The founding of the first own company is a huge task and an even bigger challenge for every budding entrepreneur. There are countless things to think about, many planning needs to be considered, organized and carried out. From finding the right business location, finding financial resources to actually start the business and hiring additional employees, there are a lot of things to consider when you’re considering starting a new business – even for a small business. There are also bureaucratic hurdles to consider.
Even a single small mistake at the beginning can make the small business waver. Especially in terms of financings, founders should take a lot of time and planning to be able to put together the right business plan with the right conditions and without making crucial mistakes right from the beginning.
Compare terms and conditions for business loans
In most cases, it is not possible to set up a small business or a shop without using a loan. Small loans are often not enough, or several loans must be taken and paid. Here, especially founders quickly falter and become confused. The result is unpaid bills and difficulties to make end needs for installment payments. In order to find out more about the structure of your small business right from the beginning, it is advisable to take a look at what different banks have to offer, as long as you decide on a classic installment loan as a financing boost for your company. If you start a small business as a foreigner in Switzerland, you should have the financial resources planned out from the get-go, because you must prove yourself as financially stable in order to be able to open a company and to obtain a Swiss work and residence permit.
Check premises and location
Depending on the sector and services, the location of the shop, the office or the production site should be checked very carefully and precisely. The following questions can be relevant:
- What is the accessibility for the customers is the business location directly in the city center, or rather outside?
- Is it a service that can be organized, planned or carried out mainly through telephone contacts, the Internet and other means of communication?
- Is it a brick-and-mortar business that needs to be within walking distance of the city’s center and in a good location in the city?
These and many other questions must be examined, treated and taken into consideration with great care. Even a very conscientious environment analysis should be carried out depending on the industry urgently in advance and take in the hand. For example, it is not a good idea to want to open two more shops on the same street or right next to those who are your direct competitors. The best business strategy is to fill a market gap, which was not already conquered by any competitors, and then the probability to have a successful start in business is greater.
Don’t start a business without having a solid plan
The business plan is what you have to start with before you’re thinking about opening a company or pursuing any other types of business activities. The business plan should not include a viable business idea, but also the answer to some important questions such as
- Where should you establish your company’s offices?
- In which Swiss cantons are there more favorable tax rates for your business?
- Can you run your business alone or do you need to employ people right from the start?
- What is the total cost, including rent, production costs, and personnel costs?
These and many other questions must and should definitely be answered with certainty, as well as questions that once have only indirectly something to do with the business. Considering all these factors carefully and fully-comprehensively, then, in all likelihood, your small business can become a successful endeavor for the future.
In addition, it is best to acquire the services of a firm specializing in company formation in Switzerland that can provide you with the necessary assistance and support to start your own business in Switzerland. Our company formation specialists are more than happy to provide assistance in this matter, so feel free to contact us and request an offer for our services.
Add new comment