The geographies of access to enterprise finance: the case of the West Midlands, UK

The geographies of access to enterprise finance: the case of the West Midlands, UK, Regional Studies. Whilst there is a long history of credit rationing to small and medium-sized enterprises (SMEs) in the UK, the financial crisis has seen banks retreat further from lending to viable SMEs due to a reassessment of risk and lack of available capital. In so doing, the credit crunch is thought to be creating new geographies of financial exclusion. This paper explores the financial inclusion of enterprise through community development finance institutions (CDFIs) which provide loan finance to firms at the commercial margins in the West Midlands, UK. The paper concludes that CDFIs could partially address the financial exclusion of enterprise as an additional, alternative source of finance to that of mainstream banks

Communitarian perspectives on social enterprise

Concepts of social enterprise have been debated repeatedly, and continue to cause confusion. In this paper, a meta-theoretical framework is developed through discussion of individualist and communitarian philosophy. Philosophers from both traditions build social theories that emphasise either consensus (a unitarist outlook) or diversity (a pluralist outlook). The various discourses in corporate governance reflect these assumptions and create four distinct approaches that impact on the relationship between capital and labour. In rejecting the traditional discourse of private enterprise, social enterprises have adopted other approaches to tackle social exclusion, each derived from different underlying beliefs about the purpose of enterprise and the nature of governance. The theoretical framework offers a way to understand the diversity found within the sector, including the newly constituted Community Interest Company (CIC).</p

Transforming Women’s Rehabilitation? An Early Assessment of Gender-Specific Provision in Three Community Rehabilitation Companies

Following the implementation of the Offender Rehabilitation Act 2014, the Transforming Rehabilitation (TR) reforms expanded the offender management market to include several private providers, known as Community Rehabilitation Companies (CRCs). The TR reforms have been the subject of intense debate since the outset. Political, academic and campaign-group commentary has critiqued the rapid implementation of the new agenda and examined its likely impact on existing services (particularly those run by the charitable sector). A growing body of research has also questioned the likely impact of the legislation on community provision for women, a field already beset with precarious funding streams. Lamenting the ‘lack of strategic focus’ on women, a recent review by Her Majesty’s Inspectorate of Probation (HMIP) revealed that ‘dedicated funding for women’s community services has virtually disappeared, and provision is mixed and uncertain’ (2016a: 4). Drawing on 36 interviews conducted with probation officers and practitioners (keyworkers) working for women’s services, this paper validates such concerns. While the supposed subjects of an established government strategy, it is particularly regretful to report such findings in the tenth anniversary year of Baroness Corston’s seminal report

FDI and regional development policy

The transformations in the worldwide division of labour brought about by globalisation and technological change have shown an unintended negative effect, particularly evident in advanced economic systems: uneven spatial distribution of wealth and rising within-country inequality. Although the latter has featured prominently in recent academic and policy debates, in this paper we argue that the relevance of connectivity (here proxied by foreign capital investments, FDI) for regional economic development is still underestimated and suffers from a nation-biased perspective. As a consequence, the relationship between the spatial inequality spurred by the global division of labour and the changes in the structural advantages of regions remains to be fully understood in its implications for economic growth, territorial resilience and industrial policy. Furthermore, even though connectivity entails bi-directional links – i.e. with regions being simultaneously receivers and senders – attractiveness to foreign capital has long been at the centre of policy attention whilst internationalisation through investment abroad has been disregarded, and sometimes purposely ignored, in regional development policy agendas. We use three broad-brushed European case-studies to discuss some guiding principles for a place-sensitive regional policy eager to integrate the connectivity dimension in pursuing local economic development and territorial equity

Homeopathic finance Equitable capital for social enterprises

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