# Documents and Assumptions for Presenting a Newly Registered Brazilian Business | KEZ$

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Learn how to organize a new Brazilian company's records, justify startup costs, and build a clear cash forecast for discussions with potential funders.

[Starting a business](https://kezs.com.br/en/learn/starting-a-business)

# Documents and Assumptions for Presenting a Newly Registered Brazilian Business

Learn how to organize a new Brazilian company's records, justify startup costs, and build a clear cash forecast for discussions with potential funders.

KEZS team · Educational guide

[Starting a business](https://kezs.com.br/en/learn?tag=Starting%20a%20business)[Newly registered CNPJ](https://kezs.com.br/en/learn?tag=Newly%20registered%20CNPJ)[Business documentation](https://kezs.com.br/en/learn?tag=Business%20documentation)[Financial planning](https://kezs.com.br/en/learn?tag=Financial%20planning)[Working capital](https://kezs.com.br/en/learn?tag=Working%20capital)[Business assumptions](https://kezs.com.br/en/learn?tag=Business%20assumptions)[Cash management](https://kezs.com.br/en/learn?tag=Cash%20management)

[← Starting a business](https://kezs.com.br/en/learn/starting-a-business)[1. What a newly registered CNPJ can demonstrate](https://kezs.com.br/en/learn/starting-a-business/documents-and-assumptions-for-presenting-a-newly-registered-brazilian-business#topic-1)[2. Establish the company's identity and signing authority](https://kezs.com.br/en/learn/starting-a-business/documents-and-assumptions-for-presenting-a-newly-registered-brazilian-business#topic-2)[3. Align legal form, activities, and required permissions](https://kezs.com.br/en/learn/starting-a-business/documents-and-assumptions-for-presenting-a-newly-registered-brazilian-business#topic-3)[4. Build a dossier that makes material claims checkable](https://kezs.com.br/en/learn/starting-a-business/documents-and-assumptions-for-presenting-a-newly-registered-brazilian-business#topic-4)[5. Describe an operation small enough to verify](https://kezs.com.br/en/learn/starting-a-business/documents-and-assumptions-for-presenting-a-newly-registered-brazilian-business#topic-5)[6. Separate setup costs, recurring expenses, and costs per sale](https://kezs.com.br/en/learn/starting-a-business/documents-and-assumptions-for-presenting-a-newly-registered-brazilian-business#topic-6)[7. Turn the sales plan into observable assumptions](https://kezs.com.br/en/learn/starting-a-business/documents-and-assumptions-for-presenting-a-newly-registered-brazilian-business#topic-7)[8. Calculate funding needs from cash flow](https://kezs.com.br/en/learn/starting-a-business/documents-and-assumptions-for-presenting-a-newly-registered-brazilian-business#topic-8)[9. Read the monthly cash flow and reconcile every balance](https://kezs.com.br/en/learn/starting-a-business/documents-and-assumptions-for-presenting-a-newly-registered-brazilian-business#topic-9)[10. Distinguish operating results, receivables, and available cash](https://kezs.com.br/en/learn/starting-a-business/documents-and-assumptions-for-presenting-a-newly-registered-brazilian-business#topic-10)[11. Put the operating schedule beside the cash forecast](https://kezs.com.br/en/learn/starting-a-business/documents-and-assumptions-for-presenting-a-newly-registered-brazilian-business#topic-11)[12. Test late payments and weaker sales before committing](https://kezs.com.br/en/learn/starting-a-business/documents-and-assumptions-for-presenting-a-newly-registered-brazilian-business#topic-12)[13. Choose the type of funding before negotiating its amount](https://kezs.com.br/en/learn/starting-a-business/documents-and-assumptions-for-presenting-a-newly-registered-brazilian-business#topic-13)[14. Use difficult questions to improve diligence and negotiation](https://kezs.com.br/en/learn/starting-a-business/documents-and-assumptions-for-presenting-a-newly-registered-brazilian-business#topic-14)[15. Assign controls, responsibilities, and sharing limits](https://kezs.com.br/en/learn/starting-a-business/documents-and-assumptions-for-presenting-a-newly-registered-brazilian-business#topic-15)[16. Correct the presentation and make it a management routine](https://kezs.com.br/en/learn/starting-a-business/documents-and-assumptions-for-presenting-a-newly-registered-brazilian-business#topic-16)[Frequently asked questions](https://kezs.com.br/en/learn/starting-a-business/documents-and-assumptions-for-presenting-a-newly-registered-brazilian-business#faq)[References](https://kezs.com.br/en/learn/starting-a-business/documents-and-assumptions-for-presenting-a-newly-registered-brazilian-business#references)

What you will find 

A newly registered CNPJ, Brazil's business taxpayer identifier, establishes that a business has a registration record. It does not, by itself, demonstrate an ability to sell, deliver contracts, or meet obligations. A business presentation must bridge that gap by explaining who runs the operation, what it will deliver, what resources it needs, and what could prevent the plan from working.

01 

## What a newly registered CNPJ can demonstrate

Without a business track record, an entrepreneur works with both facts and assumptions. Registration documents, an accepted commercial proposal, and equipment already purchased are documentable facts. Expectations about winning customers, maintaining a margin, or collecting payments on time remain assumptions, even when reasonable. Separating these categories helps readers understand what the evidence supports and what still needs to happen.

There is no need to disguise the legal entity's lack of experience. A new company may have experienced founders, tested processes, and substantial industry knowledge. These strengths can support its ability to execute, provided they are attributed correctly. Revenue earned by a founder's former employer belongs to that employer; it must not be presented as revenue of the new business.

Preparing the presentation also creates a management tool. Gathering records and checking calculations can reveal overlooked costs, operational dependencies, and decisions the available cash cannot support. The resulting material should guide the order of registration tasks, hiring, purchases, and deliveries. Its usefulness comes from making decisions clearer, alongside helping another person assess the proposal.

02 

## Establish the company's identity and signing authority

The first documents should make the business easy to identify. They may include its CNPJ registration and status record, the applicable formation document, related registrations, and evidence of who can represent it. The exact set depends on its legal form and activities. A file labeled articles of association is insufficient if its contents are incomplete or have been superseded.

Check that the registered business name, trading name, address, and stated activities are consistent across the documents and presentation. A discrepancy may have a straightforward explanation, such as a change still being processed, but it should be recorded. Where someone signs under a power of attorney, the recipient must be able to understand the powers granted and their limits.

Distinguish an ownership interest from authority to incur obligations. Being an owner does not necessarily authorize someone to take on any debt in the company's name. A transaction may require joint signatures, a corporate resolution, or another condition in the governing documents. Identifying this only after negotiating an amount and repayment schedule can cause rework or make the proposal impossible to execute.

Record the nature of money founders have already contributed. It may be capital, a loan, or reimbursement for a company expense paid personally; these create different accounting and legal consequences. Document the treatment with accounting or legal assistance where needed. Mixing them together obscures the company's obligations, equity, and genuinely available cash, and may leave founders with conflicting expectations.

03 

## Align legal form, activities, and required permissions

Before discussing funding, check whether the chosen structure can accommodate the proposed business. Consider its actual activities, contracting arrangements, participants' responsibilities, and operating location. A CNAE economic activity code describes a registration classification in Brazil. It does not replace a license, sector authorization, or assessment of whether the premises and operating arrangements meet applicable requirements.

Build the checklist around the actual operation. Food preparation, technical services, premises open to the public, and sensitive personal data create different requirements. Identify which permissions apply, who will verify them, their potential cost, and whether work can begin before completion. An outstanding requirement belongs among the schedule's dependencies, with its effect on opening and revenue made explicit.

A Brazilian individual microentrepreneur, or MEI, cannot admit equity partners while remaining a MEI. If the proposal depends on someone receiving an ownership interest, the structure must be reviewed before that arrangement is treated as executable. Renaming the contribution does not resolve an arrangement that, in substance, grants rights incompatible with the MEI framework.

Regulated financial activities and public securities distribution require appropriate structures and providers. Technology, intermediation, or a CNAE code is not sufficient permission. Explain the company's actual role and identify specialist advice or providers the proposed arrangement would require. A possible structure must remain identified as a proposal until its requirements are verified; it cannot be presented as authorization already obtained.

04 

## Build a dossier that makes material claims checkable

A useful dossier has four parts: identity and representation; operations and delivery capacity; budget and cash flow; and risks and proposal terms. Begin with a one-page overview of the activity, responsible people, funding need, and actual stage of development. Follow it with supporting documents for material claims. Include attachments because they answer a question, rather than simply to increase the file count.

Give every piece of evidence context. An equipment quotation should identify the supplier, specifications, payment terms, and exclusions. A customer conversation can establish interest without establishing a purchase. A signed proposal may contain conditions that still prevent work from starting. State what each document demonstrates and its limitations, so the reader does not have to infer its significance from its filename.

Maintain an index identifying the person responsible, version, status, and next review for each item. Use clear categories such as confirmed, estimated, under negotiation, and awaiting validation. Update the narrative and spreadsheet together when assumptions change. A summary describing a lean operation will lose credibility if the budget includes a larger team without explaining why the staffing requirement changed.

Share attachments according to the needs of the review. An initial summary can usually circulate without complete personal documents, full bank statements, or identifiable customer information. More sensitive evidence can be provided later with controlled access and a defined purpose. Transparency means allowing relevant claims to be checked while limiting unnecessary disclosure of unrelated transactions, personal information, and commercial relationships.

05 

## Describe an operation small enough to verify

Consider a wholly hypothetical example: a small studio producing content for business customers. It sells work packages, uses its own equipment, and hires additional help as demand requires. Every amount below illustrates arithmetic and planning only. The figures are not market prices, tax rates, financing offers, or evidence of actual business results, and all amounts remain in Brazilian reais.

Define what each initial package includes, what it excludes, and when the work counts as accepted. Explain how many projects the team can handle simultaneously, which stages depend on customer input, and how additional revisions affect costs and deadlines. A sales forecast above that capacity requires either a credible operational change or a lower forecast; spreadsheet growth cannot create extra production hours.

In this example, the founder coordinates projects and manages customers. A regular support worker helps deliver the work, while project-specific services enter the variable cost of each delivery. Explain why this division is workable and who covers an absence. If every approval depends on the founder, growing sales may create a bottleneck before it increases the cash collected.

Work samples, professional experience, and process tests can support the claimed delivery capacity. Previous work must be used consistently with confidentiality, authorship, and permission requirements. Without a company portfolio, a sample clearly labeled as a demonstration is more informative than an invented customer case. Link each piece of evidence to the particular skill or process needed to deliver the package being sold.

06 

## Separate setup costs, recurring expenses, and costs per sale

The hypothetical studio requires R$ 18,000 to set up: R$ 10,000 for equipment, R$ 4,000 for adapting the workspace, R$ 2,000 for formalization and initial arrangements, and R$ 2,000 for system configuration and training. These outflows occur before operations begin. Support each item with a quotation or explanation, stating whether delivery, installation, and other necessary components are included.

Fixed monthly outflows total R$ 12,000: R$ 4,000 for the founder's remuneration, R$ 4,000 for regular support, R$ 2,000 for occupying the workspace, and R$ 2,000 for administration and services. These are simplified planning categories. Their accounting, employment, and tax treatment must be checked separately for the actual structure; the labels alone do not determine how a payment should be classified.

Variable costs are estimated at 30% of sales delivered and recognized as revenue each month. This hypothetical percentage combines materials, project-specific help, and variable provisions, including tax-related provisions, solely for the example. It is not a tax rate. The model assumes those costs are paid in the production month, before some of the related customer payments arrive.

This separation shows how different decisions affect funding needs. Delaying equipment reduces setup spending; negotiating rent reduces fixed outflows; redesigning a package may reduce variable costs. However, removing a cost that supports delivery can also reduce achievable sales. Each saving needs an operational check: after the change, can the business still deliver the volume, scope, and quality underlying its forecast?

07 

## Turn the sales plan into observable assumptions

The studio forecasts delivered sales recognized as revenue of R$ 10,000 in month 1, R$ 18,000 in month 2, R$ 26,000 in month 3, R$ 30,000 in month 4, R$ 34,000 in month 5, and R$ 36,000 in month 6. This growth is a commercial assumption. Support it with the required package quantities, average prices, and available production capacity.

The assumed collection terms are 50% in the revenue month and 50% in the following month, with no receivables carried into the opening period. Growth therefore creates a difference between recognized revenue and cash received. A month showing R$ 26,000 in revenue does not necessarily provide R$ 26,000 to pay workers, suppliers, and other obligations during that same month.

Present sales evidence by stage: identified contacts, confirmed needs, proposals issued, negotiations, and contracts. Do not add every stage together as certain revenue. A prospect may appear in several lists, while a proposal may still depend on the customer's internal budget approval. Avoid double counting and state which events must occur before an opportunity becomes a sale that can be delivered and collected.

Give important assumptions a review trigger. If qualified proposals no longer support next month's projected revenue, reconsider planned purchases and commitments before making them. This does not remove uncertainty, but it connects information to action. The forecast should respond to refusals, customer delays, and changes in scope rather than continuing to show growth simply because the original numbers have not been updated.

08 

## Calculate funding needs from cash flow

The founders have R$ 36,000 and are considering raising another R$ 24,000, giving R$ 60,000 before setup spending. After the R$ 18,000 setup outlay, the studio would begin operating with R$ 42,000 in cash. This balance is neither profit nor money freely available for withdrawal. It funds the interval between paying for production and collecting from customers, as well as early operating shortfalls.

The plan sets a management cash floor of R$ 24,000, equal to two months of the assumed fixed outflows. This is a hypothetical prudential choice, not a universal rule. It provides a signal to review decisions. It does not automatically cover every risk: variable costs, late collections, termination obligations, or equipment replacement may require additional cash beyond the amount represented by two months of fixed spending.

Without the external R$ 24,000, the studio would have R$ 18,000 after setup. Under the example's assumptions, before debt service, its largest cumulative cash reduction would be R$ 13,400, leaving R$ 4,600. Maintaining the chosen R$ 24,000 floor at that point would require R$ 19,400 more. Raising R$ 24,000 would therefore leave R$ 4,600 of headroom above that floor.

Explain the difference between the calculated minimum and the amount requested instead of burying it in a generic contingency line. Alternatives may include a smaller setup, more founder funding, or a slower start. Any cost of obtaining funds must enter the forecast. Connecting the request to the cash calculation lets a reviewer distinguish operating requirements, chosen reserves, and the entrepreneur's preferred spending plan.

09 

## Read the monthly cash flow and reconcile every balance

Under the collection assumption, customer inflows in months 1 through 6 are R$ 5,000, R$ 14,000, R$ 22,000, R$ 28,000, R$ 32,000, and R$ 35,000. Month 2 contains R$ 5,000 from month 1 and R$ 9,000 from month 2. Breaking receipts down this way makes the arithmetic checkable and identifies the customer payment or installment supporting each forecast inflow.

Adding R$ 12,000 of fixed outflows to variable costs at 30% of revenue produces monthly operating outflows of R$ 15,000, R$ 17,400, R$ 19,800, R$ 21,000, R$ 22,200, and R$ 22,800. Before financing payments, monthly net cash flow is negative R$ 10,000 and negative R$ 3,400, followed by positive R$ 2,200, R$ 7,000, R$ 9,800, and R$ 12,200.

Starting with R$ 42,000 after setup, balances before debt payments would be R$ 32,000, R$ 28,600, R$ 30,800, R$ 37,800, R$ 47,600, and R$ 59,800. Now assume the external R$ 24,000 is a hypothetical loan repaid in six installments, each comprising R$ 4,000 of principal and R$ 300 of charges, beginning in month 4. This arithmetic convention is not a market rate or financing offer.

After R$ 4,300 installments in months 4, 5, and 6, those closing balances become R$ 33,500, R$ 39,000, and R$ 46,900. The lowest balance during the six months remains R$ 28,600. Three installments totaling R$ 12,900 remain unpaid at the end. Extend the plan through their repayment and beyond; stopping at month 6 would conceal existing future commitments behind an apparently comfortable closing balance.

10 

## Distinguish operating results, receivables, and available cash

Across the six months, total revenue is R$ 154,000, while customer receipts total R$ 136,000. The R$ 18,000 difference is the half of month 6 revenue expected to be collected in month 7. Variable costs total R$ 46,200 and fixed outflows total R$ 72,000. This reconciliation shows why increasing revenue does not translate fully into money already available in the bank.

Revenue less the operating costs included in the example is R$ 35,800. Do not automatically label this accounting net profit: the model does not detail depreciation, every accounting treatment, or possible tax adjustments. Similarly, the R$ 18,000 setup expenditure is a cash outflow, but its components may receive different accounting treatment. Cash movement and reported profit require related but distinct reconciliations.

With the hypothetical 70% contribution margin, approximately R$ 17,100 of monthly revenue covers R$ 12,000 in fixed costs. Including a R$ 4,300 loan installment raises the simplified coverage figure to approximately R$ 23,300. The latter is an outflow-coverage reference, not an accounting break-even point. It also depends on collection timing: sufficient revenue does not ensure that cash arrives before payments fall due.

Distinguish existing receivables from hoped-for sales. The R$ 18,000 forecast for collection in month 7 becomes an actual right to payment only if the underlying transactions occur and contractual requirements are met. A forecast cannot be presented as an established receivables portfolio. Even existing rights require assessment of their quality, enforceability, and eligibility for any particular receivables-based financing arrangement.

11 

## Put the operating schedule beside the cash forecast

A workable budget can fail when tasks happen in the wrong order. Before month 1, the studio needs to complete applicable operating requirements, prepare the workspace, configure systems, and test delivery. Equipment purchases must account for availability and installation. Paying for a structure that cannot yet operate consumes reserves without generating the revenue assumed in the forecast.

For each milestone, show dependencies, the responsible person, and the consequences of delay. Workspace alterations may hold up equipment installation, affecting when sales can actually be fulfilled. A customer's supplier registration checks may delay work even after commercial agreement. Reflect these intervals in the schedule and cash forecast instead of assuming that signing a proposal immediately makes production and collection possible.

The lowest monthly closing balance occurs in month 2, but this does not establish that cash is sufficient every day. Rent, remuneration, and supplier payments may fall due before customer receipts. During the opening period, break cash flow down by week or individual due date. A positive month-end figure can conceal a temporary shortage that prevents an essential payment earlier in that month.

Commit resources against verifiable milestones. A production test may precede an additional purchase, and confirmed commercial demand may precede a permanent hire. This sequencing must still respect contracts and delivery capacity. Delaying everything also has costs: selling without adequate resources can cause delays, rework, and the loss or postponement of the very customer payment expected to fund operations.

12 

## Test late payments and weaker sales before committing

First, consider a collection delay with all other assumptions unchanged. If the R$ 9,000 due in month 2 from that month's sales arrives only in month 3, the month 2 closing balance falls from R$ 28,600 to R$ 19,600. This breaches the R$ 24,000 floor. Full collection in month 3 restores the projected balance to R$ 30,800, provided the amount is paid in full.

Recovering the original balance does not erase the intervening shortage. Payments may have fallen due, charges may have accrued, or renegotiation may have been necessary. Preparation begins with checking acceptance, billing documents, collection contacts, and contractual terms. Once a delay occurs, revise the collection forecast using a supported expectation rather than automatically moving the same receipt into the following week.

In a separate scenario, independent of that delay, sales are 30% below plan from the outset. Fixed costs, the 30% variable-cost ratio, and collection terms remain unchanged. Closing balances become R$ 31,400 in month 1, R$ 25,420 in month 2, and R$ 23,360 in month 3. With the R$ 4,300 installment included, month 4 closes at R$ 20,360.

The studio still has cash, but it has lost the buffer chosen for management purposes. Responses may include reducing future commitments, revising packages, negotiating terms, or stopping expansion. Recalculate the effects on both costs and sales. Cutting support or promotion without considering delivery and demand can worsen the position. If an adverse scenario makes the proposal unsustainable, disclose that before an agreement is signed.

13 

## Choose the type of funding before negotiating its amount

The example's loan creates a contractual payment obligation even if sales disappoint. Review charges, due dates, collateral or guarantees, default provisions, and any personal or corporate responsibilities involved. The cash forecast illustrates a possible ability to pay under stated assumptions. It provides no guarantee of repayment, credit approval, funding availability, or protection against a loss if the business performs differently.

An equity contribution affects ownership, economic rights, and governance. It requires discussion of valuation, ownership percentage, voting and decisions, distributions, and exit under the applicable structure. Receiving R$ 24,000 as a loan is not equivalent to receiving that amount for equity. The modeled debt installment may disappear, but ownership rights, shared decisions, dilution, and potential conflicts must then be considered.

Convertible instruments require clear conversion conditions, relevant triggering events, rights before conversion, and consequences if conversion never occurs. A receivables-based transaction instead depends on existing eligible rights, supporting documents, and an appropriate structure. Desired sales do not become receivables merely because they appear in a spreadsheet or on a platform. Each arrangement creates different rights and leaves different risks with the parties.

A nonprofit donation creates neither an equity interest nor a promised financial return. It must not be used as a label to disguise an obligation to remunerate the contributor. Identify the actual right being created and the risk each party retains. The chosen format must fit the business, intended use of funds, and applicable requirements; terminology cannot repair an incompatible underlying agreement.

14 

## Use difficult questions to improve diligence and negotiation

A reviewer may challenge pricing, growth speed, or the size of the reserve. Open the relevant assumption. If the concern is month 3 revenue, show the package quantities required, production capacity, and commercial evidence. A specific disagreement can be tested and reflected in the forecast. A discussion resting entirely on personal trust is less likely to reveal where the operating model needs revision.

Where two estimates are plausible, retain both as clearly identified scenarios. The entrepreneur may expect R$ 26,000 of month 3 revenue while the other party assumes less. Show how each path changes cash and obligations. Silently changing the forecast to satisfy the reader creates apparent agreement without a shared management basis, and makes subsequent comparisons between the forecast and actual results harder to interpret.

Contract terms can affect funding needs as much as the principal amount. An earlier installment, withheld amount, fee, or structuring cost reduces available headroom. The example assumes the full R$ 24,000 is available and includes no additional upfront fee. If the actual arrangement delivers less net cash, recalculate the opening balance, subsequent cash balances, and compliance with the chosen floor.

Examine compensation and conflicts of interest. A party introducing opportunities, preparing documents, or connecting participants may receive payment for distinct services where applicable. Understand who pays, for what, when, and how that affects incentives. Clear disclosure does not make an intermediary a guarantor or transfer the funder's decision to that intermediary. Service costs and the possibility of loss still belong in the assessment.

15 

## Assign controls, responsibilities, and sharing limits

Even a small company needs explicit financial responsibilities. Someone records commitments, another person checks documents where feasible, and an authorized person approves payments. If the founder performs several roles, periodic independent review can help reduce errors. Match controls to the operation's scale. A simple routine consistently performed provides more protection than an elaborate procedure the team lacks the time or resources to maintain.

In the studio, the commercial role updates contracts and expected receipts; operations confirms deliveries and production needs; financial management compares forecasts with actual movements; and the accountant advises on records and obligations within their remit. A few people may cover all these roles, but ownership must be clear. An accountant cannot automatically discover a negotiation or commitment the entrepreneur has left outside the records.

Personal documents, contracts, and customer information need restricted access, appropriate storage, and a defined purpose. Specify who receives each file, how inaccuracies are corrected, and when retention needs are reviewed. Avoid sharing complete folders merely for convenience. If a reviewer only needs to verify one condition, consider evidence that establishes it without exposing every detail of unrelated commercial relationships.

Do not place private documents on public blockchains. Where applicable, a technical integrity record may help detect changes to a file. It does not establish the truth of its contents, legal title, reserve solvency, or a payment guarantee. The core controls remain accurate documents, traceable approvals, and a way to verify information sources; a technical record cannot replace those underlying checks.

16 

## Correct the presentation and make it a management routine

Before sharing, cross-check the dossier for duplicated revenue, omitted purchases, missing founder withdrawals, incompatible payment terms, and balances that do not reconcile. Check whether estimates are being described as confirmed facts. If an error emerges after circulation, explain its impact, distribute a corrected version, and identify which document it replaces. Preserve the revision trail so recipients can understand what changed and adjust their analysis.

A comfortable final balance can distract from earlier strain. The example ends month 6 with R$ 46,900, but reaches R$ 28,600 in month 2 and still owes R$ 12,900 in future installments. Review the lowest balance, payments due within each month, and remaining obligations together. The last number alone cannot establish that the business can meet every commitment along the way.

A project-based approach connects purpose, budget, responsibilities, evidence, and risks. KEZS's role in connecting entrepreneurial projects and potential funders through technology and intermediation can be understood in that context. Investors conduct their own diligence and make their own decisions; KEZS does not assign a credit score. Explaining this method and its potential usefulness does not establish any particular operational feature or regulated authorization.

Maintain a coherent package: verifiable identity, deliverable scope, justified costs, reconciled cash flow, adverse scenarios, and clearly described terms. Once operations begin, compare forecasts with actual results and explain deviations. The company demonstrates more than a registration when it can show how resources become deliveries and how risks are managed, while recognizing uncertainty and the possibility that funding or operating outcomes will differ from the plan.

FAQ 

## Frequently asked questions.

### Can I present the business before it has any revenue?

Yes. State clearly that the business has no revenue yet and show what supports the proposal instead: experience attributed to the responsible people, a justified budget, operational capacity, process tests, and commercial evidence. Keep contracts, proposals, and interested contacts separate because they support different conclusions. Bank records or founder funds may demonstrate available resources in a particular situation, but they do not establish future demand. Each recipient will apply their own requirements and judgment. A clear presentation makes the uncertainty easier to examine without turning an early-stage forecast into a track record.

### Must I provide all personal and banking documents at the first contact?

Sharing should match the purpose and stage of the review. An initial project summary can generally explain the activity, funding need, and structure without exposing complete personal documents or unrelated account movements. When sensitive evidence is requested, establish its purpose, recipients, and access arrangements. Do not misleadingly withhold information needed for the assessment, but do not distribute customer, owner, or third-party data simply to make the dossier look more complete. Provide enough context for the relevant claim to be checked, while controlling access to information that serves no purpose in that review.

### How can I justify working capital when the forecast shows a positive operating result?

Show when money enters and leaves. The studio pays variable costs in the production month but collects half of the corresponding revenue in the next month. Its earliest revenue is also too low to cover operating outflows. Although the six-month difference between revenue and the included operating costs is positive R$ 35,800, cash initially falls by a cumulative R$ 13,400 before debt service. Explain that maximum drawdown, the chosen R$ 24,000 floor, and the additional headroom. A period's operating result does not establish that cash is available on each payment's due date.

### Can an intention to buy be presented as a receivable?

No. Interest, purchasing intentions, and forecast sales do not by themselves create an existing right to payment. Even a contract requires examination of its conditions, performance, acceptance, cancellation provisions, and supporting documents. Eligibility for a receivables-based transaction depends on the applicable rules and structure. Keep established receivables, contracts still requiring performance, and commercial opportunities separate. The R$ 18,000 forecast for month 7 is therefore an expected collection under the model, rather than proof of a portfolio already in existence. This distinction prevents overstatement of assets and the predictability of future cash.

### What if a potential funder requests guarantees or payment terms the plan cannot support?

Recalculate before accepting. A larger installment, earlier due date, or lower net amount received can consume the reserve and undermine a plan that previously appeared balanced. Consider concrete alternatives such as reducing setup spending, revising the amount, or negotiating a compatible structure, without assuming the other party will agree. Understand any collateral, personal guarantees, and other responsibilities, including the losses they may expose participants to. If the terms remain incompatible with the operation, acknowledge that limit. A forecast should help identify an unsupported obligation before it is assumed, rather than be adjusted to conceal the problem.

### Can a MEI receive money from someone who wants to participate in the business?

First establish the rights the person expects. A MEI cannot admit equity partners while remaining a MEI. An intended ownership contribution therefore requires assessment of another structure before execution. A loan has a different nature, but still needs appropriate documentation and a compatibility review. Calling a contribution assistance or a donation does not resolve an arrangement that actually grants ownership or promises remuneration. A nonprofit donation is not an equity investment or a promise of financial return. The legal and contractual form must reflect the real agreement, rather than rely on a convenient label.

### Does presenting a project through a platform mean it is approved or its funding is guaranteed?

No. Organized information can help people understand and compare a project, but it does not remove diligence, costs, conflicts, uncertainty, or the possibility of loss. KEZS connects projects and potential funders through technology and intermediation; it does not assign a credit score. Investors perform their own analysis and decide according to their criteria. A platform presentation establishes no guarantee of approval, repayment, profitability, liquidity, or capital preservation. It also does not prove regulated authorization, existing bank partners, available funds, or a particular live feature. Any specific arrangement must be evidenced and formalized through an appropriate structure.

## References and context

Institutional reference points for checking applicable rules and guidance. Calculations and scenarios are original examples, not quotes, historical results or individualized recommendations.
- [Banco Central — correspondentes no País ↗](https://www.bcb.gov.br/estabilidadefinanceira/exibenormativo?tipo=Resolu%C3%A7%C3%A3o%20CMN&numero=4935)
- [CVM — Resolução 88, texto e alterações ↗](https://conteudo.cvm.gov.br/legislacao/resolucoes/resol088.html)
- [CVM — Resolução 175, fundos de investimento ↗](https://conteudo.cvm.gov.br/legislacao/resolucoes/resol175.html)
- [Portal do Empreendedor — perguntas sobre MEI ↗](https://www.gov.br/empresas-e-negocios/pt-br/empreendedor/perguntas-frequentes)
- [ANPD — orientações e perguntas frequentes ↗](https://www.gov.br/anpd/pt-br/acesso-a-informacao/perguntas-frequentes)

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Starting a business 

### Startup Budget: Planning Initial Investment and Working Capital

Learn to separate setup costs from working capital, forecast cash flow, and test scenarios before opening a business in Brazil with clearer costs and risks.Explore the article ↗  ](https://kezs.com.br/en/learn/starting-a-business/startup-budget-planning-initial-investment-and-working-capital)

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Starting a business 

### First Sales: Validate Demand Before Taking on Debt

Learn how to test early sales, calculate real costs and plan cash flow to validate customer demand before taking on debt for your business.Explore the article ↗  ](https://kezs.com.br/en/learn/starting-a-business/first-sales-validate-demand-before-taking-on-debt)

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Starting a business 

### How to Calculate the Break-Even Point of a New Business

Learn to calculate break-even, assess costs and contribution margins, and plan a new business's cash flow with practical examples and risk scenarios.Explore the article ↗  ](https://kezs.com.br/en/learn/starting-a-business/how-to-calculate-the-break-even-point-of-a-new-business)

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