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10th Big DataCapricorn Venture Partners
(Leuven)
17/10/2012
Martin van Wunnik
0475/96.95.91
meetup.com/Finance-for-startups
www.slideshare/FinanceCoach24.com
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Technical level
Finance & Accounting level
“How will you make money ?”
Tech startup: Your product is only 1/3 !
Freemium (« build a community »)
Burn rate, cash crunch, « valley of death »
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Why should you create a company?
Limit your liabilities !Professional touch
Fiscal 34% (24% for 3y)Succession
...
Formalities & some costs (bank, notary, KBO/CBE, social secretary)
Double entry accountingRevisor for in-natura contributions
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Legal minimum capital
REAL minimum = Business required ! REAL minimum = Business required !
BVBA-SPRL (min.1)
CVBA-SCRL (flexible)
18.550 EUR � 6.200 EUR(or 12.400 EUR)
SA-NV (min.2): 61.500 EUR
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Revenues (Sales…)
COGS (Cost of Sales)
General Expenditures
Personnel Costs
Depreciation
Financial cost
Profit
Taxes
Profit & Loss statements (P&L)
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Investments / CostsToday 2009 2010 2011
(300) 100 100 100
40 - -
(interest on loans? PDA? Insurance?)
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10 STEPS TO A SCALABLEBUSINESS
A free course at 10steps2.com
@VladBlagi
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Easy to sell
Easy to deliver
Repeatable business
Scalable growth engine
Big, growing market of buyers
Unfair advantage
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And entrepreneurs? They seem to have confused the definition of entrepreneurship altogether.
Entrepreneurship, they mistakenly believe, equals financing!
This is wrong.
Over 99% of entrepreneurs who seek funding get rejected.
Yet, the entire world is focused on the 1% that is "fundable."
http://www.readwriteweb.com/start/2012/01/the-other-99-of-entrepreneurs.php
Funding
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http://www.ideaowl.com/blog/2011/06/microconf-2011-3-surprises-and-learnings-from-best-conference-ever/
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www.impulse.de
weighted average cost of capital (WACC)
Cost of Equity (Re) = Rf + Beta (Rm-Rf).
After-tax cost of debt
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100
506
122
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How to finance your start-up ?
Equity
LT Debts
ST Debts
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10th Big DataCapricorn Venture Partners
(Leuven)
17/10/2012
Martin van Wunnik
0475/96.95.91
meetup.com/Finance-for-startups
www.slideshare/FinanceCoach24.com