The role of anchor institutions in creating value for SMEs: insights from North East of England owner-managers

ABSTRACT

The roles universities are seen to play have changed significantly over the last 25 years. The concept of higher education has, and, continues to morph from a distanced, unengaged ivory tower to a highly engaged community-based concept. Yet there is little in the literature about how universities viewed as ‘anchor institutions’ support organisations. Further, there is an omission of specific detail about the impact of universities on SMEs; they are mentioned but only in broader terms. This empirical study is based on the results of a leadership and business development intervention for 50 UK SMEs. The intervention was facilitated and delivered by a North East University we recognise to be an ‘anchor institution’. The study is longitudinal and embeds innovative composite measurement within a value creation framework with a specific focus on identifying how a North East anchored institution creates impact and value for SME owner-managers. Findings include leadership salience to SME owner-managers, increases in SME turnover and significant gross value added. This study contributes to understanding about what the role of a university, as an anchor institution, is in terms of role, SME impact and value creation, with potential for international application.

KEYWORDS:

• Anchor institution
• SMEs
• leadership and business development
• measurement
• impact
• value creation

Acknowledgments

This work was supported by ERDF under grant number NE007123.

We gratefully thank the reviewers for their insightful guidance which help us to substantially improve our paper in terms of strengthening theoretical argument and providing stronger justification for the methodological approach.

Disclosure statement

No potential conflict of interest was reported by the author(s).

Additional information

Funding

This work was supported by European Regional Development Fund: [Grant Number ne007123].