{"id":62654,"date":"2024-02-19T14:27:51","date_gmt":"2024-02-19T05:27:51","guid":{"rendered":"https:\/\/monolith.law\/ro\/?p=62654"},"modified":"2024-02-28T11:11:32","modified_gmt":"2024-02-28T02:11:32","slug":"method-of-raising-funds-for-stock-company","status":"publish","type":"post","link":"https:\/\/monolith.law\/ro\/general-corporate\/method-of-raising-funds-for-stock-company","title":{"rendered":"Ce sunt metodele de finan\u021bare a unei societ\u0103\u021bi pe ac\u021biuni? Explica\u021bii cuprinz\u0103toare, inclusiv alte metode dec\u00e2t majorarea de capital prin alocare c\u0103tre ter\u021bi"},"content":{"rendered":"\n<p>Cred c\u0103 adesea se imagineaz\u0103 c\u0103 metoda prin care societ\u0103\u021bile pe ac\u021biuni, cum ar fi companiile de tip start-up, str\u00e2ng fonduri este prin emiterea de ac\u021biuni ale companiei lor dup\u0103 ce au primit investi\u021bii de la investitori precum VC. Cu toate acestea, exist\u0103 multe alte metode prin care companiile de tip start-up pot str\u00e2nge fonduri, \u00een afara metodei de a primi investi\u021bii \u0219i a emite ac\u021biuni. Prin urmare, \u00een acest articol, voi explica metodele de str\u00e2ngere de fonduri pentru societ\u0103\u021bile pe ac\u021biuni.<\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_53 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<span class=\"ez-toc-title-toggle\"><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/monolith.law\/ro\/general-corporate\/method-of-raising-funds-for-stock-company\/#Metode_posibile_de_finantare\" title=\"Metode posibile de finan\u021bare\">Metode posibile de finan\u021bare<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/monolith.law\/ro\/general-corporate\/method-of-raising-funds-for-stock-company\/#Despre_finantarea_activelor_Asset_finance\" title=\"Despre finan\u021barea activelor (Asset finance)\">Despre finan\u021barea activelor (Asset finance)<\/a><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/monolith.law\/ro\/general-corporate\/method-of-raising-funds-for-stock-company\/#Avantajele_finantarii_activelor\" title=\"Avantajele finan\u021b\u0103rii activelor\">Avantajele finan\u021b\u0103rii activelor<\/a><ul class='ez-toc-list-level-4'><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/monolith.law\/ro\/general-corporate\/method-of-raising-funds-for-stock-company\/#Costurile_de_finantare_pot_fi_reduse\" title=\"Costurile de finan\u021bare pot fi reduse\">Costurile de finan\u021bare pot fi reduse<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/monolith.law\/ro\/general-corporate\/method-of-raising-funds-for-stock-company\/#Poate_creste_valoarea_companiei\" title=\"Poate cre\u0219te valoarea companiei\">Poate cre\u0219te valoarea companiei<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/monolith.law\/ro\/general-corporate\/method-of-raising-funds-for-stock-company\/#Dezavantajele_finantarii_activelor\" title=\"Dezavantajele finan\u021b\u0103rii activelor\">Dezavantajele finan\u021b\u0103rii activelor<\/a><ul class='ez-toc-list-level-4'><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/monolith.law\/ro\/general-corporate\/method-of-raising-funds-for-stock-company\/#Nu_se_poate_realiza_daca_nu_exista_active_care_pot_fi_transformate_in_bani\" title=\"Nu se poate realiza dac\u0103 nu exist\u0103 active care pot fi transformate \u00een bani\">Nu se poate realiza dac\u0103 nu exist\u0103 active care pot fi transformate \u00een bani<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/monolith.law\/ro\/general-corporate\/method-of-raising-funds-for-stock-company\/#Este_dificil_sa_selectati_activele_care_pot_fi_transformate_in_bani\" title=\"Este dificil s\u0103 selecta\u021bi activele care pot fi transformate \u00een bani\">Este dificil s\u0103 selecta\u021bi activele care pot fi transformate \u00een bani<\/a><\/li><\/ul><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/monolith.law\/ro\/general-corporate\/method-of-raising-funds-for-stock-company\/#Despre_finantarea_prin_imprumut_Debt_finance\" title=\"Despre finan\u021barea prin \u00eemprumut (Debt finance)\">Despre finan\u021barea prin \u00eemprumut (Debt finance)<\/a><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/monolith.law\/ro\/general-corporate\/method-of-raising-funds-for-stock-company\/#Avantajele_finantarii_prin_imprumut\" title=\"Avantajele finan\u021b\u0103rii prin \u00eemprumut\">Avantajele finan\u021b\u0103rii prin \u00eemprumut<\/a><ul class='ez-toc-list-level-4'><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/monolith.law\/ro\/general-corporate\/method-of-raising-funds-for-stock-company\/#Nu_exista_fluctuatii_in_proportia_de_actiuni_deci_nu_exista_impact_asupra_drepturilor_de_administrare\" title=\"Nu exist\u0103 fluctua\u021bii \u00een propor\u021bia de ac\u021biuni, deci nu exist\u0103 impact asupra drepturilor de administrare\">Nu exist\u0103 fluctua\u021bii \u00een propor\u021bia de ac\u021biuni, deci nu exist\u0103 impact asupra drepturilor de administrare<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/monolith.law\/ro\/general-corporate\/method-of-raising-funds-for-stock-company\/#Exista_posibilitatea_de_a_obtine_credit\" title=\"Exist\u0103 posibilitatea de a ob\u021bine credit\">Exist\u0103 posibilitatea de a ob\u021bine credit<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/monolith.law\/ro\/general-corporate\/method-of-raising-funds-for-stock-company\/#Se_poate_astepta_la_un_efect_de_economisire_a_impozitelor\" title=\"Se poate a\u0219tepta la un efect de economisire a impozitelor\">Se poate a\u0219tepta la un efect de economisire a impozitelor<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/monolith.law\/ro\/general-corporate\/method-of-raising-funds-for-stock-company\/#Este_usor_sa_stranga_fonduri\" title=\"Este u\u0219or s\u0103 str\u00e2ng\u0103 fonduri\">Este u\u0219or s\u0103 str\u00e2ng\u0103 fonduri<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/monolith.law\/ro\/general-corporate\/method-of-raising-funds-for-stock-company\/#Dezavantajele_finantarii_prin_imprumut\" title=\"Dezavantajele finan\u021b\u0103rii prin \u00eemprumut\">Dezavantajele finan\u021b\u0103rii prin \u00eemprumut<\/a><ul class='ez-toc-list-level-4'><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/monolith.law\/ro\/general-corporate\/method-of-raising-funds-for-stock-company\/#Datoria_creste_in_bilant\" title=\"Datoria cre\u0219te \u00een bilan\u021b\">Datoria cre\u0219te \u00een bilan\u021b<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/monolith.law\/ro\/general-corporate\/method-of-raising-funds-for-stock-company\/#Exista_necesitatea_de_a_rambursa\" title=\"Exist\u0103 necesitatea de a rambursa\">Exist\u0103 necesitatea de a rambursa<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-18\" href=\"https:\/\/monolith.law\/ro\/general-corporate\/method-of-raising-funds-for-stock-company\/#Exista_necesitatea_de_a_plati_dobanda\" title=\"Exist\u0103 necesitatea de a pl\u0103ti dob\u00e2nda\">Exist\u0103 necesitatea de a pl\u0103ti dob\u00e2nda<\/a><\/li><\/ul><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-19\" href=\"https:\/\/monolith.law\/ro\/general-corporate\/method-of-raising-funds-for-stock-company\/#Despre_finantarea_prin_capital_propriu_Equity_finance\" title=\"Despre finan\u021barea prin capital propriu (Equity finance)\">Despre finan\u021barea prin capital propriu (Equity finance)<\/a><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-20\" href=\"https:\/\/monolith.law\/ro\/general-corporate\/method-of-raising-funds-for-stock-company\/#Avantajele_finantarii_prin_capital_propriu\" title=\"Avantajele finan\u021b\u0103rii prin capital propriu\">Avantajele finan\u021b\u0103rii prin capital propriu<\/a><ul class='ez-toc-list-level-4'><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-21\" href=\"https:\/\/monolith.law\/ro\/general-corporate\/method-of-raising-funds-for-stock-company\/#Nu_este_necesar_sa_platiti_dobanda\" title=\"Nu este necesar s\u0103 pl\u0103ti\u021bi dob\u00e2nd\u0103\">Nu este necesar s\u0103 pl\u0103ti\u021bi dob\u00e2nd\u0103<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-22\" href=\"https:\/\/monolith.law\/ro\/general-corporate\/method-of-raising-funds-for-stock-company\/#Nu_este_necesar_sa_rambursati\" title=\"Nu este necesar s\u0103 rambursa\u021bi\">Nu este necesar s\u0103 rambursa\u021bi<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-23\" href=\"https:\/\/monolith.law\/ro\/general-corporate\/method-of-raising-funds-for-stock-company\/#Poate_consolida_structura_financiara_prin_cresterea_capitalului\" title=\"Poate consolida structura financiar\u0103 prin cre\u0219terea capitalului\">Poate consolida structura financiar\u0103 prin cre\u0219terea capitalului<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-24\" href=\"https:\/\/monolith.law\/ro\/general-corporate\/method-of-raising-funds-for-stock-company\/#Dezavantajele_finantarii_prin_capital_propriu\" title=\"Dezavantajele finan\u021b\u0103rii prin capital propriu\">Dezavantajele finan\u021b\u0103rii prin capital propriu<\/a><ul class='ez-toc-list-level-4'><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-25\" href=\"https:\/\/monolith.law\/ro\/general-corporate\/method-of-raising-funds-for-stock-company\/#Poate_avea_un_impact_asupra_drepturilor_de_administrare\" title=\"Poate avea un impact asupra drepturilor de administrare\">Poate avea un impact asupra drepturilor de administrare<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-26\" href=\"https:\/\/monolith.law\/ro\/general-corporate\/method-of-raising-funds-for-stock-company\/#Poate_fi_dificil_sa_strangeti_fonduri_cu_usurinta\" title=\"Poate fi dificil s\u0103 str\u00e2nge\u021bi fonduri cu u\u0219urin\u021b\u0103\">Poate fi dificil s\u0103 str\u00e2nge\u021bi fonduri cu u\u0219urin\u021b\u0103<\/a><\/li><\/ul><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-27\" href=\"https:\/\/monolith.law\/ro\/general-corporate\/method-of-raising-funds-for-stock-company\/#Concluzie\" title=\"Concluzie\">Concluzie<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Metode_posibile_de_finantare\"><\/span>Metode posibile de finan\u021bare<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>\u00cen ceea ce prive\u0219te metodele posibile de finan\u021bare, acestea pot fi \u00eemp\u0103r\u021bite \u00een principal \u00een urm\u0103toarele categorii:<\/p>\n\n\n\n<ul>\n<li> Metoda de finan\u021bare prin v\u00e2nzarea sau alte mijloace ale activelor unei corpora\u021bii (Finan\u021bare prin active)<\/li>\n\n\n\n<li> Metoda de finan\u021bare prin \u00eemprumuturi de bani (Finan\u021bare prin datorie)<\/li>\n\n\n\n<li> Metoda de finan\u021bare prin investi\u021bii de la investitori precum VC (Finan\u021bare prin capital propriu)<\/li>\n<\/ul>\n\n\n\n<p><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Despre_finantarea_activelor_Asset_finance\"><\/span>Despre finan\u021barea activelor (Asset finance)<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/monolith.law\/wp-content\/uploads\/2020\/01\/shutterstock_1220527444-1024x683.jpg\" alt=\"\" class=\"wp-image-6838\" \/><figcaption class=\"wp-element-caption\">Care sunt avantajele \u0219i dezavantajele finan\u021b\u0103rii activelor?<\/figcaption><\/figure>\n\n\n\n<p>Finan\u021barea activelor se refer\u0103 la metoda prin care societ\u0103\u021bile pe ac\u021biuni, cum ar fi startup-urile, \u00ee\u0219i finan\u021beaz\u0103 activit\u0103\u021bile prin v\u00e2nzarea sau alte metode de valorificare a activelor lor. Activele care pot fi luate \u00een considerare pentru v\u00e2nzare \u00een cadrul finan\u021b\u0103rii activelor includ imobiliare, titluri valoroase, stocuri de m\u0103rfuri, crean\u021be de la clien\u021bi, echipamente \u0219i ma\u0219ini, drepturi de autor sau brevete.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Avantajele_finantarii_activelor\"><\/span>Avantajele finan\u021b\u0103rii activelor<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Costurile_de_finantare_pot_fi_reduse\"><\/span>Costurile de finan\u021bare pot fi reduse<span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p>Unul dintre avantajele finan\u021b\u0103rii activelor este c\u0103 poate reduce costurile de finan\u021bare. Atunci c\u00e2nd vinde\u021bi active, nu exist\u0103 costuri mari asociate cu v\u00e2nzarea, astfel \u00eenc\u00e2t pute\u021bi reduce \u00een final costurile de finan\u021bare.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Poate_creste_valoarea_companiei\"><\/span>Poate cre\u0219te valoarea companiei<span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p>Un alt avantaj al finan\u021b\u0103rii activelor este c\u0103, \u00een bilan\u021bul de \u00eenchiriere, pute\u021bi reduce activele vizate \u0219i pute\u021bi cre\u0219te numerarul \u0219i depozitele. Acest lucru poate cre\u0219te valoarea companiei.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Dezavantajele_finantarii_activelor\"><\/span>Dezavantajele finan\u021b\u0103rii activelor<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Nu_se_poate_realiza_daca_nu_exista_active_care_pot_fi_transformate_in_bani\"><\/span>Nu se poate realiza dac\u0103 nu exist\u0103 active care pot fi transformate \u00een bani<span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p>Un dezavantaj al finan\u021b\u0103rii activelor este c\u0103 nu se poate realiza dac\u0103 nu exist\u0103 active care pot fi transformate \u00een bani. Prin urmare, pentru startup-uri \u0219i alte companii cu pu\u021bine active, acesta poate fi o metod\u0103 dificil\u0103 de a ob\u021bine finan\u021bare.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Este_dificil_sa_selectati_activele_care_pot_fi_transformate_in_bani\"><\/span>Este dificil s\u0103 selecta\u021bi activele care pot fi transformate \u00een bani<span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p>De asemenea, dac\u0103 v\u0103 concentra\u021bi prea mult pe ob\u021binerea de finan\u021bare, exist\u0103 posibilitatea s\u0103 vinde\u021bi active care nu ar trebui v\u00e2ndute. Prin urmare, atunci c\u00e2nd realiza\u021bi finan\u021barea activelor, trebuie s\u0103 examina\u021bi cu aten\u021bie dac\u0103 exist\u0103 active care pot fi v\u00e2ndute \u0219i, dac\u0103 exist\u0103, dac\u0103 sunt cu adev\u0103rat active care pot fi v\u00e2ndute.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Despre_finantarea_prin_imprumut_Debt_finance\"><\/span>Despre finan\u021barea prin \u00eemprumut (Debt finance)<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Finan\u021barea prin \u00eemprumut se refer\u0103 la str\u00e2ngerea de fonduri prin datorii (Debt), cum ar fi \u00eemprumuturile de la b\u0103nci sau emiterea de obliga\u021biuni. Emiterea de \u00eemprumuturi sindicalizate sau obliga\u021biuni private sunt, de asemenea, exemple de finan\u021bare prin \u00eemprumut.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Avantajele_finantarii_prin_imprumut\"><\/span>Avantajele finan\u021b\u0103rii prin \u00eemprumut<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Avantajele finan\u021b\u0103rii prin \u00eemprumut pot include urm\u0103toarele aspecte:<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Nu_exista_fluctuatii_in_proportia_de_actiuni_deci_nu_exista_impact_asupra_drepturilor_de_administrare\"><\/span>Nu exist\u0103 fluctua\u021bii \u00een propor\u021bia de ac\u021biuni, deci nu exist\u0103 impact asupra drepturilor de administrare<span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p>\u00cen finan\u021barea prin capital (Equity finance), pe care o vom explica mai t\u00e2rziu, emiterea de ac\u021biuni poate duce la fluctua\u021bii \u00een propor\u021bia de ac\u021biuni, ceea ce poate avea un impact asupra drepturilor de administrare. Pe de alt\u0103 parte, \u00een finan\u021barea prin \u00eemprumut, str\u00e2ngerea de fonduri se face prin datorii, deci nu exist\u0103 fluctua\u021bii \u00een propor\u021bia de ac\u021biuni \u0219i nu exist\u0103 impact asupra drepturilor de administrare. Pentru management, acest lucru \u00eenseamn\u0103 c\u0103 pot conduce liber compania f\u0103r\u0103 a fi afecta\u021bi de str\u00e2ngerea de fonduri, ceea ce este un avantaj al finan\u021b\u0103rii prin \u00eemprumut.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Exista_posibilitatea_de_a_obtine_credit\"><\/span>Exist\u0103 posibilitatea de a ob\u021bine credit<span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p>Finan\u021barea prin \u00eemprumut implic\u0103 str\u00e2ngerea de fonduri prin datorii, deci, desigur, compania trebuie s\u0103 ramburseze. Dac\u0103 datoria contractat\u0103 prin finan\u021barea prin \u00eemprumut este rambursat\u0103 \u00een mod corespunz\u0103tor, aceasta poate duce la ob\u021binerea de credit pentru companie. Ca rezultat, este posibil ca evaluarea s\u0103 fie mai u\u0219oar\u0103 atunci c\u00e2nd se solicit\u0103 un \u00eemprumut mare de la o institu\u021bie financiar\u0103, ceea ce este un avantaj pentru companie.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Se_poate_astepta_la_un_efect_de_economisire_a_impozitelor\"><\/span>Se poate a\u0219tepta la un efect de economisire a impozitelor<span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p>\u00cen finan\u021barea prin \u00eemprumut, este normal s\u0103 se pl\u0103teasc\u0103 dob\u00e2nda c\u0103tre furnizorul de fonduri. Dob\u00e2nda pl\u0103tit\u0103 \u00een timpul finan\u021b\u0103rii prin \u00eemprumut poate fi tratat\u0103 ca o cheltuial\u0103 \u00een contabilitate, deci se poate a\u0219tepta la o reducere a impozitelor, ceea ce este un avantaj pentru companie din punct de vedere fiscal.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Este_usor_sa_stranga_fonduri\"><\/span>Este u\u0219or s\u0103 str\u00e2ng\u0103 fonduri<span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p>\u00cen primul r\u00e2nd, din perspectiva celor care furnizeaz\u0103 fonduri, ei pot evalua suma de bani pe care o vor oferi pe baza creditului companiei, deci pot str\u00e2nge fonduri f\u0103r\u0103 a lua un risc mare.<br>Datorit\u0103 acestui fapt, decizia de a furniza fonduri este u\u0219or de luat de c\u0103tre cei care furnizeaz\u0103 fonduri, iar compania poate g\u0103si u\u0219or furnizori de fonduri. Prin urmare, \u00een finan\u021barea prin \u00eemprumut, este u\u0219or s\u0103 str\u00e2ng\u0103 fonduri, ceea ce este un avantaj al finan\u021b\u0103rii prin \u00eemprumut.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Dezavantajele_finantarii_prin_imprumut\"><\/span>Dezavantajele finan\u021b\u0103rii prin \u00eemprumut<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Datoria_creste_in_bilant\"><\/span>Datoria cre\u0219te \u00een bilan\u021b<span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p>Dup\u0103 cum am explicat mai sus, finan\u021barea prin \u00eemprumut poate duce la economisirea impozitelor, dar, pe de alt\u0103 parte, datoria cre\u0219te \u00een bilan\u021b. \u00centr-o m\u0103sur\u0103 mai mare sau mai mic\u0103, companiile au datorii, dar dac\u0103 propor\u021bia datoriilor devine prea mare, poate p\u0103rea c\u0103 gestionarea companiei nu merge bine din punct de vedere numeric. Prin urmare, cre\u0219terea datoriilor \u00een bilan\u021b prin finan\u021barea prin \u00eemprumut este un dezavantaj al finan\u021b\u0103rii prin \u00eemprumut.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Exista_necesitatea_de_a_rambursa\"><\/span>Exist\u0103 necesitatea de a rambursa<span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p>\u00cen finan\u021barea prin capital, pe care o vom explica mai t\u00e2rziu, compania prime\u0219te fonduri sub form\u0103 de investi\u021bii, nu de \u00eemprumuturi. Prin urmare, de\u0219i exist\u0103 posibilitatea de a distribui dividende sau de a distribui proprietatea rezidual\u0103 \u00een cazul lichid\u0103rii companiei, nu este necesar s\u0103 se ramburseze banii primi\u021bi. \u00cen contrast, finan\u021barea prin \u00eemprumut este un \u00eemprumut, nu o investi\u021bie, deci este necesar s\u0103 se ramburseze fondurile primite. Acesta este un dezavantaj pentru companie.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Exista_necesitatea_de_a_plati_dobanda\"><\/span>Exist\u0103 necesitatea de a pl\u0103ti dob\u00e2nda<span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p>\u00cen mod normal, pentru datoriile contractate prin finan\u021barea prin \u00eemprumut, trebuie s\u0103 se pl\u0103teasc\u0103 dob\u00e2nda. Prin urmare, este necesar s\u0103 se pl\u0103teasc\u0103 mai mul\u021bi bani dec\u00e2t suma de bani str\u00e2ns\u0103 ca dob\u00e2nd\u0103. Acesta este un dezavantaj pentru companie.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Despre_finantarea_prin_capital_propriu_Equity_finance\"><\/span>Despre finan\u021barea prin capital propriu (Equity finance)<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/monolith.law\/wp-content\/uploads\/2020\/01\/shutterstock_313380698-1024x683.jpg\" alt=\"\" class=\"wp-image-6839\" \/><figcaption class=\"wp-element-caption\">\u00cen continuare, vom explica despre finan\u021barea prin capital propriu.<\/figcaption><\/figure>\n\n\n\n<p>Finan\u021barea prin capital propriu se refer\u0103 la procesul prin care o societate pe ac\u021biuni emite noi ac\u021biuni \u0219i le aloc\u0103 investitorilor, cum ar fi fondurile de capital de risc (VC), pentru a str\u00e2nge fonduri. Principalele metode de finan\u021bare prin capital propriu includ ofertele publice, major\u0103rile de capital prin alocare c\u0103tre ac\u021bionari, major\u0103rile de capital prin alocare c\u0103tre ter\u021bi \u0219i emiterea de obliga\u021biuni convertibile cu op\u021biuni de cump\u0103rare de ac\u021biuni noi.<\/p>\n\n\n\n<p><a href=\"https:\/\/monolith.law\/corporate\/investment-contract-shares-provision\" target=\"_blank\" rel=\"noreferrer noopener\">https:\/\/monolith.law\/corporate\/investment-contract-shares-provision[ja]<\/a><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Avantajele_finantarii_prin_capital_propriu\"><\/span>Avantajele finan\u021b\u0103rii prin capital propriu<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Nu_este_necesar_sa_platiti_dobanda\"><\/span>Nu este necesar s\u0103 pl\u0103ti\u021bi dob\u00e2nd\u0103<span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p>\u00cen cazul finan\u021b\u0103rii prin capital propriu, nu primi\u021bi un \u00eemprumut de fonduri, deci nu este necesar s\u0103 pl\u0103ti\u021bi dob\u00e2nd\u0103. Dac\u0103 trebuie s\u0103 pl\u0103ti\u021bi dob\u00e2nd\u0103, acest lucru poate duce la costuri ridicate de finan\u021bare pentru o societate pe ac\u021biuni. Prin urmare, faptul c\u0103 nu este necesar s\u0103 pl\u0103ti\u021bi dob\u00e2nd\u0103 poate fi considerat un avantaj al finan\u021b\u0103rii prin capital propriu.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Nu_este_necesar_sa_rambursati\"><\/span>Nu este necesar s\u0103 rambursa\u021bi<span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p>\u00cen cazul finan\u021b\u0103rii prin capital propriu, nu primi\u021bi un \u00eemprumut de fonduri, deci nu este necesar s\u0103 rambursa\u021bi fondurile str\u00e2nse. Faptul c\u0103 nu este necesar s\u0103 rambursa\u021bi fondurile \u00eenseamn\u0103 c\u0103 o societate pe ac\u021biuni poate p\u0103stra activele, ceea ce poate fi considerat un avantaj al finan\u021b\u0103rii prin capital propriu.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Poate_consolida_structura_financiara_prin_cresterea_capitalului\"><\/span>Poate consolida structura financiar\u0103 prin cre\u0219terea capitalului<span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p>\u00cen cazul finan\u021b\u0103rii prin datorie, a\u0219a cum am explicat mai sus, datoriile cresc \u00een bilan\u021b. \u00cen cazul finan\u021b\u0103rii prin capital propriu, fondurile str\u00e2nse devin capitalul societ\u0103\u021bii pe ac\u021biuni, ceea ce poate consolida structura financiar\u0103 \u0219i poate face ca societatea s\u0103 par\u0103 s\u0103 se descurce bine. Acest lucru poate cre\u0219te \u00eencrederea \u00een companie din partea partenerilor de afaceri \u0219i a institu\u021biilor financiare. Prin urmare, consolidarea structurii financiare poate fi considerat\u0103 un avantaj al finan\u021b\u0103rii prin capital propriu.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Dezavantajele_finantarii_prin_capital_propriu\"><\/span>Dezavantajele finan\u021b\u0103rii prin capital propriu<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Poate_avea_un_impact_asupra_drepturilor_de_administrare\"><\/span>Poate avea un impact asupra drepturilor de administrare<span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p>\u00cen cazul finan\u021b\u0103rii prin capital propriu, este necesar s\u0103 emite\u021bi ac\u021biuni etc. c\u0103tre investitori, cum ar fi fondurile de capital de risc. Acest lucru poate duce la modificarea propor\u021biei de de\u021binere a ac\u021biunilor, ceea ce poate avea un impact asupra drepturilor de administrare. Acesta poate fi considerat un dezavantaj al finan\u021b\u0103rii prin capital propriu.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Poate_fi_dificil_sa_strangeti_fonduri_cu_usurinta\"><\/span>Poate fi dificil s\u0103 str\u00e2nge\u021bi fonduri cu u\u0219urin\u021b\u0103<span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p>\u00cen cazul str\u00e2ngerii de fonduri prin finan\u021bare prin capital propriu, cei care furnizeaz\u0103 fonduri o fac sub form\u0103 de investi\u021bii, nu de \u00eemprumuturi. Acest lucru \u00eenseamn\u0103 c\u0103 trebuie s\u0103 se ia \u00een considerare riscurile asociate cu investi\u021bia, ceea ce poate duce la o oferire mai pu\u021bin u\u0219oar\u0103 a fondurilor. Ca rezultat, pentru cei care primesc fonduri, poate fi mai dificil s\u0103 str\u00e2ng\u0103 fonduri cu u\u0219urin\u021b\u0103, ceea ce poate fi considerat un dezavantaj al finan\u021b\u0103rii prin capital propriu.<\/p>\n\n\n\n<p><a href=\"https:\/\/monolith.law\/corporate\/investment-contract-and-shareholder-agreement\" target=\"_blank\" rel=\"noreferrer noopener\">https:\/\/monolith.law\/corporate\/investment-contract-and-shareholder-agreement[ja]<\/a><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Concluzie\"><\/span>Concluzie<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Am explicat mai sus despre metodele de finan\u021bare pentru o societate pe ac\u021biuni. Pentru o societate pe ac\u021biuni, fluxul de numerar este o problem\u0103 foarte important\u0103. Prin urmare, este esen\u021bial s\u0103 alege\u021bi metoda de finan\u021bare potrivit\u0103 prezentat\u0103 \u00een acest articol \u0219i s\u0103 realiza\u021bi finan\u021barea. Fiecare metod\u0103 de finan\u021bare are avantaje \u0219i dezavantaje, deci este important s\u0103 \u00een\u021belege\u021bi bine avantajele \u0219i dezavantajele fiec\u0103rei metode de finan\u021bare. Dac\u0103 ave\u021bi nel\u0103muriri cu privire la metodele de finan\u021bare, v\u0103 recomand\u0103m s\u0103 consulta\u021bi un expert, cum ar fi un avocat.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Cred c\u0103 adesea se imagineaz\u0103 c\u0103 metoda prin care societ\u0103\u021bile pe ac\u021biuni, cum ar fi companiile de tip start-up, str\u00e2ng fonduri este prin emiterea de ac\u021biuni ale companiei lor dup\u0103 ce au primit investi\u021b [&hellip;]<\/p>\n","protected":false},"author":32,"featured_media":64385,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[18],"tags":[24,28],"acf":[],"_links":{"self":[{"href":"https:\/\/monolith.law\/ro\/wp-json\/wp\/v2\/posts\/62654"}],"collection":[{"href":"https:\/\/monolith.law\/ro\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/monolith.law\/ro\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/monolith.law\/ro\/wp-json\/wp\/v2\/users\/32"}],"replies":[{"embeddable":true,"href":"https:\/\/monolith.law\/ro\/wp-json\/wp\/v2\/comments?post=62654"}],"version-history":[{"count":2,"href":"https:\/\/monolith.law\/ro\/wp-json\/wp\/v2\/posts\/62654\/revisions"}],"predecessor-version":[{"id":64386,"href":"https:\/\/monolith.law\/ro\/wp-json\/wp\/v2\/posts\/62654\/revisions\/64386"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/monolith.law\/ro\/wp-json\/wp\/v2\/media\/64385"}],"wp:attachment":[{"href":"https:\/\/monolith.law\/ro\/wp-json\/wp\/v2\/media?parent=62654"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/monolith.law\/ro\/wp-json\/wp\/v2\/categories?post=62654"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/monolith.law\/ro\/wp-json\/wp\/v2\/tags?post=62654"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}