Chapter Objectives
On completing this chapter, you should be able to:
• Discuss and understand the stages in the development of a business.
• Apply the principles of cash flow management and financial ratio analysis to the management of the small business.
• Consider the rapid-growth strategy for a successful business, including the demands placed on its owner, and consideration of international opportunities.
a. More About Angel Financing
We discussed debt financing earlier. Equity financing consists of angel and venture investors. VC is not yet within our reach so let’s focus on angel finance.
After family and friends, the next source of equity capital for many entrepreneurs is high-net-worth individual investors, ...
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