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Strona Główna / Dydaktyka w sieci / Tworzenie nowego biznesu / Przedsiębiorczość innowacyjna / Źródła finansowania / Text English

Źródła finansowania

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What are the general trends and specific characteristics of financing a new business worldwide and in Poland? This section will attempt to clarify these issues.
As compared to existent firms, new businesses face a much more difficult situation regarding fundraising. Financing expenditures from current profit is out of question. Moreover, start-up business adepts lack prior achievements or positive credit history to rely on. They have no assets which could serve as a credit collateral.
The common view in Poland is that the lack of external financing is the key barrier for development of entrepreneurship. On top of that, it is believed that in other countries, especially highly developed ones, conditions for new firms are much more favorable. It is therefore necessary to explain the basic facts and trends for financing the start-up of new firms worldwide.
Comprehensive research conducted under the Global Entrepreneurship Monitor project showed that in 2004, the average level of initial capital, calculated based on data from 34 countries, amounted to approx. USD 54 thousand. Although it was slightly lower in Poland, it did not deviate considerably from the global trend.
When considering the sources of founding start-up capital, it turns out that worldwide, it is primarily (in 80% or more) obtained from the founders’ own resources and funds made available by family members, acquaintances and friends, i.e. so-called informal investors. This shows that the lack of possibility to obtain external capital to start-up a business is common and surely not characteristic of the Polish economy only.
To sum up, one can conclude that the search for and obtaining of financial resources necessary to start-up an ambitious business is an important test of the founders’ predispositions and skills. Therefore, it should already be taken into account at the planning stage. For example, when determining the composition of the founding team, at least one of its members should have in-depth knowledge of financial issues.