Starting a Business: Essential Steps and Considerations

Company Description

A company is an entity consisting of capital and labor as factors of production. It is dedicated to industrial, commercial, or service provision with a profit motive and carries personal or social responsibility.

Certification of Company Name

Request a name for your company from the Central Commercial Register. We recommend providing three options to ensure availability.

Procedures at the City Council

• Building Permit
• Activity Installation License
• Business License (payment required)

Procedures at the Ministry of Labor and Social Affairs

• Registration in the special scheme for self-employed individuals
• Company registration with Social Security
• Communication of workplace opening (number of employees)

Deposit of Capital

Open a bank account and deposit the required capital.

Granting of a Public Deed

Formalize the company's creation before a notary.

Payment of Transfer Tax and Stamp Duty (ITPAJD)

Pay the applicable tax to the Treasury, typically 1% of the capital.

Procedures at the Ministry of Finance

• Tax registration
• Economic Activities Tax (IAE) registration
• Census declaration (notification of business activity commencement)

Corporate Tax Registration

Depending on the type of company, corporate tax registration may be required.

Value Added Tax (VAT) Registration

Register for VAT and file returns every three months.

Registration in the Commercial Registry

Register the company in the Commercial Registry and, if applicable, the Land Registry (if you have purchased property).

ICO (Official Credit Institute)

A state organization that provides aid to women entrepreneurs. This aid can supplement bank loans.

Self-Employed

A self-employed person works independently and does not have any employees.

Entrepreneur

Work undertaken by entrepreneurs or self-employed individuals is not subject to labor laws, except for specific legal requirements.

An entrepreneur can be a:

• Physical or legal entity
• Public or private entity

Key aspects of entrepreneurship include:

• Hiring staff
• Providing goods or services
• Generating profit (although foundations may have different objectives)

Liability

• Subsidiary Liability: The company is liable, and only one member is responsible.
• Joint Liability: One partner can be held responsible for all debts.
• Pro Rata Liability: All partners are equally responsible.

Financing

• Own Resources
• Grants and Subsidies
• External Resources

Marketing Plan

Market Study

• Analyze demand
• Analyze the competition

Action Plan

Define objectives, actions, responsibilities, deadlines, and control mechanisms.

SWOT Analysis

Identify Strengths, Weaknesses, Opportunities, and Threats.

Marketing Mix

Consider Product, Price, Distribution, and Promotion.

Production Plan

Production Process

Define the steps involved in creating the product.

Production Program

Determine production capacity, timing, and environmental impacts.

Supply and Inventory Management

Manage quality, stock levels, lead times, and storage costs.

Business Plan

Objectives:

• Company identification
• Description of the business idea
• Market description

Business Idea

Define the product or service, general characteristics (partners, objectives, resources, competition), and required knowledge (sector, market, specific business aspects).