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Respond to the following discussion prompt:

Discuss the pros and cons of:
1) Finding outside financing for your business
2) Saving your own money to self-finance your business

Then, make a personal selection as to which option you would choose for your business, and justify why you made that choice.



Answer :

GinnyAnswer

Final answer:

Discussing the pros and cons of finding outside financing vs. self-financing for a business and making a personal choice with justification.


Explanation:

Finding outside financing: Pros include access to larger amounts of capital, spreading risk, and potential expertise from investors. Cons involve interest payments, loss of control, and potential conflicts with investors.

Saving own money to self-finance: Pros include maintaining full control, avoiding interest payments, and demonstrating commitment to potential investors. Cons consist of slower growth, limited capital availability, and personal financial risk.

Personal choice: I would choose self-financing to maintain control and avoid interest payments, as it shows commitment and aligns with my risk tolerance.


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