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The University of South Wales, through their Welsh Enterprise Institute (including Global Entrepreneurship Monitor) has developed a long and impressive history of Entrepreneurship research. It was because of this record of producing high impact research work that the Federation of Small Business (FSB) survey was awarded and conducted in 2008. The survey examined the barriers to growth of small firms from a wide range of economic and managerial perspectives. The impact of the survey generated numerous policy documents, as well as academic research outputs.
The Lord Ashcroft International Business School (LAIBS) has had ongoing impact on SMEs and their internationalisation. The underlying research by Mughan and Lloyd-Reason successfully made the case for regional support to encourage and stimulate export activity. Following on from this work, the CURA-B project has had impacts for SMEs, economic support agencies, key customers and knowledge centres in the Assistive Technology (AT) sector. LAIBS has worked with SMEs, economic support agencies and key customers in coaching and consultative roles and through hosted large-scale engagements. LAIBS has helped shape the ecology of the support infrastructure now being put in place in the East of England, West Flanders, Nord-Pas-de-Calais and Zeeland.
The funding of innovative SMEs is widely recognised to suffer from market failures and has been an area of policy concern since the 1930s. Sussex research has contributed significantly to understanding the underlying causes of these market failures, particularly for innovative firms in the UK and EU. It has placed stronger emphasis, than was the case in the past, on addressing demand -, rather than supply-side constraints (caused by the limited number of UK firms capable of generating commercial returns). This enables it to contribute towards the design and implementation of more effective equity support.
The Promoting Sustainable Performance project engaged with over 300 small to medium sized enterprises in Kent and 12 of the national and local government bodies or industry associations that support them. The research identified a set of ten growth enablers for ambitious SMEs and the findings formed the basis of a pioneering research-led executive education programme for smaller businesses (The BIG Journey). Participating SMEs report quantifiable benefits to sales, turnover and expansion through their engagement with Promoting Sustainable Performance's executive education initiative, whilst policymakers used this research to inform strategy on issues such as inward investment, high growth firms and regional business support.
The impact in this case is based on 20 years of research, dissemination and interactions with policy-makers and practitioners. It culminated in the OECD/APEC Athens action plan (2008) which currently drives global policy on support for SME internationalisation, the establishment of a new School of Entrepreneurship and Management at the Romanian Academy of Economic Studies and generated 132 new entrepreneurial businesses (2010-13). This led to a Barclays-funded project in South Africa (2012) to support the internationalisation of 30 local businesses. The research has therefore resulted in improved SME performance and entrepreneurial management which drives economic growth nationally and globally.
Since its inception in 2005, Bangor Business School's Centre for Business Research (CBR) has developed a research agenda focusing on the North West Wales (NWW) EU convergence region, which is dominated by Small-to-Medium sized Enterprises (SMEs) with a distinctively bilingual (Welsh/English) flavour operating in a rural setting. This research has had a significant impact on both local and regional economies by changing the strategies for innovation and growth of individual SME's. The achieved impact came in the form of tangible growth (5% in one instance), successful bidding & grant acquisition (£400K in one case), improved marketing and customer-management, and enhanced knowledge transfer partnerships, which are reflected in greater employment opportunities as evidenced from the supportive statements of the main users of this research
Research at Aston University has influenced and shaped business support policy in the UK and changed the strategic direction of small businesses in the Midlands region, which has led to increased growth and profitability. A specific impact of the research nationally has been to inform the Coalition Government's business support policy and form part of the underlying rationale for the new Growth Accelerator business support programme in England. At regional level the research has changed strategic thinking, specifically in the Greater Birmingham and Solihull region through its Local Enterprise Partnership, the Leeds City Region, and the Greater London Authority, influencing business support strategy and practice in those areas. On the ground, Aston's research has had a direct impact on the growth, job creation and profitability of small businesses in the Midlands.
A series of empirical research studies, underpinned by economic theory, explored enterprise support and urban settlement structure. The research contributed significantly to the evidence base used by East Midlands Development Agency (EMDA) in developing their Regional Economic Strategy (RES), and was key in shaping two of the Strategic Priorities. More generally, the research-based recommendations informed EMDA policy development, in particular, the £290 million Single Programme investment set out in the RES. The research also helped shape county councils' support for enterprise, innovation and business. More recently, the research has informed the shape of regional economic development beyond the regional development agencies into new government policy through the new Local Enterprise Partnerships; for example Lincolnshire's £14 million investment in broadband.
Professors of Economic History Steven Broadberry and Nicholas Crafts benchmarked historical British productivity performance against other modern economies and determined the factors which most influenced productivity growth, highlighting the important roles played by supply-side policies including education, innovation, competition, and labour relations policies. Their research has impacted both public and policymaker understanding of pro-growth responses the current government could make to the 2008 financial crisis. Their findings underpinned many Thatcher government policies and supported the retention of these policies by governments that followed.
Research published by Pugh, Wyld and Tyrrall (2001) was adopted by the Campaign for Real Ale (CAMRA) and the Society of Independent Brewers (SIBA) to provide the theoretical and empirical underpinnings of their lobbying campaign for a sliding scale of excise duty for small breweries (also known as "progressive beer duty"; henceforth, PBD). This campaign led to the introduction of PBD in the 2002 Budget. Subsequent evaluation (Wyld, Pugh and Tyrrall, 2010) established that PBD has helped to generate new businesses (well over 100) and new jobs (at least several hundred) that otherwise would not have been brought into existence.