WELCOME TO OUR advice for entrepreneurs

HOW TO get started

WHO to work with

WHERE to run your business

The company registration process is perceived as expensive, complex and time consuming by most entrepreneurs. The choices seem endless and it’s hard to quickly understand which options to choose and, above all, in what order.

Of course, there is no “one size fits all” option but that does not necessarily mean that all entrepreneurs are unique. Most of us are asking the same questions!

This section is designed to tear down a few common misconceptions and to give you some ideas as you go through the process of starting a new business. Here are a few key questions and answers to keep in mind.

PREPARATION PHASE

What is my objective?

Why do I want to start a business? What do I want to sell and at what price? Structured market research is the ideal option, but you do not necessarily have the means to achieve it. Consider meeting some potential customers and test your idea before going further!

Alone or with partners?

Starting alone or with partners, both options are viable but this is an important question to answer as quickly as possible in order for you to move forward with the next steps.

How much money do I need to start and establish a new company?

Do I have enough funding to finance my start-up and who is going to help me? This is a key question to be answered during the preparation phase. You can start by listing all costs expected in the first 6 to 12 months and by keeping in mind that sales (and customer payments) always arrive later than expected!

GETTING OFF THE GROUND

Which legal business structure to choose?

An entrepreneur often asks many questions on this subject: “auto-entrepreneur”, SARL , SAS, the choices seem endless. This is an important question but if you spend too much time on this rather than on your business and on how to build your knowledge of your customers it could become problematic. Remember: The choice of the legal structure is not set in stone; you can always change it later.

Who will help me?

A next section of this web site, “WHO to work with”, is focussed on this question. You will find several services available to support you and make your life easier when you set up your business.

What is the best way to select vendors and service providers? This question quickly arises when setting up a business.

Who can help me now and in the future? This question quickly arises when setting up a business. When you search on the internet there are many professionals who can help you with anything from decision making to administrative tasks. Here are the main options:

CHARTERED ACCOUNTANT

Book keeping is a legal requirement but it isn’t mandatory to use the services of an accountant. A trained person within your company may be able to meet the legal- and reporting requirements. If you decide to use an external accountant, make sure that your accounting firm is registered with the French organisation of Chartered Accountants “ordre des experts-comptables”. This will avoid you taking unnecessary risks. For more information on this service, visit our Chartered Accountant.page.

LAWYER

In most cases, a company registration doesn’t necessary require the services of a law firm. However, if your business is complex and require, for example, shareholder agreements or an industrial property, hiring the services of a lawyer is the right decision. Trying to save money by avoiding the services of lawyers may be a bad decision later on!

LEGAL PRACTIONER

A legal practitioner can provide you with the right services in drafting all necessary documents to incorporate and register your company and answer most of your questions about business incorporation. This is usually a cost efficient option that will save you time and money. For more information, visit our company registration page.

COACHING SERVICES

You will find many entrepreneur coaching services on the Internet to guide you and motivate you during this critical phase of making decisions and taking risks. A phase that often generates stress and sometimes block entrepreneurs given the diversity of new tasks.

BUSINESS INCUBATION CENTRE

A typical service for start-ups. More than just sharing office space, the business incubation centre will provide multiple services such as support from experienced coaches, access to a network of entrepreneurs, pooling of resources and especially the advantage of not having to start alone and isolated!

For more info on incubators, see APCE.

BANK

A company always needs a bank, even if it is only to open an account or get a loan. It is strongly recommended to contact one or more banks early on.

This is an excellent test to measure the readiness of your business.

Tip: opening a business account is not straightforward. In most cases the easiest and fastest way is to contact the bank where you already have your personal account.

MORE INFORMATION

Many information sources are available online. We highly recommend the APCE web site.

The Chamber of Commerce and your local authorities also have many services on offer, including helping you find out about financial support that you may be eligible for.

FROM HOME

Using your home as a business address is a possibility for a limited period as long as your home meets the necessary eligibility criteria.

The impact of this choice is financial of course as the first reason is to save money and avoid renting an office. That’s true, but you must also take into consideration that selecting your home has an impact of taxation and the city tax. Every business is subject to a tax called CFE (“Contribution Foncière des Entreprises”) which is determined by each city. The differences between the cities are often higher than the cost of renting a business address from a professional provider. Also bear in mind that the transfer costs when you move are quite high so using your home as a business address is not always the cheapest option.

If you want to know the amount of the CFE tax in your area, you can contact us.

RENTING AN OFFICE

You need full time offices for your employees, meeting customers or partners? Making the decision to rent offices is a major long term financial commitment. You must therefore look at the pros and cons carefully.

What commercial leases are available?

An office lease runs for nine years minimum, but you can terminate it ever 3 years with six months’ notice.
A short term lease is sometimes an option and could be used for a period of 2 years. At the end of 2 years, if you want to stay in your office, the you will need to sign up for the full nine-year lease.

FINDING AN OFFICE

You will typically find an office using traditional channels such as real estate agencies.

Remember to carefully calculate all upfront charges and fees related to the rental of an office such as office furniture, cleaning, computer equipment, and other costs that need to be included in your business plan.

The location, as always with real estate, is also the address. If you do not have the means to rent offices in a prestigious location, you always have the option to rent an address using a business address services. You then have the advantage of a prestigious address on your website, your business cards and your promotional materials for a very low monthly fee.

BUSINESS ADDRESS SERVICES

It is an alternative to seriously consider and which has many advantages if you don’t need to use office space full time. This website contains extensive information on business addresses services.

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