Fuentes de Financiación para Empresas: Guía Completa
TEMA 8: LES FONTS DE FINANÇAMENT D’UNA EMPRESA:
Sónels recursos líquids o els mitjans de pagament a disposició de l’empresa per afrontar les seves necessitats dineràries.
La principal classificació de les fonts de finançament que anem a veure fa referència a la titularitat dels recursos. Caldrà diferenciar entre recursos propis i recursos aliens.
****Recursos propis o finançament propi****:
Són els recursos més estables de què disposa l’empresa, ja que no s’han de tornar en tota la vida d’aquesta perquè estan vinculats a ella de forma permanent. D’altra banda són els que tenen més risc ja que, en cas de fallida, els socis són els últims en rebre la part corresponent a la liquidació de l’empresa.
Es poden dividir en dues categories: recursos propis amb caràcter extern i recursos propis amb caràcter intern o autofinançament.
A. Recursos propis amb caràcter extern
*Capital social:
Aportacions dels socis.
*
Subvencions:
Concedides per administracions públiques.
B. Recursos propis amb caràcter intern o autofinançament (fons que es generen a l’empresa com a conseqüència de la seua activitat)
*Reserves:
Beneficis no distribuïts per l’empresa
*Fons d’amortització:
Valor que perd l’immobilitzat al procés de producció.
*Fons de provisions:
Fons que crea l’empresa per afrontar pèrdues que no s’han
produit encara.
Avantatges de l’autofinançament:
– Atorga a l’empresa més autonomia i llibertat.
– Per a les pimes constitueix pràcticament l’única manera d’obtenir recursos a llarg
termini.
– Aporta liquiditat a l’empresa sense que aquesta hagi de recórrer al mercat de
capitals.
Inconvenients de l’autofinançament:
– Disminueix els dividends (repartiment de beneficis) i, per tant, la rendibilitat que percep el soci per la seua aportació de capital.
– Com que no té un cost explícit, hi ha perill que s’utilitzi en inversions poc rendibles.
– Es genera de manera gradual i lenta.
****Recursos aliens****:
Les empreses, generalment, necessiten més recursos dels que proporciona el finançament propi; per això, han de recórrer al finançament aliè.
A. Recursos aliens a llarg termini
Són aquells dels quals l’empresa disposa durant un període superior a un exercici econòmic i que, una vegada passat aquest temps, ha de tornar amb els interessos corresponents. Hi ha els següents:
– Préstecs a llarg termini:
Demanats a institucions de crèdit.
– Emprèstits:
Títols (obligacions, bons, pagarés) que emeten les empreses i són comprats per particulars o altres empreses.
– Lísing o arrendament financer:
És un sistema de finançament mitjançant el qual
l’empresa incorpora algun element d’actiu a canvi d’una quota d’arrendament.
– Rènting:
Modalitat semblant al lísing però no ofereix la possibilitat de compra al
final del contracte.
B. Recursos aliens a curt termini
Son aquells dels quals l’empresa disposa d’un periode inferior a un exercici econòmic i ha de tornar amb els interessos corresponents. Els més utilitzats són:
– Préstecs a curt termini:
Demanats a institucions de crèditi a tornar en menys de 12 mesos més uns interessos.
– Crèdits bancaris a curt termini:
Dos tipus: descobert en compte o compte de crèdit (línia de crèdit: disposar d’uns diners que haurà de tornar més uns
interessos)
– Emprèstit de pagarés de l’empresa:
Títols de deute que emeten les empreses per aconseguir finançament a curt termini.
– Crèdit comercial:
Finançament automàtic quan l’empresa deixa a deure les compres que fa als proveïdors.
– Descompte d’efectes:
Quan les lletres o pagarés es cedeixen a una entitat financera.
– Factoring o facturatge
Vendre tots els drets de crèdit sobre clients a una empresa anomenada factor. Avantatge: liquiditat immediata. Inconvenient: Elevat cost d’interès i comissions.
– Confirming o confirmació de pagament:
Servei que ofereixen entitats de crèdit perquè els proveïdors cobren abans de la data de venciment les seues factures. Avantatges: Reducció de costos administratius i millora de la imatge de l’empresa.
– Fons espontanis de finançament:
Quantitats que l’empresa deu a la Hisenda Pública o a la Seguretat Social que no ha de pagar de forma immediata o les quantitats que han de cobrar els treballadors a final de cada mes.
VOCABULARY UNIT 2:
Put on (ponerse ropa):
She put on her coat and went out.
Realistic (realista):
Police have to be realistic about violent crime.
Rush (meter prisa):
They made a rush for the exit.
Spacecraft (nave espacial):
The spacecraft disintegrated as it entered the Earth’s atmosphere.
Speed (velocidad):
The car was travelling at a very slow speed.
Take off (despegar):
The plane will take off in a minute.
Tiny (diminuto):
The baby gripped my finger with her tiny hand.
Try out (probar):
She is raring to try out her new skates.
UFO (ovni):
I disbelieved reports of UFO sightings.
Underneath (debajo de ):
He got out of the car and looked underneath.
Use up (agotar)
Don’t use up all the milk, we need some for breakfast.
Voyage (viaje):
The voyage takes 6 months.
Warning (aviso):
The bridge collapsed without warning.
Weird (raro):
A really weird thing happened last night.
Well- deserved (bien merecido):
It had a great and well-deserved success.
Widespread (extendido):
There is widespread support for the new proposals.
Witness (testigo):
We have a witness to the killing.
Work out (encontrar):
I’m sure it’ll work out.
Worldwide (mundial):
The story has attracted worldwide attention.
Wrap up (envolver):
Remember to wrap up warmly on cold days.
Out of this world (fora de sèrie):
His idea is always out of this world.
Once in a blue moon (molt poques vegades):
That kind of chance comes once in a blue moon.
The sky is the limit (no hi ha límits):
The sky is the limit here as you decide how to handle this aspect for your own situation.
Stop chasing rainbows (no visquis d’ilusions):
Stop chasing rainbows and get a real job!
Shatter (trencar a trossos):
A failure would shatter the hopes of many people.
Unbearably (insuportablement):
It was unbearably hot in the car.
Blast (explosió):
A huge bomb blast rocked central London last night.
Parking space (plaça d’aparcament):
I couldn’t find a parking space near the shops.
Wipe out (eliminar):
Wipe out the bath before you use it.
Foil (paper d’alumini):
Cover the chicken with silver foil and bake.
Eventually (finalment):
The company eventually monopolized the entire cigarette industry.
Notice (avís):
They have pasted up a notice on the wall.
Abduct (secuestrar):
The company director was abducted from his car by terrorists.
Accurate (fiel):
It’s impossible to be accurate about these things.
Advance notice (avisar con antelación):
We need advance notice of the numbers involved.
Alien (extraterrestre):
Jim is an alien in this film.
Blow up (estallar):
Can you help me blow up these balloons?
Break down (estropearse):
It’s hard to break down old prejudices.
Call off (cancelar):
Greenpeace refused to call off the event.
Capable of (capaz de)
You are capable of better work than this.
Carry out (lleva a cabo)
You must carry out my orders.
Catch on (entender):
I wonder if the game will ever catch on with young people?
Collide with (chocar):
It was predicted that a comet would collide with one of the planets.
Crash into (estrellarse):
The inexperienced often crash into the coral, breaking and crushing it.
Creature (criatura):
Your dog’s a ferocious creature!
Crew (tripulación):
One of the crew fell overboard and drowned.
Drawback (inconveniente):
The main drawback to it is the cost.
Far- fetched (poco probable):
This is probably not far-fetched, as everyone employs various techniques before a fight.
Human being (ser humano):
Physical perfection in a human being is exceedingly rare.
Keep away (no acercarse):
People should keep away from the radioactive waste.
Last-minute (de última hora):
A last-minute blunder cost them the match.
Launch (lanzar):
They managed to launch on a new business.
Long-awaited (muy esperado):
For many, their long-awaited homecoming was a bitter disappointment.
Overcome (vencer):
Success grows out of struggles to overcome difficulties.
Phenomenon (fenómeno):
Gravity is a natural phenomenon.
Pick up (recoger):
Can you pick up the pen for me?
Put off (posponer):
Never put off until tomorrow what you can do today
Likely (probable):
Snow showers are likely tomorrow.
Aim (objectiu):
The chief aim of man is not to get money.
VOCABULARY UNIT 3:
On the job (treballant, a la feina)
Could you just concentrate on the job in hand?
Out of the job (sense feina):
I felt I was being pushed out of the job.
Starting salary (sou inicial):
My starting salary as a newly qualified teacher wasn’t enough to support a family.
Work well under pressure (treballar bé sota pressió):
Simon doesn’t work well under pressure.
People skills (habilitats socials):
Of course, you will have already acquired some people skills through an adhoc process of learning from experience.
Make a living (guanyar-se la vida):
If I can’t make a living at painting, at least I can teach someone else to paint.
Get paid peanuts (guanyar una misèria):
The hotel workers get paid peanuts .
Get sacked (fer fora de la feina):
They got sacked for breaking the rules.
Suburbs ( barri residencial):
The school is situated in the suburbs.
Home-made (casolà):
He used a clock to make a home-made bomb.
Pick up (recollir):
She bent down to pick up her glove.
Deliver (repartir):
We deliver the goods in batches.
Success (èxit):
Success grows out of struggles to overcome difficulties
Illiterate ( analfabet):
A surprising percentage of the population are illiterate.
Lid (tapa):
She used a chisel to prise off the lid.
Blistering heat (que crema):
We went out in the blistering heat.
Hub (centre, nucli):
Chicago is a hub of airline traffic.
Homesick (nostalgia):
He was homesick for Italy.
Make yourself at home (Sentir-se com a casa):Please feel free to make yourself at home.
Sort (ordenar):
The present conditions sort well with the workers.
Tray (safata):
He brought her breakfast in bed on a tray.
Split ( repartir):
Let’s split the cost right down the middle.
Evenly (a parts iguals):
Arrange the tomato slices evenly on the top.
Regardless of (Independentment de):
She always travels first-class regardless of expense.
Slack off ( treballar menys):
As soon as you start to slack off, their satisfaction and motivation decreases.
Earn (Gain money /Guanyar):
It has taken years to earn their trust.
Share (parte):
I share a bedroom with my sister.
Teamwork (trabajo en equipo):
Teamwork is a key feature of the training programme.
Value (valorar):
If you would know the value of money, go and try to borrow some.
Fire (despedir, echar del trabajo):
Alex and Josh left the fire together.
Good at multitasking (bueno haciendo varias cosas a la vez):
Women are traditionally supposed to be good at multitasking.
Shift (turno):
She’s on the night shift this week.
Minimum wage (salario minimo):
The president has proposed a hike in the minimum wage.
In charge of (responsable de):
The teacher is in charge of the class.
Fast learner (aprender muy rápido):
Richard is a fast learner and shrewd observer.
Dare(Atrevir-se):
He didn’t dare to speak to her.
Taka pride in- be proud (Estar orgullós):
I take pride in my work.
Take your time(Prendre’s el temps necessari):
Take your time there’s no rush.
Take for granted (saber valorar algo):
I think you take for granted how much you truly love the sport.
Take sides (ponerse en el lado de alguien):
We cannot take sides in a Civil War.
Take advantage of (aprofitarse):
Subscribers to the magazine can take advantage of this special offer.
Take initiative (tomar la iniciativa):
We must take the initiative in the struggle to end the war.
Run wild (estar descontrolat):
Those boys have been allowed to run wild.
Run short of (cuando te quedas sin nada):
I have run short of money.
Run an errand (ir a hacer un recado):
He often got me out of bed, late on an evening, to run an errand.
Run high (ésser alt):
Buyer interest in Pebble Beach has always run high.
Run the show (estar al mando):
We need to find someone to run the show .
Take a close look (revisar cuidadosamente algo):
Take a close look at this photograph.
Close friend (Amics intims):
She never was a close friend of mine.
Caretaker (conserge):
The caretaker stokes up twice a day.
Position (puesto de trabajo):
He was appointed to a position of trust .
Headmaster (Cap d’estudis):
Mr. Jones became headmaster last year.
Resign (Dimitir):
The embattled president had to resign.
Do shifts (fer torns de treball):
They do shifts to work at night.
Run a business (Portar un negoci):
Please teach me how to run a business.
Commute (Viajar diariament de casa a la feina):
People are prepared to commute long distances if they are desperate for work.
Field (campo de tierra):
The young animals were bounding about the field.
Rise (augment):
One may sooner fall than rise.
Job offer (oferta de feina):
I’m in a dilemma about this job offer.
Be job hunting (buscar feina):
Creating a resume is only one part of what’s necessary for successful job-hunting.
Land a job (aconseguir una feina):
Be prepared for lots of rejections before you land a job.
Be out of job / jobless (estar a l’atur):
He’s been jobless for the past six months.
Learn on the job (aprendre treballant):
The Department of Labor reports that most operators learn on the job.
Employee (empleado):
The employee was dismissed as incompetent.
Employer (jefe):
An employer should appraise the ability of his employees.
Hold down a job (conservar una feina):
He never could hold down a job.
Straightforward (persona honesta):
I think you’ll find it all quite straightforward.
Downside (desventaja):
The downside of living here, of course, is that it is expensive.
Blur (cuando una persona se convierte indiferente, q no le importa nada):
Everything is a blur when I take my glasses off.
Guarantee (garantitzar):
All our products come with a two-year guarantee.
Income (salario, ingressos):
Economy is itself a great income.
Like clockwork (puntualmente, segun lo previsto):
The party went like clockwork.
Pack (guardar, meter en):
I forgot to pack my razor.
Profit (beneficio):
Many receive advice only the wise profit by it.
Regardless of (sin tener en cuenta)
I’ll do it regardless of circumstances.
Qualification (requisito, título):
This qualification is the equivalent of a degree.