Question: QUESTION THREE [ 1 5 marks ] Assume you have been approached by Pule, an aspiring entrepreneur in your home village to assisthim to compile

QUESTION THREE [15 marks]Assume you have been approached by Pule, an aspiring entrepreneur in your home village to assisthim to compile a business plan. Pule is interested in starting a small micro lending business.Microlending is the method of issuing small loans called microloans to small business owners.One of the requirements in the business plan template form is to identify the business risk.Required:a. Identify three (3) potential business risks Pule may face for his proposed business ideaof micro lending and suggest how to mitigate each risk. (12 marks)b. Kitso does not understand the difference between a business plan and a business model,explain to him the differences in terms of its features such as the purpose which theyare used for, components of the plan or model etc. (3 mark)

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