Small business is the backbone of the market economy, goes the myth. In terms of employment percentages: yes — probably also innovatory potential. In terms of market and governmental support: no.
A key arena where small and medium-sized enterprises (henceforth SMEs) experience adversity is in the raising of capital for both start-up and for expansion. The rise of institutional banking has only marginally catered to SME concerns.
In 1929, after the New York stock market crash, the…
