THE SMALL FIRM—ASSET OR LIABILITY?

Abstract

The structure and management of small firms are examined here in the light of the findings of recent research. This article analyses the contribution of small companies to the United Kingdom economy and the patterns of growth and decline of small firms in this country and in the United States of America, and describes some of the findings of research into the management of small companies. It considers some of the implications of research findings for the training and development of small firm managers and for the formulation of policies that contribute to the more effective use of managerial manpower in the small firm.