The following technique involves the use of creativity and ingenuity to figure out how to get a business up and running without the need for external funding. Group of answer choices reaching scrounging networking bootstrapping

The following technique involves the use of creativity and ingenuity to figure out how to get a business up and running without the need for external funding.

Group of answer choices

reaching

scrounging

networking

bootstrapping

Answer

• bootstrapping

Explanation:

When starting a business, most entrepreneurs apply for financial support from sponsors, or credit companies. However, some other investors lack any external funding and instead start off by using their own savings, investments, and earnings to finance the business. This process of starting a business without any external funding is called bootstrapping.