• Facilitating regeneration through new enterprise creation.

      Jennings, Peter L.; Illes, K. (2002)
      This paper undertakes a comparative study of intervention strategies and the resultant impact upon new enterprise creation in the UK and Hungary. Firstly, secondary data is used to compare and contrast the actions of and support provided by, major employer organisations faced with the need to downsize and restructure in the light of changing economic circumstances. Parallels are drawn between the need to support the local economy in specific regions of the UK, which faced extreme recession following the decline of major industries and the need to support local economies in Hungary, which face an uncertain future, but new opportunities, following the liberalisation of economic policy. Secondly, the paper reports the results of interviews with entrepreneurs and owner-managers in both countries who have received and who are receiving support and assistance to establish, grow and develop new enterprises. For many this marks a significant transition from employment to self-employment and requires the acquisition of new skills and competences together with the acceptance of high levels of risk and exposure not previously experienced. Thirdly, the paper assesses the impact of changing relationships within the local economy. This is especially significant where newly established SMEs operate as sub-contractors to the supporting organisation which takes the opportunity to outsource services and/or production which was previously undertaken in-house. The paper concludes with specific recommendations concerning the role of facilitators in influencing attitudes towards entrepreneurship and actions, which may be undertaken to encourage regeneration through the creation of new enterprises.
    • Government discourses on entrepreneurship: Issues of subjugation, legitimisation and power.

      Jennings, Peter L.; Perren, L. (2005)
      The belief in market-driven ideology and the assumption that new business ventures create jobs and foster innovation has embedded entrepreneurship into political discourse. Academics have analyzed government policies on entrepreneurship, but they have tended to share the same underlying beliefs in the function of entrepreneurs within the economic machine. This article explores selected dimensions of the impact of those beliefs by using critical discourse analysis to show how government websites around the world portray entrepreneurs and their role in society. Discourses of government power and self-legitimization are revealed that manifest themselves in a colonizing discourse of entrepreneurial subjugation. The article concludes by challenging government rhetoric on entrepreneurship and questioning the motives underpinning the agenda of government involvement in supporting entrepreneurs.
    • The impact of capital taxation on UK unquoted companies

      Jennings, Peter L.; Allen, C.; Casson, P. (2003)
      The authors present findings from the initial phase of an ongoing externally funded research project into senior executive perceptions of the impact of capital taxation upon unquoted companies incorporated in the United Kingdom. Open-ended interviews were conducted with the senior executives of six unquoted companies which are also multigenerational family businesses. The interviews guided the executives to explore the history of their company; the values and aspirations of the founding or owning family(ies); the impact of capital taxation regimes, previous and current, both on ownership and on management succession; and strategies being pursued. Using content analysis to identify key themes, the authors suggest that their findings indicate that capital taxation may have a major impact both on ownership and on management succession as well as on succession planning. However, the current capital tax regime in the United Kingdom is perceived to be more favourable than that of previous regimes and vis-aé-vis the regimes currently operating in most European countries. Capital taxation is not thought to influence strategic or operational decisions either positively or negatively. Companies use taxation-planning devices, frequently involving trusts, in order to reduce the actual burden of capital taxation falling upon individual shareholders at ownership succession. The present capital taxation regime, which includes gift relief and business asset taper relief within capital gains tax, and 100% business property relief within inheritance tax, eases succession planning. Business asset taper relief also facilitates shareholder exit strategies.
    • Strategic adaptation: Uni- or multi-dimensional concept?

      Jennings, Peter L. (2004)
      Guest Editorial.