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Financial Bootstrapping: a critical entrepreneurship skill

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  • Anabela Schinck

    (CEFAGE_UE)

  • Soumodip Sarkar

    ()
    (CEFAGE_UE,Department of Management, University of Évora, Portugal)

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    Abstract

    Bootstrapping finance involving the use of resources to start and grow a venture at the lowest possible or even at no cost, acquires especial significance in times of a credit crunch. In this paper we explore, for the first time the use of bootstrap finance techniques in a small country European case. Based on a sample of ninety-nine Portuguese firms we first determine the most popular bootstrapping strategies, and then we test a set of hypotheses involving several socio-demographic and economic variables, some for the first time in the literature. The results yield some very interesting insights on small business strategies of non-conventional methods of financing. This paper also reveals how these strategies are related to characteristics of the small business owner, namely gender and education, as well as two business characteristics of the firm, that of firm size and internationalization.

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    File URL: http://www.cefage.uevora.pt/en/content/download/3087/41142/version/1/file/2012_20.pdf
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    Bibliographic Info

    Paper provided by University of Evora, CEFAGE-UE (Portugal) in its series CEFAGE-UE Working Papers with number 2012_20.

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    Length: 25 pages
    Date of creation: 2012
    Date of revision:
    Handle: RePEc:cfe:wpcefa:2012_20

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    Keywords: Warrants: Entrepreneurship; financial bootstrapping; small firm financing.;

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