Top 10 Tips for Starting a Business

You are ready to start your own business and want to start your own business. This is a big step for many starting entrepreneurs. It is not just done just like that. There are several things to consider when starting a business.

Business plan

What are you going to do? Make sure you have clear what you want to do in the company and what it should look like exactly. Do you want to manufacture a product or offer a service? How do you want to sell this? What do you need to set this up? How much money do you need to fund this? These are all things you need to know before you can take any action.

Legal form

Each company chooses under which legal form it wishes to fall. This determines which rules the company must adhere to. The different legal forms all have different advantages and disadvantages so that each company has its preference in terms of legal form. When you start a business, it is wise to go for a sole proprietorship or general partnership (general partnership), while larger, long-established companies are often private or limited liability company.

Business accommodation

Of course, every company needs its place to grow and thrive. Whether it’s a bakery, supermarket, or florist, you can’t start a business without a workspace. Depending on what is important to your business, you will look at what is available. As far as the location is concerned, it concerns the accessibility and infrastructure, the appearance, the rental or purchase costs, the proximity of other companies or homes, any specific requirements for your company, etc. It is also very important how the property looks on the inside. Is there a pleasant working atmosphere and is there enough space for the necessary equipment, stock, or workspace? In short: What is very important to your company and where do these requirements best meet?

Chamber of Commerce

All companies must be registered with the Chamber of Commerce. Since July 2008, the Trade Register Act has come into force, which states that (almost) all new companies and legal entities must register with the Chamber of Commerce. Registration is possible from one week before the official start of the company and can be done by personally visiting one of the offices of the Chamber of Commerce. Registration costs 50 euros and a valid ID is required.

tax authorities

As a starting entrepreneur, you must be registered with the tax authorities. You must emphasize that you are a starting entrepreneur so that you can take advantage of the special tax arrangements. This is very easy and can be done at the same time as registering with the Chamber of Commerce. Your data will simply be passed on by the Chamber of Commerce to the tax authorities. You should keep the VAT number that you receive in a safe place because this must be stated on all your invoices.

Administration

You may never have thought about it that much, but all this work entails several administrative obligations. According to the law, you must keep and keep a business administration. For example, it is mandatory to keep the basic data (the ledger, the debtors and creditors, the stock, the purchases and sales, and the payroll administration) for no less than seven years. Data about real estate must even be kept for ten years. This administration must make clear what amount of VAT you have to pay to the tax authorities. Matters such as the factors you have written out, the private use of services and goods, and your income and expenditure play a role.

Banking and insurance

To facilitate that business administration, your company needs its bank account. It is often handy that you can use this account to do online banking. That way it is easier to deal with financial matters quickly. When do you want to start your business? If this does not take that long, it is smart to arrange the necessary insurance immediately. You cannot get started until this has been completed. The following insurance policies are important:

Liability insurance

Legal insurance

Disability insurance

Health insurance

Term life insurance

Permits

In addition to ensuring your business, the necessary permits must be arranged so that you can do what you want to do. Of course, it depends on the type of business which permits you to need. In addition to the specific permits of the industry, there are also several general obligations:

Reproduction right: the payment for copying materials with copyright protection;

Stemra / Buma: the payment for playing music;

Personal Data Protection Act

Staff

New entrepreneurs often start on their own. However, some companies do need staff to get off the ground. Before you start as an entrepreneur, you should ask yourself several questions:

Do you need staff?

How many employees are involved?

When do you need staff?

Do you want full-timers, part-timers, or on-call workers in your workforce?

What should your staff be able to do?

You must have these things clear in advance. In this way you will not find out halfway through that you should have arranged everything and you can also start right away.

Registrations 

Finally, it is not very convenient if a competitor can just copy the product or sell a similar product. That is why it is necessary to make several registrations to protect your product:

Trademark registration: You can do this at the Benelux Trademark Office or a trademark registration office.

Patent protection: A patent allows you to record that you have developed a particular product, preventing anyone else from using this product for commercial purposes.

Intellectual Property: It sometimes happens that unique aspects of products or services also need legal protection. There are laws for this, under the name of intellectual property. Because the conditions for this form of registration are rather complicated, it is not unwise to call in the help of a legal specialist.

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