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Financing a Business in the Czech Republic

Obtaining your finance for your business in the Czech Republic is the next step after market research, location research and business planning is undertaken. You may wish to talk to your accountant about possible ways of obtaining finance as they can help and advice on the subject.

Here are some ways of obtaining possible finance when setting up a business in Czech Republic:

• Bank finance your bank maybe able to help with finance. It is important to approach them with a well written business plan, this way they can see why the money is required, how much, how it will help to 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. AIM, the junior partner of the London Stock Exchange (LSE), has established itself as the preferred route for younger companies wanting to go public.
• Public Aid information on public aid from the Czech Republic government can be found the website of CzechInvest it is the Investment and Business Development Agency and is an agent of the Ministry of Industry and Trade of the Czech Republic.
• CzechInvest is divided into three areas business and innovation, human resources and employment, and research and development. To find out more about the funds, loans and guarantees go to their website. http://www.czechinvest.org/
• Tax relief and Incentives The Czech Republic Chamber of Commerce represents large, medium and small sized businesses in local and regional chambers and branch associations. They can may be able to help with information on possible tax relief or incentives.
• The CzechInvest website can also help with tax incentives.
• Business Info website this portal is operated by the government agency, CzechTrade, and the guarantor is the Ministry of Industry and Trade. http://www.businessinfo.cz/cz
• European Aid grants 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 by following the link and looking under a particular section i.e. Agriculture, Energy or Audiovisual and Media. http://ec.europa.eu/grants/index_en.htm

It can be overwhelming when trying to find ways of obtaining finance. It is worth remembering that there are over 450 funding sources for reimbursable grants, aid schemes, individual fellow and traineeships, loans and guarantees in the EU. These can be awarded from such organisations like the European Commission, the Council of Europe, the European Investment Bank and others.Helpful links are:

http://www.eubusiness.com/funding/eu-funding/european-funds/
and http://cordis.europa.eu/eu-funding-guide/finding-sources_en.html

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