Media releases

• Goodman research shows personal loans don’t help startups in the long run

  Wednesday, February 28, 2018 | By Brock University

  MEDIA RELEASE: 28 February 2018 – R00040

  One of the first things entrepreneurs worry about is how to secure funding for their business ideas. Some go the traditional route and borrow from a bank, while others look to personal credit cards or loans from family and friends.

  However, new research from Brock University shows that the type of loan goes a long way in predicting a new startup’s success.

  In the first research study of its kind, Tatyana Sokolyk, Associate Professor of Finance at Brock’s Goodman School of Business, along with her co-author, Professor Rebel Cole from Florida Atlantic University, studied the financial performance of more than 4,000 startups to find out which type of loan was most closely related to the company’s success.

  They found companies that secure business loans in the company’s name generate more than four times the revenue than those which fund their business by personal debt.

  “We teach that it is critical for companies to have access to financial capital while they focus on building their venture, but until now, the research in this area had not differentiated capital types,” Sokolyk says.

  “Banks choose what startups to extend loans to, and their due diligence and monitoring can help the startups to be more successful, but only where the entrepreneur has taken the time to apply for a business loan.”

  Sokolyk is available to comment on:

  • How entrepreneurs should seek funding to increase success
  • How and why companies’ success (revenue growth and survival) is linked to the type of funding it receives in their early stages
  • The difference between business lending and personal lending
  • Why it’s important for entrepreneurs to have a high level of business financial literacy

  For more information or for assistance arranging interviews:

  * Dan Dakin, Media Relations Officer, Brock University ddakin@brocku.ca, 905-688-5550 x5353 or 905-347-1970

  Brock University Marketing and Communications has a full-service studio where we can provide high definition video and broadcast-quality audio.

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  Categories: Media releases

• Community to benefit from new Brock University free parking model

  Tuesday, February 27, 2018 | By Brock University

  MEDIA RELEASE: 27 February 2018 – R00039

  It will soon be easier for visitors to Brock University to access campus, thanks to a new parking model coming this spring.

  From May 1 through Aug. 31, parking permits and meter receipts will no longer be needed for Zones 1 and 2 during the spring and summer months. The lots, which are on the west side of Glenridge Avenue and Merrittville Highway, will be open for all employees, students and visitors to park day and night, except between 2 and 5 a.m.

  From Sept. 1 through April 30, Zones 1 and 2 will be free after 6 p.m. on weekdays, and all day on weekends, except between 2 and 5 a.m.

  Brock President Gervan Fearon said the new model will favourably impact hundreds of Niagara residents who come to campus for everything from lectures and conferences, to swim lessons and participating in projects with Brock researchers.

  The new model also adds value to the University’s Spring/Summer course offerings, which run from May until the end of August.

  Fearon said that in the seven months since he first arrived at the University, he has heard members of the public say that parking costs dissuade more people from coming to campus.

  “We hope this small change during less busy times can help provide our community partners with more opportunities for engagement,” he said. “Brock is the community’s university. We must make sure our neighbours feel welcome when they come to campus.”

  More information on the refund process and frequently asked questions about the new parking model is available at brocku.ca/parking

  For more information or for assistance arranging interviews:

  * Dan Dakin, Media Relations Officer, Brock University ddakin@brocku.ca, 905-688-5550 x5353 or 905-347-1970

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  Categories: Media releases