One of the primary reasons that firms fail is inadequate financial resources. Knowing this, what steps should an entrepreneur take to obtain and maintain adequate resources? What is more important -- obtaining or maintaining financial resources? Why?
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One very important step that an entrepreneur should take to obtain and maintain adequate resources is to maintain a very high credit rating, and to establish a line of credit with a very good banking institution. This will enable an entrepreneur to obtain a business start-up loan with very reasonable payment options, and at a lower interest rate. This ...
This solution describes key aspects involved with financing entrepreneurial activities.