Answer the following statements true (T) or false (F)
1. Seed stage firms are usually funded by venture capital firms in order to catch the opportunity right from the very beginning.
2. Bootstrapping is mainly used to fund inventory.
3. Bootstrapping is encouraged at the early stage of a startup.
4. Less than 50% of the startups in the United States start at home.
1.False – Seed stage companies are usually funded through bootstrapping. Early stage firms have no track record and need capital to create and launch their products/services on the market; this capital usually comes from personal savings, family and friends, or such creative sources as crowdfunding.
2.False – It is the process through which entrepreneurs find creative ways to exploit opportunities to launch and get traction for their startup business while having limited resources available, thus not only limited to inventory.
3.True – Yes, it can be used as a first step to delay external funding and retain equity, minimize risk, increase efficiency within the business, or simply create a company culture where resources are maximized and waste minimized.
4.False – More than 50% of the entrepreneurial ventures in the Unites States actually start at home.
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