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Strategies For Sourcing Funding For Startup Businesses In Nigeria, Nelly Nwabuisi Adiawari Oburo
Strategies For Sourcing Funding For Startup Businesses In Nigeria, Nelly Nwabuisi Adiawari Oburo
Walden Dissertations and Doctoral Studies
Some small and medium enterprise (SME) owners are challenged with sourcing adequate funds to start and continue in business. Financing SMEs is critical to their owners to ensure they can remain financially viable and continue contributing to Nigeria’s gross domestic product and economic growth. Grounded in the pecking order theory and the financial growth cycle theory, the purpose of this qualitative multiple case study was to explore strategies owners of startup SMEs in Federal Capital Territory (FCT), Nigeria, can adopt to source funds required to start and sustain a business beyond 5 years. Data were collected through semistructured interviews from …
Crowdfunding As A Financing Resource For Small Businesses, Melissa Cohen
Crowdfunding As A Financing Resource For Small Businesses, Melissa Cohen
Walden Dissertations and Doctoral Studies
Although small businesses borrowed $1 trillion in 2013 from traditional lenders, 35% of small business owners were unable to obtain adequate financing and subsequently sought alternative sources such as crowdfunding. Guided by the pecking order theory, the purpose of this exploratory case study was to explore how 6 small business owners in Tennessee successfully used crowdfunding to start, grow, or sustain their businesses. Data were collected from semistructured interviews and a review of crowdfunding project data on the internet platform including the project description, target goal, amount achieved, number of backers, and locations of the funders. Data were inductively analyzed, …