The Consequences of the International Crisis for European SMEs: Vulnerability and Resilience

The current global financial crisis and subsequent recession have jeopardized economic systems#xE2;#xAC;" financial and economic structure. Several important studies have addressed the origins and dynamics of the crisis, as well as possible solutions in terms of structure and oversight of financial systems and the role of fiscal policy. Yet, until now there has not been an in-depth analysis of the impact of the crisis on entrepreneurship and small and medium sized enterprises (SMEs), which have been identified as key for growth and development at the local level. This edited volume analyses and assesses the consequences of the international crisis on SMEs, asking how, to what extent and with which consequences the crisis has affected European SMEs, and what can be done at the institutional and political level to uphold them. The contributors consider such areas as SMEs start-ups, development, ability to innovate, growth and response to market changes. Moreover, the book identifies institutional frameworks and policy options capable of fostering resilience of SMEs. Drawing on a comparative approach, the book focuses on Europe, where the issue of SMEs' vulnerability and resilience to the current crisis is particularly compelling. The book takes an interdisciplinary approach, providing a theoretical and methodological framework which can be fruitfully employed in policy analysis and policy making, whilst also offering comparative empirical research to substantiate the analysis.