The Small Entrepreneurial Firms
Reviews of The Small Entrepreneurial Firm, by Gavin C. Reid and Lowell R.
Jacobsen.
‘This
Hume Paper covers an ambitious range of topics. Firstly, recognising the lack of a truly
coherent economic theory on the topic of the Small Entrepreneurial Firm (SEF),
it reviews some of the traditional and contemporary material which has an
application both to the initial decision of the entrepreneur,
and to the role for the SEF in modern markets. Secondly, it examines empirical
evidence, not so much on why there are SEF as on how these small firms operate;
financial structure and reactions to the forces of competition are the two main
themes which are explored. Thirdly, the paper looks at some of the policy
implications for SEF promotion and support; the role of the Enterprise Trusts
(or Agencies), and the problems of ‘picking winners’ are main
themes here…the paper can be recommended as a very readable and useful
introduction to the topic’.
Mark Brownrigg, Economic Journal