In this lesson I cover:
The need for business finance:
- The main reasons why businesses need finance, e.g. start-up capital, capital for expansion and additional working capital
- Understand the difference between short-term and long-term finance needs
The main sources of finance: - Internal sources and external sources with examples
- Short-term and long-term sources with examples, e.g. overdraft for short-term finance and debt or equity for long-term finance
- Importance of alternative sources of capital, e.g. micro-finance, crowd-funding
- The main factors considered in making the financial choice, e.g. size and legal form of business, amount required, length of time, existing loans
there is also an activity for students to get involved and remember.
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