Entrepreneurial finance course has been a fascinating experience and an opportunity for improving my skills and knowledge on financial management. Notably, the course’s major aim is to facilitate learners’ understanding of the value and resource allocation in businesses. I have been able to approximate the required amount to raise to start and run a business. Besides, I have had the opportunity to get accessed to the right sources of funding with reasonable interest rates and favorable terms. Ideally, most concepts within the Entrepreneurial Finance course were significant for individuals’ and organisational development. Some of the outstanding concepts included principles of financial forecasting, capital ventures, crowdfunding and credit union, repayment terms and financing needs. A scrutiny to all these topics reveals that they are crucial in determining the choices of financing a venture. On a broader note, the concepts like crowdfunding are of importance but cannot entirely rely. I can also be able to obtain loans at very smaller rates and therefore be able to expand my business through studying in credit unions.
Ideally, gaining the skills and knowledge on repayment terms has done well in influencing my choice of funding a venture. Under repayment terms, it is important to know how long the financing arrangement is structured to last (Leach & Melicher, 2014). This assist in making the comparison when it comes to the interest accumulation. In financial requirements, it is important to consider the personal requirements each lender and investor places on applicants. This is helpful in determining the best finance avenue to choose.
Finally, other concepts of financial forecasting especially when it comes to budgeting were of great significant. One being the forecaster enables him or her to demonstrate credibility, which is aimed at ensuring accuracy and checking on forces acting on the revenues and expenditure. I have realised that it is impossible to accomplish one’s long-term objectives without effectively managing their finances. Inadequate financial management may lead to the liquidity shortages in businesses and organisations.
References.
Leach, J. C., & Melicher, R. W. (2014). Entrepreneurial finance. Australia : South-Western
