A study economics shows that greater agility in the sales system only increases a company’s profits if the structure and management of the sales channels are carefully considered / publication in the “International Journal of Research in Marketing”

Research across 59 countries shows venture debt reshapes startup finance by reducing early-stage equity, increasing late-stage investment, and expanding the total pool of capital

A new international study has found that venture debt is reshaping how capital moves through technology startup ecosystems around the world. Analysing data from 59 countries between 2015 and 2024, the researchers show that greater venture debt availability is associated with lower early-stage equity funding, higher late-stage equity funding and a positive overall effect on the total capital available to startups.

Published in International Review of Economics and Finance by researchers from the Edinburgh Business School based at Heriot-Watt University, the study is the first to provide an international comparison of venture debt and its influence on equity funding. The research argues that venture debt should not be seen as a passive supplement to equity, but as a strategic financial instrument that can reshape innovation pathways.