What you need to know when dealing with finances
Starting a company requires some capital – big or small – depending on the type of business. If you plan to live solely on your business, you will need some funds for the establishing costs and for surviving until you begin to make a profit. Many businesses fail because they underestimate how much they actually need to both start off in a good way and keep business running during the first critical phase. When it comes to financing start by asking yourself:
1. How much does your company need to make for you to cover both your private and your business’ cost?
2. Do you have your own money to fund your business?
If you are not able to set aside your own money, there are multiple ways of financing but beware that each have their pros and cons, and that the options you have depends on the type of business you want to start. We have focused on presenting the types of financing that are most common for small businesses in the Nordics.
We hope you will find the funding concept most beneficial for your company.