7: Financial contingency

I will be having internal and external finance sources for my business. The internal and external source I will be having for my business is going to be:

Internal
1. Loan from family
2. Personal savings


External
1. Bank loan
2. Grants

These financial sources will help me to run my business. The government may provide me a grant in order to run my business. This may be because I’m supporting my local people by providing jobs and also an effective service. Furthermore, I will also be having an emergency plan for my business which will be selling my assets. Therefore, it’s important that I have enough and valid assets in my organisation.