When Sibusiso left the corporate rat race to start his own pottery business, he used some of his retirement savings to finance the business.This practice is known as:
A)self-starting.
B)cashing out.
C)bootstrapping.
D)folly.

Question

Quizplus · Accepted Answer

Bootstrapping refers to using personal funds, such as retirement savings, to finance a business venture. It is a common practice for entrepreneurs who want to start a business but do not have access to traditional financing options. Therefore, using retirement savings to finance a business is an example of bootstrapping.

When Sibusiso Left the Corporate Rat Race to Start His