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May 2019

Latest Blog

The Mittelstand v Silicon Valley: Which model of entrepreneurship is most relevant for post-Brexit Britain?

 

Latest Publications 

The Biology of Entrepreneurship
SOTA Review No 27
What makes an entrepreneur? The past few years have witnessed a significant increase in research examining the role of biology in entrepreneurship. For instance, evidence shows that the genetic factors explain almost half of the variance in people’s tendencies towards entrepreneurship. Other research suggests that hormones, such as testosterone and cortisol, affect the propensity of people to become entrepreneurs. Further research argues that entrepreneurs have increased activations in the frontopolar cortex of the brain when engaging in exploration tasks. Studies also show that mental conditions influence the propensity of individuals to engage in entrepreneurial outcomes. Read the SOTA Review here

Loan guarantee schemes in the UK: What have we learnt?
SOTA Review No 28
Loan guarantee schemes are the most pervasive and long-standing means of intervening in capital markets to support small business lending in the world. They are popular with small businesses, easy to understand, easy to administer, and allow large numbers of credit constrained small business to access loans that they would have struggled to get. Yet take-up of UK loan guarantees over its 38 year scheme history has varied dramatically. In this review we consider just why, despite its general popularity, the UK scheme has had such a variable past, and show just how sensitive demand for guaranteed loans is to the nuances of the schemes rules.
Read the SOTA Review here


Entrepreneurial Health and Wellbeing
SOTA Review No 29
Issues of employee mental health and well-being have received considerable recent attention. Much less attention has been paid to well-being among entrepreneurs despite the combination of risk and anxiety which starting a business may involve. Entrepreneurial well-being has been defined as "a positive and distinctive mental state that reflects entrepreneurs' affective and cognitive experiences of engagement in entrepreneurship as the process of venture creation". We review the existing evidence on different aspects of entrepreneurial well-being and identify gaps in the evidence base on this ‘darker side’ of entrepreneurial activity.

ERC in the Press

The Metro.co.uk  A second great depression is coming and 99.9% likely in two years.
Insider.co.uk  Par Equity backs Northern Irish tech companies
BizPlus 
Taking The Pulse Of Laid Back Micro Businesses
The Irish News Tech firms enjoy £3.2m investment boost


 
New Colleague 
We are pleased to announce that Lee Hopley has joined the ERC team as a new Deputy Director. Lee will be well known to many ERC stakeholders having previously been Chief Economist at the EEF leading the organisation’s work on the economy and industrial policy for several years.

Out and About


SME Banking and Commercial Finance Festival

On 1st May, Anastasia Ri attended SME Banking and Commercial Finance Festival which was part of the UK Finance Festival in Belfast, organised by UK Finance in association with TLT LLP. The event brought together influential professionals from financial institutions, senior expert practitioners and business leaders. The key message of the debates was that while the financial services industry has increased their support for SMEs, there is still more work to be done in the future to improve processes and mechanisms in order to provide easier and better access to finance for SMEs. 


Dr Kevin Mole (WBS) was part of an OECD mission to Vietnam sponsored by the Canadian Government that will report on SME development. The team comprised experts from Sweden, Italy, Canada and France as well as the UK. Visiting Hanoi from 4th -10th May the team met with representatives from the Ministries of Planning and Investment, Finance, Labour, Science and Technology, SME associations and NGOs to learn more about the support for SMEs in Vietnam. Dr Mole will lead on the chapter of Business Development Services (BDS); other chapters include the policy process, access to finance and examining the linkages between SMEs and FDI.  The report is scheduled to be completed by August 2019. 


Every two years the OECD examine economic trends and policies in individual OECD Member States. As part of a Structural Mission for the 2020 Economic Survey of Ireland, the OECD Secretariat met with Jane Bourke on 13th May.The discussion centered on Jane's research with Stephen Roper on technology adoption in Irish micro-businesses and in Irish manufacturing plants. 

On May 16th, the Seanad (Upper House of the Irish Parliament) launched the Public Consultation Committee Report on Small and Medium Sized Businesses in Ireland. This report outlines an integrated national strategy proposal supporting the fostering, growth and sustainability of indigenous Irish SME’s. Jane Bourke & Stephen Roper provided a written and oral submission on micro-businesses in Ireland to this public consultation committee, and this evidence informs some of the document's policy recommendations.


When innovating in legal services goes wrong

Stephen Roper presented ‘Innovating into Trouble’, ERC Research Paper 76, at seminars in Newcastle Business School and at Manchester Institute of Innovation Research (MIoIR). Co-authored with Dr Jane Bourke, this research explores the link between innovation by providers of legal services and complaints to the Legal Ombudsman for England and Wales.


What's On


Productivity and the Quality of jobs in Small firms:
Putting Research into Practice
Aston Business School
10.06.2019

Organised by the 'Working Life Engagement and Improvement Group' (WLEIG)
What is the ‘business case’ for enhancing job quality in small firms?
How can small firms use research on job quality to boost productivity?
What form of business support promotes ‘productivity through people’?

Entrepreneurs, business support practitioners and academics address these questions in a unique workshop designed to identify solutions and examples of research-based innovation in working practices.
Register Here
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