How SME owners’ characteristics influences external advice and access to finance

This paper aims to investigate the linkage between the use of external advice and access to finance for small and medium-sized enterprises (SMEs) in the UK, with particular consideration of differences in personal characteristics: gender, ethnicity and education. The approach adopted for the research is a telephone survey conducted by the Barclays small business research team in late 2005 on behalf of the authors. These data are quantitative in nature and involve a large sample of 400 SMEs with specific questions analysed by gender, ethnicity and education level. The approach adopted is robust and empirically sound and is a long established research methodology. We find that there appears to be a correlation between the provision of external advice and the ability to raise bank finance. Furthermore, there are clear gender, ethnic and educational differentials in the use of particular sources of advice, for example: Gender • men and women are equally likely to use accountants as sources of advice. • men are more likely to use family and friends and solicitors. • women, however, are around twice as likely to access external advice from Business Link and Enterprise Agencies. Ethnicity • family and friends is predominant amongst Asians or black respondents and the other ethnic group, which is also slightly true of accountants and solicitors. • ethnic minority respondents were considerably less likely to use Business Link/ Enterprise Agencies. Education • graduates are most likely to use solicitors and accountants, whilst they are very low users of advice from family and friends and Business Links/Enterprise Agencies. • O level and A level educated respondents predominate in family and friends and Business Link/ Enterprise Agencies.

Damage location in structures by monitoring vibration characteristics

The aim of this work was to investigate the feasibility of detecting and locating damage in large frame structures where visual inspection would be difficult or impossible. This method is based on a vibration technique for non-destructively assessing the integrity of structures by using measurements of changes in the natural frequencies. Such measurements can be made at a single point in the structure. The method requires that initially a comprehensive theoretical vibration analysis of the structure is undertaken and from it predictions are made of changes in dynamic characteristics that will occur if each member of the structure is damaged in turn. The natural frequencies of the undamaged structure are measured, and then routinely remeasured at intervals . If a change in the natural frequencies is detected a statistical method. is used to make the best match between the measured changes in frequency and the family of theoretical predictions. This predicts the most likely damage site. The theoretical analysis was based on the finite element method. Many structures were extensively studied and a computer model was used to simulate the effect of the extent and location of the damage on natural frequencies. Only one such analysis is required for each structure to be investigated. The experimental study was conducted on small structures In the laboratory. Frequency changes were found from inertance measurements on various plane and space frames. The computational requirements of the location analysis are small and a desk-top micro computer was used. Results of this work showed that the method was successful in detecting and locating damage in the test structures.

The new generation: characteristics and motivations of BME graduate eEntrepreneurs

The purpose of this research is to profile the characteristics and entrepreneurial motivations of graduate entrepreneurs from black and minority ethnic (BME) communities. The authors found that: BME graduate entrepreneurs were diverse in terms of their characteristics: size, gender, ethnicity and when they started the business. Almost all interviewees had worked for someone before they started their business. The two most compelling motivations for start up were 'being your own boss', especially for Indians and Bangladeshis; and making more money (31%), in particular for African Caribbeans. Over half of interviewees started a business in a sector in which they had prior experience, knowledge or skills. Two thirds of interviewees obtained advice from family and friends, while just over a third had completed any kind of training or course. This study has provided an insight into characteristics and entrepreneurial motivations of BME graduate entrepreneurs. Though the results of this study are indicative, there is a compelling case for further research into this relatively unexplored group.

Black and minority ethnic graduate entrepreneurs: motivations, characteristics and access to finance

This paper draws upon four case studies to examine characteristics, entrepreneurial motivations and access to finance of black and minority ethnic (BME) graduates in the UK. We find that BME graduates starting a business are motivated by a desire to “do better”, and rely heavily on personal savings and family sources for start-up capital. In addition: • There is no conclusive evidence that suggests in this study that BME graduates entered entrepreneurship because of unemployment; with the exception of a few, all had jobs prior to entering self employment. • “Glass ceilings” were often cited by participants of the case studies as a kind of barrier, but there was reluctance to specify exactly what that meant. • Also, lack of satisfaction from working for others is considered to be a strong motivator for entering self-employment but other reasons, to be one’s own boss and the prospect of higher earnings, are also strong motivators. There is, therefore, a need for support agencies and universities to recognise the distinctive nature of BME graduate enterprise in order to provide effective solutions for different groups. This might include a) work experience, b) advice on an adequate capital structure at start up, c) adequate funding and training, and d) appropriate training for all graduates in basic business education.