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Resource Mobilization — Entrepreneurship STD 11 Commerce — Question

CBSE BoardEnglish MediumSTD 11 CommerceEntrepreneurshipResource Mobilization3 Marks
Question
Suruchi is planning to establish a small scale export factory. To ensure that she is neither short of nor in excess of capital, guide her how to go about for financial resources.
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Answer

Suruchi should prepare a financial plan for her small scale export factory.
To ensure that she is neither short of or in excess of capital, a financial plan will help her in the following ways:
  1. To assess the different types of financial requirements, viz. long, medium and short-term.
  2. To procure the funds from the suitable sources, keeping in view, the principles of economy, convenience, financial commitments, ownership, etc.
  3. To allocate the funds to various departments to achieve pre-determined objectives.
  4. To establish effective control on financial matters.
  5. To provide optimum amount of working capital requirement of the enterprise.
  6. To build up reserves for future contingencies.

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