Need for Business Finance
What are the reasons why businesses need finance at different stages of their operations?
Businesses need finance at different stages to start operations, acquire assets, cover operating expenses, fund growth, manage working capital, handle emergencies, and invest in research and development.
How does finance contribute to business growth and expansion?
Finance contributes to business growth and expansion by providing the necessary funds to invest in new projects, acquire assets, develop new products or services, expand into new markets, increase production capacity, hire additional staff, finance research and development, support marketing and sales activities, and respond to competitive opportunities. It facilitates business development and helps capitalize on growth prospects.