Sources of Finance | Live Revision for BTEC National Business Unit 3 (2024 Exams)

Sources of finance is the topic focus for this live revision session for all BTEC National Business students taking Unit 3. We'll cover what you need to know, try some revision activities and some short-answer questions.

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TIMESTAMPS
0:00 - Introduction
1:15 - Overview of unit 3 specification requirements for sources of finance
2:35 - Examples of past exam questions on sources of finance
3:45 - Identifying internal and external sources of finance
6:00 - Multiple choice questions on specific sources of finance
8:45 - Interest costs associated with different sources
10:00 - Turning amounts owed into cash
12:15 - Financing increases in raw materials
14:45 - Choosing appropriate sources of finance for business situations
23:15 - Summary

KEY POINTS FROM THIS LIVESTREAM

* There are 16 main sources of finance listed in the BTEC specification that learners need to understand
* Sources can be internal (generated within the business) or external (from outside the business)
* Different sources have different advantages, disadvantages and costs e.g. some require interest payments
* Common Unit 3 exam questions involve choosing appropriate sources of finance for given business situations and comparing options
* Key finance sources covered include loans, crowdfunding, mortgages, trade credit, debt factoring, invoice discounting, leasing, grants and owner's capital
* Activities help explain when different sources are suitable and test learners' knowledge

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