First comes the business idea, and then the business plan.
Anyone setting up a company needs to start by investing money in the project. You can find out how much you need to invest by planning your capital requirement.
The Federal Republic of Germany, Germany’s individual Länder and the European Union all have programmes to support people setting up in business.
Every bank requires collateral for its loans. If the borrower lacks sufficient collateral, guarantees [Bürgschaften] can help. A guarantee guarantees the repayment of the loan and settles the debt when the loan is defaulted on.
Before you launch your new firm, you must deal with a few formalities and register your firm with the following authorities.
A legal structure is like a fixed platform for your company. You can select the right structure from various options. You have a choice between non-incorporated and incorporated firms.
As a businessperson, you must pay taxes.
As an entrepreneur, you are obligated to invoice your customers turnover tax and to pay such tax to the tax office within the scope of the regular advance turnover tax notifications.
You have to pay trade tax [Gewerbesteuer] once you have registered a trade.
Corporation tax (Körperschaftsteuer) is incurred on the profit of corporations (GmbH, AG) or cooperative associations.
Anyone generating or receiving income has to pay income tax [Einkommensteuer] (known as wage tax [Lohnsteuer] for employees, as it is automatically deducted from the salary).
A small enterprise does not have to pay any turnover tax to the tax office, if...
Incorrectly issued invoices repeatedly lead to delays in payments.
Plan your launch