Suzanna Elmassah*
It is impossible to overstate the significance of money in business. With very few exceptions, having money on hand is essential for starting a business. Once the company starts to make money, some of that money can be put back into the company to draw in additional clients and increase earnings. Business funds are not lost on initiatives with a low rate of return thanks to careful planning and financial management. Early on in the planning and fundraising phases of business growth, entrepreneurs could find themselves in a catch-22 situation. They need to persuade potential investors that their business plan is viable and will make enough money to pay them back. According to MarketResearch.com, this persuasion typically calls for statistics regarding the possible consumer base and competition. Even just doing the study costs money. Without an assurance that the results will be positive, business owners may decide to conduct market research using their own money or borrow money from friends and family.
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