GET FINANCING

Another aspect to which this book pays special attention is to offer alternatives that the entrepreneur can make, with the consequent cost savings. For example, in the case of marketing, the services offered by companies specialized in market research are usually excessively expensive for someone who is going to create a small business. Therefore, other alternative methods are listed that, although less reliable, are easy and economical. How can they be:

Expert opinions. It is interesting to submit the business idea to the experts in the sector in which you plan to undertake. This provides very valuable data, although you must do it with caution since you run the risk of having the idea.

Direct observation. You can personally obtain basic information about the competition related to schedules, services provided, prices and personnel available, etc. Another option, also, is to monitor the behavior of buyers and distributors to know the environment of your future business.

Business Censuses These will help you detect companies with services / products similar to the one you plan to launch. Some are published by the Chambers of Commerce (www.camaras.org), business organizations, industry departments of some autonomous communities or the General Directorate of SME Policy (www.ipyme.org).

Commercial Registry A large part of the companies, those that are constituted as mercantile companies, have been obliged by law to present their annual accounts in this registry. In them you will find your balance sheet and your income statement, which can be used to analyze what are the economic figures in which a business similar to the one you intend to set up moves. You can request the annual accounts of a company through the Internet service of the Registrar’s Association (www.registradores.org).

Sector Studies You can find them already made in the Chambers of Commerce, ministries, public bodies (such as ICEX), business organizations, sector magazines, consultants, etc. You can also use official statistics and surveys published by public bodies such as the National Statistics Institute (www.ine.es) or the Center for Sociological Research (www.cis.es).

Pseudo Purchase It consists of acquiring an item or service similar to the one you plan to launch. It is useful for obtaining information on sales attitudes: the arguments used, promotions, payment methods, etc.

An always complicated issue, but one that has been even more so for a few years, and for which possible alternatives are also offered. Thus, the characteristics of the usual formulas available to financial institutions (loan, credit policy, commercial discount, microcredits, factoring …), renting and leasing, of the guarantees of Reciprocal Guarantee Societies, aid are described. and grants, venture capital, business angel … Even, what you have to keep in mind if the family lends you money.

As recommended in the book “scrutinize all the possibilities of obtaining financing and go first to those that you think you may have more possibilities. But keep a plan B in your sleeve, with other entities and types of financing, in case they fail. Try with other entrepreneurs and entrepreneurs how is the situation, which entities are giving more facilities or for what types of financial products are putting more obstacles. Go to business associations, chambers of commerce, public bodies and any other institution, since they may have signed agreements with financial entities or programs that facilitate access to financing for the creation of companies. ” In this, as in many other aspects, you have to be stubborn.

Finally, the legal procedures to be carried out to start the activity are also described. Some decisions that should also be considered because “whoever delays a permit or a license can assume that the business, despite being ready to operate, has to wait to start the activity. Enrolling in a tax regime that is not the most appropriate will involve the payment of an extra cost to the employer. And so it can happen with many legal and fiscal obligations. ”

And one of the points that is most emphasized is the type of legal form under which the activity will be carried out. “Many people decide to work as freelancers because it seems a complication to create a society. However, it is always advisable to analyze the benefits that acting as a limited company may have: greater accessibility to aid and subsidies, better image for suppliers and customers, more possibilities for tax relief, limitation of liability are, among others, issues that should be weighed. ”

Complete this book, as already mentioned, other aspects inherent in the process of developing a business such as psychic resistance, coping with stress, obtaining family support, etc., since undertaking is also a social activity in which involves people, emotions, relationships, interests, … ” And you have to be prepared for this too.

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