Jolles & Ko Accountants

Starting a company

Starting a company 

in principle, the following steps should be taken for starting an company: 

1) set up a business plan

2) choice of the legal form

3) registration with the Chamber of Commerce

4) Notification to the tax authorities

5) Start-up financial administration .

6) insurance

 

1) set up a business plan

We recommend to write a business plan. The Chamber of Commerce has a good guide for this. This guide can help you determine whether the potential entrepreneur has the desired qualities (strengths and weaknesses) and what opportunities and threats are (SWOT analysis). In addition, a thorough financial section has to be worked out (budget of revenues and costs, resource requirements). The business plan should, in principle, also acts as a basis for a possible request for financing at a bank. Jolles & Ko supports its clients, if desired, in drafting a business plan.

 

2) choice of legal form

Before a company is started, first has to be decided in what form this is exercised, the legal form. The legal form is not only important in relation to liability, but also affects the tax liabilities. 

There can be chosen for a sole proprietorship, where the entrepreneur as the owner of the company is liable for the profits from enterprise. For these entrepreneurs there are all sorts of tax facilities. The entrepreneur remains (private) liable for the debts of the enterprise. 

An alternative is to set up a private limited company (E.g.) in which the enterprise is starting up. This legal entity is the owner (shareholder) in principle not (private) liable for the debts of the enterprise. 

There are in addition to the two above several other legal forms. The choice of legal form is customization, where Jolles & Ko can help you with the choice.

 

3) registration at the Chamber of Commerce

Almost every company must be registered in the commercial register at the Chamber of Commerce. For subscription, the trader may contact the Chamber of Commerce.

 

4) Notification to the tax authorities

Sometime after the registration at the Chamber of Commerce, the entrepreneur/company receives a form from the tax authorities ("Opgaaf gegevens startende onderneming"). Based on entered data determines the tax office then for what taxes you apply:

  • Income tax
  • Corporate income tax
  • Sales tax
  • Payroll tax (if you have employees)

Optionally Jolles & Ko can support you with the completion of the form.

 

5) Start up financial administration

A company is required to keep records. The decor of the Administration is depending on the type of business. Jolles & Ko guides you in setting up and conducting your records if you wish.

 

6) insurance

It is recommended that in the initial running phase of the start-up of a company you contact your intermediary insurance person. We think in particular of insurance for disability, fire and business interruption, vocational and business liability and legal aid.

 

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