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Raising financial resources for small and medium enterprises: a multiple case study with Brazilian venture capital funds in the cities of Rio de Janeiro and São Paulo

Author

Listed:
  • Julio Vieira Neto
  • José Rodrigues de Farias Filho
  • Osvaldo L.G. Quelhas

Abstract

This paper addresses questions related to small and medium enterprises (SMEs). The intermediate objective is to conduct an exploratory study of the socioeconomic importance of SMEs and the difficulties SMEs face in raising funds. The literature review indicates that the main factors responsible for the slow growth or the failure of SMEs in Brazil and worldwide are the company owners' lack of management training, followed by a deficiency in an SME's ability to acquire and manage financial resources. Exploratory research was performed, followed by a multiple case study that includes interviews of six investors, three located in the city of Rio de Janeiro and three located in the city of São Paulo. The result of this study indicates that the most important criteria used by venture funds when deciding to invest in SMEs are the management, the quality of the team and the level of entrepreneurial skills.

Suggested Citation

  • Julio Vieira Neto & José Rodrigues de Farias Filho & Osvaldo L.G. Quelhas, 2014. "Raising financial resources for small and medium enterprises: a multiple case study with Brazilian venture capital funds in the cities of Rio de Janeiro and São Paulo," International Journal of Innovation and Sustainable Development, Inderscience Enterprises Ltd, vol. 8(1), pages 77-91.
    • Handle: RePEc:ids:ijisde:v:8:y:2014:i:1:p:77-91
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    Citations

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    Cited by:

    1. André Cherubini Alves & Bruno Brandão Fischer & Nicholas S. Vonortas, 2021. "Ecosystems of entrepreneurship: configurations and critical dimensions," The Annals of Regional Science, Springer;Western Regional Science Association, vol. 67(1), pages 73-106, August.
    2. Bruno Fischer & Paola Rücker Schaeffer & Sérgio Queiroz, 2019. "High-growth entrepreneurship in a developing country: Regional systems or stochastic process?," Contaduría y Administración, Accounting and Management, vol. 64(1), pages 59-60, Enero-Mar.
    3. Fischer, Bruno Brandão & Moraes, Gustavo Hermínio Salati Marcondes de & Schaeffer, Paola Rücker, 2019. "Universities' institutional settings and academic entrepreneurship: Notes from a developing country," Technological Forecasting and Social Change, Elsevier, vol. 147(C), pages 243-252.

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