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date: 30 September 2020

Abstract and Keywords

This article is primarily focused on further developing the theme of the political economy way of evaluating the impact of Small and Medium-sized Enterprise (SME) policies. It reaches five key conclusions. First, that evaluation needs to become more central to the policy-making process. Evaluation should not be undertaken solely as a historic accounting exercise to determine whether public money has been spent wisely, although that role is of value. Instead of being, ‘at the end of the line’, evaluation should be used to inform current policy, so that current objectives and targets may be modified in the light of evidence of policy effectiveness. Hence considerations of how policy is evaluated should therefore be incorporated into policy formulation when new ideas are being developed. They could even influence the choices made by governments about how best to engage with SMEs. Specifically, evaluation has to be incorporated as a key element in policy development.

Keywords: SME policies, political economy, policy-making process, public money, new ideas, policy development

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