英国中小企业融资报告

相似文件 换一批

是 否 +2 论坛币

k人 参与回答

经管之家送您一份

应届毕业生专属福利!

求职就业群

赵安豆老师微信：zhaoandou666

经管之家联合CDA

送您一个全额奖学金名额~ !

立即领取

感谢您参与论坛问题回答

经管之家送您两个论坛币！

+2 论坛币

This report assesses the contribution made by the City (UK financial services) in meeting the equity finance needs of small and medium-size enterprises (SMEs) in the UK. The study seeks to explore the role of public equity markets in the SME funding ladder. While primarily equity focused, the research also considers the provision of other forms of financing, such as business angels and venture capitalist financing. The research is being carried out by URS, Bourse Consult and Strathclyde University
TABLE OF CONTENTS
FOREWORD.....................................................................................................................1
EXECUTIVE SUMMARY....................................................................................................3
1. INTRODUCTION ..................................................................................................6
1.1. Research Brief....................................................................................................6
1.2. Background.......................................................................................................6
1.3. Methodology.....................................................................................................7
1.4. Report Structure ................................................................................................9
2. IMPORTANCE OF SMES TO THE UK ECONOMY ..............................................10
2.1. Introduction .....................................................................................................10
2.2. The Revival of the SME Sector........................................................................10
2.3. Economic Significance: Number, Location and Sector.............................12
2.4. Benefits of SMEs to UK Economy....................................................................15
2.4.1 Job Creation....................................................................................................15
2.4.2 Quality of Jobs.................................................................................................16
2.4.3 Innovation........................................................................................................17
2.4.4 Entrepreneurship and Economic Growth.....................................................18
2.4.5 Societal Contribution......................................................................................18
2.5. Government and the SME Sector .................................................................18
2.6. Summary ..........................................................................................................20
3. THE SME FUNDING ESCALATOR.......................................................................21
3.1. Introduction .....................................................................................................21
3.2. Sources of Finance Used by SMEs: an Overview.........................................21
3.3. Sources of Equity Finance for High Growth Firms ........................................27
3.4. Summary ..........................................................................................................35
4. EQUITY GAPS....................................................................................................36
4.1. Introduction .....................................................................................................36
4.2. Lack of Seed Capital......................................................................................36
4.3. Decline in the Supply of Early Stage Venture Capital ................................38
4.4. Business Angels – Venture Capital Disconnect............................................50
4.5. ‘Closed’ IPO Markets and Trade Sales .........................................................52
4.6. Summary ..........................................................................................................56
5. THE ROLE AND EFFECTIVENESS OF PUBLIC MARKETS.....................................58
5.1. Introduction .....................................................................................................58
5.2. Market Characteristics ...................................................................................58
5.2.1 Geographical Reach of AIM.........................................................................58
5.2.2 Sector Distribution of AIM...............................................................................59
5.2.3 Market Size.......................................................................................................61
5.2.4 Fundraising.......................................................................................................62
TABLE OF CONTENTS
5.2.5 Leavers .............................................................................................................68
5.2.6 Impact of the Economic Downturn..............................................................71
5.3. Attributes of a Successful Market ..................................................................71
5.4. Liquidity ............................................................................................................73
5.4.1 Challenges in Liquidity Provision for Small Cap Stocks ...............................74
5.4.2 Differentiation between Small and Micro Cap Stocks ...............................79
5.5. Regulation........................................................................................................80
5.5.1 Investor Protection and Regulation ..............................................................81
5.5.2 Regulation of Companies on AIM by Nomads ...........................................82
5.5.3 EU Listing Directive: Premium/Standard Listings...........................................85
5.5.4 EU Legislation...................................................................................................86
5.6. Markets Support Other Financial and Business Services .............................86
5.7. Summary ..........................................................................................................88
6. CONCLUSIONS.................................................................................................90
6.1. Introduction .....................................................................................................90
6.2. Conclusions......................................................................................................90
6.3. Key Research Messages.................................................................................92
7. RECOMMENDATIONS ......................................................................................95
7.1. Introduction .....................................................................................................95
7.2. Recommendations: The Pre-Market Funding Escalator .............................95
7.2.1 Seed Capital ...................................................................................................95
7.2.2 The Business Angel Market .............................................................................96
7.2.3 The Business Angel-Venture Capital Disconnect.........................................97
7.2.4 The Pre-Market Funding Escalator.................................................................98
7.2.5 Trade Sales Amongst Growing SMEs.............................................................99
7.3. Recommendations: Operation of Growth Markets ..................................100
7.3.1 Responsibilities of a Company Quoted on the Public Markets ...............100
7.3.2 Improving Daily Liquidity ..............................................................................100
7.3.3 Improving Further the Quality of Nomads..................................................101
7.3.4 Potential Impact of UK and EU Legislation.................................................101
7.4. Recommendations: Understanding SME Funding Issues ..........................103
7.4.1 SME Funding Needs ......................................................................................103
ACRONYMS................................................................................................................104
BIBILIOGRAPHY ..........................................................................................................105

扫码加我 拉你入群

请注明：姓名-公司-职位

以便审核进群资格，未注明则拒绝

分享0 收藏3 回帖

关键词：中小企业融资 中小企业 企业融资 小企业 introduction 中小企业 英国 融资

我顶，没有识货的么

啊哈 ，太贵了！

太贵了，很少有人买的起吧

好贵啊……没钱的人伤不起