How do you build your business acumen

Business acumen despite Corona

Published on December 1st, 2020 by the blog editorial staff of the OLB

 

Streaming formats such as Netflix or Amazon Prime Video have been booming since the pandemic and, thanks to lockdown, have seen a large increase in sales. Sure: In isolation, many people long for distraction and entertainment. But movie evenings are really fun together with friends and not alone in front of the TV! The start-up “Streamparty” has found a solution for this. With its application of the same name, friends and acquaintances who do not live in the same city can watch a film of their choice on the provider's homepage and have a video chat at the same time. The result: the streaming platform has been extremely popular since the beginning of the pandemic and offers a clever solution for long-distance relationships even after the corona crisis.

But it is not only our private social life that is affected by the effects of the lockdown. Working parents in particular, who recently have to look after their children in the home office in addition to their work, are confronted with unexpected challenges by the new everyday situation. The business model of the pedagogue Maria-Luisa Puttich starts at this interface. With her educational start-up “Hooray-Box” she offers a “day care center to go”. What's behind it? A colorful range of handicrafts and learning materials for children. From circus worlds to trips to Mars, three- to six-year-olds can discover a wide range of virtual educational opportunities. The digital day care center is crowned with success - the number of subscribers has increased tenfold within a very short time.

 

Both examples show that creative business models have a chance even in the pandemic. But creativity alone is not enough, because not every dream of a start-up can come true. The right support is also an important factor for success. You can find out where you can get funding and advice here.

 

What support do start-ups get from the state?

The state supports young entrepreneurs and start-ups with “business start-up advice”. Here an expert evaluates the chances of success of the submitted business idea. He also provides advice on marketing and the creation of a business plan. The advantage: the chances of getting a loan increase with the conclusive drawing up of the financing plans. The federal government bears up to 80 percent of the costs of the consultation. During the pandemic, 100 percent of the costs will be reimbursed.

Another government initiative that supports the founding of a start-up or a new company is “start-up coaching”. Here, experts advise on financial issues and the application for funding. Here, too, up to 80 percent of the costs are reimbursed - up to 100 percent during the Corona crisis. In addition, there are so-called innovation vouchers that subsidize the planned business project in certain areas.

 

The OLB supports start-ups:

OLB also supports the establishment of a start-up. We support regional young entrepreneurs in all steps of the establishment of a company. Our consultants comprehensively cater to the individual needs of the applicant. Another plus: With our banking products, we offer a range of options with which the business idea can pick up speed. Because our network includes both public funding and advisors to the private sector. We are also in close contact with chambers and associations. Among other things, OLB is a partner in the medium-sized investment company (MBG) and a member of the credit decision-making committee. In addition, we are a partner of the region in the start-up network Startups-Nordwest and an active sponsor of the GO! Start-up center Oldenburg.

 

Conclusion:

During the pandemic, numerous founders demonstrated their creative potential. This has resulted in new business ideas that make our everyday lives easier even after the crisis. Support in the start-up and establishment phase is not only offered by state funding programs, the OLB is also at your side with your brilliant ideas. We have already sponsored a number of start-ups in the past. For example, the young Bremen start-up Reishunger. A company that offers everything to do with the popular supplement. Have you had a creative idea for a long time that you would like to realize? You can find more information about our advice on our website.