Financing to grow your business

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Netherlands Enterprise Agency RVO
Netherlands Enterprise Agency RVO

You want to expand your business with a new service or new product, and you need financing. Make a financial plan first. You will need this to get financing. Not only from a bank, but also from the government. Because the government also offers financial opportunities for your business. These can be subsidies, credit guarantees, and tax schemes.

Draw up a financial plan

You need a financial plan to get financing. The same is usually true for applying for a subsidy or financial scheme from the government. That is why you should also draw up an investment budget. This budget states the total amount you need and for what.

Check if there are subsidies available for your business

The government offers various subsidies, co-financing, guarantees, and tax schemes for entrepreneurs. These schemes have a national, regional, and international focus. Check the subsidies guide to see if funding is available for your plan. Or use this overview in Dutch. Select by topic, region, or type of funding and see your options and conditions.

Borrowing money for a feasibility study

With a feasibility study, you determine at an early stage if the innovation of your product or service has a chance of success. For this research, as an SME or innovative starter, you can apply for Proof-of-concept funding (Vroegefasefinanciering, VFF). This is a loan that you must repay with interest. For the VFF, you need to prepare at least the following:

  • A business plan showing that your business will grow substantially.
  • A renewal plan.
  • A letter of intent from a prospective investor who will finance your project.

The conditions for an SME (in Dutch) or innovative startup (in Dutch) differ. Read the conditions carefully before applying.

Ask your bank for the credit guarantee scheme

You want to take out a loan from your bank, but you do not have enough collateral to offer security. Then the government can act as guarantor with the SME Credit Guarantee Scheme (BMKB). The BMKB is intended for SMEs with up to 250 employees. Self-employed professionals are also considered SMEs. You do not apply for this guarantee scheme yourself. The bank does so for you. Ask your bank if you are eligible for the BMKB.

Check the government schemes for startups

Are you using innovative technology for your new ideas? Then you are a so-called startup. Startups often encounter potential investors who prefer to avoid the risks. The government can remove the risks for investors with various schemes. Which scheme or financing mix best suits you depends on your plans. The Startup Box offers a step-by-step process to find out. Go directly to the Startup Box.

Find external funding

In addition to financial support from the government, other external funding is also possible. Banks may be the most obvious example. But there is also alternative funding through informal investors, such as crowdfunding or Business Angels. So there are more ways to finance your business. Check out the options for external funding.

Questions relating to this article?

Please contact the Netherlands Enterprise Agency, RVO