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Survey findings by the University of South Wales illustrate the need for support to ensure growth and survival of small businesses

Entrepreneurship Promotion: Federation of Small Business Bi-Annual Survey (2007-2008)

Small business faces a range of barriers to growth from a wide range of economic and managerial issues. The University of South Wales (in collaboration with colleagues from a number of other universities) therefore conducted an extensive survey focused on these issues for the Federation of Small Business (FSB) in 2008. The impact of the survey generated numerous policy documents, as well as academic research outputs. For example:-

“These findings illustrate that action must be taken immediately for small businesses to gain access to vital funds to ensure their growth and survival. People often do not realise that small businesses are the backbone of the economy, employing 13.5 million people and contributing over 50 % to UK turnover, therefore it is vital that this sector is given the necessary support and backed up by fair and flexible credit.”

In addition to academic outputs, the research reports were used by FSB as a basis for policy development and lobbying UK and Welsh governments to influence policy direction. As a result, the work was widely utilised in a range of governmental debates from late 2008 onwards, including those on issues such as finance, rate relief, taxation, enterprise zones, and business development plans.

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