Chapter Name: Identify and compare funding options and services offered by the finance industry for new ventures
Description:Introduces various financial institutions, products, and services suitable for entrepreneurs.
Purpuse:To equip learners with knowledge to make informed financial decisions.
Rational:A variety of funding sources improves access to capital and lowers risks.
Chapter Assessment
Scope of Practical Skill
Key Requirement 1: Identify and compare funding options and services offered by the finance industry for new ventures
Learners are expected to research and compare various funding options such as loans, grants, and equity financing, and assess their suitability for the new venture.
Assessment Questions
Assessment 1 : An extensive list of financial institutions offering funding for new ventures is compiled with a view to selecting the one best suited to the particular venture.
List and describe financial institutions that offer loans or funding options suitable to your new business.
Assessment 2 : The various funding packages (products) appropriate for a new venture are investigated and compared in terms of own venture needs.
Investigate available funding products (e.g., grants, loans, venture capital) and explain which best meets your business requirements.
Assessment 3 : The cost of the various funding options is compared to determine suitability for own venture's business structure.
Explain how you would compare interest rates, terms, and conditions of various funding options to make a decision.
Assessment 4 : Short-term and long-term advantages and disadvantages of the various funding options are considered and discussed in context of own business and a decision made as to the most suitable.
Learners must explore at least three funding options and discuss their short- and long-term implications in the context of their own business, ultimately deciding which is most suitable.