Financialisation and small firms: A qualitative analysis of bioscience and film and media firms

Abstract

How, if at all, does financialisation affect small firms that have no direct exposure to capital markets? This article argues the need to address this lacuna empirically, conceptually and politically drawing on research from a qualitative longitudinal analysis of UK small businesses in bio-business and film and media sectors. We identify three potential conduits through which financialising principles and practices may be perceived, translated and resisted for owners, managers and staff. More broadly, the article argues that financial relations should figure more prominently and move from their relatively marginal location into the heart of socio-economic analysis of small firms. As such, the research connects with and extends an important social science tradition of research on managerial control in small firms to include issues of financialisation and financial governance.