| Abstract: |
The article discusses the challenges faced by small and medium-sized
enterprises (SMEs) in obtaining finance, which is a critical issue for their
growth and profitability. It highlights that SMEs often lack collateral and
financial history, which makes it difficult for them to obtain loans from
traditional financial institutions. The article then explores two approaches
to entrepreneurship, Effectuation and Bricolage, which focus on internal
resourcefulness and making the most of what is available, regardless of
long-term returns. The paper lists ten strategies that entrepreneurs can adopt
including embracing affordability logic, engaging in networking and
collaboration among others. By implementing these strategies, SMEs can
overcome funding challenges and achieve sustainable growth. |