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An Investigation of the Types of Problems Faced by Small Firms and How They Affect the Funding Choices Made by Three Distinct Market Segments

Author

Listed:
  • Barbara K. Fuller

    (Winthrop University)

  • Darrell F. Parker

    (University of South Carolina Upstate)

Abstract

This article looks at the relationship between the problems faced by small business owners and the funding sources used to solve those problems. Three problem types are identified: organizational systems, external, and sales and marketing problems. Based on these three problem types and the funding sources used by owners, the market is segmented into three groups using cluster analysis. Segment 1 is made up of firms with few problems. This segment uses the widest array of financial sources. Segment 2 has more problems than segment 3, but both need help with organizational systems resulting in the use of fewer sources.

Suggested Citation

  • Barbara K. Fuller & Darrell F. Parker, 2008. "An Investigation of the Types of Problems Faced by Small Firms and How They Affect the Funding Choices Made by Three Distinct Market Segments," Journal of Entrepreneurial Finance, Pepperdine University, Graziadio School of Business and Management, vol. 12(3), pages 71-91, Summer.
  • Handle: RePEc:pep:journl:v:12:y:2008:i:3:p:71-91
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    More about this item

    Keywords

    Firm ; Small Firms; Small Business;

    JEL classification:

    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
    • L25 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Firm Performance
    • M13 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - New Firms; Startups

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