How do I start a credit business

Current start-up dates

The ranking from 9th to 1st place:

9. Bank credit

Getting a bank loan for your start-up idea is extremely difficult and unlikely, unless you already have sufficient funds or collateral. But then do you even need a loan?

8. Win a customer or business partner

If you have a good idea and can embody or present it with passion, contact existing customers or business partners. You may be able to inspire them so that they can invest in your company. Not without participation, of course. You should therefore carefully weigh up whether this form of fundraising is right for you.

7. Incubators

The term incubator originally comes from medicine. In the start-up sector, the incubator is an institution or institution that has specialized in creating perfect conditions for growing companies. Incubators offer founders many opportunities, especially consulting services and financing. Companies that “grow up” in incubators have a significantly higher survival rate. One example is Telefónica’s start-up program Wayra in Germany, which supports company founders in the internet and telecommunications sector.

6. Venture capital

There are several private equity firms that specialize in investing venture capital in early-stage startups. The aim of the investment companies is to later sell the purchased shares at a profit, i.e. to earn money at the exit of the start-up. In addition to capital, investment companies also provide their business know-how. This also increases the donor's right to have a say. The companies Target-Partners and Earlybird are among the leading early-stage venture capital investors in Europe.

5. Business angels

These are mostly successful company founders who have a high level of equity due to the sale or IPO of their own start-up. Thanks to years of experience, they have excellent know-how and widespread networks that they make available to the founders. Business angels are often already active in the first phase of the company foundation and are fully involved in the start-up process. There are around 40 business angel networks in Germany, e.g. As a prerequisite for an initial contact, you should be able to present yourself and your idea perfectly and have a business plan.

4. Crowdfunding

The latest variant of fundraising is crowdfunding. The big difference to the traditional financing options is that the number of donors increases significantly. Because there is no single company or business angel investing here, but a large number of people, the bulk. With crowdfunding, a minimum amount of capital is set before an action starts. Every investor, or in this case crowdfunding, receives a small reward as a thank you. The Brainpool company started one of the most famous German crowdfunding projects with the idea of ​​bringing the Stromberg TV series to cinemas. As a goal, the company wanted to collect one million euros, which was achieved after just one week. In StartingUp 04/2014 (ET November 6, 2014) there is an article about crowdfunding that deals with the biggest campaign flops and shows how it can be done better against this background.

3. State subsidies

The KfW funding programs, which are available for various financing situations, should be mentioned here in particular. In general, these loans are granted by the house banks. Since the banks often have little interest in mediating government funding programs, founders should inform themselves about this in advance and ask the bank specifically. The start-up pages of the bank and the corresponding sections within the StartingUp start-up navigation system provide an overview of KfW's funding programs.

2. Friends and family

If you know people in your family or friends who have a high level of equity, then do not be afraid to present your idea to them. However, as with foreign investors, you should regulate everything very clearly and honestly, otherwise you risk damaging these relationships.

1. Self-financing

Nowadays this variant is cheaper than ever. 90 percent of all start-ups are self-financed. It may take a little more time to save your start-up capital or to get started with little money. But the advantages are immense. You retain full control over your company and at the same time have 100 percent of the profits. In StartingUp 04/2014 (ET November 6, 2014) there will be an article about bootstrapping, i.e. the self-financing of start-ups.