Why is Financial Resilience Important in Entrepreneurship?
Financial resilience is vital for several reasons:
Surviving Economic Downturns: It enables businesses to survive economic downturns, market volatility, and unexpected expenses. Maintaining Operations: Ensures that the business can maintain operations and continue to serve customers even during financial hardships. Attracting Investors: A financially resilient business is more attractive to investors and lenders, as it demonstrates stability and the ability to manage financial risks effectively. Seizing Opportunities: It allows entrepreneurs to seize new opportunities for growth and expansion, even in challenging economic times.