That small firms will be constrained in their ability to recruit, train and retain highly qualified and competent managers is to be anticipated -- given the lack of internal labour markets, levels of required remuneration, relatively high training costs (in both time and finance), and potential for `poaching' (see Westhead and Storey, 1996; ACOST
, 1991; Oakey, 1997).
Venture capitalists' intuitive acknowledgement of the economic importance of NTBFs is supported by several academic studies (for example, Monck et al, 1988; Rothwell, 1989; ACOST
, 1990) which indicate the key contribution made by NTBFs in the UK to R&D efficiency, economic growth and employment.
ACOSTS might include an arrangement fee, survey fee or an insurance premium.
ACOSTS might include an arrangement fee, survey fee and insurance premium if the amount is most of the value of the house, but substantial savings can still be made as many societies waive these expenses or refund some of the cost.
Instead, the 2011 tariffs for these two branches are to be set on the basis of the so-called long-term parameters method, which, although being more progressive than the current acosts plus' approach, does not stipulate as high tariff growth as the RAB-based system.