Final answer:
True. Personal savings play a crucial role in providing initial funds for businesses to carry out capital projects.
Step-by-step explanation:
True. Without personal saving, businesses could not carry out capital projects.
Personal savings can play a crucial role in providing the initial funds needed to start a business or carry out capital projects. Many small businesses rely on the business owner's personal savings to cover the startup costs or to invest in expansion and improvement projects.
For example, a business owner might use their own bank account or borrow money, perhaps using their home as collateral, to cover the costs of starting a restaurant or a gas station. Alternatively, they could seek funding from angel investors or venture capital firms who are willing to invest their own money into small new companies at an early stage.