Editorial
Article Type: Editorial From: Journal of Small Business and Enterprise Development, Volume 22, Issue 4.
The fourth and final issue of volume 22 completes a strong and successful year in the publishing life of the Journal of Small Business and Enterprise Development (JSBED), the 15th under my editorship. Overall progress, across these years, represents a remarkable record of organic growth, innovation and success, in an area of publishing that is characterised by intense competitiveness amongst a growing list of specialist journals. These journals compete fiercely to achieve, as well as to maintain, a position of leadership and socio-economic impact. Since its acquisition by Emerald Publishing Group in 2001, JSBED has grown and developed rapidly, from a national and event dependent publication, into a leading international journal that delivers significant theoretical,practical and policy impact. Moreover, JSBED is leading the expanding Emerald portfolio of enterprise related journals, in terms of quality and quantity of peer refereed papers of national and international influence and relevance.
At both macro- and micro-economic levels, the outlook for Small and Medium-sized Enterprises (SMEs) remains largely positive,despite the turbulent socio-economic and political conditions prevailing in the UK, continental Europe and the rest of the world. It appears that owner/manager confidence in economic recovery and growth continues to be high. This trend, in itself,is seen to be responsible for the accelerated growth in business start-ups noticed in many countries. New venture creation and increased business longevity have been recorded in both the service and manufacturing sectors of the UK economy as well as in other industrially developed and developing countries and nations in transition. This calls for cautious optimism in the small business sector, generally acknowledged as a good national and global indicator of overall economic recovery and growth. At closer scrutiny, however, national statistics reveal uneven growth, characterised by local and regional disparities.
In the UK, for instance, economic growth has been moderate during the previous five years and only since 2013 has Gross National Product (GDP) risen to an annual average of just over 2 per cent. Most economic observers and commentators are cautious in their predictions, expecting an annual average GDP growth of 2.3 per cent in 2015 and 2.6 per cent in 2016. These growth predictions are about 1 per cent lower than global growth forecast, even though the UK economy as a whole exhibits strength and continuous improvement in its financial and support infrastructure. To mirror national economic recovery, growth in private consumption has been slow, but steady, at a time of low inflation and falling saving rates. The recent fall in oil and energy prices should boost most, if not all sectors of the UK economy, contributing to lower costs and higher profitability margins for micro,SMEs as well as larger businesses and multinational corporations. Unfortunately, financial difficulties and geopolitical uncertainties appear to persist in some regions of Eastern, Central and Western Europe and this is expected to impact negatively upon export markets in general and niche markets in particular. Nevertheless, steady and continuous economic growth as well as positive small business environments are expected to last at least until the end of this decade, and possibly beyond.
As customary, I would like to extend my gratitude to the many individuals who have contributed to the delivery of this issue of JSBED, including authors, referees, advisors and employees of Emerald Group Publishing, whose commitment and dedication to this journal is very much appreciated.
Harry Matlay
