文档介绍：EARLY STAGE ASSESSMENT OF THE IMPACT OF THE ENTERPRISE FINANCE GUARANTEE (EFG) ON RECIPIENT FIRMS
Gordon Allinson, Ian Stone, Paul Braidford and Maxine Houston
POLICY RESEARCH GROUP
DURHAM BUINESS SCHOOL/ST CHAD’S COLLEGE
URN 09/1594
Acknowledgements
PRG would like to acknowledge assistance received from CfEL ments from BIS relating to various drafts. Thanks are also due to the team of interviewers who worked to a tight schedule in contacting businesses and to the businesses who replied.
Note on authors
This research was carried out by the Policy Research Group of Durham University, located at St Chad’s College. The Project Director was Professor Ian Stone, of Durham Business School and St Chad’s College. The project manager was Gordon Allinson, who along with Paul Braidford and Maxine Houston is a Senior Research Fellow within PRG.
CONTENTS
Executive Summary 1
Summary 1
Objectives and scope 1
Background 1
Key Findings 2
Methodology 4
Achieved sample 4
1. Introduction 5
Background 5
Aims and objectives of the study 6
2. Methodology 8
Limitations of the research 8
3. Achieved Sample 9
Business characteristics of the sample 9
Loan details of the sample 11
4. Results 15
Process of borrowing via EFG 15
Prior awareness of EFG 15
Stage at mercial finance rejected 17
Previous loan applications 18
Loan fulfilment in relation to business requests 19
Time between initial enquiry and receiving an offer 20
Impact of the speed of lending 22
Drawing down finance 24
Use of independent sources of advice and support 25
5. Satisfaction with EFG 27
Overall satisfaction 27
Satisfaction with terms 28
Quality of service 30
Quality of information and advice 33
Comparison with previous borrowing experience 34
6. Impact of EFG loan on recipient businesses 35
Realisation of objectives 35
Impact on Business es 36
Additionality of EFG 37
Changes to business prospects attributed to EFG 40
Impact on jobs in EFG recipients’ businesses 41
Impact of E