Careers advice

How To Start A Startup: First Steps

Everything you need to know about launching a startup: the first steps, the things to do, the bureaucratic processes to follow, and how to raise funds to start your own business

How often have you thought of setting up your very own company? Of working for yourself and making your dreams a practical reality? Well, it’s not that hard, but to launch a startup you first need to know a bit about the technical and practical aspects.

Here’s how to start translating your ideas into action. Study these carefully and perhaps take legal advice.

First Steps For Launching A Startup: What To Do

A startup is basically a new business venture with an innovative purpose. Indeed, the name “startup” suggests an enterprise that is beginning to grow.

First of all, you need to consult an accountant to help you avoid bureaucratic pitfalls. Otherwise, you could pay more tax than you need to.

The next steps are as follows:

  • Set up a limited company: you can do this with help from a notary, or you can fill out a “precompiled” certificate of incorporation
  • Submit a request to be listed in the “Innovative startup” section of the Business Register
  • Declare the start of business
  • Raise funding through bootstrapping (self-financing), crowdfunding, venture capitalists and European funds

But before all these bureaucratic processes, you need to research the market. Which companies or funds will you need to approach to finance your startup? Will you need any licenses or forms of registration? What about supplies or special equipment? Take time to examine all these aspects.

To raise the money you need to launch your startup, it’s important to limit your expectations. Set some less ambitious goals to present to potential investors. This way they’ll understand your aims, and you’ll get the success you deserve.