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Conservation Area Start-Ups: Combining Theory And Practice

Listed author(s):

    (College of Business, Alfaisal University Riyadh, Saudi Arabia)



    (Department of Hospitality and Tourism, Brigham Young University Hawaii, 55-220, Kulanui St., Box 1956 Laie, Hawaii 96762, USA)


    (The Hallstrom Group Honolulu, Hawaii, USA)


    (Red Bull North America Santa Monica, California, USA)

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    Business start-ups by indigenous people in wildlife conservation areas are prone to failure. Funding issues have been identified as a contributing cause of the disappointing results. A great deal has been written about capital structure both in the start-up literature and the corporate literature, but the applicability of this research to small, indigenous start-ups in and around conservation areas is lacking. Although current practice dictates a reliance on equity, we apply the relevant corporate and start-up research to the conservation area context in an attempt to better understand the capital funding question. The results argue that equity funding is appropriate in the early stages for control and liquidity reasons. However, it also shows that greater attention could be paid to some degree of early debt financing to create debt discipline and later debt funding for motivational and financial discipline purposes.

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    Article provided by World Scientific Publishing Co. Pte. Ltd. in its journal Journal of Developmental Entrepreneurship.

    Volume (Year): 15 (2010)
    Issue (Month): 01 ()
    Pages: 55-67

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    Handle: RePEc:wsi:jdexxx:v:15:y:2010:i:01:p:55-67
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