How to start a company
In Austria
Your business idea
• New or different business idea („me too“)
• Taking over a business• Taking a Franchise
– Who will benefit?– Market?– Competitors?
• www.geschaeftsidee.de • www.nachfolgeboerse.at• www.franchiseboerse.at
Your Qualification
• Are you an entrepreneur?• Personal characteristics?• How do your family feel about this?• Expertise?• Do a test: www.gruenderservice.at
Business Plan
• Helps in decision making• Planning tool: Plan 4 You Easy• Minimum turnover calculation (how much
money must be turned over to make money?)• Business plan handbook
www.i2b
Type of trade
• „free“ or regulated?• Evidence of formal qualification– Individual qualification– Qualification exam– Managing director
under trade law
Legal form• Individual company
– Trade registration– Unlimited personal liability– P+L statement
• Partnership– 2 partners– Unlimited liability– P+L statement
• Limited liability company– € 35.000 base capital– Accounting liability– 25% corporation tax– 25% capital gains tax
The ideal legal form
• Does not exist, depends on:– Capital available, liability risk, size, taxes, etc.
• Individual company advantages:– Quickly established– One „boss“
• Partnership advantages– Shared risk– Mutual support,
complementing each other– Capital problem easier
Social insurance
• Mandatory for– Single businesses– Partners– Liable managers– Liable partners in a plc– Self-employed
entrepreneurs
Insurance
• Health insurance 7,65 %• Pension insurance 17,5 %• Insurance for the self-employed 1,53 %• Accident insurance 8,48 %• Unemployment insurance 6 %
Income tax
• Based on yearly profit• Between 0 % and 50 %• 11.000.- per year tax free• Quarterly advance payment• Tax free profit margin 13 %
(up to 30.000.-)
Turnover- or Value Added Tax
• On all goods and services provided• 20% of net price• Self-assessment• For small businesses:
Tax free up to € 30.000 turnover
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