According to the Graydon and Unizo Startup Atlas, the number of businesses being set up in Belgium dropped 2.3% in 2012. In order to counter this negative trend, which has intensified in 2013 with a drop of 8% in the first quarter, BNP Paribas Fortis is launching today a new offer aimed at startup entrepreneurs. With a range of banking benefits plus extra-banking assistance, the Bank intends to encourage people to set up their own business and help to simplify the procedures.
Every year, 18,000 entrepreneurs start up their own business with the help of BNP Paribas Fortis. “Up to now they have received personalised support from one of our Professional Client Advisors, but now we’re broadening the service in order to increase the startups’ chances of success,” explained Bart Ecker, Director of the bank for entrepreneurs, at BNP Paribas Fortis, adding: The new Startup offer is designed not only to assist new entrepreneurs financially, but also to provide them with access to our partner network.”
A Flying Start with financial advantages
Anyone wishing to set up a business can already obtain personalised advice at a BNP Paribas Fortis branch to help get it off the ground. BNP Paribas Fortis is now introducing 'Flying Start'. The new service is designed to provide tailored advice to young entrepreneurs, together with a guide on how to start your own business, plus a checklist to help the business starter prepare for his/her first meeting with a professional advisor who has an intimate knowledge of the sector.
In addition, BNP Paribas Fortis is offering the young entrepreneurs a range of special extras worth some €450 euro: one year free use of the Pro Pack business current account; free-of-charge access to PC banking business, the online banking platform for professionals; plus a 20% reduction in charges for filing a loan application.
“Around half of all business starters need financing. In spite of the assistance provided by the authorities and startup support organisations, we observe that young entrepreneurs are less successful when they do not have an appropriate banking package,” points out Bart Ecker.
As regards provision of credit, BNP Paribas Fortis intends to make more use of vehicles for co-financing alongside public-sector partners such as the Flanders-based enterprise finance body PMV and its equivalent in Wallonia, Sowalfin. This approach guarantees the business starter a lower basic interest rate on borrowings and provides greater security for the Bank.
Extra-banking benefits
Henceforth BNP Paribas Fortis is also planning to offer extra-banking assistance with such practical steps as registering with the Companies Register and signing up to the self-employed workers’ social security provider, and will also register the entrepreneur free of charge with the VAT authorities. In this area, BNP Paribas Fortis works together with the self-employed social security and insurance provider Xerius, which provides advice on all social security matters.
One of the main causes of early bankruptcy among young companies is a shortage of cash-flow due to late customer settlement of invoices. To help counter this risk, software publisher Exact has agreed to allow all startup companies banking with BNP Paribas Fortis to use free of charge for six months its Exact Online accounting package. In addition, leading consultancy KPMG will provide its services at highly preferential rates to help our business starters to draw up their standard contracts and work out a business plan and financial plan. Lastly, the entrepreneur will also enjoy the use of one or more Total fuel cards free of charge for one year.
Tips
Every new entrepreneur who sets up in business with the help of BNP Paribas Fortis will receive a copy of the new startup guide by Hans Hermans – Starting up in your own garage (in Dutch of French) – which contains 48 tips from seasoned businesspeople, startup coaches and finance experts, thus helping to avoid the pitfalls that lie in wait for every inexperienced businessperson.
For more information on the new BNP Paribas Fortis Startup offer: in Dutch or French.