Entrepreneurship Small And Medium Sized Enterprises And The Macroeconomy

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Entrepreneurship, Small and Medium-Sized Enterprises and the Macroeconomy

Author : Zoltan J. Acs
Publisher : Cambridge University Press
ISBN 13 : 9780521621052
Total Pages : 426 pages
Book Rating : 4.6/5 (21 download)

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Book Synopsis Entrepreneurship, Small and Medium-Sized Enterprises and the Macroeconomy by : Zoltan J. Acs

Download or read book Entrepreneurship, Small and Medium-Sized Enterprises and the Macroeconomy written by Zoltan J. Acs and published by Cambridge University Press. This book was released on 1999 with total page 426 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book was originally published in 1999. At this time, the US economy had recently restructured itself, moving away from an industrial economy towards one based on information, while the European Union and Japan were left to worry about rising government deficits, inflexible businesses, persistent unemployment, and workers inadequately trained for the information age. Why did the US economy move beyond its chief competitors? This collection suggests that at least some of the answers to the pattern of divergent development can be found in the role of the entrepreneur. By examining the process that entrepreneurs play in the economy, the essays in this volume make a fundamental contribution to our understanding of the macroeconomy. Each chapter clarifies the role of entrepreneur in economic theory, the function of small and medium-size enterprises that they found and build and the impact of the innovations introduced on employment, productivity, and economic growth.

The role of small and medium-sized enterprises (SMEs) in Europe's economy

Author : Svetlana Shirobakina
Publisher : GRIN Verlag
ISBN 13 : 3638521869
Total Pages : 18 pages
Book Rating : 4.6/5 (385 download)

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Book Synopsis The role of small and medium-sized enterprises (SMEs) in Europe's economy by : Svetlana Shirobakina

Download or read book The role of small and medium-sized enterprises (SMEs) in Europe's economy written by Svetlana Shirobakina and published by GRIN Verlag. This book was released on 2006-07-18 with total page 18 pages. Available in PDF, EPUB and Kindle. Book excerpt: Essay from the year 2004 in the subject Business economics - Miscellaneous, grade: 1,3, University of Lincoln, course: B.A. European Business, language: English, abstract: The Lisbon European Council of March 2000 set the European Union a new strategic objective for the coming years:to become the most competitive and dynamic knowledge-based economy in the world, capable of sustained economic growth with more and better jobs and greater social cohesion. It is considered that Europe’s competitiveness and economic progress is strong dependent on its small and medium-sized enterprises, which are the key-source for job creating as well as for searching for new business ideas and innovative solutions, its main driver for entrepreneurship. For this reason, the European Council endorsed the “think small first” principle as one way to progress towards the Lisbon objectives. The idea of the small business has captured the imagination of the public and politicians over past years. They agree in the point that to meet the challenge of new integrated Europe requires a better business environment within the Internal Market, including the lightest possible administrative and regulatory burdens for small businesses and a better access to finance resources as well as creating of simple and effective legislation. It also requires a revolution in attitudes to entrepreneurship and to risk-taking processes, which will allow viewing failure as a part of experience, as an “opportunity to learn” from mistakes. They also emphasise the fact that small enterprises are normally more sensitive to changes in the business environment than large firms. They are the first to suffer if weighed down with excessive bureaucracy and creating new administrative burdens. And they are the first to flourish from initiatives such as decrease in taxation rate and promotion. My essay aims to answer the question to what extent the EU’s main market integration initiatives address the needs of SME’s and what should be done on the way to developing strong, competitive SMEs which would use all benefits from the Single European Market. It is important to define what we mean by SMEs before proceeding to answer these questions. For the purpose of this essay, SMEs are defined as non-subsidiary, independent firms, which employ less than 250 employees. We have to take into account the fact that this number may vary across national statistical systems. [...]

Small and Medium-sized Enterprises and the Global Economy

Author : Gerald I. Susman
Publisher : Edward Elgar Publishing
ISBN 13 : 1847204430
Total Pages : 359 pages
Book Rating : 4.8/5 (472 download)

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Book Synopsis Small and Medium-sized Enterprises and the Global Economy by : Gerald I. Susman

Download or read book Small and Medium-sized Enterprises and the Global Economy written by Gerald I. Susman and published by Edward Elgar Publishing. This book was released on 2007-01-01 with total page 359 pages. Available in PDF, EPUB and Kindle. Book excerpt: Globalization has jarred the traditional role and competitiveness of small- and medium-sized enterprises. This masterful volume comprises leading scholars, policy makers and business leaders who have new insights and strategies for SMEs creating opportunities rather than being victims of globalization. The result is a breakthrough in our understanding of entrepreneurship in the global context. David B. Audretsch, Indiana University, Bloomington, US and WHU, Germany Small and medium-sized enterprises (SMEs) often have difficulty competing in the global economy unless they collaborate with domestic or foreign partners or with public sector organizations. This book addresses the resource leverage and innovation challenges that increased global trade represents for SMEs. In doing so, it explores how SMEs can become more competitive at home and in foreign markets as stand-alone firms or as members of supplier and customer networks. SMEs are turning increasingly to innovation as a source of competitive advantage in order to protect their home markets and participate in expanding foreign markets. The contributors to this volume leading experts in entrepreneurship, innovation, and international business provide in-depth coverage of the most compelling issues facing SMEs. These include: innovation as a competitive strategy, network dynamics, ways to leverage technology, internationalization, and the role of the public sector in helping SMEs to overcome resource deficiencies. This comprehensive look at SMEs in the global marketplace will be of great interest to academics who study entrepreneurship, innovation, or international business, officials from public sector agencies with responsibility for helping SMEs to internationalize and become more innovative, and senior executives of SMEs or executives of larger companies who are considering collaboration with SMEs.

International Growth of Small and Medium Enterprises

Author : Niina Nummela
Publisher : Routledge
ISBN 13 : 1136906436
Total Pages : 327 pages
Book Rating : 4.1/5 (369 download)

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Book Synopsis International Growth of Small and Medium Enterprises by : Niina Nummela

Download or read book International Growth of Small and Medium Enterprises written by Niina Nummela and published by Routledge. This book was released on 2010-10-04 with total page 327 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides a comprehensive overview of international growth of SMEs from diverse points of view. It verifies that SMEs in all parts of the globe share similar characteristics, yet differ significantly. New explanations for this emerge, and although seminal concepts still remain powerful, their proper use requires new interpretations.

Small and Medium-Sized Enterprises in the Global Economy

Author : Zoltan J. Acs
Publisher : University of Michigan Press
ISBN 13 : 0472027220
Total Pages : 192 pages
Book Rating : 4.4/5 (72 download)

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Book Synopsis Small and Medium-Sized Enterprises in the Global Economy by : Zoltan J. Acs

Download or read book Small and Medium-Sized Enterprises in the Global Economy written by Zoltan J. Acs and published by University of Michigan Press. This book was released on 2010-08-10 with total page 192 pages. Available in PDF, EPUB and Kindle. Book excerpt: Entrepreneurship and globalization are two much-examined forces as we enter the new millennium--yet very little has been published on the intersection of small and medium-sized enterprises (SMEs) and the global economy. To close the gap, this volume delves into the intricate roles and consequences of such businesses on both global and domestic economies. The first part of the volume provides an overview of the phenomenon of globalization, arguing that entrepreneurial discovery and technological change lead to globalization, which in turn leads to further opportunity for entrepreneurial discovery--no less for SMEs than for multinational corporations. In part two, the essays examine the role of SMEs in the global economy and why they are thriving. Part three reviews the roles of SMEs and innovators and examines their roles in direct foreign investment. Part four explores the role of technological diversity and knowledge spillovers as a way to explain the superior innovative performance of SMEs. Part five looks at the role of SMEs in technology transfer. Finally, part six examines the theoretical and policy implications of the international activities of SMEs, suggesting that policies should aim to reduce the costs in international expansion for SMEs. This volume will provide the foundation for further study in SMEs and globalization. It will appeal to scholars and students in both international business and economics. Zoltan J. Acs is Professor of Economics and Finance, University of Baltimore. Bernard Yin Yeung is Professor of International Business, University of Michigan.

New Challenges in Entrepreneurship and Finance

Author : Marta Peris-Ortiz
Publisher : Springer
ISBN 13 : 3319088882
Total Pages : 271 pages
Book Rating : 4.3/5 (19 download)

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Book Synopsis New Challenges in Entrepreneurship and Finance by : Marta Peris-Ortiz

Download or read book New Challenges in Entrepreneurship and Finance written by Marta Peris-Ortiz and published by Springer. This book was released on 2014-10-24 with total page 271 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since the 2008 economic crisis, small and medium-sized enterprises (SMEs) have faced serious financial problems and have been looking to financial institutions and governments for solutions and new proposals to address these issues. This book examines the new challenge in which firms receive sustainable funding that is in alignment with the company’s spending capacity. The purpose of this book is to examine the main theoretical issues and practices regarding entrepreneurship and finance and their impact on performance, innovation and economic growth. It analyzes the fundamental aspects of entrepreneurship and studies ways in which financial institutions can better fulfill their primary function of feeding capital to businesses and the economy as a whole. Entrepreneurship and finance are fundamental to achieving success in economic and social activities. SMEs’ existence and development depend on the initiatives of entrepreneurship and access to resources, especially those of a financial nature. During the recent economic crisis, several new financing instruments have appeared, especially with structures designed for helping SMEs make their way out of the recession. This book explores some of these tools in various global economies, such as France and Spain, providing an international, multidimensional perspective.

Are Small Firms Important? Their Role and Impact

Author : Stephen Ackermann
Publisher : Springer Science & Business Media
ISBN 13 : 1461551730
Total Pages : 180 pages
Book Rating : 4.4/5 (615 download)

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Book Synopsis Are Small Firms Important? Their Role and Impact by : Stephen Ackermann

Download or read book Are Small Firms Important? Their Role and Impact written by Stephen Ackermann and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 180 pages. Available in PDF, EPUB and Kindle. Book excerpt: Are Small Firms Important? Their Role and Impact proposes and supports the claim that small firms make two indispensable contributions to the economy. First, they are an integral part of the renewal process that pervades market economies. New and small firms play a crucial role in experimentation and innovation that leads to technological change, productivity and economic growth. Second, small firms are the essential mechanism by which millions enter the economic and social mainstream of American society. The public policy implications for sustained economic growth and social well-being is the continued high-level creation of new and small firms by all segments of society. It should be the role of government policy to facilitate that process by eliminating entry barriers, lowering transaction costs, and minimizing regulation.

Innovation, Entrepreneurship, and the Economy in the US, China, and India

Author : Rajiv Shah
Publisher : Academic Press
ISBN 13 : 0128018658
Total Pages : 415 pages
Book Rating : 4.1/5 (28 download)

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Book Synopsis Innovation, Entrepreneurship, and the Economy in the US, China, and India by : Rajiv Shah

Download or read book Innovation, Entrepreneurship, and the Economy in the US, China, and India written by Rajiv Shah and published by Academic Press. This book was released on 2014-10-07 with total page 415 pages. Available in PDF, EPUB and Kindle. Book excerpt: What drives innovation and entrepreneurship in India, China, and the United States? Our data-rich and evidence-based exploration of relationships among innovation, entrepreneurship, and economic growth yields theoretical models of economic growth in the context of macroeconomic factors. Because we know far too little about the key characteristics of Chinese and Indian entrepreneurs and the ways they innovate, our balanced, systematic comparison of entrepreneurship and innovation results in a new approach to looking at economic growth that can be used to model empirical data from other countries. The importance of innovation and entrepreneurship to any economy has been recognized since the pioneering work of Joseph Schumpeter. Our analysis of the major factors that affect innovation and entrepreneurship in these three parts of the world – US, China and India –provides a comprehensive view of their effects and their likely futures. Looks at elements important for innovation and entrepreneurship and compares them against each other within the three countries Places theoretical modeling of economic growth in the context of the overall macroeconomic factors Explores questions about the relationships among innovation, entrepreneurship and economic growth in China, India and the US

Entrepreneurship and Local Economic Development

Author : Bruno Dallago
Publisher : Routledge
ISBN 13 : 1351256033
Total Pages : 348 pages
Book Rating : 4.3/5 (512 download)

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Book Synopsis Entrepreneurship and Local Economic Development by : Bruno Dallago

Download or read book Entrepreneurship and Local Economic Development written by Bruno Dallago and published by Routledge. This book was released on 2018-09-05 with total page 348 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book focuses on the nature and role of entrepreneurship in modern developed and emerging economies and societies, its relation to governments and universities, and its role in the often-forgotten informal economy. The aim is to position entrepreneurship in the post-crisis context and explore how its relation to universities and governments contributes to explain the countries’ and territories’ growth performance and resilience or vulnerability to the crisis. The accent is particularly on processes and patterns at local level and in small and medium-sized enterprises in local economic systems and districts, local systems of innovation, and the types and configurations of innovation these give origin to. With globalization, entrepreneurship has become fundamental for the competitiveness of territories and countries, for policy management and for development. The local dimension is fundamental because of agglomeration economies and effects, the advantages of proximity and the nature of knowledge and information. Furthermore, territories carry to the centre-stage tacit knowledge, localized social capital, embeddedness and interpersonal relations as fundamental components of their endogenous socio-economic development and competitiveness. When local systems are connected in a horizontal network, they contribute to the strength of national and international systems. To play a constructive role from this perspective, entrepreneurship must avoid local entrenchment and support the local economy to upgrade and be competitive. To do this, the entrepreneurs’ interaction and alliance with universities and governments is a must for those countries and localities wanting to emerge. This requires that enterprises, universities and governments create synergies and spill-overs to their mutual advantage.

Small Firms and Entrepreneurship in Central and Eastern Europe

Author : Oliver Pfirrmann
Publisher : Springer Science & Business Media
ISBN 13 : 3642574602
Total Pages : 323 pages
Book Rating : 4.6/5 (425 download)

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Book Synopsis Small Firms and Entrepreneurship in Central and Eastern Europe by : Oliver Pfirrmann

Download or read book Small Firms and Entrepreneurship in Central and Eastern Europe written by Oliver Pfirrmann and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 323 pages. Available in PDF, EPUB and Kindle. Book excerpt: Much of the research on transformation/transition in Central and Eastern European Countries (CEECs) focuses on macroeconomic issues (inflation, economic growth, employment ...). Little research has been devoted so far to microeconomic analysis. Recently the issue of new enterprises and firm founders has moved to the centre of economic and policy considerations. Readers of this book will learn about the role played by these firms in the transformation of central and eastern European countries. The book also includes contributions from Central and Eastern Europe on which little or no investigation has been performed until now (Yugoslavia, Romania, Slovakia).

Promoting Entrepreneurship and Innovative SMEs in a Global Economy

Author : OECD
Publisher : OECD Publishing
ISBN 13 : 9264044353
Total Pages : 44 pages
Book Rating : 4.2/5 (64 download)

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Book Synopsis Promoting Entrepreneurship and Innovative SMEs in a Global Economy by : OECD

Download or read book Promoting Entrepreneurship and Innovative SMEs in a Global Economy written by OECD and published by OECD Publishing. This book was released on 2008-01-03 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Small and medium-sized enterprises in the European Union: development challenges in 2014-2020 perspective

Author : Marek Matejun
Publisher : Lodz University of Technology
ISBN 13 : 8372836256
Total Pages : 163 pages
Book Rating : 4.3/5 (728 download)

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Book Synopsis Small and medium-sized enterprises in the European Union: development challenges in 2014-2020 perspective by : Marek Matejun

Download or read book Small and medium-sized enterprises in the European Union: development challenges in 2014-2020 perspective written by Marek Matejun and published by Lodz University of Technology. This book was released on 2014-10-01 with total page 163 pages. Available in PDF, EPUB and Kindle. Book excerpt: For many years, small and medium-sized enterprises have occupied an important place in the strategy of socio-economic development of the European Union. This is due to the fact that these entities have many important functions related to, among others, creating a significant share of the national income and jobs, introducing innovations and causing many other effects that positively influence the level of competitiveness of the European economy. In order to ensure favorable conditions for the development of the SME sector in the European Union at the central level, as well as at the level of individual countries and regions, numerous assistance programs are developed in the form of specific support instruments available for the smallest entities. Currently, the European Union is entering the new 2014-2020 programming period, which is associated with the implementation of the principles of the Europe 2020 Strategy. This perspective will be associated with the possibility of the participation of entrepreneurs in a number of projects and the use of many support instruments, both financial, as well as non-financial. As in the previous years, however, certain actions will have to be taken and the acquisition of specific skills useful in efforts to absorb the EU assistance will be required. At the same time, exploiting the potential of the environment in the 2014-2020 perspective will be associated with changes in the conditions for the functioning and development of many European small and medium-sized enterprises. The monograph is devoted to the above-presented matters. Its aim is the presentation, analysis and evaluation of selected issues which, according to the authors, will be important for development processes of small and medium-sized enterprises in the 2014-2020 perspective. The book consists of fourteen chapters, which are divided thematically into three separate parts. The first part concentrates on the external conditions for the development of small and medium-sized enterprises in the latest strategic perspective of the European Union. The second part of the monograph emphasizes the challenges and changes in management systems which will largely determine the functioning of the SME sector in the coming years. The third, and last, part of the monograph focuses on selected determinants of building the competitiveness of businesses in the SME sector. The monograph is addressed primarily to managers and owners of small and medium-sized enterprises, along with undergraduate and graduate students, as well as post-graduate business students. At the same time, we hope that this book will be also appreciated in the scientific community, enriching the debate on the future challenges in managing the development of small and medium-sized enterprises, as well as inspiring discussion and further research in this field.

Successes and Difficulties of Small Innovative Firms in Russian Nuclear Cities

Author : Institute of Physics and Power Engineering, Obninsk, Russia
Publisher : National Academies Press
ISBN 13 : 0309182719
Total Pages : 256 pages
Book Rating : 4.3/5 (91 download)

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Book Synopsis Successes and Difficulties of Small Innovative Firms in Russian Nuclear Cities by : Institute of Physics and Power Engineering, Obninsk, Russia

Download or read book Successes and Difficulties of Small Innovative Firms in Russian Nuclear Cities written by Institute of Physics and Power Engineering, Obninsk, Russia and published by National Academies Press. This book was released on 2002-06-06 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt: This workshop report focuses on successes and failures of small innovative firms in five science cities in Russia. The workshop was organized by the NRC with the cooperation of Minatom.

The Changing Global Economy and its Impact on International Entrepreneurship

Author : Hamid Etemad
Publisher : Edward Elgar Publishing
ISBN 13 : 1783479841
Total Pages : 330 pages
Book Rating : 4.7/5 (834 download)

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Book Synopsis The Changing Global Economy and its Impact on International Entrepreneurship by : Hamid Etemad

Download or read book The Changing Global Economy and its Impact on International Entrepreneurship written by Hamid Etemad and published by Edward Elgar Publishing. This book was released on 2016-05-27 with total page 330 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Changing Global Economy and its Impact on International Entrepreneurshipaddresses different changes and challenges that small and medium sized enterprises (SMEs) face in an economy where they need to compete at home and cannot refrain from participating in international markets. Contributors examine diverse SMEs that have succeeded in the face of adversity. They offer a combination of practical strategies and efficient tactics, grounded in solid theory and research, for firms in different competitive industries. This volume presents a collection of 12 carefully selected chapters that highlight challenging real-world cases to illustrate a variety of difficult problems. Hamid Etemad presents an analytical framework with three levels of analysis - entrepreneurial level, firm level, and institutional level - to document comprehensive, realistic and experientially-based entrepreneurial initiatives, potent firm and public policy strategies and informative and applicable results. The interactive structural design of this book offers progressively higher levels of analysis and incisive lessons, which make it perfect for academics interested in the rich range of theories, methodologies and topics surrounding SMEs' internationalization processes. Its analysis will also inform management and effective policy formulation for entrepreneurs, managers, and policymakers. Contributors:J. Almarri, S. Aureli, L. Battaglia, E. Cedrola, M. Del Baldo, S. Denicolai, N. Dominguez, H. Etemad, B. Hagen, E.J.B. Jørgensen, K. Juusola, D. Kabbara, S. Kock, H. Le Nguyen, J.I.G. Meewella, M. Migliaccio, A.G. Quaranta, E. Rasmussen, F. Rivetti, V. Stanisauskaite, I. Wictor, A. Zucchella

Who Creates New Firms When Local Opportunities Arise?

Author : Shai Bernstein
Publisher : International Monetary Fund
ISBN 13 : 1484379322
Total Pages : 74 pages
Book Rating : 4.4/5 (843 download)

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Book Synopsis Who Creates New Firms When Local Opportunities Arise? by : Shai Bernstein

Download or read book Who Creates New Firms When Local Opportunities Arise? written by Shai Bernstein and published by International Monetary Fund. This book was released on 2018-10-01 with total page 74 pages. Available in PDF, EPUB and Kindle. Book excerpt: New firm formation is a critical driver of job creation, and an important contributor to the responsiveness of the economy to aggregate shocks. In this paper we examine the characteristics of the individuals who become entrepreneurs when local opportunities arise due to an increase in local demand. We identify local demand shocks by linking fluctuations in global commodity prices to municipality level agricultural endowments in Brazil. We find that the firm creation response is almost entirely driven by young and skilled individuals, as measured by their level of experience, education, and past occupations involving creativity, problem-solving and managerial roles. In contrast, we find no such response within the same municipalities among skilled, yet older individuals, highlighting the importance of lifecycle considerations. These responsive individuals are younger and more skilled than the average entrepreneur in the population. The entrepreneurial response of young individuals is larger in municipalities with better access to finance, and in municipalities with more skilled human capital. These results highlight how the characteristics of the local population can have a significant impact on the entrepreneurial responsiveness of the economy.

The Future Path of SMEs

Author : Amr Sukkar
Publisher : Business Expert Press
ISBN 13 : 1637422822
Total Pages : 198 pages
Book Rating : 4.6/5 (374 download)

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Book Synopsis The Future Path of SMEs by : Amr Sukkar

Download or read book The Future Path of SMEs written by Amr Sukkar and published by Business Expert Press. This book was released on 2022-08-08 with total page 198 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book tries to support the elaboration and implementation of strategies and to foster SMEs and entrepreneurship development. Most of businesses fall within the category of start-up, small and medium size enterprises. Therefore, governments in part of their quest to reform the economy and related regulatory management systems as well as the entrepreneurship support ecosystem. This was done with a view to securing the national governance empowerment deemed necessary for the economic and political fostering, adaptation, growth and progress of this sector. These endeavors serve as an essential part of the economic reform needed to generally guide the economy to a balanced and sustained growth vision. This vision aims specifically at achieving a balanced and diversified skill-based economy that is ultimately dependent on knowledge, innovation and competitiveness. This obviously arises from the ventures of entrepreneurs, startups as well as small and medium size enterprises (SMEs). In this context, this book tries to support the elaboration and implementation of strategies and to foster SMEs and entrepreneurship development. This will include contribution to set a guide to illustrate the scientific way for the identification of stakeholders and dialogue platforms as well as the institutionalization of the processes and systems required to improve the regulatory framework for SME development. The book also provides the consultancy effort needed to support governments in setting targets for SME policy development and to identify strategic priorities to further improve the business environment.

Resourcing Small and Medium Sized Enterprises

Author : Ciarán Mac an Bhaird
Publisher : Springer Science & Business Media
ISBN 13 : 3790823996
Total Pages : 223 pages
Book Rating : 4.7/5 (98 download)

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Book Synopsis Resourcing Small and Medium Sized Enterprises by : Ciarán Mac an Bhaird

Download or read book Resourcing Small and Medium Sized Enterprises written by Ciarán Mac an Bhaird and published by Springer Science & Business Media. This book was released on 2010-03-17 with total page 223 pages. Available in PDF, EPUB and Kindle. Book excerpt: In a world of increasing financial uncertainty and growing unemployment, the macroeconomic contribution of SMEs is more important than ever. Development of a vibrant, sustainable small firm sector is dependent on sufficient resourcing of SMEs, particularly adequate capitalisation. This book provides a timely examination of SME financing and determinants of capital structure. A special feature of this book is the novel methodological approach adopted, providing an innovative perspective on SME financing. Analysis of stated financing preferences and objectives of SME owners is combined with results of statistical analysis of firm characteristics in exploring holistic explanations for observed capital structures. The uniqueness of this approach is in the contribution of data on financing preferences to supplement and contextualise results of bivariate and multivariate statistical tests. This methodology extends the SME literature, and is of interest to academics, researchers, practitioners and policy makers.