Impact Investing: Determinants of External Financing of Social Enterprises in Brazil

Social impact investing and social entrepreneurship have great potential for solving global problems. However, practitioners researchers know little about the entrepreneurial process investors’ criteria. Therefore, we identify determinants of access to external finance enterprises in an emerging economy using a quantitative approach large sample (N = 601). We found that sector, business model, support, development stage, adoption technologies by enterprises. also show green greater funding than other investors are more aware environmental issues less concerned with financial returns. To raise funding, suggest entrepreneurs include their business, quickly validate idea, add intermediary company between enterprise consumer, seek support incubators or accelerators, adopt product service offered.