BUSINESS CREATION PROJECT: ADVICE AND GUIDANCE

For the construction of a business creation project, it is recommended to be accompanied by a professional from the beginning and to act with methodology. Professional advice and guidance can increase the chance of your success, as many newly created businesses fail to reach the three-year mark and disappear.

KEY STEPS FOR BUSINESS CREATION

The steps for setting up a business are more or less the same, namely: finding the idea for the creation of one’s business and transforming one’s idea into a project and then into a business. But before creating your business, a serious market study must confirm that your future business interests potential and actual customers. A serious analysis of the clientele can verify whether the business creation project is feasible and can generate a forecast turnover that speaks for itself. The development of a cash flow plan is essential to determine the profitability of the project. Choose the legal status that suits the company in order to determine whether the application of tax regimes is mandatory or optional. The last step is to set up the company and get it up and running. But you need the support of a professional to make your project a success. The professional accompanies you from conception to completion.

THE ACCOMPANIMENT OF A PROFESSIONAL IN A FEW STEPS

During your first meeting with the expert, you will define together the strong points of your project and the points to be improved. He will give his opinion on whether or not you can continue the process. Together, you will define the financial needs, the provisional accounts and the indicators. For the search for financing, you will ask your expert to accompany and assist you during negotiations with the various financial organisations. Your professional help will guide you in the choice of legal, social and fiscal status. Concerning the setting up of the declaration procedure and registration, you can do it without support. For the creation of dashboards, your professional is there to monitor the activity, reveal weaknesses and propose adapted solutions. The drafting of employment contracts, collective agreements and all social management, the expert relieves you of all these studies. Accounting and administrative management is not an easy task. Delegate these difficult tasks to your expert.

MISTAKES TO BE AVOIDED WHEN SETTING UP A BUSINESS

Generally speaking, there are always inherent risks involved in setting up a company. To minimise these risks, many mistakes should be avoided: do not rush into choosing the right legal form for setting up a company, opt for a legal status that limits your liability. If you choose the SARL, SASU or EIRL, you considerably reduce the extent of your liability as an entrepreneur. Avoid the risk of conflicts between partners by creating a 50/50 company. Do not be an officer and hold a position under an employment contract at the same time. Above all, be accompanied and advised throughout the process. Limit your personal guarantees and sureties required by the bank when applying for financing.

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