KWEKWE POLYTECHNIC

ENGINEERING DIVISION
1.0 ASSIGNMENT NUMBER:Theory 2
2.0 DUE DATE:06/07/2020 DATE SUBMITTED:06/07/2020
3.0 SURNAME:MAKANYIRE FIRST NAME:SIMBARASHE
4.0 CANDIDATE NUMBER:…………………………………COLLEGE ID:…………………………………………………………….
5.0 COURSE:NC IN REFRIGERATION AND AIR CONDITIONING
6.0 SUBJECT:ENTREPRENEUR SKILLS
7.0 CLASS:NC1 REFRIGERATION AND AIR CONDITIONING JANUARY 2020
8.0 FULL TIME/PART TIME: FULL TIME
9.0 LECTURER: MR NHAKWI
10.0 DESCRIPTION OF ASSINGMENT:DISCUSS ANY FIVE SOURCES OF FINANCE FOR AN
ENTREPRENEUR AVAILABLE IN ZIMBABWE.
11.0 SCORE SHEET

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For an entrepreneur to start up a business he or she needs finance, therefore in Zimbabwe there are
different sources of finance of which an entrepreneur can get capital to start up a business for example
hire purchase,personal savings, personal salary,bank loans and selling of personal asserts.

Entrepreneur is the originator or the initiator of an enterprise inorder to satisfy the identified need or
want profitably.

Finance this refers to management of monetary resources,especially those of a public entity or a

company

Selling personal property

An entrepreneur is flexible in selling personal property or asserts in the view of starting a business,for
example he or she can sell a car or a house in order to fund up a business of his or her passion.Thus
clearly showing that selling of personal property is potential source of capital to any entrepreneur.

Personal salary

Salary this refers to a fixed amount of money paid to a worker,usually measured on a monthly or annual
basis.
An entrepreneur can rise into a business using personal in the sense that money of capital from salary
can fuel the rise up of entrepreneurship business in the fact that, one can take money from salary and
start up a business.Thus this is another cheaper way of a source of capital to an entrepreneur.

Personal saving

Saving is the act of avoiding the wastage of resources,espescially money.

To start up a business one need capital so this makes capital a major factor one can get capital to fuel
the initiation of a business through personal savings he or she can start saving until the required amount
to initiate a business has reached.Therefore personal savings is one of the others factors which are
sources of finance to an entrepreneur.Monthly or daily earning determine the amount and time to be
taken to start up a business in Zimbabwe.

Loans is the sum of money or valuables or consideration that an individual, group or other legal entity
borrows from another individual, group or legal entity with the condition that it be returned or repaid at
a later date.

An entrepreneur can file a loan application to the bank or financial institution and get funds back to start
up a business of his or her choice,this clearly explain that an entrepreneur can rise into business through
capital from loans.Thus clearly showing that capital from bank as loans can be a source of capital that
facilitates the starting up of a business.

Bank overdraft

This is the withdrawal of more money from an account than there is credit,therefore by so doing an
entrepreneur can rise into business through a bank overdraft thus this shows that a bank overdraft is a
viable source of finance to an entrepreneur in the sense that he or she can made it and initiate a
business of choice.For example a civil can make a bank overdraft and merge a buying and selling
business thus clearly justifying how a bank overdraft help the rise of an entrepreneur.

Conclusively,from the above explanations about the sources of finance of an entrepreneur it's now clear
these sources can facilitate the initiation of business.In the sense that all of them provide money or
capital which is the falcrum or the pith of a business,because a lot of things in business need capital
particalary for Zimbabwe.