UACCIAP is the Union of African Chambers of Commerce, Industry, Agriculture & Professions (UACCIAP)
Finance refers to sources of money for a business. Firms need finance to:
- Start up a business, eg pay for premises, new equipment and advertising.
- Run the business, eg having enough cash to pay staff wages and suppliers on time.
- Expand the business, eg having funds to pay for a new branch in a different city or country.
New businesses find it difficult to raise finance because they usually have just a few customers and many competitors. Lenders are put off by the risk that the start-up may fail. If that happens, the owners may be unable to repay borrowed money.