Entrepreneurship is a backbone of economy. They are playing vital role of increase the industrial sector as well as economic growth of country. Entrepreneurs are driven to achieve success in their business along with the qualities of a entrepreneurs. They saw the bigger picture but wisely started their business as a very small unit. Entrepreneurs set the example of turning their dream into reality. The MSMEs play a crucial role in the Indian economy, structure due to its significant contribution in terms of output, export and employment. So they are engine of growth. They also help to mitigate the poverty.
{"title":"Micro, Small and Medium Enterprises – A Case Study of Maharashtra","authors":"Dr. Bilas Kale","doi":"10.2139/SSRN.2721566","DOIUrl":"https://doi.org/10.2139/SSRN.2721566","url":null,"abstract":"Entrepreneurship is a backbone of economy. They are playing vital role of increase the industrial sector as well as economic growth of country. Entrepreneurs are driven to achieve success in their business along with the qualities of a entrepreneurs. They saw the bigger picture but wisely started their business as a very small unit. Entrepreneurs set the example of turning their dream into reality. The MSMEs play a crucial role in the Indian economy, structure due to its significant contribution in terms of output, export and employment. So they are engine of growth. They also help to mitigate the poverty.","PeriodicalId":147967,"journal":{"name":"ERPN: Economic Systems (Sub-Topic)","volume":"19 5","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2015-08-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132835936","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2014-05-01DOI: 10.18510/IJSRTM.2014.231
Firdouse R Khan
Entrepreneurship Development makes a powerful impact on the economic development of the country. The success of the entrepreneur depends on the environmental factors such as social, economic, legal, political and technological factors which influence their activities thus leading to successful entrepreneurship. The socio-economic factors are the major key factors influencing the entrepreneurial behavior and operation of the business and thus the need for the study and the due influence. This paper analyzes the impact of socio-economic factors in relevance to entrepreneurship development of Small and Medium Enterprises (SMEs) across Chennai, Tamil Nadu State, India.This paper attempts to explain the infrastructure that has to be developed in order to cultivate the quality of leadership among potential enterprising young men. Attempts are being made to inculcate the spirit of entrepreneurship. Our empirical results reveal that most of the selected entrepreneurs of SMEs perceive the relevance of these factors to the highest degree. They are tempted to enter the entrepreneurship sector because of the perceived opportunities available to make appreciable profit. The study also reveals that the factors which are not considered to be of high importance in the bygone days, such as Education, Religion, Previous Experience, Family Type and Legal Status have significant influence on the entrepreneurial behavior and the operational performance of the selected SMEs’ business, in the recent period. Thus, there exists necessity for the Government and the related sponsoring institutions to look into these factors and encourage the young entrepreneurs who in turn will render their full support towards national economy.
{"title":"Socio-Economic Factors Influencing Entrepreneurship Development: An Empirical Study Across the Small and Medium Enterprises of Chennai, State of Tamil Nadu, India","authors":"Firdouse R Khan","doi":"10.18510/IJSRTM.2014.231","DOIUrl":"https://doi.org/10.18510/IJSRTM.2014.231","url":null,"abstract":"Entrepreneurship Development makes a powerful impact on the economic development of the country. The success of the entrepreneur depends on the environmental factors such as social, economic, legal, political and technological factors which influence their activities thus leading to successful entrepreneurship. The socio-economic factors are the major key factors influencing the entrepreneurial behavior and operation of the business and thus the need for the study and the due influence. This paper analyzes the impact of socio-economic factors in relevance to entrepreneurship development of Small and Medium Enterprises (SMEs) across Chennai, Tamil Nadu State, India.This paper attempts to explain the infrastructure that has to be developed in order to cultivate the quality of leadership among potential enterprising young men. Attempts are being made to inculcate the spirit of entrepreneurship. Our empirical results reveal that most of the selected entrepreneurs of SMEs perceive the relevance of these factors to the highest degree. They are tempted to enter the entrepreneurship sector because of the perceived opportunities available to make appreciable profit. The study also reveals that the factors which are not considered to be of high importance in the bygone days, such as Education, Religion, Previous Experience, Family Type and Legal Status have significant influence on the entrepreneurial behavior and the operational performance of the selected SMEs’ business, in the recent period. Thus, there exists necessity for the Government and the related sponsoring institutions to look into these factors and encourage the young entrepreneurs who in turn will render their full support towards national economy.","PeriodicalId":147967,"journal":{"name":"ERPN: Economic Systems (Sub-Topic)","volume":"10 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2014-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131909004","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
In the extant literature, the effect of entrepreneurship on income distribution is ambiguous and entrepreneurial propensity in the form of new firm entry has not been addressed empirically. We develop a framework combining the Kirznerian and Schumpeterian views of entrepreneurship to illustrate the opposing income-distributive effects of new firm entry. Using data on 32 developing and advanced economies, we found income inequality (as measured by GGini coefficient) values are regressed on lagged values of firm entry rates. Income inequality is found to increase with the rate of new firm entry, with the effect being mitigated by rising levels of national income. Policy implications for developing economies are discussed.
{"title":"An Exploratory Cross-Country Analysis of the Relationship between Entrepreneurial Propensity and Income Inequality","authors":"P. Wong, Y. Ho","doi":"10.2139/ssrn.2383728","DOIUrl":"https://doi.org/10.2139/ssrn.2383728","url":null,"abstract":"In the extant literature, the effect of entrepreneurship on income distribution is ambiguous and entrepreneurial propensity in the form of new firm entry has not been addressed empirically. We develop a framework combining the Kirznerian and Schumpeterian views of entrepreneurship to illustrate the opposing income-distributive effects of new firm entry. Using data on 32 developing and advanced economies, we found income inequality (as measured by GGini coefficient) values are regressed on lagged values of firm entry rates. Income inequality is found to increase with the rate of new firm entry, with the effect being mitigated by rising levels of national income. Policy implications for developing economies are discussed.","PeriodicalId":147967,"journal":{"name":"ERPN: Economic Systems (Sub-Topic)","volume":"07 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2014-01-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127214465","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Using data from 2000 to 2007, we investigate the e§ect of bank concentration on the entrepreneurial initiative in the Central and Eastern European transition countries for eight industrial sectors. We set up a simple structural model by which we test the relationship between banking market structure and Orm cre- ation. First, we estimate the model on the whole sample, to test the general e§ect; then, we restrict the analysis to the high-technology-intensive sectors to verify the speciOc impact of banking market structure on industries which are, usually, more in need of external Onance. Our results provide evidence of a non monotonic relationship: bank concentration promotes entrepreneurship; however, an excessive level of concentration becomes harmful. Moreover, the positive effect of concentration decreases for high-technology-intensive sectors. Entrepreneur- ship is also favoured by well-developed Onancial markets, perceived quality of the institutional environment, policies to prevent corruption and e§ective property rights protection.
{"title":"The Effect of Bank Concentration on Entrepreneurship in Central and Eastern European Transition Countries","authors":"A. S. Bergantino, Claudia Capozza","doi":"10.2139/ssrn.2175624","DOIUrl":"https://doi.org/10.2139/ssrn.2175624","url":null,"abstract":"Using data from 2000 to 2007, we investigate the e§ect of bank concentration on the entrepreneurial initiative in the Central and Eastern European transition countries for eight industrial sectors. We set up a simple structural model by which we test the relationship between banking market structure and Orm cre- ation. First, we estimate the model on the whole sample, to test the general e§ect; then, we restrict the analysis to the high-technology-intensive sectors to verify the speciOc impact of banking market structure on industries which are, usually, more in need of external Onance. Our results provide evidence of a non monotonic relationship: bank concentration promotes entrepreneurship; however, an excessive level of concentration becomes harmful. Moreover, the positive effect of concentration decreases for high-technology-intensive sectors. Entrepreneur- ship is also favoured by well-developed Onancial markets, perceived quality of the institutional environment, policies to prevent corruption and e§ective property rights protection.","PeriodicalId":147967,"journal":{"name":"ERPN: Economic Systems (Sub-Topic)","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2012-11-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121244095","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Twenty years after the launch of market reforms, productive entrepreneurship and vibrant small and medium-sized enterprises (SMEs) in Ethiopia remain limited, the recent growth acceleration notwithstanding. This paper develops a model of entrepreneurial start ups in an economy with frictions in the product and labor markets and a large informal sector, which characterize the Ethiopian institutional landscape. It then examines several mitigating policies that could improve the suboptimal outcomes. The main findings are that search subsidies would be more effective in encouraging entrepreneurial start ups than wage subsidies, although fewer entrepreneurs may choose to operate in the formal sector than under the latter. Regarding the reform agenda,priority should be put on removing rigidities and establishing property rights. To be effective,both types of subsidies should have a time limit and be phased out with reforms of the business environment, strengthened property rights, and improved labor markets.
{"title":"Unlocking Productive Entrepreneurship in Ethiopia: Which Incentives Matter?","authors":"Zuzana Brixiová, E. Aragie","doi":"10.2139/ssrn.1726058","DOIUrl":"https://doi.org/10.2139/ssrn.1726058","url":null,"abstract":"Twenty years after the launch of market reforms, productive entrepreneurship and vibrant small and medium-sized enterprises (SMEs) in Ethiopia remain limited, the recent growth acceleration notwithstanding. This paper develops a model of entrepreneurial start ups in an economy with frictions in the product and labor markets and a large informal sector, which characterize the Ethiopian institutional landscape. It then examines several mitigating policies that could improve the suboptimal outcomes. The main findings are that search subsidies would be more effective in encouraging entrepreneurial start ups than wage subsidies, although fewer entrepreneurs may choose to operate in the formal sector than under the latter. Regarding the reform agenda,priority should be put on removing rigidities and establishing property rights. To be effective,both types of subsidies should have a time limit and be phased out with reforms of the business environment, strengthened property rights, and improved labor markets.","PeriodicalId":147967,"journal":{"name":"ERPN: Economic Systems (Sub-Topic)","volume":"15 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2010-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132676277","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Despite the benefits derived from exporting in this globalized world, many small manufacturing firms in Ghana have failed to avail themselves with this opportunity.The research was conducted to find out why Juaben Oil Mills, a family owned company has failed to take advantage of the export market. The major factor preventing the company from exporting was identified as granting credit facilities to foreign customers.Despite several efforts put in place by the government by establishing the export promotion council many small and medium size firms have failed to take advantage of the facilities this council offers.
{"title":"Factors Inhibiting Export Performance of Small Manufacturing Firms in Ghana: The Case of Juaben Oil Mills","authors":"B. Agyei-Mensah","doi":"10.2139/ssrn.1640628","DOIUrl":"https://doi.org/10.2139/ssrn.1640628","url":null,"abstract":"Despite the benefits derived from exporting in this globalized world, many small manufacturing firms in Ghana have failed to avail themselves with this opportunity.The research was conducted to find out why Juaben Oil Mills, a family owned company has failed to take advantage of the export market. The major factor preventing the company from exporting was identified as granting credit facilities to foreign customers.Despite several efforts put in place by the government by establishing the export promotion council many small and medium size firms have failed to take advantage of the facilities this council offers.","PeriodicalId":147967,"journal":{"name":"ERPN: Economic Systems (Sub-Topic)","volume":"20 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2010-07-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126804448","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The Caribbean islands have long been associated with sun, sea and sand, i.e. a prime vacation destination. Indeed, tourism can be boasted as one of, if not the key economic- growth engines for many of the islands. Furthermore, it has been argued that it actually helps to keep the self-employed survive above the poverty line. If this is the case, then it is interesting to know what are the key components that capitalize on the opportunities that tourism provide, and transforms them into economic growth. The island of St. Lucia is a perfect example for such an investigation. The many attractions including the world renowned St. Lucia Jazz festival held annually in April and May, the Carnival in July, along with the island’s many picturesque sights: The Grand Piton & Petite Piton, the sulphur springs and the rain forest, all contribute in drawing much tourist appeal. With the new direct flight on American Airlines from New York’s JFK added in November 2007, along with to the existing direct flight on Air Jamaica, as well as flights on American from Miami and Atlanta not forgetting British Airways and Virgin Airlines from the UK, the island is burgeoning with tourists. In the 2005 Budget address made by the Prime Minister of St. Lucia, Dr. the Honourable Kenny Anthony, to Cabinet asserted that the Government was fully aware of the economic potential of the tourism sector, and as such, has made moves to develop incentives aimed at encouraging investments and on-going advancements within the industry. These moves included loans on preferential terms to entrepreneurs starting up businesses within the range of entertainment, accommodations and the restaurant business. Additionally, since the economy of St. Lucia has been long sustained by agriculture, Dr. Anthony made it a point to clarify that the tourism industry is positioned not to over-throw the agricultural industry, but rather to establish a symbiotic relationship. Dr. Anthony succinctly described this symbiotic relationship the following way: “The tourism sector requires a vibrant but diversified agricultural sector. The agricultural sector needs a buoyant but responsive tourism sector. We need to ensure that agriculture derives greater value added from the tourism sector. The fact is that annually, we have over 500,000 tourists to feed and the opportunities for agriculture are obvious.” Indeed, while confirming that tourism holds the greatest potential for growth and development, the Government of St. Lucia has also agreed that unemployment is one of its greatest concerns. If this is the case, it becomes obvious that the tourism sector is the one which, consequently, has the greatest potential to help in reducing unemployment (as well as lifting many persons out of poverty). Noting this, the need for the analyses and discussion is surrounded by investigating ways in which the tourist industry can contribute to the growth of the St. Lucian economy.
{"title":"Is Tourism Allowing Entrepreneurs to Have a Higher Likelihood of Evading Poverty in St. Lucia?","authors":"A. Charles","doi":"10.2139/ssrn.1691632","DOIUrl":"https://doi.org/10.2139/ssrn.1691632","url":null,"abstract":"The Caribbean islands have long been associated with sun, sea and sand, i.e. a prime vacation destination. Indeed, tourism can be boasted as one of, if not the key economic- growth engines for many of the islands. Furthermore, it has been argued that it actually helps to keep the self-employed survive above the poverty line. If this is the case, then it is interesting to know what are the key components that capitalize on the opportunities that tourism provide, and transforms them into economic growth. The island of St. Lucia is a perfect example for such an investigation. The many attractions including the world renowned St. Lucia Jazz festival held annually in April and May, the Carnival in July, along with the island’s many picturesque sights: The Grand Piton & Petite Piton, the sulphur springs and the rain forest, all contribute in drawing much tourist appeal. With the new direct flight on American Airlines from New York’s JFK added in November 2007, along with to the existing direct flight on Air Jamaica, as well as flights on American from Miami and Atlanta not forgetting British Airways and Virgin Airlines from the UK, the island is burgeoning with tourists. In the 2005 Budget address made by the Prime Minister of St. Lucia, Dr. the Honourable Kenny Anthony, to Cabinet asserted that the Government was fully aware of the economic potential of the tourism sector, and as such, has made moves to develop incentives aimed at encouraging investments and on-going advancements within the industry. These moves included loans on preferential terms to entrepreneurs starting up businesses within the range of entertainment, accommodations and the restaurant business. Additionally, since the economy of St. Lucia has been long sustained by agriculture, Dr. Anthony made it a point to clarify that the tourism industry is positioned not to over-throw the agricultural industry, but rather to establish a symbiotic relationship. Dr. Anthony succinctly described this symbiotic relationship the following way: “The tourism sector requires a vibrant but diversified agricultural sector. The agricultural sector needs a buoyant but responsive tourism sector. We need to ensure that agriculture derives greater value added from the tourism sector. The fact is that annually, we have over 500,000 tourists to feed and the opportunities for agriculture are obvious.” Indeed, while confirming that tourism holds the greatest potential for growth and development, the Government of St. Lucia has also agreed that unemployment is one of its greatest concerns. If this is the case, it becomes obvious that the tourism sector is the one which, consequently, has the greatest potential to help in reducing unemployment (as well as lifting many persons out of poverty). Noting this, the need for the analyses and discussion is surrounded by investigating ways in which the tourist industry can contribute to the growth of the St. Lucian economy.","PeriodicalId":147967,"journal":{"name":"ERPN: Economic Systems (Sub-Topic)","volume":"25 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2010-04-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122964586","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The purpose of the paper is to consider how the financial system might change from technology that is introducing new forms of electronic money that by-passes banks, current laws and institutional practices. The introductory first Section identifies the illogical and inefficient features of the existing financial system with an overview of alternative possibilities considered later in the paper. The second Section reviews the historical evolution of the existing system to explain its current configuration and identify alternative forms of endemic money that have been overlooked by many scholars. In Section three, alternative types of endemic currencies that successfully competed with legal tender are reviewed and how their competitiveness might change in electronic form. Section four reviews how cell phone technology has introduced cloud banking that by-passes the existing financial system. The concluding Section five identifies how economic and social incentives exist for the invisible hand to favour the adoption of cloud banking. Economic incentives are identified for the invisible hand to favour renewable electricity denominated in Kilo-Watt-Hours (kWh) as an inflation resisting unit of value to create “green dollars”. Social forces arising from the need to reduce pollution and reliance on non-renewable resources provide an addition incentive for the invisible hand to select green dollars as a unit of value. As a currency based on renewable kWh also reduces the need for carbon taxing or trading the potential exists for green dollars to become a new gold standard.
{"title":"How Might the Invisible Hand Handle Electronic Money?","authors":"S. Turnbull","doi":"10.2139/ssrn.1399224","DOIUrl":"https://doi.org/10.2139/ssrn.1399224","url":null,"abstract":"The purpose of the paper is to consider how the financial system might change from technology that is introducing new forms of electronic money that by-passes banks, current laws and institutional practices. The introductory first Section identifies the illogical and inefficient features of the existing financial system with an overview of alternative possibilities considered later in the paper. The second Section reviews the historical evolution of the existing system to explain its current configuration and identify alternative forms of endemic money that have been overlooked by many scholars. In Section three, alternative types of endemic currencies that successfully competed with legal tender are reviewed and how their competitiveness might change in electronic form. Section four reviews how cell phone technology has introduced cloud banking that by-passes the existing financial system. The concluding Section five identifies how economic and social incentives exist for the invisible hand to favour the adoption of cloud banking. Economic incentives are identified for the invisible hand to favour renewable electricity denominated in Kilo-Watt-Hours (kWh) as an inflation resisting unit of value to create “green dollars”. Social forces arising from the need to reduce pollution and reliance on non-renewable resources provide an addition incentive for the invisible hand to select green dollars as a unit of value. As a currency based on renewable kWh also reduces the need for carbon taxing or trading the potential exists for green dollars to become a new gold standard.","PeriodicalId":147967,"journal":{"name":"ERPN: Economic Systems (Sub-Topic)","volume":"10 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2009-11-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128034338","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This is an executive summary of my dissertation on entreprenuership in China. The dissertation has three chapters, focusing on the role of social network in venture financing, institutional constraints on private entrepreneurship and organizational imprinting of bureaucracy respectively.
{"title":"Riding the Dragon: Entrepreneurship Under Market Transition","authors":"Yanbo Wang","doi":"10.2139/ssrn.1710008","DOIUrl":"https://doi.org/10.2139/ssrn.1710008","url":null,"abstract":"This is an executive summary of my dissertation on entreprenuership in China. The dissertation has three chapters, focusing on the role of social network in venture financing, institutional constraints on private entrepreneurship and organizational imprinting of bureaucracy respectively.","PeriodicalId":147967,"journal":{"name":"ERPN: Economic Systems (Sub-Topic)","volume":"82 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2009-09-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127192543","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Following the financial crisis of 2008, the UK government has set out new economic priorities which include jobs and returns from investment in science and technology-based activity. In this paper we show that the Cambridge area already provides a microcosm for such a future economy, one that it reveals both strengths and weaknesses. Using longitudinal county-wide data on technology firms in Cambs, we show that these firms have been resilient to recession over the past quarter century (as compared with Silicon Valley) and achieved high survival rates until the past few years. Cambridge tech firms are depicted in terms of size and sectoral distribution on the eve of the credit crisis, using new data on serial spin out from the university as a check on county-wide data. Larger firms showed a recent recovery in jobs and sales after delayed impact from the technology slump of the new millennium. However a fall in the number of start ups and firms in the smaller size groups is a cause for concern, since it is from just such a pool that the more successful Cambridge firms have emerged over the past three decades.
{"title":"The Cambridge High Tech Cluster on the Eve of the Financial Crisis","authors":"M. Evans, E. Garnsey","doi":"10.2139/ssrn.1923060","DOIUrl":"https://doi.org/10.2139/ssrn.1923060","url":null,"abstract":"Following the financial crisis of 2008, the UK government has set out new economic priorities which include jobs and returns from investment in science and technology-based activity. In this paper we show that the Cambridge area already provides a microcosm for such a future economy, one that it reveals both strengths and weaknesses. Using longitudinal county-wide data on technology firms in Cambs, we show that these firms have been resilient to recession over the past quarter century (as compared with Silicon Valley) and achieved high survival rates until the past few years. Cambridge tech firms are depicted in terms of size and sectoral distribution on the eve of the credit crisis, using new data on serial spin out from the university as a check on county-wide data. Larger firms showed a recent recovery in jobs and sales after delayed impact from the technology slump of the new millennium. However a fall in the number of start ups and firms in the smaller size groups is a cause for concern, since it is from just such a pool that the more successful Cambridge firms have emerged over the past three decades.","PeriodicalId":147967,"journal":{"name":"ERPN: Economic Systems (Sub-Topic)","volume":"12 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2009-08-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126710870","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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