Abstract:
Funding is critical; to the smooth take-off and, ensures the effective
functioning and guarantees the continued existence of any new venture.
Financing entrepreneurial ventures has particularly been challenging in all
kinds of economies including knowledge-based economies. The inability to
overcome funding problems has forced many people with ambitious ideas that
would have been launched audaciously towards economic emancipation and
development to forcefully discard them. The objective of this paper is to
identify different sources of entrepreneurial financing, and review extant
literature associated with the various sources of financing. The study is
qualitative in design. Consequently a total of ninety articles considered useful
were retrieved from various sites for the study. The discovered numerous
avenues available for entrepreneurial financing. while, the study concludes
that every aspiring entrepreneur must prepare to launch out first with
founders, family, and relatives capital and thereafter explore a catalogue of
other sources mentioned in this paper depending on the firm‟s capabilities and
peculiarities to continue with the financing of the firm. The research
recommends that every entrepreneur should be skillful at bootstrapping.
