Select the correct text in the passage.
Which part or phrase in the passage hints that "knowledge is a factor that affects Michael's career as an entrepreneur?
Michael wants to start a small hardware business. However, he has been facing many problems. He has not been able to raise enough funds to
provide the start-up capital for his business. He also doesn't know the existing state laws and regulations related to his business. Although he
had some funds of his own, he missed the opportunity to purchase a plot that was at a suitable location for this type of business. He has not
been able to convince his ex-colleagues to invest in his business either.
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