Small business is the backbone of the US economy, generating nearly 62 million jobs for Americans and over $14 trillion in revenue. It is also one of the most difficult things to do successfully. Whether you’re opening a local ice cream shop or looking to launch the next Microsoft, you’ll need a plan, one that involves financing.
How do entrepreneurs acquire the funds to start a venture? This is the “startup stage” — when entrepreneurs are raising capital to launch their business and reinvesting their profits into the business to fuel growth. According to the US Chamber of Commerce, 69% of small businesses rely on their personal savings to fund their business.
In a groundbreaking four-episode series, Yahoo Finance explores the world of entrepreneurship by delving into the different stages of building a business through inspiring stories from those who have navigated this journey. The second episode features Ras Plant Based, a vegan Ethiopian restaurant founded by a culinary duo who got creative with funding and quickly created a profitable restaurant. If you missed the first episode of FEARLESS, about the “concept stage” — the first step in starting a new business — you can watch it here.
#youtube #smallbusiness #entrepreneur
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