What does the term "bootstrapping" mean in the context

of entrepreneurship?

A Using personal savings or revenue to fund a business Correct Answer Incorrect Answer

B Seeking venture capital funding Correct Answer Incorrect Answer

C Implementing aggressive marketing strategies Correct Answer Incorrect Answer

D Collaborating with other startups Correct Answer Incorrect Answer

Solution

Bootstrapping refers to the practice of starting and growing a business with little or no external capital. Entrepreneurs relying on bootstrapping often use personal savings, revenue generated by the business, or loans from friends and family to fund their ventures, thus maintaining control and ownership.

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CMAT

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