
| Additional Information: | Special Issue: Blockchain and Other Innovations in Entrepreneurial Finance: Implications for Future Policy |
| Research Areas: | A. > Business School > Centre for Enterprise and Economic Development Research (CEEDR) |
| Item ID: | 26039 |
| Notes on copyright: | This is the peer reviewed version of the following article: Owen R, Deakins D, Savic M. Finance pathways for young innovative small‐ and medium‐size enterprises: A demand‐side examination of finance gaps and policy implications for the post‐global financial crisis finance escalator. Strategic Change. 2019;28:19–36, which has been published in final form at https://doi.org/10.1002/jsc.2243. This article may be used for non-commercial purposes in accordance with Wiley Terms and Conditions for Use of Self-Archived Versions. |
| Useful Links: | |
| Depositing User: | Pamela Macaulay |
| Date Deposited: | 22 Jan 2019 13:35 |
| Last Modified: | 29 Nov 2022 19:20 |
| URI: | https://eprints.mdx.ac.uk/id/eprint/26039 |
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