Seminar ‘Business Financing’ in Portugal


In the framework of the European project In-Business Growth from the Horizon 2020 programme, where various agents of innovation have cooperated to review practices related to the design and implementation of innovation support programs for SMEs, the first 'Business Financing' seminar has taken place in Portugal the 26th of January, in order to offer, to approximately one hundred entrepreneurs, basic knowledge in investment and business financing, among others, to be able to acquire the necessary skills to fend for themselves in this field.

This training activity that has taken place in the Portuguese city of Faro, was made possible by the recent cooperation agreement signed between the University of the Algarve and the Bank Foundation Unicaja, whose main objective is to promote financial education within the public in general, with special attention to university students, and giving an international jumping.

This collaboration agreement was one of the results of transfer activities developed in the framework of the European project In-Business Growth, carried out by several international entities, such as the University of the Algarve, in which several innovation agents cooperate to revise practices related to the design and implementation of initiatives to support innovation for small and medium-sized enterprises.

During one year, partners and actors of the 'In-Business Growth' project have worked on the analysis of the current situation in this field, in the creation of a handbook of good practices and in the establishment of a new innovative methodology which may be transferred to any agent who has the willing to improve the growth and existence of SMEs.

Under the agreement, signed by Unicaja and the University of the Algarve, both institutions will encourage the promotion of financial education programs through the organization of courses and other activities to provide university students the necessary knowledge in this area. Thee agreement is based in the premise that, with the knowledge of basic financial concepts of all the citizens in general, and, university students and entrepreneurs in particular, the transparency, security and responsibility in the development of their relations with financial will take to a greater efficiency in the market.

The training session counted with the participation of the Deputy Director of Technology Transfer and International Relations from the Technology Park of Andalucia, Sonia Palomo, and Domingo J. Narváez, Head of the Business Unit from the Business Banking Management from Unicaja.

During the seminar 'Business Financing', whose objective was to expose the results of the project In-Business Growth and strengthen the cooperation between Spain and Portugal, the main interest focus on the promotion of entrepreneurship and, accordingly, in the keyes to ensure the success when a business is launched.

Attendees were provided with skills to address the creation of a business plan, and, after the initial networking, the economic and financial plan of the companies were analyzed, with emphasis on the study, with aspects such as, for example, the initial investment and the funding plan, the Treasury, estimate profit and loss budget, balance sheet or indexes of profitability.

Another important issue discussed in this seminar has been the funding information, covering the different types based on the cycle of life of the entity, the aspects to consider when looking for financing and the different options, such as internal or external funding.

Edufinet, a pioneering initiative

The Edufinet project was launched in late 2007, although its development began in 2005, within Unicaja and with the collaboration of the International University of Andalusia (UNIA) and the University of Malaga (UMA). Edufinet became one of the pioneers financial institutions in Spain to launch such initiative, and has been recognized with several awards. Since the establishement of Edufinet, more than 75,000 people have participated, directly or indirectly, in lectures or project seminars, of which 55,000 are young. In addition, the web site - which offers systematic and practical information that do not require previous knowledge - has recorded more than 5.5 million visits, consultations with access from almost 180 countries.