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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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Xavier Corman | Martin van Wunnik 2 07/02/2012 Xavier Corman | Martin van Wunnik 2 07/02/2012
Sponsors
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Xavier Corman | Martin van Wunnik 3 07/02/2012 Xavier Corman | Martin van Wunnik 3 07/02/2012
Creativity level
Finance & Accountinglevel
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Xavier Corman | Martin van Wunnik 4 07/02/2012 Xavier Corman | Martin van Wunnik 4 07/02/2012
Creating your company
• Company Setup– Why?– How?– What (results) ?
• Group session
• Pizza + individual Q&A
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Xavier Corman | Martin van Wunnik 5 07/02/2012 Xavier Corman | Martin van Wunnik 5 07/02/2012
Who are we ?
Martin van Wunnik
Xavier Corman
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Xavier Corman | Martin van Wunnik 6 07/02/2012 Xavier Corman | Martin van Wunnik 6 07/02/2012
This presentation is available for free:
http://www.slideshare.net/xaviercorman
http://www.slideshare.net/FinanceCoach24
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Xavier Corman | Martin van Wunnik 7 07/02/2012 Xavier Corman | Martin van Wunnik 7 07/02/2012 7
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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Xavier Corman | Martin van Wunnik 8 07/02/2012 Xavier Corman | Martin van Wunnik 8 07/02/2012 8
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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Xavier Corman | Martin van Wunnik 9 07/02/2012 Xavier Corman | Martin van Wunnik 9 07/02/2012 9
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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Xavier Corman | Martin van Wunnik 10 07/02/2012 Xavier Corman | Martin van Wunnik 10 07/02/2012 10
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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Xavier Corman | Martin van Wunnik 11 07/02/2012 Xavier Corman | Martin van Wunnik 11 07/02/2012
How to finance your start-up ?
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Xavier Corman | Martin van Wunnik 12 07/02/2012 Xavier Corman | Martin van Wunnik 12 07/02/2012 12
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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Xavier Corman | Martin van Wunnik 13 07/02/2012 Xavier Corman | Martin van Wunnik 13 07/02/2012 13
What could the consequences be?Hats/Personalities
Multiple “Clones” of YOU
DividendProfit distribution to shareholders
% ownership
Remuneration
Free & Creative!
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Xavier Corman | Martin van Wunnik 14 07/02/2012 Xavier Corman | Martin van Wunnik 14 07/02/2012 14
Hats/PersonalitiesFounders:3 years responsibility
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Xavier Corman | Martin van Wunnik 15 07/02/2012 Xavier Corman | Martin van Wunnik 15 07/02/2012 15
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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Xavier Corman | Martin van Wunnik 16 07/02/2012 Xavier Corman | Martin van Wunnik 16 07/02/2012 16
Free & Creative!
Statutes
Business-related costs & investments
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Xavier Corman | Martin van Wunnik 17 07/02/2012 Xavier Corman | Martin van Wunnik 17 07/02/2012
Questions & Answers
Free download:
http://www.slideshare.net/XavierCorman
http://www.slideshare.net/FinanceCoach24