Short guide for a company with European funds

If you want a professional life alone, you think you have an entrepreneur spirit or want to actively contribute to the development of the community, perhaps it is time to think about your business. And for this reason it is good to be as informed as possible on the financial instruments that you can access, such as European funds.

European funds are a financial stimulus for the development of the economy, which is why we have prepared a guide to integrate your choice for the moment when you decide to enjoy the entrepreneurial spirit.

What are European funds

As part of the European Union, Romania benefits from external financial aid to stimulate the development of the economy. And this implies the granting of European funds intended to finance fully or partially entrepreneurial ideas that will generate economic growth in communities.

European funds are directed to company projects for research, technological development and innovation, agriculture, the support of young farmers and fishermen, supporting entrepreneurship, the development of the health system, etc. In other words, European funds provide priorities to commercial ideas that develop and strengthen living conditions, local and national communities, which create new jobs and companies that can integrate into the young labor market.

Improving and increasing the quality of life, creating a circular economic operating system is the reason why the EU offers these European funds that can generate work. The protagonists of the projects supported with European funds can be: SME, NGOs, public or educational institutions, natural people, owners of agricultural land, start-ups, etc.

Short guide for a company with European funds

Access to European funds to start a business is an opportunity for professional development both for the market and for the project entrepreneur. However, not all the proposed projects receive approval for which they enroll in those who are registered with the financing programs.

The first step Accessing some European funds is the choice/ institution of a commercial idea that is the subject of the project. This idea must be the value you intend to bring to the community and the development of the economy.

The second step It is to identify the financing opportunity. The investment indications mentioned above led to the creation of several financing programs, with different conditions of eligibility, different support percentage (full or partial, non -reimable, etc.). In this phase it is good to have at least the idea of ​​opt for the European financing program that adapts to you. Some financing programs have integrated introductory (preparatory/ training) courses that help you familiarize all the details and information necessary.

A pre -passo It could consist in the choice of a consultancy company that guides you, supports you and helps you to create all the stages necessary to access European funds. An expert partner, specialized in these projects, can significantly increase the possibilities of receiving the approval you want, based on a commission or a tax set per hour.

Step number three It implies the processing of the business idea for which you choose the financing program and the proposal to implement it on the market. In other words, now that you have set the idea of ​​business and you know in excellent lines the budget you need (or for which you opt for its beginning), you will build a project that includes: the impact, the actions and results proposed with their respective funds. The project (depending on the cases may be) must include: a local or national market research that will place the company in the adequate role, the way you intend to have an impact on the market and on the economy, a series of structured shares, staged and developed individually, a company plan (acquisitions, investments in an evaluation, etc. etc. framework with results or consequences.

It seems simple, it is not difficult, but to make sure to respect the conditions imposed by the financing project, which you can integrate your vision and spirit of entrepreneur, you can call the specialists to guide you or help you carry out the project. If you opt for a consultancy company that will guide you or help you create the specific phases of European funds, consider its cost. Depending on the financing program, it can be considered an admissible and framed expenditure in the analysis of the project or not (in this case, this will be an expense that will be worn independently of the loan received).

The next step It is to establish your legal entity that you want to keep your business (small business, farmer, PFA, srl, etc.) to make sure that the budget you will receive and the activity you intend to carry out and cover the legal rules.

Step number five It represents the preparation and presentation of the necessary online file, depending on the financing chosen. Each European financing program provides the guide of the applicant, which provides all the information necessary for the preparation of documents: the company plan (the project), the legal documents of the company (depending on the case), the application for financing, related attachments, etc.

Next step It consists in evaluating the file and response relating to its approval. Here we add the analysis of the project from a technical and financial point of view, compliance with the conditions imposed and announced in advance, the request for further clarifications or documents, a possible phase of separation if the number of applicants exceeds the budget allocated in the program, the notification of the applicant regarding the approval of the project, signing the financial decision (if the project receivers, etc.

The final passage It consists in accessing the funds received and the implementation of the company plan. The project carried out at the third point includes a phase of actions, with a time and a budget (Gantt graphic designer) to pursue, control and respect the proposed objectives (working times, budgets allocated on purchases, human resources strategy with the training and strategy of integration, communication and promotion necessary).

Depending on the financing program for which it was opted, the project implementation phase can benefit from an advance received for the start of the company or a deck credit offered by medium -term banks, until the money received from European funds.
If you think you have an entrepreneur spirit, understand the corporate concepts on the market and you think you can work with them, if you don’t want to consume your savings or wait to lift them, start an activity with European funds can be a good start. This excludes the risks you can have by accessing a loan. Assuming a relationship with the bank for which you are not yet prepared, it exceeds the consequences of a request for financing not professed, then choose informed and with minimal risks for you.