What you’ll learn2 learning objectivesChoose one objective for a focused lesson, or study the complete topic.5.1.1Need for finance• The need for business finance- reasons why businesses need finance to start up, to grow and to survive- the distinction between short and long term need for finance- the difference between cash and profits- business failure as a consequence of lack of finance: bankruptcy, liquidation and administrationSyllabus objective5.1.2Working capital• Working capital- the meaning and importance of working capital- managing trade receivables and trade payables- the distinction between capital expenditure and revenue expenditureSyllabus objective