The Financing of Technology-Based Small Firms

The Bank of England today launched a report, "Financing of Technology-Based Small Firms", examining changes in the financing environment for technology-based small firms (TBSFs) since its previous report on the subject in 1996.
Published on 05 February 2001

The report was launched at a dinner in Edinburgh, hosted by Alastair Clark (Executive Director, Financial Stability) in conjunction with the Bank's Agency for Scotland.

The report suggests that many TBSFs have a number of characteristics which distinguish them from the generality of the small business population, and which might affect their ability to raise external finance. These features include: a lack of tangible assets and track record; the need for long-term investment; and growth potential which relies on necessarily unpredictable success in the exploitation of new science or technology.

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