need for finance Flashcards
1
Q
loans
A
the total sum is replayed to the lender, an amount of money is borrowed. help with budgeting but interest may be high
2
Q
friends and family
A
they might be willing to gift or loan through an agreement. is cheap and encourages interest, puts a strain
3
Q
own savings
A
money invested by the owner, no interest or time limits. anything earnt will be a loss, limited.
4
Q
crowd funding
A
obtaining small amounts from a crowd, large access to raise awareness, costs money and can be copied
5
Q
business grants
A
gift or contributions from the govt. cost effective way of obtaining money, challenging and time consuming. not guaranteed.
6
Q
business angels
A
specialist lender who invests. provide expertise and contacts. only will invest on a good business, seek a percentage.
