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Media type:
E-Article
Title:
Small business financing in the UK before and during the current financial crisis
Contributor:
Cowling, Marc;
Liu, Weixi;
Ledger, Andrew
imprint:
SAGE Publications, 2012
Published in:International Small Business Journal: Researching Entrepreneurship
Language:
English
DOI:
10.1177/0266242611435516
ISSN:
0266-2426;
1741-2870
Origination:
Footnote:
Description:
<jats:p> This article uses empirical evidence from the UK to consider how demand for external finance changed as the economy entered recession and whether external finance became more difficult for entrepreneurs to access as the recession progressed. It finds that larger firms and those experiencing declines in sales were more likely to maintain or increase their demand for external finance. The opposite was true for women-led businesses. Generally, finance was more readily available to larger and older firms throughout the recession. At its peak 119,000 (10% of the total stock) smaller firms were denied credit in a three-month period. </jats:p>