If you have yet to launch your first business, it could be easy to believe the many myths about starting a new company. As a result, budding entrepreneurs might be deterred from launching their first business, or might launch an enterprise only to experience a few nasty surprises along the way.
As with any business decision, you must look at the facts to make a decision that’s right for you. Here are five popular myths about starting your own business.
Myth 1: You Need Investment to Start a Business
Believe it or not, but you don’t need a considerable amount of money to start a successful company. Yet it’s a common misconception that you need to seek investment to help kickstart your new venture. However, statistics prove the opposite is true. According to Fundable, only 0.91% of startups are funded by angel investors, and only 0.05% are funded by venture capital investors.Continue reading