Description

Total Weightage: 10 Marks

Finance

MEANING OF FINANCE: ‘Finance’ refers to funds or monetary resources needed by individuals, business houses and the government.

• It is one of the most important prerequisites to start an enterprise.

Need of finance (Encourage BAKED Market investigation)

Right from the very beginning i.e., conceiving an idea: finance required to:

1. Encourage management to make progress and create value.
2. Be enough to meet unexpected/unplanned business expenses.
3. Acquire fixed assets.
4. Keep men and machines at work.
5. Expand, diversify, improve, and grow.
6. Develop product.
7. Make market investigations.

• Conclusion: Finance is the elixir that assists in the formation of new businesses, and allows businesses to take advantage of opportunities to grow and expand.

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