• Business start-ups, closures and economic churn
  • A review of the literature
  • Executive Summary
  • 1. Introduction
  • 2. The theoretical foundations
  • 3. The definition of economic churn
  • 3.1 Unit for consideration – plant or firm?
  • 3.2 Types of entry and exit
  • 3.3 The importance of industry
  • 3.4 The importance of time
  • 3.5 Conclusions
  • 4. Measurement of entry, exit and churn
  • 4.1 Conclusions
  • 5. Rates of churn
  • 5.1 Churn at the regional level
  • 5.2 Conclusions
  • 6. The impact of churn on the economy
  • 6.1 Productivity
  • 6.2 Empirical studies of the productivity impact of churn
  • 6.3 Employment
  • 6.4 Economic growth
  • 7. The costs of churn
  • 7.1 Conclusions
  • 8. Alternative modes of entry and exit
  • 8.1 The entry decision
  • 8.2 Entry by diversifying firms
  • 8.3 Changes in ownership
  • 8.4 Modes of exit
  • 8.5 Conclusions
  • 9. Start-ups and closures: the UK experience
  • 9.1 Competing theories of the firm
  • 9.2 Business start-ups
  • 9.3 Technology and innovation
  • 9.4 Survival versus exit
  • >9.5 UK industrial start-up policy
  • 9.6 Conclusion
  • 10. Analysing churn from the top-down
  • 11. Proposals for future analysis
  • 11.1 Rates of churn
  • 11.2 Churn and productivity
  • References
  • Annex 1: Table of Evidence