Sonja Markova () (MBA, Keiretsuforum, San Francisko, USA) Tatjana Petkovska-Mircevska () (Institute of Economics, Skopje, Makedonia)
Abstract
Entrepreneurship is the practice of starting new organizations or revitalizing mature organizations, particularly new businesses generally in response to identified opportunities. The classic entrepreneurship is the “Start-Up”, where a raw idea develops into a highgrowth company and the success involves strong main entrepreneur and a team with complimentary talents. Start-ups are the engine for job creation and economic growth. The lifecycle of a new venture includes seed stage, start-up stage, early stage, and later stage. Securing funding for a start-up in its early stages is from internal sources. The funder provides the initial capital, along with funds from family and fiends (3Fs), and the firm also relies on bootstrapping & business alliances. As the firm grows and needs additional capital, it will require external sources of funding: business loan from a bank, governmentsponsored programs/grants, professional investors (angel investors, venture capitalists, and corporate investors), initial public offering (IPO) and the equity markets. This article provides an overview of the funding options for start-up ventures with special emphasis on business angels and venture capital.
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Volume (Year): 11 (2009) Issue (Month): 26 (June) Pages: 597-604 Download reference. The following formats are available: HTML
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