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Funding a business
Why do businesses need capital?
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[QUOTE="Kingsley, post: 206068, member: 30278"] Capital as we all know is an amount set aside to create further wealth as defined by most economists, and in the business sense capital is the amount of money we use in starting a business. When we consider the factors of production we say capital is one of the major factor production amongst the others which include land, Labour and the entrepreneurial himself who combines all other factors of production to ensure that production is achieved. Land is a very essential amongst the factors of production but the reward for land is rent, as compared to capital which is profit, what will be the benefit of w orkimg so hard to run a business without earning any profit. Capital is essential because it is what ensures our effort in running the business is not put to waste. And more so capital is seen as the driving force, it is what activates all other factors of production, because without it we can not start anything. Capital can be liken to a key which we use in igniting the engine of a vehicle or the key we use in accessing a door way, without capital a business will never be able to start off. [/QUOTE]
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Why do businesses need capital?
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