5 Steps to Finance Your Business

You have been able to ensure that your business idea meets a real need, which leads you to believe that your project is quite viable. However, you must make the necessary arrangements to ensure the financing of your project, so that it can be realized!

1st step

The first step is to inventory your needs by taking into account all the expenses you will have to make to make the necessary investments and to meet the daily needs of your business. Then you have to figure out what sums you can invest to build up your business.

2nd stage

Afterwards, you have to establish a business plan and present it to an accountant.

It will be able to issue an opinion on the chances of prosperity of your company, which will be essential in the eyes of the bankers, the investors and the suppliers. Think about the grants and subsidies that may be given to you.

3rd step

Once the business plan is ready, you have to meet investors to find out how much they are willing to invest in your company's capital. The capital collected in this way must represent at least half of your permanent capital. These must be at least equal to the total of your fixed assets and the working capital that is necessary for you so that your cash requirements can be easily covered by the credits granted by the banks and the suppliers.

4th step

Contacting banks is the fourth step in your search for funding. If you present them with a business plan certified by a chartered accountant, the bankers will study your project with interest. They will be able to grant you medium-term credits of less than or equal to your own funds and cash facilities equal to half or all of your monthly turnover.

5th step

Finally, you must meet your future suppliers to know the credits that they will be able to grant you.