Conference proceedings article

The patterns of financial bootstrapping behaviour : An empirical explorative study of Swedish SMEs in Jämtland.

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Subtitle: An empirical explorative study of Swedish SMEs in Jämtland.

Author list: Yazdanfar, Darush

Publication year: 2007


Abstract

The aim of this study is to explore the patterns of financial

bootstrapping behaviour of SMEs in Östersund/Sweden. The present research is

based on a structured questionnaire survey and focuses on a sample of 146

SMEs. ‘Financial bootstrapping’ denotes a set of techniques such as reliance on

internal funding sources, low-cost acquisition of financial resources, and

avoidance of external financial resources. The empirical results show that the

sample firms use a wide variety of bootstrapping techniques. In addition,

although the internal resources and social oriented techniques emerged as the

most- and second most highly used financial bootstrapping techniques

respectively, other techniques such as minimising accounts receivable,

minimising capital, and subsidy bootstrapping have been ranked as the most

important bootstrapping techniques. The results from this study contribute to

the understanding of informal financial behaviour of SMEs.


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