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      Financial bootstrapping among Costa rican small businesses: an exploratory study Translated title: Bootstrapping financiero en la pequeña empresa costarricense: un studio exploratorio

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          Abstract

          ABSTRACT This study identiftes and analyzes the ftnancial bootstrapping techniques commonly used by small businesses in Costa Rica. The empirical application uses a unique sample of 161 Costa Rican SMEs for 2017. The results of the parallel factor analysis reveal that the analyzed SMEs adopt different types of bootstrapping techniques primarily related to the owners, customers, and alliances that facilitate the joint utilization of facilities and other assets. Entrepreneurs bootstrap their businesses to reduce the reliance on external ftnancing. In this sense, the results of this study show that, rather than simply using what entrepreneurs are familiar with (e.g., credit from family or friends), Costa Rican small business managers are exploring and actively using a wide array of alternative methods in order to access ftnancial resources.

          Translated abstract

          RESUMEN Este estudio propone un análisis de las técnicas de ‘financial bootstrapping’ comúnmente utilizadas por las empresas en Costa Rica. La aplicación empírica utiliza una base de datos única que incluye información de 161 pequeñas y medianas empresas (pymes) costarricenses para 2017. Los resultados del análisis de factores paralelos revelan que las pymes analizadas adoptan diferentes tipos de técnicas de ‘financial bootstrapping’ principalmente asociadas a los propietarios, clientes y alianzas que facilitan la utilización conjunta de las instalaciones y otros activos. Los empresarios emplean técnicas de ‘ftnancial bootstrapping’ en sus negocios para reducir la dependencia del ftnanciamiento externo. En este sentido, los resultados de este estudio muestran que, en lugar de simplemente usar métodos que son familiares a los empresarios (por ejemplo, crédito de familiares o amigos), los gerentes de la pequeña empresa en Costa Rica están explorando y activamente utilizando una amplia gama de métodos alternativos para acceder a recursos ftnancieros.

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          Most cited references 26

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          Initial human and financial capital as predictors of new venture performance

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            Venture capital financing and the growth of startup firms

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              Women entrepreneurs who break through to equity financing: The influence of human, social and financial capital

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                Author and article information

                Contributors
                Role: ND
                Role: ND
                Journal
                tec
                Tec Empresarial
                Tec Empre.
                Instituto Tecnológico de Costa Rica (Cartago, Cartago, Costa Rica )
                1659-2395
                1659-3359
                April 2020
                : 14
                : 1
                : 2-11
                Affiliations
                orgnameInstituto Tecnológico de Costa Rica orgdiv1Escuela de Administración de Empresas Costa Rica malvaradom@ 123456ulacit.ac.cr
                orgnameInstituto Tecnológico de Costa Rica orgdiv1Escuela de Administración de Empresas Costa Rica rmora@ 123456itcr.ac.cr
                Article
                S1659-33592020000100002 S1659-3359(20)01400100002
                10.18845/te.v14i1.4951

                This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 3.0 International License.

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                Figures: 0, Tables: 0, Equations: 0, References: 30, Pages: 10
                Product
                Product Information: SciELO Costa Rica

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