You learn to undertake. It is true that you have to have arrests to roll your head, but that, in reality, we all carry it as standard. The key is to know to dare with foundation. During his entire life at Banco Santander, especially at the Business Office, Josà © Antonio Montalbán has seen that volcanic interior of the entrepreneur boil to eruption in exciting adventures. Now, in early retirement, he explains this process in initiatives such as Finanzas para Mortales, a solidarity program of financial education promoted by Banco Santander through Santander Financial, SANFI, recognized as one of the main initiatives in the country in this area, both by the Banco de Espaà ± a and the CNMV.
To begin with, Montalbán denies the fear that surrounds us. “A moment as delicate as this is as valid as any other to undertake if the product or service you generate is innovative or differentiating and covers a business niche”. He illustrates it by drawing on his infinite anecdote: “I know small companies that have reinvented themselves to adapt to the circumstances, such as one that manufactured fabrics for curtains and has started to make masks; they are doing well”.
In addition to motivating models, her volunteer work in Finance for Mortals provides “training in basic concepts and a methodology to deal with the financial circumstances involved in the start-up, consolidation and viability of an idea or a project.”
The great example has to do with financing. “Everyone thinks about bank financing, but there are many formulas, and each project calls for a different type of financing.” The website www.finanzasparamortales.es/tag/empredamientos/ is a good gateway to the dissemination that Finance for Mortals makes on this and other matters related to entrepreneurship.
Thus, with respect to this topic, practices such as the crowdfunding, whereby the entrepreneur exposes his project through social networks or specialized websites in order, within a fixed and limited period, to receive financial contributions from patrons, who can be rewarded both with shares in the company and with gifts , discounts, etc.
Also the least known crowdlending, a website that serves as a platform for many savers to lend small amounts of money to other people or to small companies in exchange for an interest that depends on the risk of the investment. Although the most romantic name tool may be the business angel, a resourceful person who provides money to newly created businesses, usually in exchange for shares in the company.
But Finance for Mortals also clarifies more basic concepts of entrepreneurship. For example, it explains in detail what a self-employed person is, the person who performs a professional activity in exchange for financial remuneration independently. Governed by the Workers’ Statute, they must comply with their obligations with the Social Security and the Treasury, but in a different way than the employee, with multiple possibilities that adapt to the different profiles.
Any self-respecting entrepreneur will also have to tackle the thorny issue of taxes. Finance for Mortals delves into the complex (but much less when explained well) intricacies of VAT, which is applied to the purchase and sale of products and services, or personal income tax, which is applied to the different income that a person receives.
Finally, whether we like it more or less, accounting is essential for order to prevail over enthusiasm. Concepts such as the balance sheet appear here, a document that includes the origin and application of the funds, as well as the assets, rights and obligations owned by the company, differentiating between assets and liabilities; the income statement, which includes the difference in income and expenses of each of its activities; and other terms with which the entrepreneur will have to become familiar.
Everything is putting on. “Many people tell me that they thought that the banks were only people with ties who attended you behind a table and with the face of few friends … Until they meet us and sit down with us so that we explain things that before they sounded like incomprehensible jargon, “concludes Montalbán.”
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