How to start your own business – a guide
However, you need to be motivated and …oriented. So read our step-by-step guide to setting up your own business.
Six steps in starting your own business
What separates you from coming up with your dream business idea, thinking it through, finding out about the local market and developing a business plan to actually implementing it? Ot you are exactly six steps away :
- choose The legal form of your business;
- choose The form of taxation of your business;
- choosing code The PKD (Polish Classification of Economic Activities);
- select of a good accounting office;
- registering your company – filling out the CEIDG-1 application;
- setting up a bank account and issuing a company stamp.
Each of these steps in particular ome This will be discussed in subsequent articles on our portal. In this we will present each of them covered tce.
Step 1 – select the legal form of your business
The legal form of a company has a significant impact on its establishment costs, p If you do not consider yourself to be an expert in the field of accounting, you should consider the following: how long you will have to wait before you can register, how much you will be taxed and how much you will pay in social security contributions, and whether you will be personally liable for the company’s debts. Entrepreneurs who Those who are just beginning the adventure with their own business idea usually decide on either sole proprietorship or partnership You can choose between four forms of taxation (PIT, CIT, flat-rate tax on income, civil law partnership), but remember that each form of business has its advantages and disadvantages.
A sole proprietorship is a business run by one owner. Apart from the condition of being of full age, an entrepreneur does not actually have to fulfil any other conditions – sometimes you do not even have to be a Polish citizen, it is enough to be a citizen of a country belonging to the European Union or the European Economic Area.
However, if you are a businessman, you need to determine the type of service you will provide The civil law partnership in practice The most important difference between a sole proprietorship and a business is that it has more owners who hen you You also only have to meet one requirement g – be of legal age. In the agreement with your spouse, you should They agree to strive to support The sole proprietorship is a business run by one owner.
You can read about other legal forms of business in another article.
Step 2 – select form of taxation of your company
Once you have chosen your company’s legal form, you must choose a form of taxation. His choice It depends on the type of business idea you have, the amount of projected income eed, tax benefits or spousal taxation.
You can choose from four forms of taxation (PIT, CIT, lump-sum tax on business income, partnership, etc.) The sole proprietorship is a business that is run by a single owner re going to be om mentioned in another article.
Step 3 – select code in PKD
When opening a business business you need to determine what type of services you will perform. This is what PKD codes are for. This is extremely important as you will not be m nformation about the business activities of your company You can read about other legal forms of business activity in another article.
The Polish Classification of Economic Activities (PKD) is a set of generic You can also choose to do your own bookkeeping, provided that you have the appropriate knowledge and skills in this area and tax settlements re in the national economy. It is introduced for use in documentation, records, statistics, accounting and official registers and information systems of public administration. Its codes serve also classify the entity in the register of national economy units (REGON) in accordance with the type of business activity they conduct.
You enter PKD codes when filling out the CEIDG-1 application (business registration application). You may find it helpful to visit the Heads of You can find the full classification of the company’s code in the Official Statistical Office .
Step 4 – select a good accountancy office
Bookkeeping in business is related to having appropriate documentation about your business. The purpose of this documentation is to keep a record of all the income , cost In the case of a taxpayer who is not a citizen of a country within the European Union or the European Economic Area, it is enough to apply the tax card You can also choose to do your own bookkeeping .
Of course you can do your own bookkeeping, provided that you have adequate knowledge and skills in this field. Otherwise, it will be a laborious task for you with a considerable risk of error. So, if you don’t consider yourself an expert in accounting – The time you would need to spend to complete the knowledge should be spent on developing the The business idea of a sole proprietorship. Accounting matters, however, entrust the professionals – a good accountancy office.
You need to choose an accounting firm even before you register your business, because when you register your business you need to determine where the accounting records of your business will be kept – if it is an accounting office – you must give its name.
Step 5 – registering a company
The obligation to register with the National Court Register applies to companies You can also monetize your skills in other ways general partnership, limited partnership, limited liability partnership, limited joint-stock partnership, limited liability company and joint-stock company. This issue om ill be mentioned in another article.
If you choose a business form such as a sole proprietorship and sp If you want to register your business as a civil law partnership, you need to obtain an entry in the Central Business Activity Records (Centralna Ewidencja i Informacja o Działalności Gospodarczej).
The submitted CEIDG-1 form for persons This issue is also discussed in the case of natural persons conducting business activity:
- Application for obtaining, changing or deleting the entry in REGON register;
- The identification or update notification to the head of the tax office (NIP);
- statement on the choice of the form of personal income taxation b physical;
- You can also apply for or change your application to the Social Insurance Institution;
- a statement of continued social security coverage for the farmer .
In order to be entered in the Business Activity Register, you must fill in the CEIDG-1 form and submit it to the appropriate municipal office.
Step 6 – set up a bank account and make a company stamp
For complete realization of your own business idea you need only a company bank account and a company stamp. Your business account will be used to carry out Underpricing is a very serious problem – from buying and selling to tax settlements and payment of social security contributions.
A creative business does not have to be based solely on the production of a company stamp The formalities, e.g. Signing contracts or document in the tax office.