Starting a business is a project that requires preparation and strategic choices. To be successful in your business building project, you must follow certain steps. From the idea of creation to the realization stage, there are actually processes you must follow so that your business is viable in the long run and has a legal existence.
The entire process specifically deals with the steps to be taken, administrative and legal documents to be received and various declarations to be made for compliance with the law. As part of this process, if you don’t have the necessary skills to do so, you can call on a firm specializing in business building. Here are the steps to start a business.
legal notice
A duly formed company must be the subject of a legal declaration in an official journal. Legal notice is nothing more than legal publicity. It is the responsibility of any business manager to Make public some information that is of interest to partners and third parties. These include public authorities, competitors, customers and suppliers as well as local residents.
The associates of the company should also have some important information related to the company. During its existence, all major decisions directly affecting the company’s activities must be the subject of a legal declaration: capital increase, change of manager, change of position, merger, acquisition, etc. purpose is also Make your management transparent to everyone who is likely to be interested,
A legal notice contains a certain amount of mandatory information. To draft it, I recommend that you find out the mandatory information that concerns you, based on the legal form of your company. he exists Exclusive models you can download online, Its drafting also has to comply with certain formal conditions. Once drafted, it should be put in the official journal of your area or department where the company is domiciled.
The integration rate is fixed every year by the Ministry of Finance and can be viewed online on the website of the service providers in a table prepared for this purpose. If you want to know the rates applicable to your company, you can refer to this table Prices by department, region and type of company,
market research
This step is essential in a business building project. Market research allows you to test your idea to measure the risks before you get started. It tells you your chances of success as well Parameters to be taken into consideration before executing the project, It also helps you gain valuable insight into your target market, the needs and expectations of your prospects. It is this data that helps you set business goals and build your strategy. Many companies have gone bankrupt due to neglect of this step. Market research specifically allows for:
- Ensuring the existence and behavior of customers,
- Define your products or services according to customer needs and expectations,
- Set your selling price according to purchasing power and prices charged by competition,
- set your margins,
- Develop your business policy: method of distribution, sales techniques, means of communication, etc.
This study also allows you to forecast your turnover and make your projections in the future. It gives you detailed information about the demand, features of the various offers available on the market and the status of the competitors. You also get reliable information on your socio-economic, political, professional, legislative, social, etc. environment. However, for efficiency you can do this study yourself, I suggest you hand it over to a specialized firm,
business plan
This document is essential for your future financial partners, mainly banks. It explains your business opportunity, your business, strategic goals and action plans. It also specifies your financial goals and means of achieving this, The business plan is a description of your entire project over the next three years.
This is a document which is not fixed, as you will have to revise it regularly to suit the ground realities. It is like your dashboard, as it serves as a benchmark for you and your teams. This is the document you’ll come back to regularly Compare forecasts and achievements and adjust your goals, Business planning is a powerful tool for communication with various partners, especially financial partners (bankers, investors, suppliers, etc.). This is usually the first thing they ask for before starting a relationship with you. In such context, the business plan should be designed on a realistic basis to convince the partners above all.
It should highlight your opportunities and your financial strength to reassure your prospective partners. They do not use it to judge you, but to assess your business and financial ability to make an offer suitable for your business (liquidity, lending or leasing, means of payment, foreign exchange, terms of payment, distributed to know the quantity required). , Etcetera.). should also Highlight your potential return on investment to convince potential investors, They must be confident that your project is profitable in the long run and that the risks are minimal from the start.
As this document is particularly technical, I recommend you entrust its writing to an expert. It must be precise, direct and follow a defined pattern in order for it to be read by the participants. Also know that as an entrepreneur, You will never be taken seriously without this document which is essential,
company Registration
This step, which is also mandatory, is an administrative and legal process that allows you to register your company with the authorities. This process is to be done with the National Directory of Enterprises (RNE). and the Business Formalization Center (CFE).
The purpose of registration is to provide proof of existence of your company and to inform the public about its actual existence. Only registration with RNE entitles your company to practice. it has been realized A unique siren number assigned to you, This registration number issued by INSEE accompanies almost all the documents of the company. You register in the provident fund from this number. It is also used in using declarations.
Declaration also gives you the right to quote Kbis issued by the Clerk of the Commercial Court. It is the registration which provides the legal personality of the company and specifies its legal form. It also gives it rights that are different from yours if it is a sole proprietorship. It is thanks to the announcement that it reaches commercial properties, Furthermore, an unregistered company does not legally exist.
register name
Once the company name is selected, you need to submit it to the National Institute of Industrial Property (INPI). You must first ensure the availability of the name. The purpose of this process is Protect your brand name against misuse and imitation, If a business in the same industry as you uses that name, you can take unfair competition action against them. If you provide proof that your name was previously registered, the other company may be slandered and will not have the right to practice with that name.
Registering the name also protects you from forgery and allows you to protest any misuse of the name without justifying yourself. Name registration is not an obligation, but This is necessary for your safety,
local election
Once the company is established, it needs premises. It is the head office that will form the premises of the company. Whether it is a business of goods or services, you will choose the location accordingly. It is through the head office that customers and partners will find you. The location should be ideally suited for your business allows you to get visibility, For the sustainability of your activities, the choice of premises should take into account certain criteria:
- access Your premises should be easily accessible to attract customers. It should be close to major roads and parking lots. Also take into account pedestrian axes and public transport,
- branding : Depending on your position on the market (high-end or entry-level), you will choose the location and premises accordingly,
- commercial dynamism of the region : The area should be suitable for your activity, be it a commercial, industrial or residential area, etc.
- Presence Take into account the level of activity in the area, the profile of your customers, the presence of competitors, etc.
Also take into account the presence of local services such as schools, businesses or public facilities. you can also Recover an already existing business, which allows you to take advantage of the already existing catchment area.
The impact of the health crisis on the economic environment
The great health crisis that has shook the world for some time has not gone without impacting economic activity. Globally, this has led to a recession of unprecedented proportions. At the local level, especially in France, almost all activities of socio-economic life have been affected. The first difficulty faced by entrepreneurs is related to the flow of goods., With the phenomenon of imprisonment, many companies have found themselves with goods on their hands.
The closure of borders also created difficulties for supply and exports abroad. All of this is not without consequences on the financial health of unsuspecting companies. layoffs and bankruptcy, Many have had to close their doors for lack of means to support the allegations.
From now on only those people will be able to play their game who will be able to adapt to their new environment which is becoming increasingly digital. This is a constraint imposed on new entrepreneurs, who have a big challenge to take on: Find funds to start your activities, They also need to find promising markets that are not necessarily affected by the crisis.