Question 8
a)Define start-up capital.
b) List four sources of capital required for establishing a mobile phone repair workshop.
Candidates seem comfortable with this question as most of them attempted and scored maximum mark.
Observation
The expected answers are:
a. Start up capital is the fund/ money required to establish a new business
b Four sources of Capital
Any correct 2
- personal savings
- donation from friends, relatives and other donor agencies
- mutual funds
- government grants
- partnership
- equity offerings
- loan from banks or other financial institutions