The Role of Business Finance in Sustainable Development: Insights from Spinning Mills
Md Rafiqul Alam 1, Redoyan Chowdhury 2, Sharif Ahmed Sazzad 3, Tufael 3
Applied Agriculture Sciences 1(1) 1-9 https://doi.org/10.25163/agriculture.119581
Submitted: 30 December 2022 Revised: 05 February 2023 Published: 12 February 2023
Abstract
Corporate finance and agricultural economics are critical to spinning mills for sustainable development and financial sustainability. This study aims to investigate the crucial role that corporate finance plays in fostering sustainable growth in the context of spinning mills. Spinning mill profitability is influenced by the cost, availability, and sustainability of agricultural goods such as cotton, wool, and synthetic fibers. The study comes to the conclusion that although the textile industry and spinning mills in particular is vital to the expansion of the global economy, there are often significant social and environmental consequences associated with its operations. Spinning mill financial performance is influenced by the agriculture economics that drive the raw material market dynamics. Effective corporate finance strategies consider these elements in order to avoid risks and maximize opportunities for sustainable development. Business financing initiatives aimed at promoting sustainable development ought to consider social concerns such as community involvement, worker rights, and rural development. Using a comprehensive approach, the proposed study would look into the connection between agricultural finance and sustainable growth in spinning mills. Furthermore, the study sheds new insight on how a thorough understanding of agricultural economics may help spinning mills assess the social impact of their operations and allocate resources more wisely.
Keywords: Agribusiness; Sustainable development; Financial strategies; Economic viability; Spinning mills.
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