mrzippy Posted December 10, 2007 Report Share Posted December 10, 2007 Good evening all.... I own a small renewable energy company here in France and am seriously suffering from lack of investment and financing possibilities. The French banks just do not want to know!! they will only, in general, accept bank loans on (1) French Nationals preferred (2) Property owners preferred (I am not French but English and I have insufficient personal funds to afford to buy here) My turnover increased 318% from Yr1 to Yr2, but due to errors caused by the 'untouchables of this world' (expert comptables) have now been caned by the French Companies House (their version) and have been fined heavily all due to total FUBARs by the accountants but it's me who picks up the tab!! Yr1 was only €12K sales; Yr2 €38K and Yr3 looks at about €65K but this doesn't mean the banks will accept financing!! Someone out there MUST have a lead on how to get financial help for me... I sell all kinds of renewable stuff (see www.un-ami-en-france.com) (OK it's all in French, but being a French registered limited company, the French demand that the main site is in FRENCH) and need to secure my future... am at 2yrs and 9mths since founding and will be very lucky to see out the third birthday Please help me.... been a green energy fanatic since 1972 and cannot see my company fail and bankrupt me personally Derek in Saint-Malo, France Link to comment Share on other sites More sharing options...
drbubb Posted December 11, 2007 Report Share Posted December 11, 2007 Good evening all.... I own a small renewable energy company here in France and am seriously suffering from lack of investment and financing possibilities. ..Yr1 was only €12K sales; Yr2 €38K and Yr3 looks at about €65K but this doesn't mean the banks will accept financing!! Derek in Saint-Malo, France These are small numbers. Such early stage co's are highly dependent on management's skill and commitment They normally get financed by the entrepreneur and/or his friends and family Link to comment Share on other sites More sharing options...
Arn Posted December 12, 2007 Report Share Posted December 12, 2007 These are small numbers.Such early stage co's are highly dependent on management's skill and commitment They normally get financed by the entrepreneur and/or his friends and family The start is the hardest part. You have to juggle 1. Sales (and getting paid) 2. Keeping costs down 3. Investing in the future The challenge for start ups in the growth phase is to do all 3. My hat goes off to all those that try this as they have made a step many have talked about but few have chosen. Personally I think you will find it very challenging to raise funds from people you have not met and dare I say it you may actually not want to once you have met them. Choosing your fellow investors is very important to your success. I would suggest using your network, 1) quietly building up your image and business soundness (this requires time and patience) 2) Using platforms such as Xing.com, linkedin.com and the French equivalents to build up your internet prescence (Cost zero, only time to build up a profile), contribute to the appropriate forum in your business area (best on the French one I would suggest) 3) join and attend the local chamber of commerce Some potential clients while green intentions are at the front may find Price paid now an issue. If this is a challenge you find then perhaps give a qualified estimate of annual savings to the client ie they can calculate a pay back period. These are only a few ideas. Is there a business mentor who you can recruit to give you more general and more French answers? Lastly this may not apply in France but can you claim at all even under small claims court for low legal fee to you? A mentor or Chamber of Commerce might be able to help here. Arn Link to comment Share on other sites More sharing options...
mrzippy Posted December 14, 2007 Author Report Share Posted December 14, 2007 The start is the hardest part. You have to juggle1. Sales (and getting paid) 2. Keeping costs down 3. Investing in the future The challenge for start ups in the growth phase is to do all 3. My hat goes off to all those that try this as they have made a step many have talked about but few have chosen. Personally I think you will find it very challenging to raise funds from people you have not met and dare I say it you may actually not want to once you have met them. Choosing your fellow investors is very important to your success. I would suggest using your network, 1) quietly building up your image and business soundness (this requires time and patience) OK but... and a very large but... here in France the solcial charges are getting excessive and the cost to run the company needs about €1000/$1500 per month of income (profit) just to break even... 33 months on the go... have not paid my self a penny!! the biggest things that hurt are the cock ups from the two companies of Chartered (equivalent) accountants, now leaving me an adjusted VAT bill of €3000/$4500 to find, a bill from the accountants themselves of €2000/$3000 (as they forgot to install the monthly payments regime for this year... so they whacked the account with the whole year in one hit)several clients who ordered, paid a % and the went into liquidation (€12000 this year alone) 2) Using platforms such as Xing.com, linkedin.com and the French equivalents to build up your internet prescence (Cost zero, only time to build up a profile), contribute to the appropriate forum in your business area (best on the French one I would suggest) 3) join and attend the local chamber of commerce have done so, but they're a bunch of civil servants with one thing in mind, is to look after themselves Some potential clients while green intentions are at the front may find Price paid now an issue. If this is a challenge you find then perhaps give a qualified estimate of annual savings to the client ie they can calculate a pay back period. These are only a few ideas. Is there a business mentor who you can recruit to give you more general and more French answers? Lastly this may not apply in France but can you claim at all even under small claims court for low legal fee to you? A mentor or Chamber of Commerce might be able to help here. Arn Link to comment Share on other sites More sharing options...
Arn Posted December 14, 2007 Report Share Posted December 14, 2007 French Social charges is something known about. I hope it did not come as a sock when they started. Can you sue? Link to comment Share on other sites More sharing options...
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