ABSTRACT

Through the words of the artisans themselves, it is clear that the reality of their world mainly involves saving for the purchase of tools and machinery, sometimes with family and other support. There is a wide range of sources, but the family is the most important source of start-up and development capital. Credit is provided by suppliers of raw materials and there is a constant struggle to earn enough money to pay the rent of their workshops, for which no bank would ever provide a loan. Those with a start-up loan were more likely to apply for a development loan but, after the banking crash, those who had received a start-up loan were less likely to receive a development loan. Reluctant to borrow, the artisans express little desire to employ more workers or grow into small capitalist firms – and even less to risk their businesses in entanglements with banks.