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Who can help you with financing a company in Poland? We will not waste time on dispelling the myth that it is impossible to start a business when you have no money. Suppose you have a good idea or had a working business in your home country, but due to various reasons you had to migrate to Poland. You want to open a company in Poland.
After you finish reading this article, most of the fears about lack of money will vanish from your memory. You even won’t have to go to work by yourself to settle all down. And most importantly, the nightmare about hiding money under the pillow will pass away.
Also, we won’t consider banks. You should think about banks when your business already exists. Don’t forget about government and EU’s programs that may help you to build a business. We will give you the direction, but you will learn more details on the websites of these organizations.
The program was launched in 2014 throughout Poland to support and develop new firms, as well as create workplaces for unemployed people.
So, what are the advantages? You can get a loan, the maximum amount is 92 thousand PLN (zloty – polish currency) for 84 months. The first year you can defer payment and start paying after 12 months. The site has a nice calculator where you can count everything. But, here the question arises. How much I will have to overpay?
Let’s suppose that you had taken 92 thousand PLN for 84 months and didn’t pay during the first year. After a year, you were paying every month 1277 zł (actual figure as of 08/17/2018). You have overpaid only 1636 zł. With a smaller amount, the overpayment is less. Specially, comparing with the usual loan from the bank – it is very profitable.
1) The most important condition for a foreigner – to obtain a residence card;
2) To be a graduate student (or the third point);
3) Or you are a graduate of a school or university and 4 years have been passed since you had received this title (or the fourth point);
4) To be registered as unemployed;
5) Plus, you have not opened a company in Poland before.
• First of all read the information on their site .
• Fill out the form on the program’s website.
• If your business plan/application has been approved, the financial intermediary will contact you.
• When you get the green light, you will need to find your guarantor and sign the bill. Then money will come into your bank account and you will be able to open a company and work.
We repeat once more. Carefully read all the information on the program’s website.
The most famous way to finance a company in Poland. Labor Office (Urząd pracy) gives about 21 thousand zł to registered unemployed so they could have a possibility to open their own business. You will need to show a ready business plan in order to have such kind of full financing (on 100%). It is needed for further studying from the side of Labor Office. Also, be prepared that people will come to you from Labor Office (Urząd Pracy) and check how you manage your budget. They can even ask you to show the goods that you have being using in the manufacturing process. More information you can find in the nearest Labor Office.
It is a project of the European Union. There you can find the posted proposals and plans from the EU – things in what they are willing to invest. You can use special search engine in their network to find your sphere. You may find a suitable opportunity for yourself.
For example, they will decide that there is a lack of computer science universities in Poland. And you are an experienced programmer and want to share your experience with others. You have sent them a deposit for the contest and in case if a win, you will receive funding up to 80%.
For more details you should check on their website. Here is a link on which you can find a training video. It is about how to use the service.
In this case, you can get a very large funding, which will not require a refund depending on the direction of the business.
There are many people in Poland who are willing to invest in a good enterprise. The only problem is that there are very few of these good enterprises.
Before you go to investors, you must be sure that you believe in your project. You must have a desire to implement it in future. Has a new idea come to your mind and you have written it into your business plan? We advise you to contact a person who is good at copyright issues, because you must be ready to protect your idea.
Only after it you can go and look for investors. For instance, there are a lot of events concerning business even in Facebook. Also, people are arranging different conferences, where experts and owners of businesses may meet. Also, it is worth looking for them in business incubators.
When you find an investor, you should tell him about your idea during 60 seconds. The shorter will be a presentation, the better result you will receive. If he will be interested, you will be invited for a meeting.
But, in a risky project investor may ask for 80% of your company, and that’s almost all of it.
Also, learning about the meaning of TERM SHEET will be very useful for you.
Of course, there are other programs that finance companies in Poland. That should be enough for you to act. But, don’t rely only on our article. Read the information on other sources. If you seek a solution, you will always find something. So, believe in yourself and in your project. We hope that you will open your company and soon contact us for help in finding personnel.
Good luck to you.
The author of the article: “Who can help you with financing a company in Poland?”
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