摘要：Entrepreneurship financing is a challenge for company managers in every industry.Competitive market requirements and advancing globalization trigger continuous changes in economic conditions that companies are constantly adjusting to.Capital flows enabling efficient financing and development of businesses should be mobile,with a direct bearing on decisions on capital allocation.Thus,the following questions arise: what sources,in addition to equity and loans,are used by small and mediumsized enterprises in Poland? Do they make use of all the possibilities available in the capital market and what are the reasons behind their choices regarding development strategies and funding sources for such strategies? This article builds on the authors’ own research on companies’ survival and preferences as to the choice of financing sources in the various stages of development,carried out on the basis of source data from various annual reports and publications that have been produced and made available by capital market institutions.It also addresses diversification of financial portfolios of companies that seek financing sources for their own entrepreneurship that allows their development,efficiency and maximization of performance,and thus consolidation of their market position,including through venture capital.
关键词：SMEs;financing source;venture capital;company age
