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Tec Empresarial

On-line version ISSN 1659-3359Print version ISSN 1659-2395


ALVARADO, Marco  and  MORA-ESQUIVEL, Ronald. Financial bootstrapping among Costa rican small businesses: An exploratory study. Tec Empre. [online]. 2020, vol.14, n.1, pp.1-10. ISSN 1659-3359.

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 bootstrappingtechniques 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.

Keywords : Financial bootstrapping; small business finance; Costa Rica.

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