UK Survey of SME Finances 2009 Follow On Study
Lead Research Organisation:
University of Warwick
Department Name: Warwick Business School
Abstract
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Organisations
People |
ORCID iD |
William Fraser (Principal Investigator) |
Publications
Fraser S
(2011)
Access to Finance for Creative Industry Businesses
Stuart Fraser (Author)
(2012)
Is there ethnic discrimination in the market for small business credit?
Fraser S
(2019)
Entrepreneurial Borrowing: Do Entrepreneurs Seek and Receive Enough Credit?
in Foundations and TrendsĀ® in Entrepreneurship
Description | Citation by David Cameron |
Geographic Reach | National |
Policy Influence Type | Citation in other policy documents |
Impact | The findings and analysis of EMB finance research was a major influence on the activities and recommendations proposed by Ethnic Minority Business Taskforce which was set up in 2007, for two years, under the Labour Government as a strategic influencing body to inform UK government policy and progress the Black, Asian and Minority Ethnic (BAME) business agenda. The research reported in Fraser (2009) drew attention to the Taskforce that: Black owned businesses are significantly more likely to be denied loans and pay higher loan margins than White owned businesses; but that these differences can be explained by non-ethnic risk factors such as higher rates of missed loan repayments and unauthorised overdraft borrowing ('financial delinquency'). The research helped to inform the Taskforce's recommendations proposed to the BIS on dealing with the underlying causes of financial delinquency such as poor financial skills, to which the Government published a response in its 2009 report 'The Government's Response to the Ethnic Minority Business Taskforce'. Developments in strategy and practice were implemented in light of the research to improve information flows from banks to businesses about the criteria used to make credit assessments. |
URL | http://www.theguardian.com/politics/wintour-and-watt/2010/mar/17/davidcameron-conservatives |
Description | Citation in BIS Finance Green Paper, 'Financing a Private Sector' (July 2010) |
Geographic Reach | National |
Policy Influence Type | Citation in other policy documents |
Impact | Research findings formed part of the evidence in relation to SME finances presented in the BIS Finance Green Paper, 'Financing a Private Sector' (July 2010). |
URL | https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/31975/10-1081-financing-pr... |
Description | Citation in Breedon Taskforce 2012 |
Geographic Reach | National |
Policy Influence Type | Citation in other policy documents |
Impact | UKSMEF research influenced the Breedon Taskforce's 2012 examination and proposals to BIS on boosting finance options for businesses. The research provided the Breedon Taskforce with important evidence regarding the tightening of bank lending to SMEs following the financial crisis and underpinned the recommendations made by the Taskforce to promote non-bank sources of finance to boost SME finance options. |
URL | http://www.bis.gov.uk/assets/biscore/enterprise/docs/b/12-668-boosting-finance-options-for-business |
Description | Citation in Creative Industries Council: Access to Finance Working Group Report |
Geographic Reach | National |
Policy Influence Type | Citation in other policy documents |
Impact | The research also helped to inform debate among Government and creative industries stakeholders of CIB's ability to obtain finances by identifying the areas of differences in CIB's access to finance compared to other businesses. The CIB report (2011) highlighted that some creative content sectors e.g., Software and Publishing are more likely to have their finance applications rejected than non-CIBs with similar risk profiles leading to lower growth. The research formed the basis of for further focused investigation and discussion by the Creative Industries Council (CIC), a joint forum between the Creative Industries and Government; which led to the publication of the Creative Industries Council Access to Finance Working Group report (2011). The research was pivotal to the discussion contained within the report and its recommended initiatives were designed to address the finance situation of CIBs as highlighted in the research. |
URL | http://applications.creativeengland.co.uk/assets/public/resource/38.pdf |
Description | Citation in The Government's Response to the Ethnic Minority Business Taskforce (2009) |
Geographic Reach | National |
Policy Influence Type | Citation in other policy documents |
Impact | The UK Government's responses to the issues raised by the Ethnic Minority Business Taskforce, including the issues raised originally in Dr Fraser's research, are reported in 'The Government's Response to the Ethnic Minority Business Taskforce' (3 November 2009). The policy recommendations adopted the findings and implications contained in Dr Fraser's research and included actions to: establish a regional business mentoring network for EMBs; providing advice on access to finance via the website of James Caan/the BBC Dragon's Den portal; and promoting fairness in banking. |
URL | http://webarchive.nationalarchives.gov.uk/+/bis.gov.uk/policies/enterprise-and-business-support/wide... |
Description | Are entrepreneurs financially constrained? |
Form Of Engagement Activity | A talk or presentation |
Part Of Official Scheme? | No |
Geographic Reach | National |
Primary Audience | Policymakers/politicians |
Results and Impact | Paper presented as invited speaker at the Central Bank of Ireland |
Year(s) Of Engagement Activity | 2012 |
Description | Developments in small business finance markets : evidence from the UK survey of SME finances |
Form Of Engagement Activity | Participation in an activity, workshop or similar |
Part Of Official Scheme? | No |
Geographic Reach | National |
Primary Audience | Policymakers/politicians |
Results and Impact | Presentation given to a seminar hosted by the Department for Business Innovation and Skills: 'Going for Growth: Small business, risk, and finance for the upturn'. The presentation gave early evidence on the state of the market for SME finance in 2009 using data from UKSMEF 2009. The findings highlighted a continuing downward trend in the demand for finance and an increase in overdraft rejections in 2009. The analysis also pointed to low confidence among both credit officers and business owners. |
Year(s) Of Engagement Activity | 2010 |
Description | Guest speaker at a BIS ministerial presentation |
Form Of Engagement Activity | A talk or presentation |
Part Of Official Scheme? | No |
Geographic Reach | National |
Primary Audience | Policymakers/politicians |
Results and Impact | In February 2010 I was a guest speaker at a BIS ministerial presentation hosted by Lord Sugar (former Enterprise Champion) and Lord Davies (Labour Small Business Minister) where I presented my research findings. |
Year(s) Of Engagement Activity | 2010 |
Description | UK survey of SME finances (UKSMEF) : key issues and policy implications |
Form Of Engagement Activity | Participation in an activity, workshop or similar |
Part Of Official Scheme? | No |
Geographic Reach | Regional |
Primary Audience | Industry/Business |
Results and Impact | Presentation at De-Montfort University to disseminate key findings of UKSMEF. |
Year(s) Of Engagement Activity | 2011 |