BUSINESS ADMINISTRATION
ENTREPRENEURIAL DEVELOPMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Strapped with maximum amount of debt to start a business
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Tying yourself to a business partner to fund a venture
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Self-funding a business or project
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Starting a business with very few assets
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Detailed explanation-1: -What is Bootstrapping? Bootstrapping is the process of building a business from scratch without attracting investment or with minimal external capital. It is a way to finance small businesses by purchasing and using resources at the owner’s expense, without sharing equity or borrowing huge sums of money from banks.
Detailed explanation-2: -Bootstrapping is founding and running a company using only personal finances or operating revenue. This form of financing allows the entrepreneur to maintain more control, but it also can increase financial strain.
Detailed explanation-3: -Bootstrapping is the practice of self-financing a business. Using only existing resources (translation: no venture capital or major loans), bootstrapped companies build their businesses from scratch.
Detailed explanation-4: -Bootstrapping is a term used in business to refer to the process of using only existing resources, such as personal savings, personal computing equipment, and garage space, to start and grow a company.
Detailed explanation-5: -Bootstrapping refers to the process of starting a company with only personal savings, including borrowed or invested funds from family or friends, as well as income from initial sales. Self-funded businesses do not rely on traditional financing methods, such as the support of investors, crowdfunding or bank loans.