Finances for starting a business

You want to start a business and you are looking for funding? You can make use of several sources. Below you can find the most interesting methods of funding for young companies.

Loans for starting a business

If you are:

  • a school graduate (including vocational school) or a university graduate (within 48 months of completing school education or obtaining a professional degree),
  • a student of the last year of education, or
  • an unemployed person,

you may apply for a loan in the amount of PLN 75,000.00 to start your business. Under the "First business - start-up support" program implemented by the Ministry of Labour and Social Policy and Bank Gospodarstwa Krajowego, low-interest loans (less than 1% per year) have been made available.

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More information on the programme, the maximum amount of the loan and interest rates can be found on the website "Support for the first business".

One-off subsidies for business start-ups

If you are:

  • an unemployed,
  • a graduate of a social integration centre, or
  • a graduate of social integration clubs,

you are able to obtain a one-off subsidy from the Labor Fund for starting-up your business activity. This grant is non-refundable. But remember, that before you can obtain it, you must register as the unemployed and apply for this kind of financial support before registering your business activity.

If you do not know how to obtain support from the Labor Fund, we can help you. Please refer to additional information.

EU subsidies for your own business

In the framework of 2014-2020 EU funds you have the opportunity to benefit from grants to start your own business.  The support is intended for people who are under the age of 30 and above that age if they are in a difficult situation.  Apart from funding, you can also rely on career guidance and counselling, trainings, internships and apprenticeships.

The company for the young

If you are under 30 years old, you are not studying or working, you can apply for a grant from EU funds for your business.  Before you receive it, firstly an analysis of your situation and individual abilities will be carried out.  On its basis an individual plan of action will be developed.  From the measures available the most appropriate for you will be chosen. The package of measures contains funds to open a business (more than PLN 20 000), trainings and counselling and advice in the first stage of activity of your company.

Support for persons over the age of 30 years

Even when you are over the age of 30, you have also the possibility of obtaining EU funding for your own business. The conditions may differ according to the region. Remember, however, that in this case the aid covers only:

  • persons over the age of 50;
  • women;
  • persons with disabilities.
  • low qualified people;
  • long-term unemployed.

If you work or do not belong to any of these groups, you can apply for a loan for starting a business. You will have to repay it, but it is easily available, the procedures are shorter and clearer. The basic subsidy is over PLN 20 000. The loans are often higher and may vary according to the region.

If you are interested in EU funding support, contact the regional employment office (most often it is responsible for selecting the institutions to provide grants or loans).  You can also call or write to the Information Point of the EU funds. Information on current funding opportunities for people 30 + can be found also via search tool of grants.

Company in rural areas

If you are a farmer insured by the KRUS and you are planning your own business, you can use the so-called start-up bonus.  Support shall be limited to a maximum of PLN 100 000, and the application for it should be submitted to the Agency for Restructuring and Modernisation of Agriculture.

If you live in the country, but you don't work in agriculture, ask your local authority for Local Action Groups. You can also search them on the website of the National Rural Network.  You must submit an application to the local action group, and the grant may amount to PLN 100 000.

Read more about the company's development funding under the EU funds.

Read practical suggestions, helpful in applying for EU funding.

Guarantee funds

If you are not part of any of the privileged groups who are entitled (as above) to preferential forms of financial support, and you need money to start your business, you must bear in mind, that you have very low chances to get a bank loan at the initial stage.

In order to get a loan, you need a guarantee  - that is security on other property, which guarantees payback. If you don't have such property, there are guarantee mechanisms that allow you to get such guarantee. One of them is the National System of Services (Krajowy System Usług - KSU). The KSU is an institution, which directly offers loan funds or credit/loan guarantees. It is an institution of a non-profit nature. There are almost 100 entities in Poland operating within its framework, see the list here.

As part of the KSU, you have access to many other services - find out more.

For more information on  loan and guarantee funds.

JEREMIE initiative

If:

  • you are starting activity (start-up),
  • you do not have a credit record, or
  • you do not have security of appropriate value,

but you would like to open/you are running business activity in one the following voivodships:

you may take advantage of financial instruments (loans, credits, guarantees) available within the JEREMIE initiative (Joint European Resources for Micro-to-Medium Enterprises), that is a programme of the European Union created by the European Commission. If you want to know more on the JEREMIE initiative, refer to additional information

Funding for modern business

If you want to set up a new innovative business and you are looking for funding, learn more about funding opportunities for start-ups.

Polish Development Fund

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