Commercial Banks and the Entrepreneur

Which banking service allows a business to spend slightly more money than it currently has in its account for a short period, often used to cover unexpected costs?

• Loan

• Savings Account

• Investment Advice

• Overdraft

The primary purpose of a commercial bank offering a "Loan" to an entrepreneur is to help the business owner:

• Manage their daily bills using an app.

• Buy expensive items needed to start or grow the business, such as equipment stock.

• Keep profits safe and secure over the long term.

• Decide where to put extra money to earn higher returns.

Which banking service is defined as managing the bank account, paying bills, and checking balances using a computer or phone, anytime and anywhere?

• Deposit Account

• Investment Advice

• Loan

• Online Banking

Jody runs a successful dog grooming salon and now wants to expand by selling pet toys and snacks. She has enough customers but needs money immediately to buy the new stock. Which banking service is the BEST initial choice for her immediate need to purchase new stock?

• Online Banking

• Savings Account

• Loan

• Investment Advice

Malik runs a busy donut van and sells out every morning. He wants to safely put aside the profit he earns each day so that he can eventually afford to open a permanent café. Which banking service would most effectively help Malik achieve this long-term goal of saving money securely?

• Savings and Deposit Accounts

• Overdraft

• Loan

• Online Banking

Andre runs an online clothing store and is always busy making deliveries and designing new hoodies. He needs a way to quickly check his balance, pay suppliers, and send refunds to customers without having to visit the bank in person. What is the main reason why Online Banking makes Andre's life easier?

• It acts as an immediate source of new capital (money).

• It helps him decide where to invest his profit wisely.

• It allows him to manage his accounts, pay bills and handle money quickly, efficiently, anytime, any place.

• It guarantees that his business will earn a profit every month.

Emma has made a good profit from her handmade candle shop this year and wants to invest a portion of it into another small business or the stock market to earn more money over time. Which specialised banking support should Emma seek to make this plan happen?

• Overdraft

• Investment Advice

• Loans

• Deposit Account