FINANCE OPTIONS AND CHALLENGES OF ENTREPRENEURIAL FIRMS (A CASE STUDY FASHION BOUTIQUES)
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- NGN 5000
ABSTRACT
Entrepreneurship is an increasing daily activity in the economy. It is geared towards self-employment, community input and immense contribution to the economic growth and development of a nation. Several empirical works have revealed the contributions of Entrepreneurial firms to the gross domestic product (GDP) of some developed countries such as the United States, France, Canada and Mexico. It has been argued that in Nigeria, the entrepreneurial firms contribute greatly to employment data of the nation. Thus, the entrepreneurial industry proves prospective for future entrepreneurs. This study was undertaken to examine the finance options and challenges of entrepreneurial firms. The study focused on the fashion boutique business as it attempts to x-ray the finance options open to them as well as the challenges they encounter. The study adopted the descriptive method of data analysis where research questions were raised and answered and the developed hypotheses tested. The study found out that there are several finance options open to the entrepreneurs ranging from internal sources to external sources. However, publicity has been a major challenge for entrepreneurs in the fashion business as well as the unstable choice of the customers.
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