Entrepreneurial Finance for MSMEs

This book provides a framework for understanding micro, small and medium sized enterprises (MSMEs) as important contributors to economic growth. By examining the economic and investment decisions behind these businesses, the author shows how managers of MSMEs can add value to the firm by applying managerial finance tools. Early chapters establish the basic tenets of new venture development and financing and explore the economic environment that business-owners inhabit, focusing on venture capital, microfinance intervention, and public sector interventions. Later chapters guide the reader through the process of financial planning and forecasting, and valuation, finishing with insights into how to harvest investments and make sound financial decisions. The book has interdisciplinary appeal and offers a timely consideration of MSMEs in developing economies. It will be valuable reading for all interested in the management and development of small businesses, the finance of entrepreneurship and policy affecting small and medium sized enterprises.

Specifically focuses on developing countries Provides a good overview of MSME development and their unique characteristics Demonstrates how MSMEs contribute to economic growth Explores the challenges MSMEs face in their development Provides readers with a good understanding of the financial issues confronting MSMEs Applies traditional tools of finance in a developing country context

Autorentext

Joshua Yindenaba Abor is a Professor of Finance and the Dean at the University of Ghana Business School. He is a researcher with the African Economic Research Consortium. Joshua is a Visiting Professor of Development Finance at the UCT Graduate School of Business, University of Cape Town, South Africa, and has also held Visiting Scholar positions at the IMF, Washington DC, USA.

Inhalt

Part 1) The Entrepreneurial Setting.- Chapter 1) Introduction to Entrepreneurial Finance.- Chapter 2) New Venture Development and Sources of Financing.- Chapter 3) Business Planning.- Part 2) The Financial Environment and Finance Providers.- Chapter 4) The Financial Environment and Small Businesses.- Chapter 5) Venture Capital Finance.- Chapter 6) Microfinance Intervention.- Chapter 7) Public Sector Interventions and Small Businesses.- Part 3) Financial Performance and Planning.- Chapter 8) Understanding and Analysing Financial Statements.- Chapter 9) Financial Planning and Forecasting.- Chapter 10) Working Capital Management.- Part 4) Valuation.- Chapter 11) Time Value of Money.- Chapter 12) Evaluating Investment Decisions: Capital Budgeting.- Chapter 13) Valuation of New Ventures and Small Businesses.- Part V) Financing Choice and Harvesting.- Chapter 14) Financing Choice.- Chapter 15) Harvesting the Business Venture Investment.