Entrepreneurship (AS)·Financing · NSSCAS 2.3b
Financial credibility — the credit bureau & credit history
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Why does a bank say yes to one entrepreneur and no to another with exactly the same idea? The answer is financial credibility. In this lesson Miss Maria unpacks what credibility really means, defines a credit bureau, works through its functions one by one, and shows how a bad credit history follows an entrepreneur into every future venture.
What you'll learn in this lesson
By the end you should be able to (NSSCAS Entrepreneurship (AS) 2.3b):
- understand the financial credibility of an enterprise
- define credit bureau
- explain the functions of a credit bureau (e.g. Information Trust Company)
- explain the influence of a bad credit history on future ventures where the entrepreneur will be involved
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Miss Maria and Mike talk through the whole topic — with the figure and working drawn live.