Letter from the Editors

The Journal of Entrepreneurial Finance and Business Ventures seeks to extend the focus of its predecessor, The Journal of Entrepreneurial Finance, to emphasize the multidisciplinary nature of entrepreneurship. Accordingly, The Journal of Entrepreneurial Finance and Business Ventures seeks submissions from all areas which focus on entrepreneurship. Our breadth extends both to the practical and the theoretical foundations of the field. We plan to publish both discursive and empirical treatments as well as instructionally oriented issues

Workshop on entrepreneurial finance: a summary

This Policy Discussion Paper summarizes papers that were presented at the Workshop on Entrepreneurial Finance, which was held March 12?13, 2009, at the Federal Reserve Bank of Cleveland. Researchers presented new empirical research that exploits data sets on entrepreneurial activity that are based on broad and representative data samples. Papers in the workshop focused primarily on analyses of the sources and structure of start-up finance, including the importance of bank lending, venture capital, angel investors, and owner equity.Small business - Finance

Entrepreneurial Finance in Egypt: Examination of the Opportunities for a Venture Capital Industry from an Institutional Perspective

This thesis aims to generate an understanding on entrepreneurial finance in Egypt. Furthermore it explores the opportunities for a venture capital industry as a promising tool in entrepreneurial finance. As one of the MENA region’s emerging economies, Egypt is facing economic challenges and high unemployment rates. The Arab spring uprisings added to the pressures upon the economy of Egypt; however, it managed to ignite an entrepreneurial spark among the youth population. Access to finance is an evident hurdle facing entrepreneurship in Egypt. Thus promoting entrepreneurial finance as a growth engine in anticipation to overcome unemployment and slow rates of start-ups might be a plausible solution. Through utilising an institutional theory lens and its institutional determinants, regulatory, normative, and cognitive forces, were found useful to analyse the current entrepreneurial finance environment. This research is an exploratory research; it takes into account both the supply side and demand side of entrepreneurial finance in Egypt. It adopts a qualitative approach for in-depth understanding of the domain and a grounded approach in regard to data gathering for its limited availability on the subject taking the form of a naturalistic enquiry. In doing so it follows an inductive approach to understand the interaction among the supply and demand of finance and the determinants shaping it. This thesis built on secondary data supplied by current research and reports and the primary research conducted via in-depth interviews and participant observations and analysed it from an institutional perspective. According to the findings of this research, it was plausible to argue that the regulatory pillar was held most accountable for the under development of entrepreneurial finance in Egypt. The normative and cognitive pillars both have supportive and inhibiting factors. However, the overall effect of normative and cognitive pillars could be positive if policy makers were able to factor in the cultural and normative forces in policies promoting entrepreneurial finance. The thesis further suggests policy recommendations to enhance entrepreneurship, entrepreneurial finance, and a vivid venture capital industry in Egypt

A journey into the entrepreneurial society

Entrepreneurship is the engine of economic development, which in turn impacts upon the challenges facing future entrepreneurs. This timely book explores institutional, behavioural and policy issues of primary importance to understanding the entrepreneurial society. Topics covered include entrepreneurship in relation to formal and informal institutions; entrepreneurial choice, orientation and success; entrepreneurial behaviours; entrepreneurial finance, growth and economic crises; and entrepreneurship, social dimensions and outcomes

Financing entrepreneurship in times of crisis:Exploring the impact of COVID-19 on the market for entrepreneurial finance in the United Kingdom

This commentary explores the manner in which the current COVID-19 crisis is affecting key sources of entrepreneurial finance in the United Kingdom. We posit that the unique relational nature of entrepreneurial finance may make it highly susceptible to such a shock owing to the need for face-to-face interaction between investors and entrepreneurs. The article explores this conjecture by scrutinising a real-time data source of equity investments. Our findings suggest that the volume of new equity transactions in the United Kingdom has declined markedly since the outbreak of the COVID-19 pandemic. It appears that seed finance is the main type of entrepreneurial finance most acutely affected by the crisis, which typically goes to the most nascent entrepreneurial start-ups facing the greatest obstacles obtaining finance. Policy makers can utilise these real-time data sources to help inform their strategic policy interventions to assist the firms most affected by crisis events.Publisher PDFPeer reviewe

Blockchain and other innovations in entrepreneurial finance: implications for future policy

More than a decade after the Global Financial Crisis (GFC) of 2007–08, entrepreneurial finance has exhibited enormous changes, notably in the rise of alternative nonbank financing. This has been most acutely experienced in the provision and delivery of early stage and innovative business finance—the focus of this special issue. The ensuing innovations in entrepreneurial finance have taken place in developed and developing economies, presenting considerable challenges to policymakers. This editorial paper reviews the special issue articles on this subject and their implications for future research, practice and policy

Digitization in the Market for Entrepreneurial Finance: Innovative Business Models and New Financing Channels

Digitization creates new financial channels that complement traditional intermediaries, but may raise concerns over fraud, cybersecurity, or bubbles. Artificial intelligence and machine learning change the way in which traditional investors work. This special issue focuses on economic, cultural, and regulatory determinants of fintech development, and on the new forms of information production and processing engendered by digital entrepreneurial finance. We provide a general overview of digitization in the market for entrepreneurial finance, illustrate how the different articles in the special issue contribute to advance our knowledge, and identify promising avenues for research