1. Financial education is an important component of our students' educations. For many young people, college is their first money management experience. Explain to new entrepreneurship students the purpose of financial management for an entrepreneurial venture. (4 marks)

2. Entrepreneurship, if well managed, can create more jobs on the continent and increase the middle class which is essential in sustaining economic growth. Outline the three (3) types of entrepreneurships. (6 marks)

3. Entrepreneurship is being able to create and run a business. In entrepreneurship, idea generation is one of the main factors that lead to its success. Identify two (2) methods and sources of idea generation for an entrepreneur. (6 marks)

4. A family business is a commercial venture in which family members are involved. There are many successful businesses that are family owned in Botswana, like the Phakalane Golf Estate owned by the Magang’s. In your own words what are the challenges of family business. (4 marks)

5. Compare a small business with an entrepreneurial business. (6 marks)

6. Write short notes on the following finance concepts and provide an example for each concept:(4 marks)

i. Equity

ii. Liabilities

iii. Financial Statements

iv. Expenses

Answer rating: 100% (QA)

The purpose of financial management for an entrepreneurial venture is to make sure that the venture has enough money to continue its operation and to continue to develop the venture further The ventur... View the full answer