What Challenges Do Entrepreneurs Face in Accessing Financial Services?
Despite the various sources of financial services, entrepreneurs often face several challenges:
Creditworthiness: Many entrepreneurs, especially those just starting, may not have the credit history required to secure loans. High-Interest Rates: Some financial products come with high-interest rates, which can be burdensome for new businesses. Complex Application Processes: The paperwork and requirements for securing financial services can be overwhelming. Equity Dilution: Seeking venture capital or angel investment often means giving up a portion of ownership in the business.