Setting up a business - Ways to self-employment

You wish to set up your own business?

If you are considering setting up in business, you should first check that you are personally in a position to do so. Run through the various tests that you can complete at home. Such tests are available here, for example, in the BMWi (Federal Ministry of Economics and Technology) start-up portal or in the “Starthilfe” brochure, available free of charge from the BMWi. Also, get sound advice before you take the plunge. Ask for information from the chamber of industry and commerce, for example. And ask the chamber about specific advice services for foreigners setting up in business.

Important preconditions for starting up a new business:

Language skills

You will certainly find life easier if you can get by in German. And you will be enhancing your new company’s chances of success: for example, you can share information with and about your customers and suppliers, or find out in the newspapers about important developments affecting your market. So take advantage of the services of the language schools and attend a language course.

Professional qualifications

It is true that some businesses are set up without any prior expertise but have an amazing business idea and grow into successful companies. But for the most part, no matter whether you will be manufacturing a good or providing a service: you need to know your stuff.

Professional experience

If possible, you should be able to draw on several years of professional experience in order to know your work, your sector and your market as well as possible, and to be able to motivate and lead your employees.

Commercial expertise

Being an expert in your field does not automatically make you a good businessperson. You should also have (or acquire) expertise in accounting, costing, pricing, etc. Anyone lacking qualities in this area can turn to a wide range of training services, e.g. from the chambers of industry and commerce or the chambers of crafts.

Further information in German version:

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