Financing your retail business
When launching your business, one crucial question looms: how will you finance this adventure? Let's explore various funding options and strategies to set your venture on solid financial footing.
Before diving into funding options, take time to evaluate your financial needs for the short, medium, and long term. Each phase of your business— launch, growth, transition— demands appropriate resources. Thorough planning helps avoid surprises and safeguards your entrepreneurial future.
You : the first investor
Remember, you are your business's primary investor. A substantial personal contribution not only increases your chances of success but also demonstrates commitment, enhancing credibility with potential financial partners.
Consider tapping into "Love Money"— financial support from family and friends. In Brussels, the Proxi Loan allows borrowing from loved ones while offering them tax advantages.
Loans: beyond traditional banks
While banks play a crucial role in business financing, they can be cautious with startups.
Alternatives exist:
Microcredit
microStart offers loans up to €25,000 for people wishing to test and launch a business or boost their established business. These loans are generally used to finance various needs such as equipment, stock, cash flow, business start-up costs, renovations, vehicles, and more.
Finance&invest.brussels
Finance&invest.brussels is a public institution offering loans, guarantees, and equity investments for Brussels-based entrepreneurs during key business phases, such as startup, growth, innovation, internationalization, sustainability, takeover and transfer.
Crowdfunding
Crowdfunding is an innovative approach to financing your project by gathering support from multiple contributors through online platforms. This method not only facilitates market testing but also aids in building your brand. It can manifest in various forms, including donations, loans, or equity investments.
Public grants and support
The Brussels Region offers a range of public grants to help finance your future business, café or restaurant.
Local authority grants
Some municipalities provide grants for new shops, facade improvements, or terrace installations. Check with your local authority for specific conditions.
📌Tip : Check with your municipality, as conditions vary.
Regional grants
There are two types of grants in the Brussels Region:
- Calls for projects: each year, several calls for projects are launched to finance specific initiatives. Funds are allocated based on an application, which must be submitted within a set period. A selection is then made.
See all ongoing calls for projects
- Grants of Brussels Economy & Employment : available year-round for various business needs, subject to eligibility. These funds can be used for various purposes, including financing renovation projects, purchasing equipment, providing training, acquiring cargo bikes for deliveries, installing security systems for your business, developing an online sales platform, or accessing consultancy services in areas like marketing and legal matters. Don't forget—it's important to submit your application before making any expenditures!
Recruitment grants
While not direct funding, these can reduce costs by facilitating staff recruitment at lower rates. There are schemes at regional and federal level.
Who can help me ?
