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Entrepreneurship Research Journal

Ed. by Alter, Theodore / Hughes, Mathew / Labaki, Rania / Lyons, Thomas / Mishra, Chandra / Mustafa, Michael / Zachary, Ramona K.

IMPACT FACTOR 2018: 1.625
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Building Impact Businesses through Hybrid Financing

Maximilian Martin
  • Corresponding author
  • Founder and Global Managing Director, Impact Economy SA; Lecturer, University of St. Gallen, Switzerland
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Published Online: 2015-04-09 | DOI: https://doi.org/10.1515/erj-2015-0005


The paper shows how social enterprises can be funded efficiently, and in ways that are compatible with their underlying business models, by combining both grants and different forms of investment capital. Financial sustainability remains one of the most pressing issues facing the social enterprise sector, despite rapid development over the past few decades. The paper sheds light on select funding instruments revealing how hybrid financing strategies can enable and enhance the organic growth of social enterprises and drive greater impact.

Keywords: social entrepreneurship; hybrid financing possibilities for social entrepreneurs; efficient funding of social enterprises; effective use of different pools of capital; impact investing


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About the article

Published Online: 2015-04-09

Published in Print: 2015-04-01

Citation Information: Entrepreneurship Research Journal, Volume 5, Issue 2, Pages 109–126, ISSN (Online) 2157-5665, ISSN (Print) 2194-6175, DOI: https://doi.org/10.1515/erj-2015-0005.

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