Step 4 of 5

Do you need financing?

Your liquidity budget tells you how much money you need. How? Take a look at your final balance: is it negative? Financing may help to make up the difference and make your new business model a viable one. Do research to find out where to apply for financing, and which type of financing to apply for. Include the results of your research in your financial budget.

Find the right financing

You know how much financing you need. Now it is important to find the financing that best suits your business. You always have the option of using regular financiers. Or you can opt for non-bank financing. Think crowdfunding, a credit union, microcredit or a business angel. The higher the viability of your business, the more likely you will be able to find a funder willing to invest.

Video: Financing your business

State-guaranteed financing

The government has schemes for financing with a state guarantee, such as the SME-credit scheme BMKB. The government guarantees the financier. This reduces the risk for the financier so that it is easier to obtain financing. For investments in measures to increase sustainability, there is the BMKB Green scheme. This has a higher guarantee provision and a longer term than the normal BMKB scheme. You cannot apply for the BMKB schemes yourself. Your financier does this. For the BMKB Green scheme, this can be done until 1 July 2023.

Other financing options

As an entrepreneur you can apply to the municipality where you live for income support or a loan via the Decree on assistance for self-employed professionals (Bbz). If you have been running a business for a maximum of 18 months, you can get credit up to more than €45,670. If you are in business for longer, that maximum amount is around €248,064.

KVK Advice Team

Do you have questions about a new business model or the Business model canvas? Call the KVK Advice Team 0800 21 17.