And research demonstrates that internal finance – that is, financing from the personal resources of owners, family, friends, and business associates – can help offset a lack of access to capital and is crucial to both new and established small enterprises (Rosen, 1998; Holtz-Eakin, Joulfaian, and Rosen, 1994a,b). For some potential low-income entrepreneurs, however, none of these options is feasible.
See also Welcome address by Luigi Federico Signorini to the Bank of Italy - CEPR Conference on Labour market participation: Forces at work and policy challenge, 2018. Based on data from Istat, Italian Labour Force Survey, 2019 and 2021. 4  without pay and, often, with little social-security protection;14 they may entail human capital losses that further reduce career prospects.