Page 7 - RECOVER Guide How to truly become a green entrepreneur_EN

Things you can do

before starting a business

At business level

Evaluate the viability of

your business idea

To assess the viability of your eco-friendly
business concept, begin by ensuring that your
concept is consistent with both financial and
environmental sustainability. Conduct targeted
market research with an emphasis on
ecological impact, engage with potential
consumers to assess interest, and contemplate
piloting a small-scale version of your concept.
Using this method guarantees that your
business is not only profitable but also able to
adjust to evolving circumstances and remain
committed to its ecological mission. Through this
action, you establish a strong foundation for
long-term success.

Create a realistic financial

plan

It is essential to incorporate realistic, field-
proven data into your financial plan for your
green business rather than relying on mere
hypotheses. Begin by formulating a thorough
financial strategy that encompasses a detailed
income statement, balance sheet, and cash
flow projections. This will assist you in
evaluating the financial stability and readiness for
your business investment. In order to obtain
funding, it is advisable to investigate both
conventional and unconventional sources,
including crowdfunding platforms, microcredits,

and ethical institutions, which are in accordance
with the principles of environmentally friendly
businesses.