Every company aiming for growth is going to have to think about how to finance growth. Public funding opportunities are one option worth exploring to boost growth.
We asked the CEO of our partner, Grants Funding Oy, which specialises in growth finance searches Aki from the North a few questions about public funding, how to apply for it and how to use it. Below are Akin's answers to our questions.
The financing opportunities available to companies can be roughly classified into three main categories: debt financing, equity financing and support financing.
Debt financing is mainly aimed at improving the liquidity of the company and, through equity financing, to ensure self-sufficiency and possible ability to take on debt. Support financing, in turn, manages the risk of business operations and improves profitability.
If you go a little deeper into support financing, then you can get it roughly into the following entities: domestic significant productive investments, development of the enterprise towards Growth and internationalisation as well as new recruits. If one or more of these entities are relevant to the company, it is worth exploring the financing possibilities.
In practice, there are three options for finding out about this:
There are dozens of different financing options and they change with their conditions and limits constantly as the business develops. If as an entrepreneur you feel that you want to spend your own time exploring different financing options and staying up to date, then you can of course do it yourself. However, to save time, it is also possible to take advantage of a ready-made tool that will keep you informed about which different financing opportunities are available to your company at any given time.
The financial tool, together with an application for financing with the help of a specialist, increases the likelihood of successful exploitation of potential financing options for the development of your business.
The size of the financing depends largely on the time span and the financial products to be utilized. The size of an individual development finance product ranges from €1000 to €200,000. Investment aid can again be measured in millions of euros. The sizes of loan pools vary drastically, as do the sizes of private equity investments.
Development grants can support external purchasing services, personnel costs and travel. It is critical that the measures contribute to the objectives of the project and are within the scope of the grant mandate.
Investment aid can broadly finance investments in machinery and equipment, construction-related investments and intangible investments. Finally, recruitment subsidies are mainly aimed at new people Recruitment and on the other development of the recruitment process.
If you are thinking about financing growth and want to find out the financing possibilities of your company, you can do a preliminary financial analysis on this! The bot will ask you about your company's ownership base, finances and IP situation.
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