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Financing a Business Magazine Article
Finance & Accounting
Pages 8 (2008 words)
Difficulties and Alternative Sources of Raising Finance to Small Businesses Undoubtedly, small business sectors, better known to be the Small and Medium Enterprises (SMEs), have gained immense significance as a key contributor to the overall economic growth.
Even though, in common instances, credit has been rendered to the small businesses of developing countries such as India, Brazil, China, and South African states among others, the small businesses sectors in developed nations including the US and the UK can also be noted as major constituents of economic growth (Mahembe, 2011). Source: (Mahembe, 2011) Enthusiastically, based on these statistical findings and economic affirmations, small businesses have been connoted as the “powerhouse” and even as “most powerful engines of growth and jobs” within an economy (Banks, 2012). It is certainly for this particular reason that authoritative bodies, in the global economy today, intends to render greater emphasis and strategic support to these sectors, helping them to grow, sustain and compete. However, in the realistic scenario, these ‘powerhouses’ often have to face various hazards which are mostly concerned with the availability of adequate resources required to sustain the business in the long-run. Finance is an important requirement for the formation of any business allowing it to explore and take advantages of opportunities with the purpose of expansion and support to the daily operations. Literally stating, finance is a lubricant for any business to sustain their functions successfully in highly dynamic modern business circumstances (INFLIBNET Centre, 2010). ...
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