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One of these questions might be: Do I need an expert opinion for my business start-up?
Many founders encounter this term for the first time when applying for funding or inquiring about financial support from the employment agency.
The so-called expert opinion then serves as proof that your business plan is economically viable and has good prospects for success.
Below you will learn when an expert opinion is necessary, who is allowed to issue it and how you can best prepare for it.
What exactly is an expert opinion?
An expert opinion is a written assessment of your business start-up project by an expert or a recognized institution. Its aim is to examine the economic viability of your business idea.
Among other things, she confirms that:
- your business model seems realistic,
- your financial planning is comprehensible,
- you possess sufficient expert knowledge,
- your self-employment is likely to be sustainable in the long term.
The expert opinion is usually based on your business plan, sales and profitability forecast, and other documents such as your CV or qualification certificates.
In which cases do you need an expert opinion?
In the following cases, a "load-bearing capacity certificate" from an expert body is usually required:
- If you are unemployed or about to become unemployed and want to become self-employed full-time, you can receive financial support from the employment agency in the form of a start-up grant under certain conditions .
- As a recipient of citizen's income, you may be eligible for start-up funding if you want to become self-employed.
- If you want to apply for a start-up grant in Mecklenburg -Western Pomerania, you may need to demonstrate the innovative nature of your project through an expert opinion. This opinion must come from a university or another suitable expert institution.
Furthermore, an expert opinion can also be beneficial if you want to convince investors, banks, or potential business partners. An assessment from a neutral expert body often increases the credibility of your project.
If you are unsure whether you need an expert opinion, you should inquire with the relevant funding agency early on. This will help you avoid delays in the application process.
Who is authorized to issue the expert opinion?
Not just anyone is authorized to issue an expert opinion. The Federal Employment Agency and other funding bodies only accept so-called expert bodies.
These include, among others:
- Chambers of Industry and Commerce (IHK)
- Chambers of Skilled Crafts (HWK)
- Tax advisors
- Management consultants
- Banks and savings banks
- Trade associations
- Certain business incubators.
Which organization is best for you depends on your industry and your plans. For example, if you want to start a craft business, the Chamber of Skilled Crafts is the obvious choice, while for commercial or digital business models, the Chamber of Industry and Commerce (IHK) is more suitable.
Many founders opt for business consultants, as these often offer additional support in creating the business plan. They may also choose tax advisors, who will later manage the company.
It's important that the consultant has experience with business start-ups and is recognized by the relevant funding institution.
Note: While you can choose which organization you obtain the expert opinion from, some employment agencies or job centers prefer certain organizations (e.g., Chambers of Industry and Commerce or Chambers of Skilled Crafts) or scrutinize the issuing individual's expertise more closely. If costs are incurred by the expert organization, the employment agency or job center is not obligated to reimburse them.
Therefore, it's advisable to ask your employment advisor beforehand if they have any preferences.
What documents do you need?
In order for an expert body to assess your project, you will of course need meaningful documentation, namely:
- the business plan
with a detailed description of your business idea, your target group, the market, your competitors and your strategy. - Financial planning includes
sales forecasts
, cost planning
, liquidity planning
, capital requirements and
profitability forecast. - CV and qualifications:
Your personal suitability also plays an important role. Professional experience, further training, or industry-specific knowledge strengthen your chances. - Further evidence
Depending on the industry, additional documents may be required, for example:
- Lease agreements
- Business licenses
- Certificates
- Cooperation agreements.
Preparation is everything!
An expert opinion is not just a formality. The reviewing body critically assesses whether your concept appears realistic and viable.
Therefore, you should prepare thoroughly. Above all, your business plan should be convincing, and your financial plan should realistically present all cost items.
But your personal motivation is just as important! Because if you credibly convey why you want to start a business and what skills you bring to the table, your project will appear significantly more convincing!
Why expert opinions are more than just bureaucracy
Even though an expert opinion may initially seem like an additional hurdle, it actually offers advantages.
Because:
You have to engage with your business idea in a structured way.
The intensive examination of your project helps you identify weaknesses early on.
You receive valuable feedback from experienced experts. An expert assessment can help you avoid typical mistakes and make your planning more realistic.
Furthermore, a positive opinion often improves your position with banks, funding agencies, or potential business partners. This is because it signals that your concept has been professionally reviewed and appears economically viable.
Therefore, if you are planning to start your own business, you shouldn't just see the expert opinion as an obligation.
Rather, use it as an opportunity to critically examine your project and be optimally prepared for launching your own business.
