Tip 1: Define and analyze your project
To find out whether your project can be turned into a profitable, viable business in the long term, you first need to identify your motivations, then determine market needs and project feasibility.
Start by carrying out market researchto understand the demand in your field of activity, analyze the competition and determine your positioning and added value in this area.
Next, draw up a solid business plan which includes market research, a sales strategy, your company's short, medium and long-term objectives, and a financial plan (budget, expenses, projected sales, etc.).
Thanks to your business plan, you'll have a very clear vision of your project's future, and a credible basis for convincing the financial partners and investors you'll need to finance the creation of your company.
Tip 2: Choose your head office wisely
The next thing to define is your company's head office.
Entrepreneurs have three options:
- their own homes,
- rental premises,
- use a company domiciliation service.
While it's common for entrepreneurs to start their business from home, this is not necessarily the wisest course of action.
The address of your company's head office will appear on all your administrative documents and correspondence.
The office rentals is also popular in many cases. However, the cost of a commercial lease can quickly discourage small entrepreneurs, who do not have sufficient capital to devote such a monthly budget. As a result, access to major cities is quickly diverted to less reputable neighborhoods.
It's important not to neglect this notion of location, as it will reflect the company's image.
That leaves the option of commercial domiciliationwhich seems to be the best alternative for setting up a head office. At an affordable monthly cost, the entrepreneur benefits from an address in a prestigious business district.
This excellent visibility is accompanied by personalized services, such as mail management, a telephone answering service and access to meeting rooms. This represents a significant saving compared to renting an office, while providing a renowned address for your head office and tailor-made services.
Tip 3: Choose the best legal structure
With your business plan and market study, you now have a very precise idea of the value of your idea and the viability of your project. What's more, you've convinced and got on board the support you need to get started. Perfect!
This is followed by the most complex phase, requiring the most thoughtful consideration: the choice of legal status. Your company's legal status is of vital importance in setting up your business, as it defines its operation, liability, accounting obligations, administrative formalities and tax regime. So it's essential to ask yourself the question: what legal status should my company have? This choice will directly influence the structure and development of your business.
There are many different types of business. First, do you know whether you want to set up a sole proprietorship or a company?
Choosing a sole proprietorship or a company
By opting for a sole proprietorship, you are opting for great freedom of action through simple, low-cost management.
Since there are bound to be disadvantages, bear in mind that your personal assets will be entirely merged with those of your structure.
This is a considerable risk, as all your assets could be seized in the event of a debt. However, a declaration of unseizability with a notary is an option to avoid this situation.
You can also choose to set up a company. It's important to remember thata company is a legal entity, independent of its partners and of you as an individual.
This means that the manager's professional and personal assets remain separate, and that his or her own assets are protected in the event of a company debt. That said, the managing director is legally and criminally responsible for the company, and has a duty to always act in its best interests.
Would you prefer to set up a company? This choice will lead to another: to join forces or manage the company alone?
Don't hesitate to consult a professional to help you make these difficult decisions: a notary, lawyer or legal expert can advise you on the legal form best suited to your business project and your management requirements.
Tip 4: Get the right support for your business start-up
Launching a business involves many stages that need to be thought through and prepared in advance. Sometimes, the entrepreneur is confronted with fairly technical choices and administrative or tax formalities. That's why the right support at each key stage can be a real asset to success.
We've already mentioned domiciliation companies, which will help you set up your head office and provide you with tailor-made ancillary services such as telephone secretarial services, mail management and meeting rooms. These elements will give your company a highly professional image, and instill confidence in your customers and partners.
We've also just talked about the legal professionals who can advise you on your choice of legal form and help you with the obligatory administrative steps, which are more important when setting up a company.
They will enable you to :
- understand the complexities of your legal form (liability, appointment of managers and partners, etc.)
- draw up the articles of association,
- define and file the share capital,
- subsequently comply with all tax obligations (VAT, tax returns, social security contributions, taxation of profits, etc.).
If you're setting up a company, you're obliged to keep accounts. To ensure that your bookkeeping is accurate and error-free, you can also call on the services of another professional: an accountant or a chartered accountant. He or she will be there to advise you on a day-to-day basis, and ensure optimal financial monitoring of your business.
A wide range of professionals can help you make the right decisions at every stage of your business creation, increasing your chances of success.
Tip 5: Take the right administrative steps
Once you've decided on your legal status, you'll need to complete a number of administrative formalities.
First, you need to apply to register your company via the "guichet unique des entreprises" online business portal on the INPI website.
You'll then need to indicate your chosen legal form and complete the corresponding form. Be very careful when filling in this form: every decision you make and every piece of information you provide will determine the future of your business.
You will then be asked to provide supporting documents to build up the file, and the request will be forwarded to all the parties involved.
You will receive your K-Bis extract a few weeks later, which will formalize the creation of your company and its arrival on the market. This document will give you important information, such as your SIREN number, which you'll need to invoice your customers and declare your sales later on.
If you are setting up a company, you will need to complete other formalities:
- drafting the articles of association,
- appointment of the manager and the various partners,
- deposit of share capital by associates,
- publication of a registration notice in a Journal d'Annonces Légales (JAL) to formalize the creation of your company.
Aids and financing
Last but not least, don't neglect the financing and various grants you could obtain, which will greatly facilitate the launch and success of your business start-up project.
In particular, jobseekers can benefit from ACRE and ARCE, offered by France Travail, which provide a reduction in social security contributions and payment of all remaining benefits to build up start-up or social capital.
Entrepreneurs can also benefit from grants from their département or region, as well as subsidies to top up their personal capital. Contact your local government body for details of the assistance to which you are entitled.
