Starting your own business? Where do I start? That is the question many entrepreneurs ask themselves when they want to start their own business. We have listed the 10 most important steps for you.
1. Research the possibilities
Starting your own business takes a lot of time and energy. When you want to start your own business, you have to think about a number of things. What kind of business do I want to set up? What am I going to make or sell? What services or products will I provide? Am I fit to be an entrepreneur at all? Look at the possibilities, write a business plan and test your qualities as an entrepreneur. Also important: do you know someone who is an entrepreneur? Talk to him or her. Ask about his/her experience. How does that person experience having his/her own business and what did he/she encounter while starting his/her own business? Make use of your network! Don't have an entrepreneur in your circle? Go to a local entrepreneur.
2. Market research and strategy determination
Find out what qualities you have in comparison to the competition. Also determine how you are going to put the product or service on the market. What makes your company different from the competition? How does your company distinguish itself from them? Who are your customers and what are their needs? In short: conduct market research and determine the strategy for the coming years.
3. Finances
Starting your own business requires investments and you need (your) money. With a financial plan, you map out how much money you think you will need and where you will get it. It also gives you insight into the opportunities for your business. This way you can estimate in advance whether starting your own business in the chosen sector is profitable for you.
4. Think of a company name
Before you can actually start, you must formulate a company name. A good company name is clear, sticky and tells what it has to offer. But beware: always research first whether a certain name is allowed and whether it is already fixed. It is also worth checking whether you can register the name and thus protect it against competitors.
5. What legal form?
In addition to the company name, it is also necessary to provide your company with a legal form. The legal form determines, among other things, the liability, the amount of tax you have to pay and the tax benefits. Below are a number of examples that are available for starting your own business:
6. Administration check
As an entrepreneur, you must keep good records. The administration provides insight into the amount of VAT you have to pay, for example. You can also choose to outsource this to specialised companies. As a starter, it is certainly worthwhile checking this out. Need help? There are several companies that can assist you with this or take care of the entire administration for you.
7. Which business insurances?
It is important to examine the business risks of your company. Cover these properly with insurance, for example. General terms and conditions can also cover a number of business risks. Make sure you are aware of this.
8. Check whether your company meets all requirements
To start your own business you do not need any special qualifications. However, you must take into account the laws and regulations, such as the zoning of the location and paying VAT. It is therefore advisable to do some research into this as well. Before starting your own business, it is advisable to visit the Chamber of Commerce for additional information. There are also special theme days where all matters are explained in detail.
9. Registration with the Chamber of Commerce
When everything is clear on paper, all you have to do is register your company at the Chamber of Commerce. During the registration process you will be immediately registered with the Tax Office.
10. Think Franchise!
A good choice in entrepreneurship is to start your own business in franchise form. In franchise, a lot of aspects are already fixed and you can focus faster on what is really important to you. Franchising is a form of entrepreneurship in which you take over the trade name of a (well-known) brand and join this company. With franchising, you remain an independent entrepreneur. A few examples of franchise formulas are McDonald's, Hema, New York Pizza, Bakker Bart, Blokker, KFC, Decorette and Hubo.
Starting entrepreneurs who start on a franchise basis have much less chance of going bankrupt than entrepreneurs who start completely independently. This is evident from the figures of the Chamber of Commerce. Yet only 5% of all starting entrepreneurs consider the possibilities of franchising.
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Today, brands like Uber, Airbnb, and Pizza Hut do not require any introduction thanks to their excellent services and customized on-demand apps.
A survey jointly conducted by Burson-Marsteller, the Aspen Institute and Time has revealed that at 42 percent of American adults (roughly 86.5 million people) have utilized the services of at least one on-demand company.
It is fair to mention that the domain of on-demand app development will thrive for coming years as entrepreneurs will try to leverage the growing on-demand economy.
Here we give a brief account of the most noteworthy trends to watch in 2019 and beyond for customized on-demand applications:
More Industry Sectors to Join
Intuit’s on-demand economy survey has revealed that around seventy percent of on-demand workers are satisfied with their job.
Today, brands like Uber, Airbnb, and Pizza Hut do not require any introduction thanks to their excellent services and customized on-demand apps.
The booming on-demand economy is ready to change the shape of businesses worldwide.
A survey jointly conducted by Burson-Marsteller, the Aspen Institute and Time has revealed that at 42 percent of American adults (roughly 86.5 million people) have utilized the services of at least one on-demand company.There are many reasons why on-demand app development is in demand across the world.
It is fair to mention that the domain of on-demand app development will thrive for coming years as entrepreneurs will try to leverage the growing on-demand economy.Here we give a brief account of the most noteworthy trends to watch in 2019 and beyond for customized on-demand applications:1.
More Industry Sectors to JoinIntuit’s on-demand economy survey has revealed that around seventy percent of on-demand workers are satisfied with their job.
It simply implies that the on-demand economy has the capability to retain the workforce while providing better ways to serving customers.
