INTRODUCTION TO ENTREPRENEURSHIP
TYPES OF ENTREPRENEURSHIP
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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You must secure a loan to start a business
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True
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False
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Either A or B
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None of the above
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Explanation:
Detailed explanation-1: -In conclusion, it is not wrong to start a business by borrowing or making a loan, but you need to think about the risks you will face, as the risk of business failure in its initial phase is quite high.
Detailed explanation-2: -In a secured loan, the borrower is required to pledge an asset to ensure the repayment of the loan.
Detailed explanation-3: -An Unsecured Business Loan is money you borrow from a lender for business purposes. The lender does not require you to pledge security, and you can repay the loan through Equated Monthly Instalments (EMIs).
There is 1 question to complete.