Bootstrapping is a method used in statistics to estimate the distribution of a sample statistic by resampling with replacement from the original data. This technique allows researchers to create multiple simulated samples, which helps in assessing the variability and confidence intervals of the statistic without relying on traditional assumptions about the data's distribution. In the context of entrepreneurship, bootstrapping refers to starting and growing a business using personal savings or operating revenue, rather than external funding. This approach encourages resourcefulness and careful financial management, allowing entrepreneurs to maintain control over their business while minimizing debt and outside influence.