Entrepreneurial Finance Alternatives in the Digital Era: A Systematic Review and Future Agenda

Abstract

The role of entrepreneurship in economic growth of the country is indispensable especially in the context of developing economies. Start-ups are often at the forefront of technological innovation, developing new products, services, and solutions that can drive economic growth and improve efficiency in various sectors. Within the myriad challenges confronted by entrepreneurs, financing stands out as the paramount concern. By systemic review of 72 high-quality peer reviewed research papers, we try to explore the novel financing alternatives available to entrepreneurs in the digital era over the life cycle of start-ups. Secondly, we examined the opportunities and challenges associated with the use of these alternatives. The analysis reveals that among the novel sources, peer to peer lending and crowdfunding are the popular choices among entrepreneurs. Lastly, the future agenda for further research is proposed.