Question

1. Without SBA loans, what can the small business owner do for finances? Give examples.

2. What can the employer do during the lockdown to keep employees' attention and interest? Give examples.

3. How is the small business going to re-enter the market? Give examples.

4. What are some strategies you might suggest to stay in business? give examples

Note: all 4 questions require Example.

Thank you

Answer 1

A1.

Finance is an important aspect especially for small businesses due to their limited resources. SBA loans help small businesses in funding their businesses but there are many other options available to the owner too. Let us discuss a few of them.

Personal financing - The owner can use his personal savings or mortgage his property to secure loans from banks. While it may seem risky, but if the idea for growth has potential, it can reap rewards many times over.

Angel investors - There are many investors who are looking for the next big thing in the business world. A business idea with a great potential can easily find angel investors. These investors may invest in the business in exchange for a share in the equity.

Personal loans - Small business owners can ask family or friends for loans as well. As these parties have vested interest in the owner's success, they may help in funding the small business and help the owner in growing it.