Exploring Limited Access to Credit, Identifying Adaptive Strategies for Sri Lankan Migrant Entrepreneurs at the Start-Up Phase of the Business in Australia.

Abstract

This study explores the financial constraints and adaptive strategies employed by Sri Lankan migrant entrepreneurs during the startup phase in Australia. Specifically, Sri Lankan entrepreneurs in Australia have faced various constraints, including limited access to credit. These limitations have significantly affected their ability to initiate and grow their businesses in a host country. The main objective of this research is to explore how Sri Lankan migrant entrepreneurs overcome limited access to credit during the startup phase and to offer adaptive strategies to address this constraint. The study uses a qualitative method, involving 12 in-depth interviews with purposive sampling. Thematic analysis was conducted using NVivo for data analysis. The research uncovers that despite these challenges, migrant entrepreneurs demonstrate remarkable resilience and flexibility, employing a variety of strategies such as community cooperative loans, government /entrepreneurship grants, and angel investorsThe study's findings are expected to significantly impact theory, practice, and policy. This research provides evidence on the financial constraints and adaptive strategies employed by Sri Lankan migrant entrepreneurs in Australia, contributing to knowledge on migrant entrepreneurship. This research provides useful insights that can be utilized to create policies and support services aimed at promoting the success of businesses run by migrants.