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Explain How a Small Business Can Use Factoring to Raise

question 46

Essay

Explain how a small business can use factoring to raise funds.What are the advantages and dangers of this type of financing?


Definitions:

Outsourced

The condition or status of having been assigned to external suppliers or third-party providers to perform tasks, handle operations, or offer services that are otherwise performed internally.

Types of Activities

Categories or classifications of actions or tasks that individuals or organizations undertake to achieve specific goals or outcomes.

Process Model

A representation, often in diagrammatic form, of the steps and decisions involved in carrying out a process or operation.

Supply Chain Relationships

The interactions and connections between various entities involved in the production and distribution process of goods and services.

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