FLYING TO THE RESCUE FOR ENTREPRENEURS? BUSINESS ANGELS IN SLOVENIA AND POLAND

The significant expansion of business formation is playing a key role in the transformation of centrally planned economies (Jackson et al., 2005). As a result of this, and the development of more a entrepreneurial business culture, the role of endogenous venture capital, equity market provision, and...

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Bibliographic Details
Published inAn Enterprise Odyssey. International Conference Proceedings p. 753
Main Authors Vadnjal, Jaka, Helinska-Hughes, Ewa, Hughes, Michael
Format Conference Proceeding
LanguageEnglish
Published Zagreb University of Zagreb, Faculty of Economics and Business 11.06.2008
Subjects
Angel investors
Banking industry
Capital markets
Case studies
Comparative analysis
Cost control
Debt financing
Economic growth
Entrepreneurial finance
Entrepreneurs
Equity
Private equity
Small & medium sized enterprises-SME
Startups
Studies
Transition economies
Venture capital
Venture capital companies
Poland
Slovenia
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Summary:The significant expansion of business formation is playing a key role in the transformation of centrally planned economies (Jackson et al., 2005). As a result of this, and the development of more a entrepreneurial business culture, the role of endogenous venture capital, equity market provision, and the potential for Business Angels involvement is also growing (Danson et al., 2006). Despite these entrepreneurially driven developments, and the encouragement of individuals to establish new businesses, start-up companies in Poland and Slovenia, they are facing the immediate issue of raising capital. This paper undertakes a comparative analysis of Business Angels in Poland and Slovenia as part of they represent a key part of the response and solution to this problem. Their primary motivation in Poland and Slovenia as elsewhere is capital growth, and they seek to fill an equity gap and compensate for failures in the venture capital market wherever they appear (Vadnjal, 2007). The study documents the current state of Business Angel activity and networking within the private equity market in Poland and Slovenia, based on interviews and case studies. Therefore, it informs the analysis of key functions that Business Angels can play in addressing problems faced by new small businesses in an emergent economic and investment environment. [PUBLICATION ABSTRACT]