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Start-up step by step
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Financing simply means raising the necessary funds for you to start-up your own business.
Financing requirement
You determine your financing requirement by summing up the total capital needed for the start-up. From this amount you must deduct the money you will be able to contribute personally. The remaining capital requirement you will have to finance in another way.
In Denmark there are several sources of finance ranging from the intimate such as your private savings, friends and family to external ones such as banks and investors.
Common sources of finance include:
Savings
The vast majority of entrepreneurs only have small savings intended for business start-up. The start-up phase will be facilitated, however, if you contribute personally to the financing. The more self-financing the less people you have to ask for support. If you do not have money in the bank, maybe you have unmortgaged property value, shares, or a car.
Friends and family
Danes do not traditionally borrow money from friends and family as they do not wish to mix up money and friendship/family. However, it might be a good idea to get friends and family financially involved in your business as this will motivate them to help you find customers. A 5-10,000 Dkr. investment in your business will not get any of your friends thrown out of their homes, should you not meet your goals.
Banks and savings banks
Most entrepreneurs finance business start-up through bank loans. What does banks require to lend you money?
The best tool for obtaining the necessary financing for establishing a business from a banker is a detailed business plan.
Investors
Finding private investors willing to invest time and money in your business is another option.
If you have so much confidence in your concept that you believe it constitutes an attractive investment object you should definitely try to approach potential investors.
In order to make your business concept attractive to an investor you must be able to offer a unique business concept and provide information material on your project. In other words, you have got to create an attractive and interesting basis for business activities in order for your potential investors to eventually make a profit from your concept.
Financing of investments
If you have large singly investments such as acquisitioning of buildings, vehicles, or costly machinery, such investments often require a specific investment programme as such investments must be financed on special terms. Consult your accountant or another adviser on this.
Thomsen
- Læs mere om investorer
- Læs mere om bank og sparekasse
- Læs mere om budgettering
- Lav en forretningsplan
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