One chance to make a first impression: How entrepreneurs can overcome barriers to access banking services
If you’ve ever been turned away by a bank or felt overwhelmed by financial requirements, you’re not alone. As an entrepreneur, your business is your passion—and often, your livelihood. But if you’ve ever struggled to open a bank account, you know how tough it can be to take your business to the next level. For many entrepreneurs—particularly foreign-born business owners—these hurdles can feel insurmountable.
The good news? You can take control. Making a strong first impression with a bank could be your key to success. With the right preparation and support, you can ensure your business gets the access to the right account for it to thrive.
What’s in a bank account?
Bank accounts vary in what they offer and charge so having the right one for your business needs is important. But for many entrepreneurs, particularly those born outside Denmark, accessing these services isn’t always straightforward.
Here’s how to make your first impression count.
Challenges Entrepreneurs Face
1. Complex Documentation
Opening a Danish business account means proving a lot of documentation - proof of identity, address, tax details, family status and more. This is because banks must check all customers according to anti-money laundering laws.
2. Language Barriers
Many banking processes and documents are in Danish, making it difficult for non-native speakers to understand what’s needed.
3. Credit History Challenges
If you’re new to Denmark or don’t have a local credit history, it can be tough to prove you’re reliable and banks may view your business as too risky.
4. Unfamiliar Regulations
Denmark’s financial system might be different from what you’re used to. Navigating these regulations without guidance can feel like an impossible task.
One Chance to Make a First Impression
When applying for a business account, your first request to the bank matters more than you might think. A rushed or incomplete application can lead to a denial, and once a bank has made that decision, it is often very difficult - if not impossible - to change their stance.
This is why preparation is key.
Submitting a strong, well-documented application from the start significantly increases your chances of approval. Banks assess applications carefully, and if they see missing information or unclear business details, they may decide your business doesn’t meet their requirements. Unfortunately, once a rejection is on record, convincing the bank to reconsider can be a major challenge.
Instead of taking risks with an unprepared request, take the time to get it right the first time.
Understanding what banks look for, ensuring all necessary documentation is included, and presenting a clear and professional application can make all the difference. If you’re unsure where to start, getting support from experts can help you avoid common mistakes and maximize your chances of success.
By making your first impression count, you set your business on the right path from the beginning.
How to Make a Strong First Impression
You might only get one chance to prove yourself to a bank, so it’s important to be well prepared. Here are some steps you can take to make your first impression count:
- Get your documentation in order: Make sure you have all the documents you may need, from proof of address to tax records and business registration papers. If you don’t know what’s needed ask for help from an accountant or advisor who knows the system.
- Learn the basics of danish banking: Get to know how the banking system works, including what banks look for when approving applications. If your credit history is limited, be prepared to explain your financial reliability and provide proof, such as invoices or references.
- Overcome language barriers: Translate your documents into Danish or find a professional who can help you with any language challenges. Practice presenting your business plan or financial information in a clear and confident way.
- Tell your story: Banks want to know more than just your numbers. Share your business story - why you started, who you serve, and what sets you apart. A compelling story can help decision-makers see the potential of your business and the value you bring to the community.
- Build relationships: Research banks or financial institutions that specialize in supporting small businesses or have experience working with foreign-born entrepreneurs. When you approach them, show that you’ve done your homework and are serious about forming a partnership.
Introducing Finklusiv: your partner in financial success
We know that financial inclusion—ensuring that everyone has affordable access to financial tools—is essential for our economy. Entrepreneurs like you are driving innovation, creating jobs, and contributing to Denmark’s economic diversity. Small businesses make up 99% of all Danish enterprises, and migrant-owned businesses play a big role in this ecosystem.
When entrepreneurs succeed, Denmark’s economy thrives. That’s why your success matters—not just for your business, but for the communities and industries you serve.
If you’re struggling to access financial services, you don’t have to face the journey alone. Finklusiv is here to help.
We specialize in helping entrepreneurs—especially those born outside Denmark—overcome barriers to banking and more. Whether it’s assisting with documentation, providing guidance on Danish banking regulations, or connecting you with the right financial institutions, we’re here to support you every step of the way.
By partnering with Finklusiv, you can:
- Access the tools and knowledge you need to navigate the financial system.
- Build confidence to approach banks and lenders.
- Take control of your business’s financial future.
When you succeed, we all succeed. Denmark’s economy grows stronger when every entrepreneur has the chance to thrive.
Your Success Starts with the Right First Impression
As an entrepreneur, you’ve already proven you have the determination and vision to build something incredible. Don’t let financial barriers hold you back. By preparing for that critical first impression with financial institutions—and seeking the right support—you can open the door to growth and opportunity.
At Finklusiv, we believe in your potential and are here to help you make it happen.
Ready to take the next step?
Visit www.finklusiv.dk/erhvervskonto today and make that first impression count!
