Family-Owned Business Challenges

Family-Owned Business Challenges Student’s Name Professor’s Name Institutional Affiliations Course Name and Number Due Date Family-Owned Business Challenges What are your recommendations to entrepreneurs for raising capital to start a family-owned business? Entrepreneurs raising capital for their family-owned businesses rely on specific sources to achieve their goals. For instance, they self-fund in the first days until their business gains momentum before seeking alternative funding options to expand the firms. Others may access bank loans, pool resources from family members, or take unsecured loans from families. Irrespective of the approaches employed, these experts should ensure that any source includes appropriate legal agreements to protect the individual and the business from unforeseeable future conflicts. The second recommendation is to diversify the financing approaches and increase the likelihood of growth. Al-Haddad et al. (2024) ag...