Are you looking for EU funds to start your business? If so, read the article below. When, based on it, you decide that EU funds for starting a business is a good solution for you, get in touch with us for help in drawing up an application. At the same time, remember that European funds are not the only support available when you plan to start your own business. In this article I will also point you to other options for supporting your own business.
The process of getting a grant to start your own business starts with finding a grant. In other words, it's about finding a program that fits your business. Your business must meet the criteria indicated in the regulations. EU projects are diverse and it is impossible to identify a one-size-fits-all set of criteria.
How do you find the right program? You can do it yourself by searching the Internet and calling various institutions. Perhaps they will direct you at the municipality office or the PARP or European Funds hotline. Also check local action groups. There may be technology parks in your area.
You can also entrust this task to specialists. Personally, I recommend signing up for our guide on the website: DostepneDotacje.pl - then you will not miss the calls that are starting.
The next step, after finding a grant, is to fill out an application. You may find that you need to draw up a detailed business plan. If this is the case - we will be happy to help. Some EU programs require detailed knowledge of finance and business to apply for funds. Again, it all depends on the program. Read the criteria in the regulations.
When you fill out the application properly, your chances of getting an EU grant are pretty good. If you get enough points, you will get the funds. Then you need to conclude a grant agreement and implement the project in accordance with the assumptions written in the application (settlement of the application, settlement of the project). This is important because most often you need to account for the funds received. Show what they were spent on, etc.
Funds from the European Union for starting a business is just one option. It is worth knowing other solutions as well.
For businesses located in the countryside, you may want to check out the Agency for the Restructuring and Modernization of Agriculture. Earlier I also mentioned the Local Action Group. Besides, you can apply for support from the labor office. Businesses are also supported by venture funds (VC funds, seed capital funds). They are constantly looking for new companies and ideas to invest in. See what business incubators and gas pedals offer. There are also preferential loans available on the market, where the interest rate on a loan is more favorable than in a regular bank.
Are these all the possibilities already? Absolutely not. You can find a full summary of opportunities, for example, in our monthly newsletter. It is worth knowing that the possibility of financing business development is not limited to EU funds.
When you open your own business in certain industries, you have a better chance of receiving grants.
These include, for example, ecology, innovation (research and development), automation of production in industry, high-tech activities.
On the other hand, if your business is located in eastern Poland, you can count on a higher percentage subsidy than entrepreneurs in the rest of Poland.
Does this mean that only companies from the aforementioned industries or provinces can count on non-refundable funding? Absolutely not. In fact, their chances are greater or they can apply for funds on a preferential basis, but companies from other industries or locations also have a chance for financing.
In the case of grants from the EU, it is usually necessary to draw up a business plan in addition to or as part of the application. It is then worth supporting with the skills and experience of specialists.
Elements such as financial projections (balance sheet, income statement, cash flow) or market and competitor analyses are challenging for those who have not created such content before. You can find detailed specifications in the application template or criteria in the regulations.
Another thing is that if you are planning your own business seriously, a business plan will still be useful to you. Regardless of applying for external financing. It is better to invest in such a document at the beginning to avoid unpleasant surprises and costs later.
A domestic farm bank is an institution that offers various types of support programs. These are usually preferential loans. Among those for starting a business, it is worth mentioning, for example, "Support in Starting" or "Microloan."
Interestingly, sometimes it also offers a subsidy as in the case of the "technology loan," where some installments could be forgiven.
It is worthwhile to get an idea of what the BGK or local institutions that are responsible for implementing BGK programs at the local level have to offer.
Particular attention related to receiving grants, is devoted to startups. Until now, they could benefit, among other things, from support under startup platforms. A business idea could receive up to one million zlotys of funding. Startups operating (founded) in eastern Poland in particular were promoted. The new perspective (2021-2027) will also include support programs for startups. Their exact list is not yet known. We will keep you informed about them as part of the aforementioned newsletter.
Starting your own business in Poland, most often stastically, is supported by labor offices. This is because such financing is relatively easy to obtain. There are also no major restrictions on the industry. The downside? Low value of financing. Last year it averaged about PLN 30,000. Nevertheless, it is worth considering starting a business with such support.
NOTE: We do not write applications to the employment office!
Implementation of projects that could not be implemented without external support (including the very establishment of a business).
Promotional value for the company that received funding.
Competitive advantage (additional resources for development).
Formal requirements: EU grants often come with many formal requirements, which can be difficult for some companies to meet.
Competition: EU grants are often in high demand, which means there is a lot of competition when obtaining them.
Limitations: EU grants are often time and regionally limited, which may prevent some companies from taking advantage of them. Also, the ability to freely spend the funds received is limited.
Companies established in rural areas can also count on subsidies. Most often they benefit from the support of Local Action Groups or the previously mentioned Agency for Restructuring and Modernization of Agriculture. EU subsidies can also be distributed by another entity, such as at the county or provincial level.
After reading the article, you already know the basic assistance programs. Remember that the list of potential opportunities is longer. To get started, it's best to call a specific local action group, your county labor office, or, without wasting time, sign up for our guide to get a full picture of the possibilities.
Starting your own business (establishing a company) with external support, increases your competitiveness and chances of success. Therefore, it is advisable to stay up-to-date on these topics. Opening a business can be made much easier with external support.
If you are wondering if your idea can count on funding, contact us. We'd be happy to talk about your vision and needs.
It is worthwhile to apply for start-up grants because:
In conclusion, EU grants are a valuable source of support for young companies and start-ups looking for additional funding and support in developing their business. However, it is worth remembering that applying for grants can be time-consuming and require compliance with many formal requirements.
Q: What are startup grants?
A: Startup grants are funds made available by various institutions to support emerging companies or startups. Startup grants can be used for a variety of purposes, such as funding product development, hiring employees or promoting a brand.
Q: Is it worth it to get startup grants?
A: Yes, it's worth getting startup grants because they allow you to get additional funding, which can be especially important for young companies and startups. Startup grants can also help you develop your products and services, build your brand and develop your business network.
Q: What are the advantages and disadvantages of using a startup grant?
A: Advantages of using a startup grant include obtaining additional funding, support in developing products and services, brand promotion and business networking. The disadvantages, on the other hand, may be the difficulty of obtaining a grant, the high level of competition and the need to meet many formal requirements.
Q: What are the conditions that need to be met to get a startup grant?
A: The conditions that need to be met in order to obtain a startup grant can vary depending on the granting institution. These may include requirements regarding the age of the company, the type of business, the size of the workforce, among others. It is advisable to carefully read the rules and regulations of a particular grant and meet all requirements.
