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Explanation of terms with respect to sources of finance.
(i) Factoring – this is a financing option where a business sells its accounts receivables (invoices) to a third party to meet its short-term financial needs.
(ii) Business angel – these are high net-worth individuals who are willing to directly invest in new, high-growth potential private businesses. They usually highly experienced in business.
francis1897 answered the question on November 1, 2022 at 10:42