Surname 1Funding a new business:Sources of funds, their strengths and weaknessesFirstname Last nameInstitutional AffiliationSurname 2IntroductionOne of the most challenging decisional tasks to an entrepreneur is choosing the source offund to adapt for their new businesses. There are several sources that are viable, but there areconsequences with each and every choice embraced. In the selection of a source of funding, anentrepreneur should consider doing a research on all the available sources of fund at his disposal,and make a choice of the best source(s), having all the relevant insight on the strengths andweaknesses (Peirson, Brown, Easton, & Howard, 2014). This paper looks into the sources offunding, their strengths and weaknesses, and describes the selected source for my business.Sources of funds for a businessTo begin with, there are sources of funds that lack the interest and repaymentconsequences. Bootstrapping is the source of funds that an entrepreneur takes from their savings.It is the most common type of small business funding for small businesses. Friends and familyalso assist a new beginner in starting up a business. It is common with college graduates andother people who want to embrace self employment without getting employed first. Incubatorsare the third source of credit to an entrepreneur, and they are university grants that assist studentsor grants from various membership programs where the entrepreneur is a legitimate member(Peirs ...
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