Question

A bank would want to see on the application of a entrepreneur applying for funding all the following EXCEPT

A.
the entrepreneur has significant experience in the business.
B.
there are no family or friends involved in the business.
C.
the entrepreneur has already saved some of the required start-up funds.
D.
the entrepreneur has a solid business plan to present.

Answer 1

The correct answer is (B)

Step-by-step explanation:

Entrepreneurs are usually encouraged by the banks to apply for funding's, to encourage more people to start their own companies and businesses. Before giving funds, banks analyse a few things such as business plans, experience etc. The only thing banks do not want to see is ' No involvement of family and friends'.Banks believe that there is less risk involved when a family is involved in a business because the entrepreneur will work more hard to stick and will make sure the company survives and grow.