Longitudinal Exploration of the Role of External Finance in Helping SMEs Achieve Growth, Higher Productivity and Potential in Relation to their Transition to Net Zero

Research Paper

Longitudinal Exploration of the Role of External Finance in Helping SMEs Achieve Growth, Higher Productivity and Potential in Relation to their Transition to Net Zero

Published: 12 November 2025

ERC Research paper No 120

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Associated Themes

Business Growth
Productivity and performance
Sustainability

This report examines the multifaceted determinants of SME growth and productivity, drawing on a 2020-2023 panel from of the LSBS survey Wave 9. These secondary data were longitudinally explored through descriptive and regression analysis to address the following research questions:

What determines differences in SME growth and productivity in terms of business characteristics, capabilities, export-orientation, future business intentions, and performance?

What are the impacts of different types of business support and of external finance on SME performance and ambition?

Are SMEs’ NZ transition objectives and future environmentally oriented business intentions related to SMEs growth and productivity?

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