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Financing a Business in Norway
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Financing a Business in Norway
Finding finance for your business is important. Talking to your accountant can help as it is in their best interest that your business succeeds and they can help you with advice on possible ways of obtaining finance.
Here are some possible ways of obtaining your finance:
- Bank Finance Before making an appointment to see your account manager, make sure you have done the relevant research. A well written and research business plan will be able to assist the bank in seeing why the finance is required, what it will be used for and the potential growth and profit of your business.
- Stock Market it may be possible to float your business on the stock market, depending on the type of business you set up.
- Public Aid Foreign investors can apply for finance such as loans, grants, guarantees and subsidies through the Norwegian Industrial and Regional Fund (SND), houses Invest in Norway. www.nortrade.com
Also Innovation Norway can help with other forms of potential finance.
http://www.innovasjonnorge.no - Tax relief and incentives there is no specific incentives for the promotion of foreign investment, as incentives for business development are usually available regionally and are normally in the form of cheap sites. SkatteFUNN is a scheme that gives companies a tax break for expenses relating to pre-approved R & D projects. www.skattefunn.no
Tax breaks are given to companies engaging in oil exploration and shipping companies.
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