engleski

State of the early stage market in Croatia

The availability of various sources of funding for start-up, development and growth of entrepreneurial activity is very limited in Croatia. The financial market for entrepreneurial project in Croatia is still tradionional. Bank and credit union loans, government incetive programmes and subsidised credit lines dominante over alternative sources of finance like venture capital and business angels. Furthemore, Croatia records low availability of non-traditional sources of financing for small and medium enterprises during the entire period of the GEM research period from 2002 till 2016. The activity of business angels, early venture capital and crowdfundig on the domestic market are still small and at early stage of development ie the market is underdeveloped. The goal of this paper is to examine and analyze the presence, curent state and the importance of the early investment market in Croatia. The research is both qualitative and quantitative and involves an identification, analysis and research on the early stage investment market in Croatia. The data for business angels and early venture capital are shown for the period from 2008 to 2015, while the period for crowdfunding is from 2014 to 2016. The data necessary for the current research were taken from three different public available sources.

Business angels ; Croatia ; crowdfunding ; venture capital

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