Own business while studying? Why not!

Service Business

Nowadays, young people, already during their studies, wonder how to reconcile the acquisition of knowledge and experience. It often happens that a university graduate is unemployed for a long period of time or decides to work in a position not related to the acquired education. A good solution that more and more people use is to start their own business. All you need is a good idea, commitment and ... capital. Exactly - where can you get money to start your business while still studying?

Student loan

One option is to take out a student loan. Any university student who wishes to do so and submits the required documents at a bank branch can apply for it. It does not matter whether he or she studies full-time, evening or extramural, at a state or private university. You can receive up to PLN 600 per month, and up to PLN 30,000 during 5 years of study. zloty.

Importantly, the repayment of such a loan begins 2 years after the scheduled graduation. The obtained capital can be used for any purpose - both for current expenses related to living in another city and studying, as well as for financing your own business. The 2-year grace period will allow you to raise funds and start your own business.

The competitiveness of the student loan is due to the fact that the state pays all interest throughout the entire period of studies and for the two years after the planned completion of the studies. In addition, even when the proper repayment of the loan begins, its interest rate is approximately half of the NBP rediscount rate, so it is several or even several times lower than that of other loans. There are no hidden legal loops or other pitfalls that could surprise the borrower.

New government program

Already now, students and graduates from three voivodeships - Mazowieckie, Małopolskie and Świętokrzyskie, and since the beginning of 2014 young people from all over Poland - can take advantage of the government program "First Business - Support at Start". The Ministry of Labor and Social Policy, together with the National Economy Bank, has prepared a project providing assistance to students and graduates who have an idea for their own business, in the form of a low-interest loan for this purpose.

Loans granted under the program under discussion are to be characterized by low interest rates (currently 0.75% per annum). It is support granted under the so-called de minimis aid, due to preferential financing, which differs significantly from market conditions.

The loan repayment period will not exceed 84 months, i.e. 7 years. However, the program provides for the possibility of granting a grace period in the repayment of the loan principal for a period of one year.

The maximum loan amount is to be PLN 60,000. PLN, while the payment of funds is to take place after registering a business.

To be able to receive a loan, it will be necessary for the entrepreneur to issue a promissory note and obtain a surety by two natural persons. In special cases, it may be necessary to establish additional security.

Moreover, in order to receive a loan, interested persons will be required to submit an appropriate application together with a simplified business plan for the project, for the implementation of which the funds from the loan are to be allocated.

Other ideas for capital in college

Students can also take advantage of the help of investors, Business Angels, or join a number of more and more popular start-ups. Another currently available way of helping to start a business, which can be used by people with an idea for an innovative project, is the so-called online crowdfunding.

There are many options. Each student should individually analyze the advantages and disadvantages of each of them, or consult someone who took advantage of such an opportunity. There is no doubt that your own business is a very beneficial solution while still studying, giving you amazing opportunities for development, expanding contacts and opening perspectives for the future. People who decide to set up a business must be patient and persistent in order to maintain their enthusiasm and willingness despite various administrative and bureaucratic difficulties.