How one duo got creative to raise funds for their restaurant
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Small business is the backbone of the US economy, generating nearly 62 million jobs for Americans and over $14 trillion in revenue.
It is also one of the most difficult things to do successfully. Whether you’re opening a local ice cream shop or looking to launch the next Microsoft (MSFT), you’ll need a plan, one that involves financing.
But how do entrepreneurs acquire the funds to start a venture? This is the “startup stage” – when entrepreneurs are raising capital to launch their business and reinvesting their profits into the business to fuel growth. According to the US Chamber of Commerce, 69% of small businesses rely on their personal savings to fund their business.
In a groundbreaking 4-episode series, Yahoo Finance explores the world of entrepreneurship by delving into a specific stage of each small business-building process through inspiring stories from those who have navigated this journey.
The second episode features Ras Plant Based, a vegan Ethiopian restaurant founded by a culinary duo who got creative with funding and quickly created a profitable restaurant.
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If you missed the first episode of FEARLESS, where Talea Beer Co dives into its “concept stage” — the first step in starting a new business — you can watch it here. Learn how to grow your small business from those who rose above failures, barriers, and setbacks to achieve robust growth and success. For more on our FEARLESS series, click here and tune in to Yahoo Finance Live on Fridays at 11 AM EST.