Some continuing infirmities that especially hurt new firms: o  Infrastructure plus logistics: Weighted against the small.   o o  Roads, ports, airports, power, internet marketplaces  Land: Weighted against the new.   2  Entry of 23 new banks  Competition between states  Finance: Weighted against new and untried. Changing with technology and new institutions.
  Small firms and small banks – evidence: Small finance banks    Unique ID: Government    TReDS    Start-ups – liberalizing  BIS central bankers’ speeches  •  Still uneven playing field on distress. o  o  o  Resolving large firms very difficult: Workers as pawns.