Personal savings

Bank loans

Crowdfunding

Government grants

No interest payments

No need for collateral

No credit checks

All of the above

High interest rates

Need for collateral

Strict credit checks

All of the above

Raising money from a large number of people, typically through online platforms

Getting a loan from a bank

Using personal savings

Selling assets

No need for collateral

No credit checks

Potential to reach a large audience

All of the above

Can be time-consuming

Can be difficult to reach a large enough audience

Can be difficult to convince people to donate

All of the above

A document that outlines the goals, strategies, and financial projections of a business

A loan application

A marketing plan

A budget

It shows lenders and investors that you have a clear understanding of your business and its potential

It helps you track your progress and make adjustments as needed

It can help you attract new customers

All of the above

Debt financing involves borrowing money that must be repaid with interest, while equity financing involves selling ownership of the business in exchange for cash

Debt financing is typically more expensive than equity financing

Equity financing gives the lender more control over the business

All of the above

Debt financing

Equity financing

Both are equally good

Neither is good

No need to repay the money

Potential for greater profits

More control over the business

All of the above

Loss of control over the business

Potential for lower profits

Need to repay the money with interest

All of the above

Create a detailed budget

Talk to other photographers

Research industry trends

All of the above

Not having a clear business plan

Asking for too much money

Not doing enough research

All of the above

Do your research

Be prepared

Be confident

All of the above