How to start a business from scratch: 11 essential steps
Oct 27, 2024 3:23:18 GMT
Post by lizakhatun1122 on Oct 27, 2024 3:23:18 GMT
In this guide we are going to teach you how to create a company in Spain from scratch , with a series of essential steps to increase the chances of success.
Table of Contents [ Disguise ]
1 Decide on the legal form of the company
2 Define the business model
3 Market research
4 Internal analysis
5 External analysis
6 SWOT Analysis
7 CAME Method
8 Definition of objectives
9 Action plan and budget
10 Implementation and evaluation (KPIs)
11 Contingency plan
Deciding the legal form of the company
The first step to legally creating your company in Spain is to decide whether the company will be a self-employed company , a Limited Company (SL), or a Public Limited Company (SA).
Each form has different legal and tax requirements, so we will detail the advantages and disadvantages of each.
Autonomous
Advantages
Simplicity in incorporation on page seo service and management : no minimum capital or public deed is required; you only need to register with the corresponding IAE and with form 036 or 037 of the Tax Agency .
Complete control : The entrepreneur has complete control over business decisions.
Taxation : possibility of benefiting from certain tax deductions, such as the flat rate for new self-employed workers.
Disadvantages
Unlimited liability : the entrepreneur is liable for debts with his or her personal assets.
Difficulty obtaining financing : It may be more difficult to obtain large loans.
Progressive income tax brackets: the more you invoice, the higher percentage you will have to pay in your Income Tax Return.
Limited Company (SL)
Advantages
Limited liability : partners are liable for debts only up to the amount they have contributed.
Corporate image : may be perceived as more professional or stable in front of suppliers and clients.
Distribute profits : possibility of distributing dividends among partners.
Disadvantages
Minimum capital: at least 3,000 euros are required for its incorporation.
Greater administrative complexity: requires more procedures than the self-employed regime.
If you decide to set up a Limited Company, you must follow these steps to create an SL :
Obtain a certificate from the Central Commercial Registry confirming that your company name is unique.
Request a provisional Tax Identification Number (NIF) from the Tax Agency and register for the Economic Activities Tax.
Open a bank account in the name of the company and deposit the minimum required share capital ( 3,000 euros for a Limited Company, for example).
Prepare the bylaws , an essential document in which you will define the company name, registered office, capital, among others.
Sign the articles of incorporation before a notary . This document includes the details of the partners, the company' activity, the share capital, etc.
Register the company in the Commercial Registry of the province where the registered office is located.
Once registered, you must obtain the definitive NIF from the Tax Agency . In addition, if the company will have employees, it is necessary to register it with Social Security.
Depending on the type of activity, it may be necessary to obtain specific licenses or permits from the city council or other authorities.
In addition to this, if you choose to create a Limited Company (SL), you will have to:
Comply with the personal data protection law. You must ensure that you comply with the data protection regulations ( RGPD ).
Keep your official and accounting books up to date , such as the journal, inventory book and annual accounts, etc.
Complete the relevant tax returns , such as VAT, corporate tax, personal income tax withholdings, etc.
Public limited company (P..)
Advantages
Suitable for large projects : ideal for companies with large capital needs.
Access to capital markets : possibility of listing on the stock exchange and access to investors.
Limited liability : shareholders are only liable for the amount they have contributed.
Disadvantages
High minimum capital : a minimum of 60,000 euros is required.
Complex management and structure : requires governing bodies such as a shareholders' meeting and a board of directors.
It is important to seek proper advice, as each step has its own particularities and may vary depending on the type of company and activity.
In addition, there are aspects such as tax and accounting planning that are crucial for the legality of the company in Spain .
Therefore, although it is a somewhat tedious and unpleasant process, you must first establish your legal form to get your business off to a good start.
There are other legal forms such as the Single-Member Limited Company (SLU) or the Cooperative Company , but they are less common and more tedious to establish.
Define the business model
From a marketing perspective, the first step in creating a company is a clear definition of the business model.
This process begins with identifying the company' unique value proposition :
What problem does it solve?
What needs does it satisfy?
Why it is different or better than existing solutions.
Who is the product or service aimed at (target audience or market niche)
How will they be delivered (distribution channels)
The economic structure is also part of the business model.
Table of Contents [ Disguise ]
1 Decide on the legal form of the company
2 Define the business model
3 Market research
4 Internal analysis
5 External analysis
6 SWOT Analysis
7 CAME Method
8 Definition of objectives
9 Action plan and budget
10 Implementation and evaluation (KPIs)
11 Contingency plan
Deciding the legal form of the company
The first step to legally creating your company in Spain is to decide whether the company will be a self-employed company , a Limited Company (SL), or a Public Limited Company (SA).
Each form has different legal and tax requirements, so we will detail the advantages and disadvantages of each.
Autonomous
Advantages
Simplicity in incorporation on page seo service and management : no minimum capital or public deed is required; you only need to register with the corresponding IAE and with form 036 or 037 of the Tax Agency .
Complete control : The entrepreneur has complete control over business decisions.
Taxation : possibility of benefiting from certain tax deductions, such as the flat rate for new self-employed workers.
Disadvantages
Unlimited liability : the entrepreneur is liable for debts with his or her personal assets.
Difficulty obtaining financing : It may be more difficult to obtain large loans.
Progressive income tax brackets: the more you invoice, the higher percentage you will have to pay in your Income Tax Return.
Limited Company (SL)
Advantages
Limited liability : partners are liable for debts only up to the amount they have contributed.
Corporate image : may be perceived as more professional or stable in front of suppliers and clients.
Distribute profits : possibility of distributing dividends among partners.
Disadvantages
Minimum capital: at least 3,000 euros are required for its incorporation.
Greater administrative complexity: requires more procedures than the self-employed regime.
If you decide to set up a Limited Company, you must follow these steps to create an SL :
Obtain a certificate from the Central Commercial Registry confirming that your company name is unique.
Request a provisional Tax Identification Number (NIF) from the Tax Agency and register for the Economic Activities Tax.
Open a bank account in the name of the company and deposit the minimum required share capital ( 3,000 euros for a Limited Company, for example).
Prepare the bylaws , an essential document in which you will define the company name, registered office, capital, among others.
Sign the articles of incorporation before a notary . This document includes the details of the partners, the company' activity, the share capital, etc.
Register the company in the Commercial Registry of the province where the registered office is located.
Once registered, you must obtain the definitive NIF from the Tax Agency . In addition, if the company will have employees, it is necessary to register it with Social Security.
Depending on the type of activity, it may be necessary to obtain specific licenses or permits from the city council or other authorities.
In addition to this, if you choose to create a Limited Company (SL), you will have to:
Comply with the personal data protection law. You must ensure that you comply with the data protection regulations ( RGPD ).
Keep your official and accounting books up to date , such as the journal, inventory book and annual accounts, etc.
Complete the relevant tax returns , such as VAT, corporate tax, personal income tax withholdings, etc.
Public limited company (P..)
Advantages
Suitable for large projects : ideal for companies with large capital needs.
Access to capital markets : possibility of listing on the stock exchange and access to investors.
Limited liability : shareholders are only liable for the amount they have contributed.
Disadvantages
High minimum capital : a minimum of 60,000 euros is required.
Complex management and structure : requires governing bodies such as a shareholders' meeting and a board of directors.
It is important to seek proper advice, as each step has its own particularities and may vary depending on the type of company and activity.
In addition, there are aspects such as tax and accounting planning that are crucial for the legality of the company in Spain .
Therefore, although it is a somewhat tedious and unpleasant process, you must first establish your legal form to get your business off to a good start.
There are other legal forms such as the Single-Member Limited Company (SLU) or the Cooperative Company , but they are less common and more tedious to establish.
Define the business model
From a marketing perspective, the first step in creating a company is a clear definition of the business model.
This process begins with identifying the company' unique value proposition :
What problem does it solve?
What needs does it satisfy?
Why it is different or better than existing solutions.
Who is the product or service aimed at (target audience or market niche)
How will they be delivered (distribution channels)
The economic structure is also part of the business model.
