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Access to finance to SMEs at a regional level - the case of Finance Wales

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  • Dylan Jones-Evans

Abstract

Since the economic recession of 2008, there is increasing evidence that small to medium sized enterprises (SMEs) have found it increasingly difficult to access funding from conventional sources such as banks. As a result, there have been various public sector interventions within the UK to close this finance gap, although this has been developed at a national rather than a regional level. This paper examines the development of one of the few publicly owned regional development funds in the UK and its role in supporting the SME sector in Wales during the economic recession. It shows the strategy undertaken was contrary to expectation during a time of economic crisis, especially in the failure to reduce the cost of borrowing to SMEs and to utilise the full range of financial instruments to ensure to maximise its impact.

Suggested Citation

  • Dylan Jones-Evans, 2015. "Access to finance to SMEs at a regional level - the case of Finance Wales," Venture Capital, Taylor & Francis Journals, vol. 17(1-2), pages 27-41, April.
    • Handle: RePEc:taf:veecee:v:17:y:2015:i:1-2:p:27-41
    DOI: 10.1080/13691066.2015.1052624
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    References listed on IDEAS

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    1. Nicholas Crafts & Alan Hughes, 2013. "Industrial Policy for the Medium to Long-term," Working Papers wp455, Centre for Business Research, University of Cambridge.
    2. Phedon Nicolaides, 2013. "Financial Engineering Instruments and their Assessment Under EU State Aid Rules," Bruges European Economic Policy Briefings 26, European Economic Studies Department, College of Europe.
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    Cited by:

    1. Marc Cowling & Susan Marlow & Weixi Liu, 0. "Gender and bank lending after the global financial crisis: are women entrepreneurs safer bets?," Small Business Economics, Springer, vol. 0, pages 1-28.
    2. Marc Cowling & Susan Marlow & Weixi Liu, 2020. "Gender and bank lending after the global financial crisis: are women entrepreneurs safer bets?," Small Business Economics, Springer, vol. 55(4), pages 853-880, December.
    3. Esho, Ebes & Verhoef, Grietjie, 2018. "The Funding Gap and the Financing of Small and Medium Businesses: An Integrated Literature Review and an Agenda," MPRA Paper 90153, University Library of Munich, Germany, revised 21 Nov 2018.

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