FUNDPRENEURSHIP”: DEVELOPING A PECULIAR PROCEDURAL FUNDING FOR THE ENTREPRENEUR

Abstract

and reduce poverty. The objective of this article is to bring to the fore, the need for the initiation of adequate 
procedural and fund procurement process for the development of entrepreneurship in developing 
economies. The article introduced a new terminology “Fundpreneurship” to the literature of finance to 
draw attention to the provision of stage by stage release of fund for the entrepreneur in developing 
countries. Fund provision process and fund-providers should follow the attendant peculiarities of new 
business ideas to prevent potentially viable entrepreneurs from fund-starvation at critical stages of 
development. Risk mitigation techniques should be planned alongside fund provision to boost the 
confidence of entrepreneurs and would-be entrepreneurs. Furthermore, this paper also emphasized that, 
strategic entrepreneurial efforts in maritime businesses like, shipping and port related services must not be 
starved of funding at any stage of development. Thus, procedural funding is a necessity in the maritime 
sector.