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.

FDI horizontal and vertical effects on local firm technical efficiency

Differencing from previous studies on foreign direct investment (FDI) spillovers to domestic enterprises which mainly focus on productivity, in this paper we take a different perspective by analysing the impacts of FDI to technical efficiency of domestic firms. The paper goes beyond the current literature to shed some light on the spillover effects of FDI to technical efficiency of small and medium enterprises in a developing country. By exploiting a firm-level panel dataset and using SFA models following Battese and Coelli (1995), the paper is able to analyse horizontal spillovers through imitation and competition and labour mobility as well as vertical spillovers through backward and forward linkages on technical efficiency. The paper contributes to the understanding of potential effects on foreign invested enterprises on domestic economy in general and local enterprises performance in particular. Thus it importantly assists policy making by the government of developing countries, where FDI is believed to create technical spillovers on domestic enterprises.

Internet technologies, ECRM capabilities, and performance benefits for SMEs:An exploratory study

Research on large firms suggests that dedicated customer relationship management (CRM) software applications play a critical role in creating and sustaining customer relationships. CRM is also of strategic importance to small and medium-sized enterprises (SMEs), but most of them do not employ dedicated CRM software. Instead they use generic Internet-based technologies to manage customer relationships with electronic CRM (eCRM). There has been little research on the extent to which the use of generic Internet technologies contributes to SME performance. The present study fills the gap, building upon the literature on organizational capabilities, marketing, and SMEs to develop a research model with which to explore the relationships between generic Internet technologies, eCRM capabilities, and the resulting performance benefits in the SME context. A survey across 286 SMEs in Ireland finds strong empirical evidence in support of the hypotheses regarding these benefits. The study contributes to managerial decision making by showing how SMEs can use generic Internet technologies to advance their customer relationships and contributes to theory development by conceptualizing eCRM capabilities in an SME context.

Current issues in international HRM:alternative forms of assignments, careers and talent management in a global context

This special issue is dedicated to examining some current issues in international HRM; it contributes mainly to the field of HRM in the multinational enterprise. However, it clearly also draws on knowledge from cross-cultural IHRM. The guest editors have identified three topics that have gained tremendous importance due to the increasing globalisation of the world economy and the war for internationally qualified talent. This not only applies to multinational enterprises, but also to small and medium-sized enterprises, as senior managers are challenged to attract, retain, and motivate global talent: global assignments, global careers and global talent management. While all fields are not new and have partly been subject to prominent publications (e.g., Scullion & Collings, 2011; Cascio, 2013) new and highly relevant research questions continue to emerge and there is still a lack of empirical research in these areas.

Intellectual property asset management:how to identify, protect, manage and exploit intellectual property within the business environment

In the new ‘knowledge-intensive economies’ Intellectual assets increasingly play a key part on balance sheets. There is an increasing global awareness that in order to promote innovation and the growth of the economy, businesses must fully recognise and exploit their intellectual assets. A company’s ability to innovate rapidly and successfully is now regarded as essential and most breakthroughs are made by Small and Medium-sized Enterprises (SMEs), usually with no in-house legal professionals to help them. It is essential that those working with or creating intellectual property rights (IPR) are aware of the basics of Intellectual Property Law. Intellectual Property Asset Management provides business and management students at all levels with an accessible-straight-forward explanation of what the main Intellectual Property rights are and how these rights are protected. Locating the subject squarely in a business context and using case studies and examples throughout drawn from a wide range of business organisations, it explains how an organisation can exploit their rights through licensing, franchising and other means in order to make the best possible use of their IP assets. This book will provide students with: • the basic Intellectual Property law knowledge needed to identify a potential IP issue • the tools and understanding to assess an IP breach • the ability to identify where the problem cannot be solved in house and where expert legal assistance is required • the knowledge required to work effectively with lawyers and other legal professionals to achieve the desired outcome

Firm growth and firm size

This article analyses the growth rates of the complete population of UK-registered firms for the period 2001 to 2005. We estimate Gibrat's law – that growth rates are independent of firm size – by deciles of the firm size distribution. Whether we are able to reject Gibrat's law varies across deciles. We also show how estimates vary according to the measure of firm size, time period and sample selection.

Simultaneous continuous recording of accommodation and pupil size using the modified Shin-Nippon SRW-5000 autorefractor

The internal optics of the recent models of the Shin-Nippon SRW-5000 autorefractor (also marketed as the Grand Seiko WV-500) have been modified by the manufacturer so that the infrared measurement ring has been replaced by pairs of horizontal and vertical infrared bars, on either side of fixation. The binocular, open field-of-view, allowing the accommodative state to be objectively monitored while a natural environment is viewed, has made the SRW-5000 a valuable tool in further understanding the nature of the oculomotor response. It is shown that the root-mean-square of model eye measures was least (0.017 ± 0.002D) when the separation of the horizontal measurement bars were averaged twice. The separation of the horizontal bars changes by 3.59 pixels/dioptre (r2 = 0.99), allowing continuous on-line analysis of the refractive state at up to 60 Hz temporal resolution to an accuracy of <0.001D, with pupils >3 mm. The pupil edge is not obscured in the diagonal axis by the measurement bars, unlike the ring of the original optics, so in the newer model pupil size can be measured simultaneously at the same rate with a resolution of <0.001 mm. The measurements of accommodation and pupil size are relatively unaffected by eccentricity of viewing up to ±10° from the visual axis and instrument focusing inaccuracies over a range of 10 mm towards the eye and 5 mm away from the eye. The resolution and temporal properties of the analysis are therefore ideal for the simultaneous measurement of dynamic accommodation and pupil responses. © 2004 The College of Optometrists.

Climate change and construction sector SMEs:vulnerability, consequences and resilience

Climate change has become one of the prime challenges the society has to face in the future. As far as businesses are concerned, it also has added one other important issue that they have to consider as part of their business planning. Climate change is of significant importance particularly to the Small and Medium-sized enterprises (SMEs), which are considered as the most vulnerable among the business community to the effects of climate change. This paper presents the findings of a literature review conducted with the aim of identifying the specific importance of climate change to the construction sector SMEs. The objectives of the paper are to identify the vulnerability of construction sector SMEs to the effects of climate change, their consequences and also to identify the importance of improving resilience and implementing adaptive measures to manage these issues. The paper also outlines the directions of a study undertaken to address these issues as part of an EPSRC funded research project titled “Community Resilience to Extreme Weather Events – CREW”. The paper concludes by stressing the importance of improving the resilience of construction sector SMEs to climate change effects and also the importance of collective action in this regard.

Effects of extreme weather events on SMEs:a literature review and synthesis

Small and Medium-scale Enterprises (SMEs), which generate more than one half of the employment (58.9%) and turnover (51.9%), form an important sector of the UK economy. Although they are the main drivers of the UK economy, they are also said to be the most vulnerable to the impacts of Extreme Weather Events (EWEs). The world in recent years has experienced a significant number of EWEs, and SMEs have suffered significant economic losses as a result. The now apparent climate change, which is mostly attributed to human interference with the environment over the past few decades, is believed to have a strong link with the increase of EWEs in the recent past. Threats of EWEs are expected to further increase due to their increased frequency and magnitude and increased vulnerability to their effects. Interestingly, EWEs seem to present businesses with various business opportunities and positive consequences as well, besides the much feared and overwhelming threats and negative consequences they present. Understanding such impacts has become a necessity to improve the resilience of SMEs so that they will be better prepared to minimise the negative consequences and maximise the positive consequences posed by EWEs. This paper attempts to bring together and evaluate the current knowledge with regard to the effects of EWEs on SMEs. The paper establishes the case for more in-depth study with this regard and concludes by stressing the need for improving the resilience of SMEs to EWEs.

Putting policy initiatives into practice:adopting an “honest broker” approach to adapting small businesses against flooding

Purpose: Amidst the current economic climate, which places many constraints on expensive flood defence schemes, the policy makers tend to favour schemes that are sympathetic to the needs of small and medium-sized enterprises (SMEs) and which promote empowering local communities based on their individual local contexts. Research has shown that although several initiatives are in place to create behavioural change among SMEs in undertaking adaptation approaches against flooding, they often tend to delay their responses by means of a "wait and see" attitude. The paper aims to discuss these issues. Design/methodology/approach: This paper argues that unless there are conscious efforts in the policy-making community to undertake explicit measures to engage with SMEs in a collaborative way, the uptake of adaptation measures will not be achieved as intended. With the use of the "honest broker" approach the paper provides a conceptual way forward of how a sense of collaboration can be instigated in an engagement process between the policy makers and SMEs, so that the scientific knowledge is translated in an appropriately rational way, which best meets the expectations of the SMEs. Findings: The paper proposes a conceptual model for engaging SMEs that will potentially increase the uptake of flood adaptation measures by SMEs. This could be a useful model with which to kick start a collaborative engagement process that could escalate to wider participation in other areas to improve impact of policy initiatives. Originality/value: The paper lays the conceptual foundation for a new theoretical base in the area, which will encourage more empirical investigations that will potentially enhance the practicality of some of the existing policies. © Emerald Group Publishing Limited.

Impacts of flooding on SMEs and their relevance to chartered surveyors:

This is the final report of the RICS Education Trust funded “Developing Flood Expert Knowledge in Chartered Surveyors – DEFENCES” research project. The UK has endured a number of major flood events in recent years, and the UK Environment Agency (2009a) identified that about 5.2million properties in England, amounting to one in six, are at risk of flooding. The impacts of flooding include direct and indirect impacts and can be particularly devastating for small and medium-sized enterprises (SMEs) who are generally more vulnerable to such events than larger business organisations. Recent flood events have established how costly flooding can be to the SME sector (Pitt, 2008, ABI, 2010), which has given greater impetus to the need to improve the resilience of at-risk SMEs. A lack of professional advice on flood protection and adaptation measures represents a potential barrier to the uptake of such interventions by SMEs. A recent Royal Institution of Chartered Surveyors (RICS) survey, as quoted in Defra (2008) notes that, although a majority of chartered surveyors would like to work in this area of practice (flood risk assessment and adaptation), they are conscious of gaps in their competency, knowledge and understanding. The research project sought to contextualise this broader issue and investigate how chartered surveyors can bridge the gap in providing professional flood advice to SMEs. Further, a shift in the UK government policy on flood risk management is evident, where at-risk communities are urged to adapt to flooding. This places greater emphasis on property-level flood adaptation, providing further impetus for Chartered Surveyors to be involved. Findings of the research will be of interest to the RICS, the RICS Flood steering Group, practicing surveyors generally, SMEs, business support and policy making organisations.

Continuous recording of accommodation and pupil size using the Shin-Nippon SRW-5000 autorefractor

A newly released commercial autorefractor, the Shin-Nippon SRW-5000 (Japan), has been found to be valid compared to subjective refraction and repeatable over a wide prescription range. Its binocular open field-of-view allows the accommodative state to be monitored while a natural environment is viewed. In conventional static mode, the device can take up to 45 readings in 1min using digital image analysis of the reflected retinal image of a measurement ring. Continuous on-line analysis of the ring provides high (up to 60Hz) temporal resolution of the refractive state to an accuracy of <0.001D. Pupil size can also be analysed to a resolution of <0.001mm. The measurement of accommodation and pupil size was relatively unaffected by eccentricity of viewing up to ±10° and instrument focusing inaccuracies of ±5mm. The resolution properties of the analysis are shown to be ideal for measurement of dynamic accommodation and pupil responses. Copyright © 2001 The College of Optometrists.

Record small and low loss slow light delay lines and dispersion compensators

Record small and low loss slow light optical signal processing devices are proposed and demonstrated using the recently invented Surface Nanoscale Axial Photonics (SNAP) technology.

Enhanced process verification through re-engineering the manufacturing procedure

In today’s modern manufacturing industry there is an increasing need to improve internal processes to meet diverse client needs. Process re-engineering is an important activity that is well understood by industry but its rate of application within small to medium size enterprises (SME) is less developed. Business pressures shift the focus of SMEs toward winning new projects and contracts rather than developing long-term, sustainable manufacturing processes. Variations in manufacturing processes are inevitable, but the amount of non-conformity often exceeds the acceptable levels. This paper is focused on the re-engineering of the manufacturing and verification procedure for discrete parts production with the aim of enhancing process control and product verification. The ideologies of the ‘Push’ and ‘Pull’ approaches to manufacturing are useful in the context of process re-engineering for data improvement. Currently information is pulled from the market and prominent customers, and manufacturing companies always try to make the right product, by following customer procedures that attempt to verify against specifications. This approach can result in significant quality control challenges. The aim of this paper is to highlight the importance of process re-engineering in product verification in SMEs. Leadership, culture, ownership and process management are among the main attributes required for the successful deployment of process re-engineering. This paper presents the findings from a case study showcasing the application of a modified re-engingeering method for the manufacturing and verification process. The findings from the case study indicate there are several advantages to implementing the re-engineering method outlined in this paper.

Women’s Entrepreneurship: closing the gender gap in access to financial and other services and in social entrepreneurship

This study explores differences between men and women entrepreneurs and social entrepreneurs. It explores the barriers and discriminatory effects that hinder women’s entrepreneurship, including access to finance in the European Union. The study includes four case studies covering the situation in the Czech Republic, Italy, Sweden, and the United Kingdom.