5 Tips on Business Registration

Business registration at the Trade Office of Dresden

 

Here are the 5 most frequent and grave mistakes you can make at the trade office and what to do instead!

Filling out the form to register a business at the Trade Office Dresden or elsewhere is quick work.

The form itself is even available online and can be sent per email to the trade office.

But the problems start appearing later when you find out you haven’t planned the how, when and what of registering your business.

There are five very expensive mistakes you can make when registering your business and this article will tell you what you should do or check before registration:

Don’t start right off as your primary occupation!

If you go 100% self-employment with a company that isn’t up and running yet, you can expect to pay extremely high insurance premiums or the legal pension insurance minimum which has caused the corporate death of many a start-up. Even if you don’t have another job, start off registering your business as secondary occupation! Registering your business as a sideline job is often one of the smartest moves you can make. But don’t expect any help from the trade office itself. Think this step over carefully. Or pick up the phone and give me call.

Only register your business at the trade office if absolutely necessary!

If you pay attention to the fine print, you may find out you qualify as a freelancer and benefit from huge savings! No business tax, no pension fund. You should speak with an expert before going to the trade office. If you just want to make some sales for a brief period or don’t intend to make any profit: You may not even have to register to begin with.

Do not declare the wrong business!

Consider the fate of the photo editor who registered his business as photography and lands in the Chamber of Crafts, pays into a pension fund, fails to qualify for artists’ social security and suffers fatal financial hemorrhaging that could have been avoided. Take this short parable into consideration regardless of your trade. And carefully check your situation beforehand, if possible with a professional like me.

Better yet, ask an expert right away!

Just send me an email to info@dresden-beratung.de if you have specific questions or give me a quick ring: 0351 – 41886876

Download my free 29-page road  map for start-ups! It includes a detailed description of these 5 fatal mistakes as well as 7 additional stumbling blocks that every start-up should know.

Initial consultations by phone and brief information are always free! I am also happy to register your business for you and help you fill out your first tax returns for a small fee. Or you can benefit from my pre-start-up 100% state-subsidized start-up consulting program!

Business consulting for start-ups in Dresden. MBA & Graduate Economist Toni Großmann offers assistance from business registration to successful financing.

 

Don’t start out as a small business enterprise unless necessary!

Many people think registering their business as a small business simplifies things and is advantageous because you don’t pay VAT. But for others, this path can cause you to lose money in the end because you can’t receive a refund for VAT from all investments made when launching your business! So before you register your business, or at the latest when the tax authority gets in touch with you, make sure whether or not this makes sense in your case.

It’s better to choose the right business form from day one!

Because the costs are supposedly so low and you can enjoy limited liability, these days you see more and more UGs. But in reality, accounting and other costs amount to at least 2,000 euro more a year than if you had chosen sole proprietorship. Besides, liability limitation rarely even makes sense.

 

Download my free PDF for a detailed overview of this and other tips including 12 stepping stones to success for every start-up.

Receive founded consulting from day one instead!

Just send me an email to info@dresden-beratung.de if you have specific questions or give me a quick ring: 0351 – 41886876

Initial consultations by phone are always free!

Subsidized consulting for start-ups

You can enjoy free pre-start-up consulting or start-up consulting with a state subsidy that covers up to 80% of the costs.

 

With professional support, becoming self-employed is not only easier, it’s more certain to succeed.

Facts on business (de)registration

The number of existing businesses hovers constantly around 49,500 even though there are around 5,300 new registrations each year. The number of business deregistrations is almost just as high. If you’re interested in reading more about the statistics, can review “Dresden in Numbers” (in German): The document also contains information on the number of businesses in each sector (construction, food service, etc.).

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