Do you have a dream of your own company? Here are some tips to get you started on your dream. You can also opt for GISI.com now where you can find the best support to get all the business infrastructural development.
From idea to business idea and business plan
First of all, you need to outline what you want to do as an entrepreneur. This is called a business idea . A good business idea sums up your business into a few words and at most one sentence. When the idea is complete, first design the business on paper around the idea in the form of a business plan . If the idea does not work on paper, it will not work in practice. You can get in touch with a business representative in your area who will help you with your plan and idea – all for free. If you are planning to jump into a full-time entrepreneur, we highly recommend that you also take the Entrepreneur Qualification before starting a business. This way, you don’t have to learn all the hard way.
Accounting is in order right from the start
After your business idea and business plan, the next step is to think about who will handle your business accounting. Do you do the accounting yourself or do you entrust it to the accountant? What is decisive here is your own knowledge, interest and time. Do you have the time and expertise in accounting, or would it be wiser to choose an accounting firm to do the accounting for you? Small business services do not really solve this problem, even though they are marketed as an easy solution. In most cases, a small entrepreneur pays a pretty good amount for a small business service without getting any kind of service. At the same price you can get an accounting firm to do all the accounting.
Next, it’s time to think about the shape of your business. At present, there are only two recommended forms of company remaining: company name or public limited company. Recent changes in the Limited Liability Companies Act have made the general partnership and the limited partnership largely unprofitable.
All existing businesses must register with the prepayment register from the day the business starts. More information on the prepayment register can be found on the taxpayer’s website.
Value Added Tax Register
You must register for VAT if your company sales exceed € 10,000 per year. Few people know the amount of sales when starting a business. Even if your sales are less than € 10,000 a year, you can still register for VAT. In this case, you may want to choose the year for your return period when the lower limit offsets your VAT immediately and no VAT is due. You can also find more information on the VAT register at vero.fi/value added tax
Here it goes
Once the announcement is complete, you are ready to start your business. If you are not in a burning hurry, you should wait for the trade register statement to arrive and your company information to be found in the YTJ. Starting your own business is a good idea to set up a company account and get your business insured. You can become a client of an accounting firm before you fill out a statement of incorporation, but at this point, it would be a good idea to also conclude an engagement agreement with the accounting firm so that your records are in good working order from the start.