Financing a business in the Czech Republic

Financing a business in the Czech Republic

If you are planning to set up business in the Czech Republic, there are several ways to finance it.

Obtaining finances

Obtaining your finance for starting own business is the next step after market research, location research and business planning. It is recommended to talk to your accountant about possible ways of doing it.

Here are the following options.

  • Bank finance. For this option you should approach bank with a well written business plan, so they could see why the money is required, the exact amount needed and how it will help develop your business and potential growth.
  • Stock market. Floating your company on the stock market maybe a possible way of raising more finance. This will depend on the type of business you set up. It is recommended to seek legal advice regarding stock market option.
  • CzechInvest. Public aid information in the Czech Republic government can be found on the CzechInvest website. It is the Investment and Business Development agency which is divided into three areas such as business and innovation, human resources and employment, and research and development.
  • European Aid grants. These are direct financial contributions from the EU budget or from the European Development fund. It is worth checking out your possible grants, funds and programmes available.

It is important to remember that it can be overwhelming when trying to find ways of obtaining finance, but it is worth to know that there over 450 funding sources for reimbursement grants, aid schemes, individual fellow and traineeships, loans and guarantees in the Czech Republic.

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