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SELECTED ALTERNATIVE SOURCES OF FINANCING AND THEIR USES IN THE CZECH REPUBLIC
Abstract
Alternative forms of financing are products allowing small and medium-sized enterprises or newly established companies to get financial resources under specific terms and conditions. They play an important role in corporate financing as they supplement services provided by bank sector. Their history in the Czech Republic dates back to the emerging and expanding economic environment at the beginning of the nineties in the 20th century. Since then these alternative forms of financing have beendeveloping on an ongoing basis. The most relevant and also the most frequently used alternative sources of financing cover leasing, but also factoring or subsidies. The paper presents basic characteristics of the above mentioned alternative forms of financing and the history of leasing and factoring services in the Czech Republic during the past decade. Also there is a research hypothesis with regard to the level and scope of use of these alternative forms of financing in particular types of companies. To verify the research hypothesis, the author of the paper carried out a questionnaire survey aimed at the utilization of leasing for financing purposes. Within the scope of this questionnaire survey representatives of various types of companies were addressed. The collected results were analyzed for individual forms of leasing financing and summarized into tables and illustrative graphs by sizes of enterprises and field of business. Conclusions from this analysis became a source for acknowledgement or refusal of the research hypothesis as well as for the determination of the probable expected development in this field for the next few years.
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