Planning growth in 2020?
According to Luminor survey, 68% of small and medium-sized businesses in the three Baltic countries plan to invest free funds in their managed businesses in 2020.
The largest share of entrepreneurs planning to invest the available funds directly in company's activities is in Lithuania (76%), while in Latvia and Estonia the share is 67% and 61% respectively.
41% of Latvian SMEs are planning to expand their businesses in 2020 and just over one third of SMEs in Lithuania (35%) and Estonia (36%). Companies planning expansion usually intend to increase exports of goods and services and introduce new products to the market.
The year 2020 is gaining momentum and we believe that you have evaluated the performance of your company, the results of the past year and the areas you will improve this year.
New projects, product and service innovation or company expansion require additional funding. We are here to support you in this.
When contacting Luminor, we recommend that you:
- identify your business development opportunities and needs;
- think about what and how much you need;
- decide on the purpose of the financing and for what period the funding is needed;
- evaluate how your business is doing today and prepare the most recent financial statements for the past two years: Balance Sheets, Profit & Loss Statements and Cash Flow Statements, which are essential for assessing financing opportunities.
Consult and discuss your business financing options with us. More information here.