1. Overview: Financing of Entrepreneurial Firms

2. To this point… Overview Assess the Performance Determine Cash Needs – Short and Long Term Now…

3. Finance in Layers Seek layers of financing Cheapest cost of capital first Conflict For early stage firms, a great deal of ‘cheap’ capital (bank loans, etc.) aren’t available till they have collateral or sufficient operational cash flow

4. The Layers

5. The Layers

6. The Layers

7. The Layers

8. The Layers

9. The Layers

10. The Layers

11. The Layers