CAP CREATION SARTHE

Financing of the business start-up leave

PORTO Thirsday 6th December 2007

1- Our association

- Association founded in 1992 by local entrepreneurs and economical partners- 15 years experience

-Our job: to help local junior entrepreneurs to create, to take over exiting companies or to develop their firm.

-Our tools: information and advice, financial helps, personnalised follow-up during the 5 starting years of the firms.

-Cap Création Sarthe, financed by the « Conseil Général de la Sarthe », public institution, offers the « financing of the business start-up leave », and a « national creators competition ».

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2- The « financing of the business start-up leave »

to help salaried people to work further on their creation project, before launching their enterprise.

In France, every wage earner can ask his employer for a « business start-up leave ».It is a period of 1 year during which the person doesn’t work anymore for his employer, but for his project. It means no wages during this period. If the person reaches a deadlock, he can return to his former employer.

Cap Création Sarthe finances this « business start-up » preparation: 70% of the wages during 6 months, 50% during the last 6 months.

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4- Key figures

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Since 2002, among 496 interested contacts, we met 219 project initiators.51 demands have been granted and 43 demands of financing for the business start-up leave have been financed or are still being financed for a total amount of 673 000 €.

Today, 30 firms created through this tool are still alive.

99 jobs have been created.

4- tranferability potential

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- can be applied for complex enterprises acquisitions (not only creation)

- can be allowed for jobless who don’t earn anymore unemployment benefit 

- can be applied for students who want to create their enterprise after their last year studies (under certain conditions).

Thank you all for your attention