Exploring a low SME equity equilibrium in Wales

Previous research has examined geographical variations in SME access to external finance, especially bank loans. Rather less attention been paid how far equity difficulties more peripheral regions, and cities within these is a demand or supply side issue, investments are concentrated specific urban areas regions. This paper examines topics through an analysis of small firm deals across the UK before focusing on case Welsh economy. In low equilibrium for business investment Wales identified, with poor equity, but relatively high concentration Cardiff area. The potential implications provides challenge further