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dc.contributor.authorBrown, Ross
dc.contributor.authorLee, Neil
dc.date.accessioned2020-08-20T23:37:59Z
dc.date.available2020-08-20T23:37:59Z
dc.date.issued2019-06
dc.identifier.citationBrown , R & Lee , N 2019 , ' Strapped for cash? Funding for UK high growth SMEs since the global financial crisis ' , Journal of Business Research , vol. 99 , pp. 37-45 . https://doi.org/10.1016/j.jbusres.2019.02.001en
dc.identifier.issn0148-2963
dc.identifier.otherPURE: 257592879
dc.identifier.otherPURE UUID: 9a937c1c-6b8c-48f4-97c3-10687556fb5b
dc.identifier.otherScopus: 85061834803
dc.identifier.otherWOS: 000468253300004
dc.identifier.otherORCID: /0000-0002-6164-7639/work/82179643
dc.identifier.urihttps://hdl.handle.net/10023/20494
dc.descriptionThe authors wish to thank the Institute for Chartered Accountants Scotland (ICAS) and the Scottish Accountancy Trust for Education and Research (SATER), now known as the ICAS Foundation (charity registered in Scotland SCO34836) for funding the research reported in this paper.en
dc.description.abstractWhile high growth firms (HGFs) are crucial drivers of economic growth, to date there has been a dearth of research examining their funding requirements. Drawing on a survey of over 8,000 UK Small and Medium Sized Enterprises (SMEs), this paper investigates the capital structure and access to credit in high growth SMEs in the period following the global financial crisis. The findings challenge conventional wisdom about high growth SMEs in certain respects. They find it no harder than non-high growth SMEs to access external finance. The vast majority of high growth SMEs rely strongly on debt-based finance for their funding, not equity finance. High growth SMEs are much less likely to seek finance for working capital purposes but are no more likely to seek finance to invest in R&D than less rapidly growing SMEs. The findings suggest little justification for government intervention aimed at increasing credit availability for HGFs as currently espoused by the UK government.
dc.language.isoeng
dc.relation.ispartofJournal of Business Researchen
dc.rightsCopyright © 2019, Elsevier Inc. This work is made available online in accordance with the publisher’s policies. This is the author created, accepted version manuscript following peer review and may differ slightly from the final published version. The final published version of this work is available at https://doi.org/10.1016/j.jbusres.2019.02.001en
dc.subjectEntrepreneurshipen
dc.subjectSMEsen
dc.subjectGazellesen
dc.subjectInnovationen
dc.subjectAccess to financeen
dc.subjectPolicyen
dc.subjectHG Financeen
dc.subject3rd-NDASen
dc.subjectSDG 8 - Decent Work and Economic Growthen
dc.subject.lccHGen
dc.titleStrapped for cash? Funding for UK high growth SMEs since the global financial crisisen
dc.typeJournal articleen
dc.description.versionPostprinten
dc.contributor.institutionUniversity of St Andrews. Centre for the Study of Philanthropy & Public Gooden
dc.contributor.institutionUniversity of St Andrews. Centre for Responsible Banking and Financeen
dc.contributor.institutionUniversity of St Andrews. School of Managementen
dc.identifier.doihttps://doi.org/10.1016/j.jbusres.2019.02.001
dc.description.statusPeer revieweden
dc.date.embargoedUntil2020-08-21
dc.identifier.urlhttps://www.sciencedirect.com/science/article/pii/S0148296319300918?dgcid=authoren


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