Comparative Evaluation of Financing Strategies for Entrepreneurs (Case Study: Entrepreneurs in the Tourism Organization)

One of the most important challenges in the face of entrepreneurs or perhaps the main obstacle for establishment and continuation of their business is financing. Thus, the aim of the present study is comparative evaluation of financing strategies for entrepreneur of cultural heritages, handicrafts and Tourism Organization in Mazandaran province. Sample of 25 entrepreneurs related to Tourism Organization were according to the definition provided by the Global Entrepreneurship Monitoring (GEM). Required data is extracted by means of documents. To affirm the assumptions, the efficiency of both conservative and aggressive financing strategy is evaluated in the form of mathematical models. Results have shown that among the entrepreneurial projects of the 25 cases reviewed, only in five projects including 12, 14, 15, 19 and 23, entrepreneurs properly have selected their financing strategies and about twenty others have chosen their strategies wrong. Finally, based on the results, some suggestions are offered and it is concluded that entrepreneurs had better choose aggressive or conservative financing strategies according to innovation and expected output of projects.

Strategy, Financing, Entrepreneurs, Tourism, Mazandaran