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What this book covers

The aim of this book is to make the case for a fresh, straightforward approach to raising risk capital for enterprise in order to create wealth. It makes this case by looking at our rich inheritance of private enterprises and supporting capital and credit systems in the major market economies, examining situations where conventional approaches may cause problems, and seeking solutions through a system called royalty funding.

Risk capital matters: it is the financial bedrock of all active enterprise. Without it, no enterprises can start up or function, whether sole traders, partnerships, private or listed companies, not-for-profit organisations, co-operatives, mutual societies or even public sector undertakings.

Likewise, our enterprises themselves matter, since they are essential to our social and economic wellbeing: collectively through their activities and the wealth they generate, they underpin our health, education, defence, employment, environment, entertainment, public order and much else besides. Consequently, the ownership and control of enterprise matter, since they ultimately determine its direction and behaviour: if one changes, so may the other.

The context of this book is the private sector enterprise, of all shapes and sizes, which supplies goods and services of one type or another. Public sector enterprise, however substantial it may be, lies outside its scope. Nor does the book discuss grand historic or military endeavours such as the voyages of Columbus or that Great Enterprise of 1588, the Spanish Armada. ^[1]

Endnote

1 From the title of the book edited by Stephen Usherwood, The Great Enterprise: The History of the Spanish Armada (The Folio Society, 1978). [return to text]