Points of attention for starting entrepreneurs

There are many things to consider when starting up a business. The chance of success is much greater if you are well prepared when setting up a company. That is why it is best to come up with a real step-by-step plan. It gives you something to hold on to. The following points of attention should certainly be addressed if you want to start a business. A small checklist in a nutshell that provides a back-up.

1. Writing a business plan

As a starting entrepreneur, it is important that you draw up a business plan so that you clearly identify the weak and strong points of attention. This is an angle that should not be underestimated when you are looking for potential investors. A business plan is a detailed blueprint of all the activities your company will do. Whether these are products or services makes little or no difference. This is a decisive condition for investors and banking institutions to raise sufficient start-up capital.

2. Choose which legal form suits you best

When a company sees the light of day, you have to choose which legal form best suits your company. This depends on your personal situation. For a self-employed person, the choice is quickly made and in most cases a sole proprietorship will be chosen. But what about a Private Company or a Partnership? The different legal forms can differ considerably in terms of distribution of any shares and liability. Gather sufficient information online. Please note that some legal forms will incur additional costs.

3. Registration in the trade register or with the notary

Every (self-employed) entrepreneur who wants to start a business will have to visit the Chamber of Commerce (KvK) to register in the trade register. This applies to a partnership, sole proprietorship, general partnership or CV. If you are considering setting up a company with legal personality, the registration will generally be arranged by a notary.

4. The tax authorities and the VAT identification number

Once your company is registered with the Chamber of Commerce (KvK), it is no longer necessary to register with the Tax Authorities. The procedure is that the Chamber of Commerce automatically passes on all administrative data. You will then automatically receive a VAT identification number and a sales tax number. A catch lies in the fact that the Tax Authorities do not immediately regard you as an entrepreneur. Check this very carefully. This can have consequences for how your income tax is calculated.

5. Opening a business account

What is sometimes overlooked. Keep the private account and the business account very well separated. When starting a business, opening a business account is very important. This way you avoid business administrative searches. It is highly recommended to avoid confusion in the future.

6. Organizing the administration

If you are not very handy with figures yourself, you can also consciously choose to outsource the administrative hassle to an administration office or accountant. Outside help is recommended, especially in the start-up phase of a company. A financial advisor always remains informed of the most current revised tax rules.

7. The search for potential customers

A company depends on a large number of clients or sufficient potential customers. The important thing is that you expand the professional network as quickly as possible. Consider a marketing strategy such as social media, telephone acquisition or plan network meetings. Ask for references from several satisfied customers. LinkedIn is a good platform for this.