Acquiring Financial And Material Resources: Paisa Sab Kuch Hai Bhi Aur Nahi Bhi
Any entrepreneur would know that How important it is to acquire financial and material resources? Like every building or house has a foundation on which it is based, every business is also based on a similar foundation that accounts for acquiring financial and material resources.
1. As a car runs on fuel, acquiring financial and material resources is essential to run and earn profits. No business can operate without proper financial and material resources.
via marketing91
2. Financial Resources: The means through which any business acquire the funds to finance their investments, capital and current activities.
via businessblog
- A business acquires the financial resources or funds from three general sources:
- Financial Institutions (Banks, Credit Unions, Brokerage Firms)
- Capital Markets
- Owner’s Equity or Capital
via fundthrough
4. In today’s time, many new budding entrepreneurs are trying to take their startups off the ground. It becomes critical for them to be able to easily acquire funding for their startup. They might ask for funding from their friends or family, which could also act as a source of financial resources.
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5. Also known as Physical Resources, Material Resources also play a pivotal role in the smooth running of a business.
via businessmantalk
6. Material Resources can turn out to be the costliest for many entrepreneurs! These resources include a proper working space, a working telephone line, adequate information systems and effective marketing material.
via myhqdigest
7. Material Resources can vary depending on different ventures. A manufacturing enterprise will need raw materials and parts to be purchased. However, a web-based business will only need office space and equipment.
via pcmag
8. Material Resources can be consumable or fixed. Consumable goods such as paper, oil, gas, phone service are used in the processing/running of a business.
9. Some Physical Resources are Fixed. Fixed Resources last a long time, but their value depreciates over time. For example, buildings, trucks, machinery, and office equipment.
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10. Proper planning and resource management are very essential for any business to last. Thus, along with effectively and efficiently acquiring financial and material resources, their maintenance is also crucial.
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If you go to war without arms and ammunition, you are doomed to lose. Similarly, no business can survive without acquiring financial and material resources!
Blog Edited By Ritika Gupta
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