Pim Bouwman quit his lucrative job as a consultant to start a retail website that specializes in Dutch tulip bulbs. To fund his website, he borrowed money from his friends and relatives. In other words, he used which type of financing?

Question

Quizplus · Accepted Answer

Pim Bouwman borrowed money from his friends and relatives, which means he used debt financing. Venture financing refers to raising funds from venture capitalists, while equity financing involves issuing shares of ownership in the company. Liquid financing is not a recognized term in finance.

Pim Bouwman Quit His Lucrative Job as a Consultant to Start