Finding Friends, Family
      and Fools
           Ben Spigel
       Creative Economies
70%
  Aldrich, 1999
100
                                                     125
                                                           15...
There are 5 times more funds
available through informal capital
  than through formal channels




                     Re...
Sources of Capital
Formal                                               Informal
sources                                  ...
Culture affects how entrepreneurs
         access financing
Culture is almost
impossible to define
•                         •
    Ethnic culture            Regional culture

•       ...
How do we think about culture in
      entrepreneurship?
•Regional culture
                     •National/local tax
                     policies
       Formal                    ...
The
                             Entrepreneur
           Ethnic Culture




Regional Culture Religious Culture



National...
Where do we go from here?
Informal Entrepreneurship Presentation
Informal Entrepreneurship Presentation
Informal Entrepreneurship Presentation
Informal Entrepreneurship Presentation
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Informal Entrepreneurship Presentation

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A presentation of some of my thesis ideas to the Creative Economies class at the Martin Prosperity Institute.

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Transcript of "Informal Entrepreneurship Presentation"

  1. 1. Finding Friends, Family and Fools Ben Spigel Creative Economies
  2. 2. 70% Aldrich, 1999
  3. 3. 100 125 150 175 200 20 00 Q 1 20 00 Q 3 20 01 Q 1 20 01 Q 3 20 02 Q 1 20 02 Q 3 20 03 Q 1 20 03 Q 3 20 04 Q 1 20 04 Q 3 20 05 Q 1 20 05 Q 3 Housing Price Index (2000 = 100) 20 06 Q 1 20 06 Q 3 20 07 Q 1 20 07 Q 3 20 08 Q 1
  4. 4. There are 5 times more funds available through informal capital than through formal channels Reynolds et. al, 2002
  5. 5. Sources of Capital Formal Informal sources sources of capital of capital Self Angel Venture Loan from Credit card capitalization Investment Capital family application members and spouse
  6. 6. Culture affects how entrepreneurs access financing
  7. 7. Culture is almost impossible to define • • Ethnic culture Regional culture • • National culture Local culture • • Family culture Corporate culture • • Popular culture Organizational culture • • Modern culture Foreign culture • • Traditional culture Petri dish
  8. 8. How do we think about culture in entrepreneurship?
  9. 9. •Regional culture •National/local tax policies Formal Informal Capital Capital Firm Formation •Human capital •Social capital •Venture capital •Social networks •Business networks •Ethnic/cultural ties Entrepreneur
  10. 10. The Entrepreneur Ethnic Culture Regional Culture Religious Culture National Culture Family Culture
  11. 11. Where do we go from here?
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