Being in a position to develop a business activity requires taking a series of steps so that, as of the day chosen, the company is in a position to start operating on the market. The aspects to consider in this preparation stage are, among others, the following:
- Premises: The businessperson may decide to own the premises where they will carry out their activity or, on the contrary, to rent it. In the first case, mortgage financing can be used. In the case of a rent, it may be necessary usually provide a guarantee that guarantees the payment of the rents, as well as to deposit a bond amounting to some monthly rents of the lease.
- Premises adaptation works: They can be integrated into the financing of the acquisition of the property.
- Capital goods: At the time of starting its activity, the company will usually need to have certain capital goods, which will use over several years, and which will be part of its tangible fixed assets: Computers, facilities, vehicles, machinery, etc. The company can choose to carry out leasing or renting transactions or to purchase such assets. In this case, it will normally resort to loans with a repayment term adapted to the life of the asset.
- Employees: The company must be registered with Social Security and have the employees’ contracts in order, within the framework of current labour legislation. Subsequently, the company must settle the social contributions payable by the employer and deduct from the payroll of its employees, and transfer to the Social Security those that correspond to the employees. The contribution obligation also extends to self-employed workers. Regarding the deducted social contributions, as in the case of withholdings on account for income tax, the company can keep their amounts until the moment of transfer to the Treasury.
- Licenses and permits from the competent public bodies: In some cases, the company may be obliged to provide a guarantee or to deposit a bond for the exercise of certain activities.
- Basic services: Logically, the operation of the company also requires taking out a series of basic services: Water, electricity, gas, telephone, Internet, etc. The company must register for such services.
- Supply of current goods and services: It is also very possible that, before actually starting its activity, the company must to take out the supply of certain current goods and services necessary to be able to carry out such activity.
- Insurance: It is likely that the company will have to take out some insurance (for example, covering the premises where it operates, its vehicles, legal liability, etc.).
