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AGE EFFECTS ON SMALL FIRM GROWTH AND STRATEGIC OBJECTIVES (2005)
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BibTeX
@MISC{Gray05ageeffects,
author = {Colin Gray},
title = {AGE EFFECTS ON SMALL FIRM GROWTH AND STRATEGIC OBJECTIVES},
year = {2005}
}
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Abstract
Two ageing processes are happening in West European economies that have profound implications for the development of innovations and entrepreneurship in Europe. The first is the demographic trend common in most industrialised countries of an aging population. This means not only that shortages in the supply of skilled workers are appearing but also that small firm owners are also much older. The second is the firms that were started as enterprising new companies some twenty years ago, and in many cases their main products too, are now at the plateau of their life-cycles (or, even worse, sliding down the decline curves at the end of the cycle). As well as the identified economic problems with regard to increased welfare costs and a diminishing active population having to sustain the pension expectations of a growing population of economically inactive people, there is the hidden potential problem of a fall off in general small business activity. In particular, does this mean a decline in entrepreneurial activity? The Small Enterprise Research Team (SERT), an independent non-profit body based
Keyphrases
active population welfare cost identified economic problem independent non-profit body small enterprise research team skilled worker general small business activity many case small firm owner pension expectation new company ageing process industrialised country hidden potential problem west european economy demographic trend entrepreneurial activity main product inactive people
