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...business development. These papers are linked in three key ways. First, they both question the role that government can and should play in the development of small business. Second, they further study the link between small business subsidies and overall economic growth. Finally, assuming that government intervention is effective, they then attempt to determine the most efficient allocation of scarce government resources. Both papers conclude that the role of government is an important one, not simply for the development of small business, but for strengthening the impact that small business has on broad economic performance. Bradford (this issue) takes more microcosmic approach in terms of defining how the government should participate in (this issue) small business, whereas Craig, Jackson, and Thomson (this issue) determines that U.S. government participation is warranted. I shall discuss the papers separately, starting with Bradford (this issue), and proceed with Craig, Jackson, and Thomson (this issue) afterward.
Bradford (this issue) studies South African entrepreneurs and makes practical and academically meaningful contributions to the literature. First, he makes the important distinction between firms that are legally formal and those that are economically formal. Legally formal firms, according to Bradford, are simply those firms that are registered...
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More articles from Journal of Small Business Management
Board composition in small and medium-sized family firms., January 01, 2007
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