Raising funding for a new business – where do I start?
To start a business, you need to secure adequate funding, but where do you start looking for this funding and how can you make sure you will get the support you need to start and run your business?
Book an appointment for business start-up advice. Together we will go through the process of applying for funding and make sure you have the documents you will need!
Different funding options
Before you start applying for funding for your new business, it’s important to explore the different options and their suitability for your situation. The most common sources of funding are:
- Personal investment: Using your own savings or assets to finance your business activities
- Loans: Bank loan, loan guaranteed by Finnvera
- Investors such as angel investors, venture capital firms or other players who want to invest in your business in exchange for an equity stake
- Public organisations and funding programmes that provide financial support to businesses of various types
Each financing option has its own challenges and advantages, and it is important to assess them carefully before making a decision. A business advisor will help you consider your options and make an informed decision.
Read more about business finance.
Prepare carefully before applying for funding
Once you have chosen a suitable source of funding, you should ensure that you have all the necessary information and attachments to submit a detailed application. The most important things to remember:
- A clear and comprehensive business plan that explains your business concept, the market situation, your competitors, plus marketing and financial plans.
- Financial information: Financial projections related to your business plan, such as cash flow forecast, profit and loss account, and balance sheet.
- The necessary permits, certificates, business plan appendices and other documents that may be requested by your sponsor.
Don’t hesitate to ask for help in acquiring funding. Book an appointment for start-up and business consultancy, and we will help you get your documents in order and apply for funding.
