Module 3 Unit 1:  Internal Sources and External Sources
Channel: Juliet Inegbedion
Date: 2018-10-01

All businesses need money. Where the money comes from is known as ‘sources of finance’. Now there are two different types of sources of finance: internal (finance from inside the business) and external (finance from outside the business). New businesses starting up need money to invest in long-term assets such as buildings and equipment. They also need cash to purchase materials, pay wages, and to pay the day-today- bills such as water and electricity