For some people, starting their own company is a dream come true and a way to derive satisfaction from work. Having no boss and a higher income are alluring for an ever growing number of people. How to avoid mistakes and successfully start your own business? Here are a few tips.
First of all, find out about financing
Those who’d like to start a business can apply for Labor Office financing. Grants up to PLN 20 thousand are available after registering as an unemployed person and submitting the appropriate application. Remember that there may be separate policies for various offices, so you should review it first.
Young entrepreneurs are entitled to a so-called start-up relief. This releases you from paying social security contributions for the first 6 months of running your own business. When this period ends, company owners can take advantage of a reduced social security rate for the next 24 months.
See also: Who is coworking meant for?
Second, operate online
Don’t waste time in queues at offices, if not absolutely necessary. Try to get as much done via the Internet as possible. This is easier and simpler. You can register your company in the Central Register and Information on Economic Activity (CEIDG) at firma.gov.pl or ceidg.gov.pl. You need a trusted profile for this purpose, but do not worry, you can create one with your bank (without leaving the house).
Third, choose an accounting company
Finance is one of the most important aspects of a company. So instead of choosing just any accounting office, conduct thorough research. Ask your friends, look for opinions on the Internet, research who you want to work with. You would not want to be stressed by the lack of information from your accountant every month, would you?
Fourth, deduct costs
Cost deduction is a privilege that may and should be used by every entrepreneur. At the beginning of doing business, this possibility is frequently used very modestly. But it is enough to read up on how costs actually work to stop worrying. Implementing systematic deductions from the first days of running a company will prove worth your while.
Did you know…
Costs may be deducted throughout the tax year. You can deduct the tax from an invoice in the same month or quarter that you receive the document, or within the next two (without VAT return correction).
Fifth, open a bank account
Choose a bank (preferably one where you can get most things done via the Internet) and open a company account. Consider whether an additional VAT account would work for you. The VAT amount from each invoice would be wired to that account. When you settle accounts, you transfer money from the business sub-account instead of wondering where to get it.
You will need a company stamp for signing most documents. This is a good time to get one made.
Read also: Five rules of a successful business meeting
Sixth, find an office
All the documents are submitted, your accountant is waiting for the first invoices and you would like to celebrate starting your business? There is one more thing. Find an office. A place where you will be able to work peacefully and efficiently. If you do not want to buy anything yet or be bound by a long-term lease contract, consider a coworking office. Many young entrepreneurs use coworking offices and they are happy with such a solution.
Looking for an office for your company? Click here!