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dc.contributor.authorRupeika-Apoga, Ramona-
dc.contributor.authorSaksonova, S.-
dc.identifier.citationRupeika-Apoga, R., & Saksonova, S. (2018). SMEs’ alternative financing : the case of Latvia. European Research Studies Journal, 21(3), 43-52.en_GB
dc.description.abstractThis article analyses the ways how companies operating in EU countries attract alternative financial resources. The importance of non-traditional, alternative/innovative financing is gaining recognition in both developed and emerging economies throughout the world. SMEs’ financing in Europe remains primarily bank based, in spite of many policies proposed to develop alternative financing instruments (e.g., adopting directives on venture capital, improving the transparency and visibility of SMEs on capital markets, etc.). The research is therefore to expose recent trends in alternative financing in EU, significantly enhancing the evidence base on this key source of entrepreneurial finance. As a source of ‘smart money’, supporting new and early stage businesses, alternative providers are widely accepted as being a critical part of the competitiveness enhancement. Generally accepted qualitative and quantitative methods of economic research were applied in this paper, including in-depth face-to-face interviews with the board members of the nine banks of Latvia, operating in the other Baltic and Nordic countries as well as 1200 companies’ owners or top managers. Main findings show that alternative financial service providers are competing and often outcompeting the traditional ones at high speed. Conducted empirical analysis shows the most available financing sources except banking products are Friends and Family (FF) and different state (including EU grants) support programmes, Venture Capital (VC) and Business Angels (BA).en_GB
dc.publisherUniversity of Piraeus. International Strategic Management Associationen_GB
dc.subjectSmall business -- Latviaen_GB
dc.subjectSmall business -- Management -- Latviaen_GB
dc.subjectSmall business -- Accounting -- Latviaen_GB
dc.subjectSmall business -- Finance -- Latviaen_GB
dc.subjectAngels (Investors) -- Latviaen_GB
dc.subjectCrowd funding -- Latviaen_GB
dc.subjectVenture capital -- Latviaen_GB
dc.titleSMEs’ alternative financing : the case of Latviaen_GB
dc.rights.holderThe copyright of this work belongs to the author(s)/publisher. The rights of this work are as defined by the appropriate Copyright Legislation or as modified by any successive legislation. Users may access this work and can make use of the information contained in accordance with the Copyright Legislation provided that the author must be properly acknowledged. Further distribution or reproduction in any format is prohibited without the prior permission of the copyright holder.en_GB
dc.publication.titleEuropean Research Studies Journalen_GB
Appears in Collections:European Research Studies Journal, Volume 21, Issue 3

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