Xavier Corman | Martin van Wunnik 1 07/02/2012 Xavier Corman | Martin van Wunnik 1 07/02/2012

Finance for Startups workshop

Creating your company:

Why should you create a company? How should you do it?

What could the consequences be?

Martin van WunnikXavier Corman

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Sponsors

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Creativity level

Finance & Accountinglevel

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Creating your company

• Company Setup– Why?– How?– What (results) ?

• Group session

• Pizza + individual Q&A

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Who are we ?

Martin van Wunnik

Xavier Corman

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This presentation is available for free:

http://www.slideshare.net/xaviercorman

http://www.slideshare.net/FinanceCoach24

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Why should you create a company?

Limit your liabilities !

Professional business touch

Fiscal : tax rate 34% (24% for 3y)

Funding or grants requests

Succession ...

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Why should you create a company? Formalities & some costs

(bank, notary, KBO/CBE, social secretary)

Double entry accounting accountant

Revisor for in-natura contributions

Cheat ? 309%

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Minimum capital

REAL minimum = Business required ! REAL minimum = Business required !

Legal

BVBA-SPRL (min.1)CVBA-SCRL (flexible)

18.550 EUR 6.200 EUR(or 12.400 EUR)

SA-NV (min.2):

61.500 EUR

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Shareholders Control (>51%)

Absolute / Relative majority40% - 60%

40% - 10% - 10% -10% -10% -10% -10%

Voting RightsClass A & B

Minority (blocking) interest

Investors per phase (dilution)!

Stock options:fiscal implications, buyer required

vesting conditions : targets, period (4y)

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How to finance your start-up ?

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How should you do it? Bank

Deposit capital on blocked account

NotaryStatutes: who, why, how, what, where + financial plan

registration + publication

Guichet/LoketKBO/BCE (knowledge)

Business number (i.e. TVA n° BTW – quarterly/monthly)

Social secretary Own salary Gérant/Zaakvoerder

Get an Accountant !

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What could the consequences be?Hats/Personalities

Multiple “Clones” of YOU

DividendProfit distribution to shareholders

% ownership

Remuneration

Free & Creative!

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Hats/PersonalitiesFounders:3 years responsibility

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5 questions for an accountant? Also my tax aspects ?

Urgent questions ?

Quarterly reporting ?(on-line access to books)

Overview lists (e.g. petty cash) ?

Pricing ?

Own network

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Free & Creative!

Statutes

Business-related costs & investments

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Questions & Answers

Free download:

http://www.slideshare.net/XavierCorman

http://www.slideshare.net/FinanceCoach24