Edited by Adam Novotny, Einar Rasmussen, Tommy H. Clausen and Johan Wiklund
The objective of this study is to explore the relationship between outsider support in terms of financial capital and advice and new firm birth and subsequent firm outcomes. Financing and advice constitute key parts of an entrepreneurial ecosystem. We compare government support with financing and advice obtained from banks. Data for this study relates to 1,048 entries in a Norwegian business register during four weeks in 2002. We received follow-up data from the Norwegian tax authorities in 2016 concerning information on firm outcomes. The findings indicate that receiving capital and good advice from banks is more strongly related to firm birth than obtaining government capital and advice. Further, receiving bank financing and advice is positively related to several subsequent firm outcomes, but receiving government support is not related to such outcomes.
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