SeattlePi:

Though often overlooked, there are plenty of companies like Point B that build their businesses organically through revenues and profits.

In fact, a recent report from Babson College and the London School of Business concluded that fewer than one in 10,000 companies in the United States receive their initial funding from venture capital firms. The Global Entrepreneurship Monitor report also found that entrepreneurs provide 65 percent of their startup capital, with the rest of the funding typically coming from friends, family or co-workers.

If self-funding by entrepreneurs and informal investments dried up, entrepreneurship would wither and die,” the authors wrote.

Originally posted by Dane Carlson on August 24, 2005 in Ideas.

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