You learn to undertake. It is true that you have to have arrests to roll your head, but that, in reality, we all carry it as standard. The key is to know to dare with foundation. During a lifetime at Banco Santander, especially at the Business Office, José Antonio Montalbán has seen that volcanic interior of the entrepreneur boil to eruption in exciting adventures. Now, in early retirement, he explains this process in initiatives such as Finanzas para Mortales, a solidarity program of financial education promoted by Banco Santander through Santander Financial, SANFI, recognized as one of the main initiatives in the country in this area, both by Banco de Spain and the CNMV.

To begin with, Montalbán denies the fear that surrounds us. "A moment as delicate as this is as valid as any other to undertake if the product or service you generate is innovative or differentiating and covers a business niche." He illustrates it by drawing on his infinite anecdotal: «I know small companies that have reinvented themselves to adapt to the circumstances, like one that manufactured fabrics for curtains and has started making masks; they are doing well.

In addition to motivating models, her volunteer work at Finance for Mortals provides "training in basic concepts and a methodology for dealing with the financial circumstances involved in starting up, consolidating and viability of an idea or project."

The great example has to do with financing. "Everyone thinks about bank financing, but there are many formulas, and each project requires a different type of financing." The website is a good gateway to the disclosure that Finance for Mortals makes on this and other matters related to entrepreneurship.

Thus, regarding this topic, practices such as crowdfunding are explained, whereby the entrepreneur exposes his project through social networks or specialized websites in order, in a fixed and limited period, to receive financial contributions from patrons, who can be rewarded both with shares in the company and with gifts, discounts, etc.

Also the lesser known crowdlending, a web page that serves as a platform for many savers to lend small amounts of money to other people or small companies in exchange for an interest that depends on the risk of the investment. Although the tool with the most romantic name may be the business angel, a person with resources who provides money to newly created businesses, usually in exchange for shares in the company.

But Finance for Mortals also clarifies the basics of entrepreneurship. For example, it explains in detail what a self-employed person is, the person who performs a professional activity in exchange for financial remuneration independently. Governed by the Workers' Statute, they must comply with their obligations with the Social Security and the Treasury, but in a different way than the employee, with multiple possibilities that adapt to different profiles.

Any self-respecting entrepreneur will also have to tackle the thorny issue of taxes. Finance for Mortals delves into the complex (but much less when explained well) intricacies of VAT, which is applied to the purchase and sale of products and services, or personal income tax, which is applied to the different income that a person receives.

Finally, whether we like it more or less, accounting is essential for order to prevail over enthusiasm. Concepts such as the balance sheet appear here, a document that collects the origin and application of the funds, as well as the assets, rights and obligations owned by the company, differentiating between assets and liabilities; the income statement, which includes the difference in income and expenses of each of its activities; and other terms with which the entrepreneur will have to become familiar.

Everything is putting on. «Many people tell me that they thought that the banks were just people with ties who attended you behind a table and with the face of few friends ... Until they meet us and sit down with us so that we explain things that previously sounded like incomprehensible jargon "Concludes Montalbán."


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