Starting a company is the first step for entrepreneurial people who have a certain competence or have a good business idea. This is a milestone for people who want to bring their new business idea to life, formalize or expand their existing business.
But dreams of starting a company can fade between the obligations, paperwork, and government processes of starting a company. These worries sometimes get in front of the main idea and can be overwhelming.
We have listed 10 important points that you need to pay attention to take this process, which seems complicated, step by step, in a simple way.
1 Determining the Company Name
According to the provisions of the trade name, you cannot take a previously registered title. Regardless of the company structure, you will establish, you should check whether the trade name you intend to choose is used by another business. You can inquire at the address here and check the rules you need to follow when choosing a name.
2 Dealing with Financial Advisor and Lawyer.
Experts recommend working with a lawyer, depending on the type of company to be opened. You also need a financial advisor who will keep your accounting records and file your tax returns. Make sure to sign a contract with both for proper guidance and smooth progress of official proceedings.
3 Making Preliminary Preparations
Before you start official transactions and go to the Trade Register, there are some things you need to determine.
place of establishment,
The purpose and subject of the company,
Items such as capital and partnership structure are the main issues to be considered when establishing a company.
You must do this before establishing a company your own business required licenses, approvals, training, and applications procedure for a better operating system.
All company establishment procedures are done systematically. The main contract is created that includes the subjects you have determined in the preliminary section. The contract created through the system is then printed out and approved by regulations.
5 Main contract
After you authenticate your articles of association, you must register them with the Trade Register. While doing this, you must ensure that all contact information is correctly stated in the articles of association and signature circular of the persons who have the right to manage and represent the company.
6 Tax Administration
The Trade Register notifies your approved registration and you need to register the name to Tax Administration, Income Office, and Social Security Institution as per your local regulations.
7 Social Security Institution Transactions
If you are going to employ personnel, you have to submit your workplace opening statement. You can also declare in advance the number of personnel who will work during the establishment phase of your company, their detailed information.
8 Company Employees
The tricks of establishing a company that will carry you to success are not limited to these. Your employees are the most important heroes that run your business and ensure its continuity and growth. You should choose the people who have the appropriate competence for your job and who are most suitable for your needs. While making plans to establish a business, how the team structure and teamwork will be is another issue that should be considered.
9. Target Audience and Location Selection
Location selection is very important for your business to stay in touch with its target audience. For example, if you are going to sell hot, the necessity of choosing a busy street is undeniable. You should analyze your target audience socially and economically and provide a way to reach your customers with an optimum cost-benefit ratio. For example, to sell products online to young people between the ages of 16-24, it would be an unnecessary cost to keep a place with a high rent on a busy street.
10. Company Cost and Revenue Account
“How to set up a company?” in mind. While there is a question, another important issue that has not been adequately addressed is the correct calculation of the costs to be incurred. Although a rough calculation is made by adding up rent, fixed expenses, and salaries, unforeseen or underestimated matters also create unexpected costs. At this stage, you can get advice from the past experiences of similar business owners and from people around you who have done their education on the business.
Similarly, you should have a revenue target to cover your costs and meet your growth goals. You should be able to give clear answers about when your investment will pay for itself and how much income you will have on a monthly and annual basis.
Establishing a Company in 2022 You can inquire at the address here and check the rules you need to follow when choosing a brand and follow your local law and regulations with the proper method.