No doubt times are tough for first-time entrepreneurs trying to raise seed capital, especially in this region with few funding bodies.
Add to that the current downturn and you are compelled to take what you can get and extract maximum mileage out of every dirham. In reality, it is difficult for a small first-time entrepreneur to go beyond the "friends and family" round of funding. True entrepreneurs maximise the tight funds with resourcefulness and innovation until they can approach banks and venture funds with a trackrecord.
Some of the biggest companies we see today started from garages and kitchen tables on shoestring budgets. They got through their initial days by using practices known as "bootstrapping".
To read the full, original article click on this link: gulfnews : Bootstrapping for entrepreneurs
