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Small firm finance and public policy

Lean, Jonathan; Tucker, Jon

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Jonathan Lean


Examines how a finance gap for small firms might be addressed by means of government policy to support informal financing initiatives. A review of both the finance and the government policy literature provides the basis for discussing and conceptualising the financing difficulties faced by small firms, the role of informal financing in alleviating certain of these difficulties and the areas where public policy is currently usefully employed in addressing such financing problems. Undertakes a questionnaire survey to collect data concerning small business awareness and use of informal finance and to identify issues concerning difficulties encountered in gaining access to finance. The results suggest that a debt finance gap may exist for a minority of firms, though an equity finance gap may represent a more significant issue for small firms. Four categories of policy action emerge from the study towards the achievement of economic and social policy objectives. © 2003, MCB UP Limited


Lean, J., & Tucker, J. (2003). Small firm finance and public policy. Journal of Small Business and Enterprise Development, 10(1), 50-61.

Journal Article Type Article
Acceptance Date Jan 1, 2003
Publication Date Mar 1, 2003
Deposit Date Jan 21, 2016
Publicly Available Date Jan 10, 2019
Journal Journal of Small Business and Enterprise Development
Print ISSN 1462-6004
Publisher Emerald
Peer Reviewed Peer Reviewed
Volume 10
Issue 1
Pages 50-61
Keywords finance, public policy, finance gap, information asymmetry, informal finance
Public URL
Publisher URL
Additional Information Additional Information : This is the accepted version of a paper published in 2003 in the Journal of Small Business and Enterprise Development available online here:


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