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Setting up your own company
Do you have a project ?
When you are considering setting up a company or developing your line of business, there are several strategies to analyze as soon as you have clearly defined the nature of your business plan. Business magazines and advice from family and friends will come into play. The chartered accountant can also help you to verify your choice and ensure that no crucial stage have been missed out. You may be advised to buy a company rather than start up from scratch because it is more profitable for example. Whether you want to buy a business or a company's stocks and bonds, you will have to make major decisions concerning fiscal, social and legal aspects.
The first step in setting up or developing a company is usually to persuade your bank manager to back you if he is convinced by your project, your dynamism, don't forget he will need various administrative documents.
The credibility of your project will depend on the pertinence of these documents.
So you want to start your company ? Go ahead, but be well prepared. To succeed, you must be thorough. Your chartered accountant is there to be your main partner through out these various stages :
• The project
• Market research
• Study of possible aid
• Setting up
• Choice of legal structure
• Formalities
• Launching the project
• Useful addresses
Which grants ?
When setting up or taking over a company, you may find yourself being mesmerised by the number and nature of grants available. However, following careful analysis you will soon narrow down the list to a few which are relative to you. Don't necessarily look for a grant which will offer you a lump sum. Other financial aids which can exempt you from costs over the next 6, 12, 24, or 36 months are just as worthy of consideration.
Consultation Voucher / "Chèque conseil"
You will receive these vouchers both preceding and during the first year of setting up or taking over a company. They are intended to encourage consultation with professionals on the preparation stage, setting up or implementation of technical procedures within the company.
It's original
A serious information technology or computer problem, a personal worry, the accounts department can quickly become paralyzed if either the necessary back up measures are not taken in time or if the procedures are not formalized enough.
In this event, a chartered accountant can intervene. The main objective being to restore the accounting system.
Whatever the case, the bank accounts, the accounts receivable and payroll will always be a priority. These will be followed by the reconstitution and security procedures. These emergency interventions require close collaboration with the company.
The success of the emergency intervention will be measured by the fact that such 'hiccups' should go unbeknownst to the company's economic partners, along with a swift return to autonomy and particularly if the intervention is followed by a safety measure to guard against such an event recurring. But we are committed to its success.
It's new !
There is an increasing number of companies which are struck by the complexity of their social administration, whether they have implemented the 35 hour working week or not. Moreover, an accountancy department reduced to one person in many small and medium sized companies can prove to be very risky where any absence must be filled, more often than not, internally. Thus the necessity to take over effectively at any given time.
This is why the current trend for several companies is to outsource the payroll. However, beware whether you choose a computer service or a chartered accountancy firm, both must be very closely supervised.
It is strongly recommended to clearly define the objective and responsibility for each task; client - firm.
From the initial contract on employment to the final departure of the employee, very precise information must be recorded in a precise document.
This information should include sick leave, change in statute, salary increase, social contract etc. A complete salary file ensures the reliability of an assignment in its accuracy and thoroughness which may be subject to inspection by various administrations with which the company is in contact.
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