Checklist for Business Start-Ups

You have a business idea and are looking for professional assistance in planning your self-employment? We have compiled a comprehensive checklist for business start-ups to help you plan your venture in a structured way.

• Think through and articulate your business idea
• Discuss your business idea with a trusted person
• Consider looking for a business partner
• Define your goals
• Review and complete the necessary knowledge and qualifications (e.g. where a master craftsman's certificate is required)
• If you wish to become self-employed alongside your current employment, clarify this in advance with your employer
• Check whether a licence is required and obtain any necessary permissions
• Check patents (engage a patent attorney if necessary)
• Consider attending a start-up seminar
• Carry out market analysis and market monitoring for your product
• Monitor and assess the competition (competitors' services, pricing, marketing, etc.)
• Define opportunities and risks
• Calculate prices
• Plan capital requirements: what costs will arise? Plan revenues. Set aside a contingency reserve
• Calculate your personal financial needs
• Draw up a business plan
• Prepare a liquidity plan
• Choose a memorable company name
• Select memorable brand names
• Research whether the desired names are already registered as trademarks
• Secure the company name and brand names as domain names
• Register trademarks
• Decide on a location
• Find premises
• Obtain business equipment
• Plan distribution channels where applicable
• Establish further organisational structures (such as opening hours, etc.)
• Set a timetable
• Familiarise yourself with the laws that must be observed (e.g. Working Hours Act, occupational health and safety requirements, Federal Leave Act, Trades and Crafts Code, data protection legislation, tax legislation, ...)
• Clarify the requirements of professional associations, chambers, etc.
• Research whether membership of associations is compulsory or advisable
• Define your advisory needs
• Choose a legal structure where applicable (taking into account capital requirements)
• Draft a partnership or shareholders' agreement where applicable
• Choose a financial year where applicable (usually the calendar year)
• Secure financing and look for funding programmes
• Register as a trade (Gewerbe) at the trade registry office (not applicable to freelancers)
• Register in the commercial register (Handelsregister) where applicable, for example for a GmbH and sole traders, but not for small businesses or civil law partnerships (GbR)
• Open a business bank account
• Take out professional indemnity insurance where applicable
• Arrange your own health insurance
• Check pension insurance obligations where applicable
• Assess whether further insurance is necessary (product liability, business interruption, business contents insurance, etc.)
• Choose a solicitor where applicable
• Obtain legal advice where applicable
• Draft or have drafted general terms and conditions (AGBs)
• Check whether further contracts are necessary (supply agreements, data processing agreements, purchase contracts, etc.)
• Choose a tax adviser
• Complete the questionnaire / registration with the tax office (Finanzamt) (application for a tax number and a VAT identification number, exercise of various options)
• Tax planning: when are advance VAT payments due?
• Tax planning: when and in what amounts are advance payments for income taxes due (income tax, corporation tax if applicable, trade tax)?
• Tax planning: when can final payments for income taxes be expected?
• Set aside sufficient funds for tax payments
• Clarify the risks of bogus self-employment (Scheinselbstandigkeit)
• Clarify the risks of bogus self-employment of subcontractors
• Clarify where applicable whether the founder(s) must be employed as managing director(s) or are subject to compulsory social security contributions
• Organise your bookkeeping
• Purchase and set up invoicing software
• Apply for an EORI number at the customs office where applicable
• What data protection rules must be observed?
• Set up a privacy policy page on your website
• Appoint a data protection officer where applicable
• Set up a website including privacy policy, legal notice (Impressum), and all legally required information
• Designate and train first aiders for the workplace where applicable
• Prepare process documentation where applicable
• Find suppliers where applicable
• Find distribution partners where applicable
• Recruit and hire employees where applicable
• Draw up a plan: what tasks are to be handled by employees?
• Register the business with the relevant employers' liability insurance association (Berufsgenossenschaft)
• Employees: prepare employment contracts, personnel questionnaires, and data protection confidentiality declarations
• Corporate identity: design the external image (logo, letterhead, marketing materials, etc.)
• Plan your marketing strategy
• Acquire customers
• Check whether you require an anti-money laundering officer
• Ensure that all applicable minimum wage requirements are observed
• Check whether you require a safety officer
• Set up quality management
• Set up controlling
• Review: what went as planned, and what needs to be improved?