If you want to become self-employed or start a business, you usually need money first. Don't worry: there are many ways to get the funds you need. A first overview for those wanting to found a company.
It is usually a real challenge to build a livelihood. Last but not least, a solid financial plan is required for the project to have any prospect of success. But it is precisely the issue of money that worries many founders. There is a solution for almost every financing problem.
"It often makes sense to contact the relevant industry association and get information from them," says René Klein, managing director and editor-in-chief of the "Fuer-Gruender.de" portal. For example, the chambers of crafts or the chambers of industry and commerce offer seminars for those wanting to set up a business, which not least deal with financing issues.
In some cases it can also be helpful to contact a management consultancy. In addition to support with financing options and grants, there is also help with applications, says Michael Miels, Managing Director of Gördes, Rhöse
Business founders can get a subsidy from the federal state in which they start their business for the consulting fee incurred. Certain measures to start self-employment can also be financed with an AVGS voucher (activation and placement voucher) from the job center.
Basically, when it comes to financing, you are well-advised to do some research on the internet beforehand: the start-up portal of the Federal Ministry for Economic Affairs and Climate Protection (BMWK) has a number of checklists and overviews on the subject of financing and support for founders.
Websites such as Fuer-Gruender.de also offer a free subsidy check. There, over 1000 different funding programs and grants are listed, which are aimed at founders and small businesses from all sectors.
These funds are not only available for planning and founding, but later also for acquisition, investment or expansion. "In some cases, those who want to found a company don't have to pay anything back," says René Klein.
An overview of a selection of important grants, loans and financing options:
start-up grant
Those who receive unemployment benefit and want to become self-employed can apply for a start-up grant from the Federal Employment Agency. It is initially paid for six months. How high it is depends on the amount of the applicant's unemployment benefit.
In addition, there is an amount of 300 euros per month. At the end of the six months, interested parties can receive another nine months of 300 euros - provided they can prove that they are full-time self-employed.
Low-interest promotional loans
Business founders also have the opportunity to access funding from KfW nationwide. With the so-called ERP start-up loan, up to 125,000 euros can be borrowed at low interest rates. "Those wanting to found a company don't have to show their own capital; KfW also assumes 80 percent of the credit risk," says Michael Miels. Details on KfW promotional loans can be found here.
The development banks of the federal states, such as the NRW.Bank or the L-Bank in Baden-Württemberg, also offer low-interest loans for company start-ups. "For most public development loans, the applications are not made through the development bank itself, but through the respective house bank," says Klein.
EXIST start-up grant
With this scholarship, the Federal Ministry for Economic Affairs and Climate Protection (BMWK) supports students, graduates from universities and scientists in setting up a business. Prerequisite for funding: The project must be an innovative, technology-oriented or knowledge-based product that does not yet exist in this form and that has good economic prospects of success when implemented.
For a maximum of one year, those willing to start a business receive up to 3,000 euros per month to secure their livelihood plus a child allowance of 150 euros per month and child. In addition, there is a maximum of 30,000 euros for material expenses and a further 5,000 euros for coaching.
High-Tech Start-up Fund
Start-ups from the areas of digital tech, industrial tech, life sciences and chemistry have a chance of receiving funds from the High-Tech Gründerfonds (HTGF).
In addition to the BMWK and KfW Capital, the fund investors currently include 33 companies from industry and business, according to the HTGF. The HTGF invests up to three million euros in a company across all financing rounds. The financing model is individually tailored to the respective company.
INVEST - Grant for venture capital
This is a funding program that supports young and innovative companies in their search for an investor. It is based at the Federal Office of Economics and Export Control.
In addition, the program is aimed at investors who should be encouraged to acquire shares in these young and innovative companies. Investors are reimbursed 20 percent of the amount they have invested by the BMWK. Incidentally, the minimum investment amount must be 25,000 euros. Detailed information is available here.
