If you are planning to open a new business, we are going to share with you a few tips to consider before you start. You need to be ready and have all it takes to build not just a business, but a very well organized and successful one. We have divided these needs into various categories so you can have an even better overview of the situation, but we will publish in different articles to keep things clear. We know how stressful beginnings can be!
Apart from having a place to work from and figuring out what services/products you sell, you will need to:
- Register your business in the Registry of Commerce where you are based. This is not mandatory in Switzerland, but recommendable, especially if you want to create bank accounts and other sort of subscriptions where they require registration details.
- Open a bank account, preferably one that offers great packages for start-ups. In Switzerland, La Poste offers the best deals and lowest fees, at least for the first year.
- Get a proper accountant. Again, from experience, if you don’t start doing your calculations well, you end up in trouble when you need to expand. (been there, done that unfortunately). We went with a bigger company that can provide us with awesome advice: Dyn SA. They are young like us and very, very cool! Accounting can really be fun with a proper team. Apart from the actual books, they can help you with anything related to VAT or pension funds (super annoying tasks in general). Did we mention how cool they are?
- You might want to protect your intellectual property (logo/name/phrase/product etc). If you do, ask a specialist to help you. From experience, we can tell you a person with no experience can wrongly register your brand and then you can only start from scratch (#WastedMoney). And believe us, it feels very bad! We recommend Cosmovici Intellectual Property in Switzerland. Super prices and very good advice and they can help you in various countries, not just Switzerland.
- You should also get an invoicing system which allows you to create quotes, draft invoices and keep track of all your transaction. You accountant can advise you what system to use, but we have tried both Xero and Zoho and remained with Xero for accounting, but kept Zoho for sales and account management. Just because we have used Xero for far longer and don’t want to change!
- Depending on your business, a lawyer will be required. This can however wait if you triple check all your documents and check online for different samples. Or, I am sure you all have friends studying law. They can give you some advice at the beginning.
All these can be done in various stages of your business, however most of them somewhere closer to the start.
- Your accounting company can help you with everything related to salary payments and even contracts for your employees if you have any.
- We advise you to think of any insurances you might need to get for accidents inside the office, fire, health and others your insurer might advise you to get. You never know!
We have pretty much done all the above when we rebranded into Minthical and put everything in order so we can make our lives easier. Being organized works and on the long run in really, really pays off.
Have fun and good luck!