Business angels as an alternative to financial support at the early stages of small businesses’ life cycle
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Дата
2018
Автори
Pedchenko, Nataliya
Strilec, Victoria
Kolisnyk, Galina M.
Dykha, Mariia V.
Frolov, Serhiy
Назва журналу
Номер ISSN
Назва тому
Видавець
LLC “Consulting Publishing Company “Business Perspectives”
Анотація
In the process of small business establishment and development, it is very important
to understand both the financial needs of entrepreneurs and the main obstacles and
difficulties arising in the way of financing. Alternative sources of financial support,
along with traditional ones, create opportunities to increase funds, but the solution
to the issue of their attraction should be based on modern effective methods and decision-
making technologies. The article uses the decision tree method to determine
the optimal alternative to financial support of small business at the early stages of the
life cycle. The results highlight the importance of alternative source of resources for
small business entities, namely business angels’ means. The empirical and statistical
analysis confirms that access to alternative sources of financing for small businesses in
EU countries is improving, while in Ukraine, informal financing is a rather new and
underdeveloped area. Based on the analysis of the advantages of using the business
angels’ funds, it was concluded that they need to implement their potential in small
business of Ukraine. The results show that the decision tree method is an effective tool
for deciding on the prioritization of a financial alternative to the small business, and is
characterized by ease of use, forecast precision and problems solution novelty.
Опис
Ключові слова
financial support, small business, financial resources, business angels, decision tree
Бібліографічний опис
Business angels as an alternative to financial support at the early stages of small businesses’ life cycle / Nataliya Pedchenko, Victoria Strilec, Galina M. Kolisnyk, Mariіa V. Dykha, Serhiy Frolov // Investment Management and Financial Innovations. – 2018. – Vol. 15, Iss. 1. – P. 166–179.(doi:10.21511/imfi.15(1).2018.15)