Small construction enterprises

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  • In modern technological society small businesses are expected to have an innovative role in the emerging knowledge economy, especially at an international level (EC, 2005; BERR, 2008). In fact the effective use of technological innovation is considered to be a prerequisite for small business survival (Packham, 2002; Packham et al, 2005). It has long been recognised that the small business sector is important for economic growth and it has been noted that there is a need for an international focus on small businesses having access to international markets (OECD, 2005).

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  • On the global stage small businesses are represented in many different communities. At a UK and EU level small businesses are defined as having 10-50 employees and offer considerable scope for innovation and productivity. Additionally, the European Union Research and Advisory Board (EURAB, 2004) has provided a helpful typology in terms of the amount of R&D that is undertaken. Four basic categories provide insight into the level of use and the extent of R&D that is conducted.

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  • Incoming data on the labor market have remained disappointing. Private-sector employment has grown only sluggishly, the small decline in the unemployment rate is attributable more to reduced labor force participation than to job creation, and initial claims for unemployment insurance remain high. Firms are reluctant to add permanent employees, citing slow growth of sales and elevated economic and regulatory uncertainty.

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  • We, the authors, have been in the grateful position of being able to support numerous doctoral students in their attempts to publish a scientific journal article. Through this experience, we have been able to deepen our own knowledge of how to write a scientific article. We would like to thank all the doctoral students we have guided for the chance to share in their learning. We would also like to thank Dr Harry Anttila, the Director of the Language Centre of the University of Oulu, for constructive cooperation. We would especially like to thank the Language Centre Working...

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  • We also add, to the four-factor model above, country-speci c market indexes in some of our analysis to performance models for country-focused funds. For instance, when we turn to such models, a UK fund will have, in addition to the Pan-European factors, a UK market index in a ve- factor model. 11 These augmented models help to control for persistent fund loadings on unpriced factors, as described by Pastor and Stambaugh (2002a). Adding such factors can help tighten the predictive distribution for fund alphas, which can be bene cial for the construction of portfolios. ...

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  • There were around 20 million enterprises in the non-financial business economy across the EU-27 in 2005; of these enterprises 99.8% were SMEs, the majority of which were micro enterprises. It is recognised that an SME-friendly business environment (e.g. in the Small Business Act), both at Community level and in the Member States, is crucial for growth and jobs in Europe. In some key industries, such as textiles, wood products, metal products, publishing, construction and furniture-making, they account for more than 70% of all jobs.

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  • This term is used to mean the arrangement under which the promoter appoints a manager with his own staff to organize the letting and supervision of construction contracts which are placed by the promoter. Design may be by the promoter’s staff, or can be placed as a separate design package or packages let by the promoter, but supervised by the manager. An advantage is that an experienced construction manager should be able to avoid or minimize the problems of co-ordinating contractors.

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