Sticking it on plastic: credit card finance and small and medium-sized enterprises in the UK

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Abstract

This paper investigates the role of credit card financing in UK small and medium sized enterprises (SMEs) and how this varies by location and business orientation. Using a large scale dataset of UK SMEs, the results of a regression based analysis suggest that firms located in peripheral geographic areas have greater usage of credit cards relative to counterparts located in ‘core’ locations. Innovative, growth, and export-oriented SMEs are also more inclined to use credit card financing. Moreover, SMEs that use credit cards as a form of improvised financial ‘bootstrapping’ are more likely to seek additional funding sources in the future.
Original languageEnglish
Pages (from-to)630-643
JournalRegional Studies
Volume53
Issue number5
Early online date31 Jul 2018
DOIs
Publication statusPublished - 4 May 2019

Keywords

  • Finance
  • Small and medium-sized enterprises (SMEs)
  • Credit cards
  • Bootstrapping
  • Peripheral locations
  • Thin markets

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