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n 2. 2. 3. Steps for financing of a start-up in the EU The following steps could be crucial in identifying financial resources for a newvalue-added activity in the form of a start-up company:1. Starting with personal financing and credit lines. Reaching out to friends and family. 2. Applying for a business loan.3. Catching the attention of an angel investor. 4. Pitching your start-up to venture capitalists.5. Hosting a crowdfunding campaign. 6. Joining a start-up incubator. 7. Seeking out government grants and subsidies.8. Applying for microlending. 9. Collecting pledges from peer-to-peer lending.In all aspects of a new company establishment, it could be particularly usefulto find inspiration by examining existing success stories, which are publiclyavailable on the websites of EU institutions (for example, see:https://een.ec.europa.eu/success-stories).ConclusionThis chapter has reviewed the most important features of SMEs financing inEurope, as well as some of the most important European funding bodies andsources.Self-check exercises1. What kind of profile do you imagine a business angel would have (age, occupation, personality, confidence and interpersonal affinity, sums to be invested, expected returns, etc.)?2. What are the risks of crowdfunding for a company? For inspiration, see the practical guide at: https://single-market-economy.ec.europa.eu/access-finance/policy-areas/crowdfunding_en3. Find for some advice/funding possibilities on the EISMEA website at: https://eismea.ec.europa.eu/index_en792.2 Access to Finance for SMEs in the EU