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Entrepreneurial Finance

As the body of literature surrounding the subject of entrepreneurial finance develops, both academics and practitioners will have more tools available for understanding the financial aspects of successfully establishing and growing a new business.  In examining...

Business Venture Harvesting and Exit – Harvesting

Harvesting the business requires a strategy, planning, and patience on the part of the entrepreneur.  In harvesting the entrepreneur seeks to maximize the free cash flow after taxes the he/she receives from the business.  Retained earnings and profits from the firm...

Business Venture Harvesting and Exit – Succession

Succession planning can take the form of family succession or passing management to a key employee or partner.  In both types of succession it is important for the entrepreneur to begin planning for succession and, preparing the successor, as early as possible for the...

Business Venture Harvesting and Exit – Liquidation

The process of liquidating the business is straightforward and requires little planning on the part of the entrepreneur.  The process of liquidating the business involves selling all of the business’s assets and repaying the business’s creditors (Henricks, 2009).  The...

Business Venture Harvesting and Exit

The final step in the entrepreneurial process is that of harvesting value from an ongoing firm or exiting the venture.  This aspect of entrepreneurship is often neglected in the literature but is crucial to success.  Most exit models in the entrepreneurship literature...