Van Auken & Neeley (2010) further refined the definition of bootstrap financing to include those sources of capital used after exhausting personal savings, but not personal capital or loans from banks.
Bootstrap financing techniques among small enterprises in Osogbo metropolis.
Relationship between bootstrap financing, Number of employees, and small business success.
The Use of Bootstrap Financing Among Small Technology-Based Firms, Journal of Developmental Entrepreneurship, 9(2), 145-159.
The above positioning statement is supported by the recent observations of other scholars such as Van Auken, (2005) who observed: "Although bootstrap financing commonly is used and is an important source of capital, few....
Van Auken observed a "serious gap in the literature" (in apparent concurrence with the authors of this paper) and stated that "research on the use of bootstrap financing is limited" (Van Auken, 2005, p.95), even though "bootstrap financing is a common source of financing" (p.
Evidence of Bootstrap Financing Among Small Start-up Firms.