European Youth Portal
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How to start with entrepreneurship?

Nowadays, instead of working office hours, a lot of young people tend to start their own business after university studies.

Nowadays, instead of working office hours, a lot of young people tend to start their own business after university studies. Operating your own enterprise has its pros and cons. Certainly it will give more freedom making decisions and planning working time, but also expects greater responsibility and dedication.

 

So, where to start when you have decided to found your own enterprise? 

The most important basis is the idea. Why is your product or service special and how can society benefit from it? One should always remember that it is hard to sell service or product which does not have content. When you have already analysed your plan, it is easier for you to start.

 

Write down your ideas - compose a business plan! You can get tips from HERE, where you can also find information about the financial support and funding. Business plan is not mandatory, but strictly recommended. When in doubt, whether to compose a business plan, read about 10 reasons, why business plan is necessary.  

 

When the business plan is completed, it is necessary to start “creating the company”. In Estonia, it is fortunately quite easy. One has to log onto Enterpriseportal with his ID-card or bank codes, where founding an organisation is convenient and simple. The portal enables to register the company, assign members of the board, upload the statutes, create the period of financial year, appoint auditor etc. In a word - all activities that are necessary to found an enterprise are collocated to the web site.

 

Bear in mind that an enterprise can also be founded without immediate deposit which is a good chance for those who do not have 2500 EUR in their pocket. In that case, the deposition has to be paid within a year. However, state fee has to be remunerated promptly.

When your enterprise domain includes tobacco, alcohol or other similar products,  a separate permission from local government has to be requested.

 

Also, when operating in domains that you are not a specialist in, it is advisable to use the help from experts. For example, one can gain much assistance when adding an accountant or solicitor to the enterprise. In addition, it is recommendable to audit your company every year. 

 

Beneficial web pages for beginners:

 

·         Raamatupidamis- ja Maksuinfoportaal

·         Teie Euroopa

·         Swedbank – kuidas alustada ettevõttega

·         Loov Eesti

·         EAS – Uue ettevõtte rajamine

Published: Thu, 01/08/2013 - 15:09


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