HCBE Faculty Articles

Title

Empirical Study of Financing Barriers to Women Entrepreneurship in the state of Alabama

Document Type

Article

Date

2016

Publication Title

Southern Business & Economic Journal

Volume

39

Issue

1

First Page

1

Last Page

17

Description

Entrepreneurship has attracted the attention of many and is seen as the economic engine that has the potential to deliver future job growth. Because of this potential it is crucial to identify what drives entrepreneurship. Extant literature has focused on entrepreneurial wealth-sufficient collateral-as a liquidity constraint hindering small business capitalization. Our study empirically investigates the expected linkage between personal wealth constraints and intention to start a business for women entrepreneurs in the state of Alabama. Further we examine the effect of availability of public financing support mechanisms on women entrepreneurship in the state of Alabama. Our results from a survey of 1200 women intending to start a business in Alabama reveal that presence of public financing programs can mitigate the lack of personal wealth and liquidity constraints that thwart business start-ups. We conclude our study with implications for women entrepreneurs, policy makers and for future research.

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