Flashcards in Unit 3.3 EFFECTIVE FINANCIAL MANAGEMENT Deck (4)
Name an internal source of finance.
Give one advantage of using retained profit as a way of financing business growth?
No interest has to be paid
No LOANS have to be applied for
NOT in DEBT
3 marks.. outline one method that a business may use to increase its profit..
Reduce the number of STAFF
which will lower its COSTS
If revenue stays the same, profit should rise
(other examples, adding value, price change, improve customer service)