Money and entreprenuerial Essay Example | Topics and Well Written Essays - 500 words

Money and entreprenuerial - Essay Example It is a false belief that money is the most important resource needed to start a business. . â€Å"Many people get the business start up money they need by mortgaging or remortgaging their homes, or selling property or possessions – even those who do succeed in getting a start up business loan. The second most popular source of business start up money. Family and friends are often willing to provide a business start up loan or sometimes even an outright gift. It’s actually easier than ever to get a business loan, as more people than ever have been successfully starting small businesses and the big banks have more interest in small businesses than they used to.† (Ward, 2009) Most of the people have a false belief that money is the preliminary requirement for starting the business. They might think that if enough money is there then setting up a business is an easy task. In fact the reality is exactly opposite to this concept. Even if without having a single dollar in hand a business can be set up. All the countries have financial institutions which are ready to lend money to any investors, if they are convinced of the abilities of the entrepreneur and his business idea. More over money can be collected from the family and the friends also. If you have a business idea and lack of money you can think about a partnership business also in which your partner will invest the required money while you can concentrate on other aspects of the business. In any case you can set up a business even if you have less money in your hand. Most of the countries especially the developed countries like America, Britain, Germany, and France etc have enough resources like machineries, materials, money etc. But they experiences severe shortage of manpower. They are utilizing the possibilities of outsourcing to reduce the expensive labor cost in their countries by utilizing the cheap labor market of the India like countries. So