Asked by Mariana Castaneda on Feb 18, 2024
Verified
When someone states,"I don't have money to start a business," what fact might you tell them to consider?
A) Most businesses start without any formal investment.
B) This is a valid reason for not starting a business.
C) Formal investment will be needed to make a successful company.
D) People who have no money cannot start a business.
A) Most businesses start without any formal investment.
B) This is a valid reason for not starting a business.
C) Formal investment will be needed to make a successful company.
D) People who have no money cannot start a business.
Crowdfunding
The process of raising funding for a new venture from a large audience (the “crowd”), typically through the Internet.
- The potential for bootstrapping a business, where entrepreneurs use their own resources and creativity to get started.
- The significance of developing a solid business plan and demonstrating its potential to attract investors or secure loans.
- The importance of exploring alternative funding options for starting a business.
Verified Answer
HM
Henry Moran
Feb 18, 2024
Final Answer :
A
Explanation :
Many businesses do not require substantial start-up costs and can be started with minimal investment. There are various ways to obtain funding, including loans, grants, and investors, which are accessible to those who may not have personal savings to start a business. Therefore, not having money upfront should not necessarily be a barrier to starting a business.
Learning Objectives
- The potential for bootstrapping a business, where entrepreneurs use their own resources and creativity to get started.
- The significance of developing a solid business plan and demonstrating its potential to attract investors or secure loans.
- The importance of exploring alternative funding options for starting a business.
Related questions
Bootstrapping and Starting Slowly Enables Entrepreneurs to Avoid Any and ...
Many Entrepreneurs Who Have Failed Become More Confident,prepared,and Motivated to ...
Entrepreneurship Can Provide Us with Skills We Can Apply to ...
Most Successful Entrepreneurs Have Had a _____ to Help Them ...
In General,entrepreneurs May Raise What Amount Through the 3 Fs ...