Nurturing travel and tourism enterprises for economic growth and competitiveness

Abstract

Small and medium-sized enterprises are often constrained by their size and limited resources. They can find themselves in an equity gap where they may find it difficult to raise capital for their business. Consequently, this contribution involves a content analysis of specific European Union policies and instruments that are aimed at supporting small and medium-sized enterprises in accessing finance. Moreover, it also presents a short case study of a tourism start-up that has raised its capital requirements through crowdfunding. This research sheds light on practitioner-oriented tools that can ultimately foster a climate for job creation, economic growth and competitiveness among small and medium-sized enterprises in the tourism and hospitality sectors.