The major advantage of borrowing money from friends or family to start a business is ________.

Question

Quizplus · Accepted Answer

Borrowing money from friends or family means that they are more likely to invest in the entrepreneur than in the business itself. They usually do not expect a high rate of return on their investment and are less likely to be demanding in terms of strict repayment schedules and interest rates. This can be a major advantage for the entrepreneur.

The Major Advantage of Borrowing Money from Friends or Family