Funding for entrepreneurs can only come from institutional sources like banks and venture capital firms.Group of answer choicesTrueFalse

The statement is False. While institutional sources like banks and venture capital firms are indeed significant sources of funding for entrepreneurs, they are not the only sources available. Entrepreneurs can also obtain funding through various other means, including:

1. Personal Savings: Many entrepreneurs use their own savings to start and grow their businesses.
2. Friends and Family: Borrowing or raising funds from personal networks is a common practice among new entrepreneurs.
3. Crowdfunding: Platforms like Kickstarter or Indiegogo allow individuals to raise small amounts of money from a large number of people.
4. Angel Investors: These are individuals who provide capital for startups, usually in exchange for convertible debt or ownership equity.
5. Government Grants and Loans: Various government programs exist to support small businesses and startups.
6. Incubators and Accelerators: These programs sometimes provide funding, mentorship, and resources to startups.

Therefore, funding for entrepreneurs can come from multiple sources beyond just banks and venture capital firms.