Define promoter. What are the functions of a promoter?

1.	Define promoter. What are the functions of a promoter?
Answer» Promoter is a person who conceives the idea of starting a business, examines the feasibility of idea, assemble various resources, prepare necessary documents and perform other activities needed to commence the business. Functions of a promoter 1. Identification of business opportunity; 2. Feasibility studies: the following feasibility studies may be undertaken: (a) technical feasibility (b) financial feasibility (c) economic feasibility 3. Name approval; 4. Fixing up signatories to the Memorandum of Association; 5. Appointment of professionals; 6. Preparation of necessary documents.

Answer»

Promoter is a person who conceives the idea of starting a business, examines the feasibility of idea, assemble various resources, prepare necessary documents and perform other activities needed to commence the business.

Functions of a promoter

1. Identification of business opportunity;

2. Feasibility studies: the following feasibility studies may be undertaken:

(a) technical feasibility (b) financial feasibility (c) economic feasibility

3. Name approval;

4. Fixing up signatories to the Memorandum of Association;

5. Appointment of professionals;

6. Preparation of necessary documents.

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