Tag Archives: Mozes Konig

Banking for Small Business Owners

When you start a new business, accessing capital is often the first – and biggest – hurdle.  But there are some tried and tested ways of working this out.  Here, we take a look at some of the steps to follow that can help this.

Mozes Konig – a businessman who some years ago had some problems with Interpol which he then resolved – has worked with many startups and small businesses securing loans.  He has gone through a lot of the obstacles with them and is thus able to advise others on avoiding these pitfalls.

“I think one of the most important things to do – before anything else – is making a clear separation between private and business funds. The way you do this is by creating a brand new business checking account,” Konig said.  “It just makes things simpler and all monies become more easily manageable. You get a far clearer picture on your monthly expenses, incomings and outgoings as well as a clear visual on payment processes.”

The next thing to do is to choose which type of financing will work best for your needs.  There are so many around.  Probably the most popular is a term loan  (whereby you get all the money in the beginning and then pay back with interest over a set time) but that isn’t best for everyone. For example, some of these require a guarantee like some asset.  Sometimes the interest rates are extremely high, especially those with online lenders.  It is however a pretty good option for businesses that are not so new to everything and are just looking to expand, not to get off the ground. Obviously it’s important but always good to remind, read the fine print!

Some other options include: commercial mortgage, unsecured business loan, Small Business Administration (SBAs) loans, invoice factoring and merchant cash advances.

What if Technology Could Cure the Healthcare System?

The healthcare system in America has – for way too many years – exceeded its GDP.  Currently it has gone over by a staggering 18 percent.  Such financial distress on the system results in all kinds of problems, many of which were seen during the coronavirus pandemic of 2020.

Mozes Konig believes in making substantial investments – via technology – in the healthcare industry as that could result in some relief.  “Given that whatever healthcare financial mess America is in has a trickle down effect globally, it is high time the issue was dealt with,” he said.

Healthcare in America is indeed a business, being the nation’s largest employer. But it is oppressively expensive and thus needs to be transformed into a marketplace not dissimilar to how Amazon is set up. This way people will get services they can choose from vis-à-vis physicians, insurance, treatments and more.   There is a very real technological challenge involved in achieving this due to the country’s uncodified medical databases, but if the technology is developed it could be a game changer.

Mozes Konig – who in the past had to work out some issues with Interpol – believes that this kind of medical technology could be one of the best investments anyone could make right now.

European Investments: Booming Biotech

Biotech is becoming an increasingly popular investment choice. The coronavirus pandemic has actually created more potential in this field. Mozes Victor Konig – a businessman who has made substantial investments in the industry – has seen a significant uptake in the field himself.   He explained:

“What you have to realize is that this industry really needs the capital because invariably such biotechnological firms require a lot of money to even be able to consider approaching the FDA for approval.”

Konig – who had some trouble with Interpol some years ago which he has now put behind him – particularly likes this industry as he describes it as “exciting, innovative and really helpful to potentially thousands of people.”

In Italy we are now witnessing a boom with biotech too.  One example of this is the recent announcement from Sofinnova Partners (life sciences Paris-based VC firm) of its upcoming investments in three startups via its Sofinnova Telethon Fund (Italy’s largest fund solely dedicated to biotechnology). These companies are: AAVantgarde Bio, Alia Therapeutics and Borea Therapeutics all of which are in the process of creating therapies that could really help with rare genetic diseases.

These three seed investments total €6M and are in line with Sofinnova Telethon Fund’s strategy of working with cutting edge Italian scientists and successful entrepreneurs in an effort to create high-end companies in the genetic disease section of biotechnology.

Potential investors, says Konig: don’t bypass the biotech industry; it’s a great way forward for many reasons.