Investigation into small business investment companies : hearings before the Permanent Subcommittee on Investigations of the Committee on Government Operations. United States Senate.

Pt. 2 has subtitle: "Ninetieth Congress, first session, pursuant to Senate Resolution 53, 90th Congress. Apr. 12, 1967. Including index.

Small business : information on SBA's small business investment company programs : report to the Chair, Committee on Small Business, House of Representatives /

"B-261138"--P. 1.

Legislative Proposals to Modernize Business Development Companies and Expand Investment Opportunities, Testimony Before the House Subcommittee on Capital Markets and Government Sponsored Enterprises

This testimony discusses proposed legislation to amend the definition of accredited investor. It also discusses proposed legislation designed to reform the regulatory framework for business development companies. Among other things, the regulatory regime for BDCs would change to allow these companies to invest a greater portion of their assets in financial companies, potentially reducing the percentage of assets invested in operating companies.

The investment of pension funds in farmland [microform] : hearing before the Select Committee on Small Business, United States Senate, Ninety-sixth Congress, second session, on the investment of pension funds in farmland, October 8, 1980.

CIS Microfiche Accession Numbers: CIS 81 S721-6

Procedural difficulties encountered by smaller business in dealing with the IRS [microform] : hearings before the Subcommittee on Taxation, Financing, and Investment of the Select Committee on Small Business, United States Senate, Ninety-sixth Congress, second session, on procedural difficulties encountered by smaller business in dealing with the IRS, July 31 and August 19, 1980.

CIS Microfiche Accession Numbers: CIS 81 S721-5

Impacts of flood hazards on small and medium companies:strategies for property level protection and business continuity

Worldwide floods have become one of the costliest weather-related hazards, causing large-scale human, economic, and environmental damage during the recent past. Recent years have seen a large number of such flood events around the globe, with Europe and the United Kingdom being no exception. Currently, about one in six properties in England is at risk of flooding (EA, 2009), and the risk is expected to further increase in the future (Evans et al., 2004). Although public spending on community-level flood protection has increased and some properties are protected by such protection schemes, many properties at risk of flooding may still be left without adequate protection. As far as businesses are concerned, this has led to an increased need for implementing strategies for property-level flood protection and business continuity, in order to improve their capacity to survive a flood hazard. Small and medium-sized enterprises (SMEs) constitute a significant portion of the UK business community. In the United Kingdom, more than 99% of private sector enterprises fall within the category of SMEs (BERR, 2008). They account for more than half of employment creation (59%) and turnover generation (52%) (BERR, 2008), and are thus considered the backbone of the UK economy. However, they are often affected disproportionately by natural hazards when compared with their larger counterparts (Tierney and Dahlhamer, 1996; Webb, Tierney, and Dahlhamer, 2000; Alesch et al., 2001) due to their increased vulnerability. Previous research reveals that small businesses are not adequately prepared to cope with the risk of natural hazards and to recover following such events (Tierney and Dahlhamer, 1996; Alesch et al., 2001; Yoshida and Deyle, 2005; Crichton, 2006; Dlugolecki, 2008). For instance, 90% of small businesses do not have adequate insurance coverage for their property (AXA Insurance UK, 2008) and only about 30% have a business continuity plan (Woodman, 2008). Not being adequately protected by community-level flood protection measures as well as property- and business-level protection measures threatens the survival of SMEs, especially those located in flood risk areas. This chapter discusses the potential effects of flood hazards on SMEs and the coping strategies that the SMEs can undertake to ensure the continuity of their business activities amid flood events. It contextualizes this discussion within a survey conducted under the Engineering and Physical Sciences Research Council (EPSRC) funded research project entitled “Community Resilience to Extreme Weather — CREW”.

Informal e-learning : the case of small business owners

Purpose - The purpose of this paper is to investigate the use of an informal online discussion forum (ODF) to encourage voluntary participation and promote double-loop learning by small business owners (SBOs). Design/methodology/approach - A qualitative methodology was used where data gathered from three sources, the ODF posts, in-depth interviews with participants and a focus group with non-participants. These were analysed to evaluate learning of SBOs in an ODF. Findings - This research provides evidence that an ODF for SBOs supports double-loop learning; however, participation could not be assumed simply by the online availability of the discussion resource. Research limitations/implications - Few SBOs participated in the ODF which is consistent with research finding SBOs are a difficult group to engage in learning. Four forms of data were analysed to strengthen results. Practical implications - Caution should be exercised when considering investment in e-learning for SBOs. Originality/value - Evidence showing e-learning through an informal voluntary ODF can promote deep learning for SBOs.

Economic theory informing approaches to phoenix activity in small business: A neo-Schumpeterian analysis

The adequacy and efficiency of existing legal and regulatory frameworks dealing with corporate phoenix activity have been repeatedly called into question over the past two decades through various reviews, inquiries, targeted regulatory operations and the implementation of piecemeal legislative reform. Despite these efforts, phoenix activity does not appear to have abated. While there is no law in Australia that declares ‘phoenix activity’ to be illegal, the behaviour that tends to manifest in phoenix activity can be capable of transgressing a vast array of law, including for example, corporate law, tax law, and employment law. This paper explores the notion that the persistence of phoenix activity despite the sheer extent of this law suggests that the law is not acting as powerfully as it might as a deterrent. Economic theories of entrepreneurship and innovation can to some extent explain why this is the case and also offer a sound basis for the evaluation and reconsideration of the existing law. The challenges facing key regulators are significant. Phoenix activity is not limited to particular corporate demographic: it occurs in SMEs, large companies and in corporate groups. The range of behaviour that can amount to phoenix activity is so broad, that not all phoenix activity is illegal. This paper will consider regulatory approaches to these challenges via analysis of approaches to detection and enforcement of the underlying law capturing illegal phoenix activity. Remedying the mischief of phoenix activity is of practical importance. The benefits include continued confidence in our economy, law that inspires best practice among directors, and law that is articulated in a manner such that penalties act as a sufficient deterrent and the regulatory system is able to detect offenders and bring them to account. Any further reforms must accommodate and tolerate legal phoenix activity, at least to some extent. Even then, phoenix activity pushes tolerance of repeated entrepreneurial failure to its absolute limit. The more limited liability is misused and abused, the stronger the argument to place some restrictions on access to limited liability. This paper proposes that such an approach is a legitimate next step for a robust and mature capitalist economy.

Online learning an effective means for developing small business owner-managers’ capabilities?

Purpose If owner-managers engage in management development activities then chances of success may be improved for small businesses. But small business owner-managers (SBOMs) are a difficult group to engage in management development activities. While practitioners worry about timing, content and location of development activities, the purpose of this paper is to examine what drives SBOMs to participate in an online discussion forum (ODF) as a form of management development. An ODF was run with SBOMs and the factors affecting their participation are reported from this exploratory study. Design/methodology/approach A qualitative methodology was used where data gathered from three sources, the ODF posts, in-depth interviews with participants and a focus group with non-participants. These were analysed to evaluate factors affecting participation of SBOMs in an ODF. Findings The findings point to the importance of owner-managers’ attitudes. Attitudes that positively affected SBOMs participation in the ODF included; appreciating that learning leads to business success; positive self-efficacy developed through prior online experience; and an occupational identity as a business manager. Research limitations/implications Few SBOMs participated in the ODF, which is consistent with research finding that they are a difficult group to engage in management development learning activities. Three forms of data were analysed to strengthen results. Practical implications Caution should be exercised when considering investment in e-learning to develop the managerial capabilities of SBOMs. Originality/value Evidence of the factors important for participation in an informal voluntary ODF. The findings suggest greater emphasis should be placed on changing attitudes if SBOMs are to be encouraged to participate in management development activities.

Entrepreneurship and Motivation in Small Business Sector of Kerala

This thesis Entitled entrepreneurship and motivation in small business sector of kerala -A study of rubber products manufacturing industry.Rubber-based industry in Kerala was established only in the first half of the 20th century.the number of licensed manufacturers in the State has increased substantially over the years, particularly in the post- independence period. 54 rubber manufacturing units in 1965-66, the number of licensed rubber-based industrial units has increased to 1300 units in 2001-02. In 2001-02 Kerala occupied the primary position in the number of rubber goods manufacturers in the country.As per the latest report of the Third All India Census of Small Scale Industries 2001-02, Kerala has the third largest number of registered small scale units in the country next after Tamil Nadu and Utter Pradesh.This study of entrepreneurship in the small-scale rubber goods manufacturing industry in Kerala compares a cross section of successful and unsuccessful entrepreneurs with respect to socio-economic characteristics and motivational dynamics. Based on a sample survey of 120 entrepreneurs of Kottayam and Ernakulam districts successful and unsuccessful entrepreneurs were selected using multiple criteria. The study provides guidelines for the development of entrepreneurship in Kerala.The results on the socio-economic survey support the hypothesis that the successful entrepreneurs will differ from unsuccessful entrepreneurs with respect to education, social contacts, initial investment, sales turnover, profits, capital employed, personal income, and number of employees.Successful entrepreneurs were found to be self~starters. Successful entrepreneurs adopted a lot more technological changes than unsuccessful entrepreneurs. Successful entrepreneurs were more innovative — the percent of successful entrepreneurs and unsuccessful entrepreneurs reporting innovations in business were 31.50 and 8.50 percent respectively.

Do small business tenants need protecting in commercial lease negotiations?

This paper sets out the findings relating to small business tenants of a major UK Government funded study into the commercial and industrial property landlord and tenant relationship. The UK Government is concerned that small business tenants do not appreciate many of the implications of signing leases, which in the UK are generally longer than in most other countries of the world. The objectives of the paper are to identify the characteristics of leases in the UK and any differences between those signed by small, medium and larger companies. It also examines the negotiation process and identifies whether small business tenant negotiations exhibit different characteristics. The findings are that small business tenants occupy on different terms to larger tenants including shorter terms and that the negotiation process is also different. Many small business tenants are unrepresented at the commercial stage of negotiations and take the first terms on offer. They are largely unaware of attempts to make them more informed by voluntary industry Codes of Practice. This can lead to small business tenants being unaware of the implications of certain terms within leases, hence the continuing Government concern over the issue.

Broader or deeper? Exploring the most effective intervention profile for public small business support

Most advanced economies offer publicly financed advice services to start-up firms and SMEs. In England, local or regional Business Links organisations have provided these services, and divided their support into nonintensive one-off contacts providing information or advice and more intensive support involving a diagnostic process and repeated interaction with firms. A key choice for Business Link managers is how to shape their intervention strategies, balancing resources between intensive and nonintensive support. Drawing on resource dependency theory, we develop a typology of intervention strategies for Business Links in England which reflects differences in the breadth and depth of the support provided. We then test the impacts of these alternative intervention models on client companies using both subjective assessments by firms and econometric treatment models that allow for selection bias. Our key empirical result is that Business Links’ choice of intervention strategy has a significant effect both on actual and on perceived business outcomes, with our results emphasising the value of depth over breadth. The implication is that where additional resources are available for business support these should be used to deepen the assistance provided rather than extend assistance to a wider group of firms.

Purchasing green transport and logistics services:implications for small business

Considering its strong environmental impact, logistics plays a critical role in green supply chain management. It provides strategic links in the supply chain and is an essential function in the delivery of green products to the consumer. There is a general consensus on the fact that more environmentally sustainable companies may be achieved only if transport and logistics activities also become greener. To achieve this objective, buyer companies need to incorporate green considerations in the purchasing of transport and logistics services. This appears particularly challenging for small and medium sized enterprises (SMEs) because of their traditional lack of managerial, organisational and financial resources that often result in failure to adopt an environmental perspective. In the extant literature, green purchasing has received increased attention over the past decade and the strategic importance of introducing green aspects into purchasing practices has been recognised. However, little has been written in relation to purchasing green transport and logistics services. The aim of this paper is to explore practices in the buying of green transport and logistics services and to derive implications for small buyer companies. The paper analyses how general environmental company ambitions and environmental purchasing practices are reflected when green transport and logistics services are purchased in three different European countries (Italy, Ireland and Sweden) using a multiple case study research approach. The results of the paper indicate that while the case companies show a relatively high concern for green issues at corporate level, a lower importance is attributed to green issues at the purchasing function level. When green concerns in the purchasing of transport and logistics services are analysed the level of importance decreases further. Thus, a conflicting attitude is evident between the overall corporate level and the purchasing of transport and logistics services specifically. This suggests that there is potential for improvement especially in the area of green collaboration in buyer and supplier relationships.

Bankruptcy Situation Model in Small Business: The Case of Restaurant Firms

The purpose of this paper is to describe and discuss the current bankruptcy prediction models. This is done in the context of pros and cons of proposed models to determine the appropriate factors of failure phenomenon in cases involving restaurants that have filed for bankruptcy under Chapter 11. A sample of 11 restaurant companies that filed for bankruptcy between 1993 and 2003 were identified from the Form 8-K reported to the Securities and Exchange Commission (SEC). By applying financial ratios retrieved from the annual reports which contain, income statements, balance sheets, statements of cash flows, and statements of stockholders’ equity (or deficit) to the Atlman’s mode, Springate model, and Fulmer’s model. The study found that Atlman’s model for the non-manufacturing industry provided the most accurate bankruptcy predictions.