ACTG 1P71 Lecture Notes - Cash Flow, Overdraft, Hire Purchase

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A brief description of the key features of the main sources of business finance is provided below. Venture capital is a general term to describe a range of ordinary and preference shares where the investing institution acquires a share in the business. Venture capital is intended for higher risks such as start up situations and development capital for more mature investments. Replacement capital brings in an institution in place of one of the original shareholders of a business who wishes to realise their personal equity before the other shareholders. There are over 100 different venture capital funds in the uk and some have geographical or industry preferences. There are also certain large industrial companies which have funds available to invest in growing businesses and this "corporate venturing" is an additional source of equity finance. Government, local authorities, local development agencies and the european union are the major sources of grants and soft loans.

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