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date: 25 February 2020

Abstract and Keywords

Access to finance is necessary for the efficient allocation of capital and firm growth. However, most surveys find that current and potential entrepreneurs report that access to finance is one of the biggest hurdles to starting and growing a new business. For instance, in the World Bank Enterprise Surveys (2009), 31 percent of firm owners around the world report access to finance as a major constraint to growth, while this figure is 40 percent for firms under three years of age. Given the important role that entrepreneurship is believed to play in the process of economic growth, many governments around the world are concerned with alleviating financing constraints for current and potential entrepreneurs.

Keywords: entrepreneurial finance, capital growth, access to finance, new business, growth constraint, entrepreneurship

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