• Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

Financing a new business

Extracts from this document...


When you start a business the options available to you are limited, due to the risk factor (i.e. likelihood of failure). You need to understand the following: 1. The options available 2. The main advantages and disadvantages of each option 3. Any other types of support (financial and Non financial) available 4. Use this information to choose the best option for a business. Term Definition Overdraft When you owe bank money and your balance is in minuses. ...read more.


Government/development agency grants When the government gives a student a loan which they will pay back once they have work. Redundancy payments When you become redundant and the company you worked for gives you a couple weeks of pay after making you redundant. Savings When you have set aside some money for when you need it. Main advantages and disadvantages Term advantages disadvantages Overdraft When you need extra money you can borrow without having to pay interest. ...read more.


Loans from friends and family Easy to get money and no interest needs to be paid. They could suddenly demand their money, borrowing from a bank means this will not happen. Government/development agency grants Easy way to get money if needed when studying. Must be paid back when starting a job which means it will be harder for you to get a place to live. Redundancy payments Paid for work you won't do. You have no job. Personal Savings Can be used in emergencies Requires money to be put aside in the first place. ?? ?? ?? ?? Financing a new business - the options ...read more.

The above preview is unformatted text

This student written piece of work is one of many that can be found in our GCSE Accounting & Finance section.

Found what you're looking for?

  • Start learning 29% faster today
  • 150,000+ documents available
  • Just £6.99 a month

Not the one? Search for your essay title...
  • Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

See related essaysSee related essays

Related GCSE Accounting & Finance essays

  1. Work placement at Family Mosaic.

    Lambeth council's website also have a webpage that inform customers with different types of forms. For example; form categories on complaints and freedom of information, council tax, education, children and school, environment, parking and streets care, housing and housing benefit, noise and pollution and miscellaneous forms.

  2. Exploring business purposes

    The similarities are that: They both have to break even. They both have aims and goals they want to achieve. Also, they both want to keep there costs low. Objectives for BMW: * Increase sales * Increase number of costumers * Reduce costs Objectives for ST.Bartholomew: * Keep costs low * Meet customers targets (e.g.

  1. Complete Report on Askari Commercial Bank

    ORGANIZATIONAL STRUCTURE Askari Commercial Bank LTD Bahawalpur branch is successfully meeting all its objective software programs that are installed for each department that has increased their efficiency and they can take any information which is no time from any of their branches/clients are getting quick response due to their efficient network and staff members.

  2. With reference to the local area would the opening of a new business represent ...

    An ideal investment opportunity. Main Shop: 16'11" x 10'8" (5.16m x 3.25m). The main shop is being used as hair stylist, UPVC window and door to the front, radiator. Doorway leading to Rear Office: 10'10" x 7'6" (3.3m x 2.29m).

  1. Identifying and describing the main financial service needs for a student starting at university

    On opening the account up to �50 worth of vouchers are given for use in Water stone's/HMV. Lloyds has a Classic Account and Classic Plus but they are not specifically designed for students. They offer and interest on a credit balance of 0.10%.

  2. The different types of borrowing.

    When you choose a card you should look at the APR (Annual Percentage Rate, or rate of interest charged); the initial rate if there is one (many providers offer very low or no initial rates for a period); and the balance transfer rate (as above)

  1. Management Accounting Report.

    The only reason that might make this product successful is that there are a number of public houses in England that might be interested to buy the product to make sure that they charge for beers and lagers as much as they are worth.

  2. Planning the finance for my new business.

    and community cash awards can give your business a grant of up to �5,000 and also provide support to help plan the business/project, research the budget, set goals and learn about the local community. To be eligible you must be aged 16-25 and not in education, training or work (or working less than 16 hours a week).

  • Over 160,000 pieces
    of student written work
  • Annotated by
    experienced teachers
  • Ideas and feedback to
    improve your own work