STEPS TO CREATE A BUSINESS
1. Assuming you have a clear idea:
It's the first thing to take into account and may be decisive for the success or failure of the company. Even the seemingly simplest business may end up before because of an ill-defined or poorly developed. The idea should be presented as realistic and viable. It is not about finding a business that revolutionized the market, but to detect an opening, an opportunity that no one has taken.
2. Business plan:
Is to translate the idea into a synthesized paper, but still loose ends, making it clear that the company aims to achieve and how you achieve it, ie, the strategy used. Allows you to review and plan the technical, financial and economic project. Must be above all realistic and take into account the economic environment and market in which to compete. It is also the calling card for the employer to potential partners, entities, investors ...
The entrepreneur, in any case, you must gather all information that may be related to the implementation of their business, so there is no loose ends in its constitution.
Should include:
• Be clear what the market is targeted and who will be potential customers. Identify the main points of the market, its growth forecasts, competition, structure, segmentation. Provide barriers to entry, competitors ... should all laws applicable to the activity that will develop the business and permits and approvals to be processed.
• Description of company and product or service you are doing
Refer experience and objectives of the product or service. If you have a patent or trademark, the firm's location and the criteria by which you have chosen.
• Market research.
Demonstrate that there is a business opportunity. Serve as a basis for designing strategies. It is a research based on external data. Be clear what the market is targeted and who will be potential customers. Identify the main points of the market, its growth forecasts, competition, structure, segmentation. Provide barriers to entry, competitors ... should all laws applicable to the activity that will develop the business and permits and approvals to be processed.
• Marketing Plan.
Leave more or less clear how we will sell the product. Policies, strategies to disseminate market and how to motivate the potential customer to come to our company. Define the coverage of the market to be performed. Analyze the need for brokers or dealers. Develop a list of potential customers. Describe the techniques of selling, discount policies and forms of payment. Establish lines of advertising and public relations. Designing marketing campaigns with their goals.
• Definition of technical means.
Establish the technical means needed to start a company, its cost and its financing. Should be completed with a purchase plan to plan the management of purchases and storage.
• Organization and human resources,
Serve to define the organization and distribution of tasks, jobs and the corresponding role and responsibilities. Do not forget that the main asset of a company is its human capital. Once selected employees should seek advice on the mode of recruitment should take more in each case taking into account current legislation and tax incentives provided by various contracts.
Economic and financial study
It is necessary to determine what the funds needed to launch the company and how to get the capital. That will define the financial structure of the company and its profitability forecast, at least in the medium term.
• Formal and legal aspects
Administrative and legal requirements that must be completed in order to form the company and the tax scheme to be submitted. The natural person performs in his own name his business. It is the sole owner of the company that manages and directs and receives full benefits. The entity: Organizing a group of people who develop the functions of the business.
• Procedures
Once chosen the legal form is the process of creating the company. Established procedures are cumbersome, but are not difficult. Whatever the legal form adopted, we must ask the City Council or Municipal Board for a municipal license to open (Licensing of activities and facilities.
Therefore, we recommend that before signing any contract for hire or purchase, the City Council request a consultation on the feasibility of developing such activity at that location. If the local needs reform will require, in addition, a Construction License. If adopted by the shape of an individual entrepreneur: The main requirement is to be of age and have free disposal of assets.
In its timing, will be:
1. Settlement Statement-tax personal income (income tax).
2. Declaration of the liquidation-value-added tax (IVA).
If you were to hire workers:
1. Registering the company with Social Security.
2. Membership and workers high Regime for Social Security.
3. Communication opening work center.
4. Tuition and books visit. If adopted by the form of a company (legal person): Prerequisites: the legal form most used is the Limited Liability Company (SL), which must have a minimum capital de3.000 Euros, fully subscribed and paid up. Company requires a minimum capital of 60,000 Euros.
Key Steps: Each society has a kind of formality. As an example, we reviewed the Limited Partnership as the most common:
1. Negative name, proving that the name chosen does not already belong to another corporation.
2. Proof of deposit of the share capital.
3. Granting of the relevant public deed before a notary.
4. Payment of capital transfer tax and documented legal acts.
5. Registration in the Register. High in the Income Tax.
6. Statement of commencement of census activity.
On a timely basis will be:
1. Declaration-liquidation tax personal income (income tax). Declaration-of-liquidation value added tax (VAT).
2. -Declaration of Income tax clearance. - If you hire employees: The same steps as in the form of an individual entrepreneur.
3. Lots of information and above all be clear about the concepts, you can not be any escape.
CHOICE OF TYPE OF BUSINESS
THE BUSINESS PLAN
ELECTION TYPE OF BUSINESS
The type of business to start is the starting point for any business project. Many factors can lead a person to opt for a particular business. In general, it can be settled by any of the following factors:
• Opportunities for business in markets served little, new or with high growth potential
• Technical knowledge on markets, sectors or specific business
• Simplicity of business
But other factors such as technical or economic level required by some businesses that act as a deterrent in many cases.
Once you define the idea and before entering the analysis of the business plan, the promoters should be raised a few questions:
• Is this a realistic idea?
• Is it technically feasible?
• Is it feasible from an economic point of view?
• Is able to tackle it?
• His return justifies the effort to implement it?
But undoubtedly the most important factor is the enthusiasm or confidence that developers have the idea. That is why every employer should collect some of these qualities:
• Confidence in themselves and enthusiasm in the project
• Learn to choose their partners
• Ability to organize and coordinate economic, human and material
• Ability to lead and motivate staff
• Ability to make decisions and take risks
• Initiative and innovation
THE BUSINESS PLAN
Can be defined as the document that will reflect the content of the business plan that seeks to launch and run from the definition of the idea to develop a concrete way to implement it. It is therefore an ideal tool to be able to monitor the development of business, analyzing and comparing results and forecasts. Moreover, when applying for any type of cooperation, assistance or financial support, the Business Plan will serve as a calling card for the business plan, to banks, institutions and potential partners, in addition to putting out the rigor and professionalism the promoters.
MODEL BUSINESS PLAN OUTLINE.
1.-business project objectives and presentation of the promoters
• Definition of the general characteristics of the project to start
• Summary of project: total investment, resources and others, projected sales, estimated results, location ...
• Provision of promoters, such as training, business experience ...
2.-The activity of the company's product or service
• Defining the characteristics of the product or service that will be the company's activity
• Market to target and needs to cover
• Characteristics Differentiating with respect to products or services in competition
• Rules governing the manufacture or marketing of the product or service
• Legal protection
3.-The market
• Definition of the market that will target the product or service: size, location, use, structure, type of customer, market and real market potential
• Forecast market developments
• Competition: identification of competitors, the same characteristics, market position, strengths and weaknesses of the product or service with the competition, this reaction to the entry of the new company in the market ...
• Participation in the market expected
4.-marketing
• Presentation of product or service
• Determining the selling price
• market penetration, distribution channels, sales network • Actions to promote advertising, catalogs, discounts ...
• Sales Forecasting
• Warranties, service, after-sales service ...
5.-Production
• Identification of manufacturing process
• Selection of facilities and equipment
• Procurement; raw materials, suppliers, supply base ...
• Management of stocks, raw materials, intermediate products ...
• Quality Control
6.-Location
• Criteria for the location
• Land, buildings and facilities
• Communications and Infrastructure
• Government support for localization
7.-People
• create jobs
• Distribution of categories and assignment of responsibilities
• Profiles of people to recruit, knowledge, experience ...
• Selection of staff
• Forms of engagement
• Projections of employment growth
8.-Funding
• Economic requirements of the project's own resources and others, aid ...
• Identification and selection of funding sources, banks, private banks, leasing companies ...
• Financial plan, investment project, anticipated cash flow, income statement forecast, forecast balance sheet ...
• Project Profitability
9.-formal aspects of the project
• Choice of legal form
• Administrative formalities to
• Obligations of the company, accounting, tax, labor ....
ACQUISITION OF RESOURCES
Securing resources is a necessity not only when you start the activity, but it is often an ongoing need. So we must distinguish between the debt financing, in which the employer undertakes to repay the amount owed plus interest requirements, and funding resources, which receive contributions of funds, a shareholding company , with the possible loss of control that it can cause. We must not forget the aid.
DEBT FINANCING.
.- The Commercial Banking Commercial banking has developed in recent years a number of financial products to finance investment projects of SMEs: credits, loans, lines of credit and discount shopping. For higher volume of business projects, commercial banking has another set of resources to facilitate access to capital markets: notes, bonds, stock market exits, investment partners, etc.. In this regard it should be noted that a large commercial bank is subscribing to the various government a series of cooperation agreements in order to establish lines of credit for business investment soft.
Public Banking .- In Spain, the Administration, through the Instituto de Credito Oficial (ICO), the European Investment Bank (EIB) and the public banks (Argentaria), has launched a series of financial support measures for SMEs consisting essentially, running lines and preferential loan interest rates subsidiación to undertake productive investments.
The ICO (Instituto de Credito Oficial) have multiple funding lines for 2009, whose purpose is to encourage and support investments of Spanish companies (entrepreneurs, sole traders and SMEs). Requested in the banks, which are responsible for analyzing the project and approve the granting of loans.
The funding bodies tend to operate as credit institutions, although often used to finance consumption. Although their rates are often higher than those of banks, is negotiating advantage for each course individually raised and minor requirements, guarantees and granting time.
It is all the Leasing.-leasing contract which allows for a movable or immovable property by lease with an option to buy at the end of the period in question. Very attractive for its favoritising tax treatment, but has a higher financial cost.
Mutual Guarantee Societies .- Its main functions are:
• Giving guarantees to enable SMEs to access bank financing.
• Facilitate access to business lines, supported privileged.
• Set up information and advisory services to entrepreneurs
Factoring .- The system is little used in Spain and generally restricted to large enterprises. Consists essentially in the transfer or sale to a factor or a lender (usually a financial institution) of the outstanding accounts receivable by the company. The assignment is to pledge the accounts receivable as collateral for a loan to the employer by the factoring company, a loan which in turn will result in the payment of interest and commissions. While the sale is to sell the lender or factor accounts receivable from customers, assuming this responsibility of collection of them, in exchange for the charges and interest set by the service.
The Confirming .- Because it is to manage the payments of a client company to its suppliers, offering them the possibility of charging your bills before the due date (finance).
The fortaiting. It is a figure that represents the purchase of accepted bills of exchange, documentary credits or any other form of promise of payment instruments in foreign currencies, against which has been opened a letter of credit. Unlike confirming, is used in the medium term (one to seven years).
The issuance of debt securities .- This is done by bonds and notes. SMEs can use, but its enormous cost and difficulty of finding subscribers make it extremely difficult.
financed by own resources
Is that capital is permanently invested in the company.
Investors or partners .- Our partners are paid in our society that can consist of income from profit sharing, material gains by selling their shares to other members, or capital gains from the sale of the company. Investors or partners are the most important source of funding to start a business.
Venture capital .- This is an investment in the temporary capital of SMEs in order to ensure the business succession.
The went public .- This is usually adopted by large companies. In Spain there are two types of markets: one for companies of more than 200 million of equity capital, a minimum of 100 shareholders and a return on capital of 6% in the last two years and the second for companies with a minimum capital 50 to 1000 million.
3. public aid.
Aid for government agencies vary, but we are not always entirely positive:
• Direct aid to the recruitment of workers
• Increases the contributions to Social Security
• Tax incentives
• Financial Aid
• Business Consulting
• Investment grants
• Aid to the promotion of innovation
• Support for improving competitiveness
• Aid to Research and Development (R & D) ...
It should be reported in all the administrations before and after mounting our company, European, state, local or regional. All the features of our society influence to obtain assistance (legal form, age and sex of the partners, contracts, etc.).
Types of Business - Legal Constitution: One of the first decisions taken by the promoter or promoters of a new company, having examined the business plan and feasibility analysis, is the choice of legal form to take (self, civil society, limited, anonymous ...). Here's a comparison with the major legal forms and some of the data to take into account when making your choice.
No. TYPE CAPITAL PARTNERS RESPONSE.
SELF 1 No Minimum initial Unlimited
CIVIL SOCIETY There are 2 or more Unlimited Minimum initial
Community property does not exist 2 or more Unlimited Minimum initial
COMPANY LIMITED € 1 3,006 Limited contributed capital
NEW COMPANY LIMITED COMPANY 1
Maximum 5 min € 3012
Max. Limited to € 120,202 capital contributed
SOCIETY ANONYMOUS € 1 60,101 Limited contributed capital
COMPANY LIMITED LABORAL 3 3,006 € Limited contributed capital
SOCIETY ANONYMOUS LABORAL Minimum 3 € 60,101 Limited contributed capital
Minimum 3 € COOPERATIVA 1803 Limited contributed capital
data for the record made at the time of the election.
ACQUISITION OF RESOURCES
Here are some points to consider:
1.-Type of Activity .- The exercise activity that will develop the company can make the choice of legal form in cases where the applicable rules established in a particular way. These exceptions to the general rule of freedom of choice. Thus, travel agents in Madrid must be formed as a corporation (or limited stock) and some authorities exclude certain forms to apply for legal aid and grants.
2.-Number of promoters .- The number of persons involved in the activity may affect the election. Thus, when several developers, it will be advisable to society. However, we must remember that it is possible to form a corporation, limited or limited company, with only one partner.
3.-Responsibility advocates .- This is an important aspect. Liability for the debts is limited to the contributed capital (corporations, limited ...) or unlimited (autonomous civil society and community property), occurring in the latter case both the business and the personal property when the business is not sufficient to meet their obligations.
4.-Economic needs of the project .- In principle, civil societies are cheaper in the constitution because there is no need to be entered on the Register and therefore do not have to go through the notary. Moreover, no minimum initial capital required. However, the Limited Partnership, the Limited, and Industrial Societies Cooperatives Working affidavit deed and require a minimum capital to start. However the initial outlay can be offset if the aim is to limit liability to that future capital and thus to protect our personal assets.
LEVEL OF THE CONSTITUTION complication *
1 Professionals
Self
2 Civil Society
Community Property
3 New Limited Company
Limited Company
4 Co-operative Society
Society Education
* 1 Since the required less paperwork and that for 4 more.
5. Tax aspects .-The fundamental difference between societies and is on the tax through the income tax in the case of autonomous civil society and community, or through the tax on other companies . In the personal income tax applies a progressive tax rate will rise as they increase profits. In the tax applies a flat rate of 35%.
6.-Image to clients .- Many customers and vendors will be set in the legal structure of the company to determine more or less stay the same and, therefore, the greater or lesser reliability. Corporations (or limited stock company) give greater sense of permanence.
The tax liability of the employer are:
Before beginning the activity:
• Present the statement census (model 036)
• Register in the Income Tax (in the previous 036 model if you are exempt from paying tax if and models 840/848)
Once the activity:
• If you make payments subject to withholding, either by having employees or payments to professionals, whether paid by income from movable capital (models 110 and 190).
• You must perform the annual statement of transactions with third parties during the month of March when the previous year have done business with another person or entity as a whole have exceeded the 3006 Euros (model 347).
• You must submit the VAT returns! New for 2009!
• You must declare your income:
If the tax or income tax, must make quarterly payments on account (130 and 131) and the annual income tax statement (Form D-100)
If the tax or corporation tax must make quarterly payments on account (model 202) and an annual tax on companies.
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