Guide to Starting a Business in Austria: Key Steps and Considerations
Discover the essential steps and considerations for starting a business in Austria, from developing a business idea to choosing the right legal form and understanding tax implications. Explore insights on market analysis, competitors, qualifications, business planning, types of trades, legal forms, social and insurance obligations, and more. Get equipped with the knowledge you need to embark on your entrepreneurial journey effectively.
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http://sat.gmncdn.com/Blogs/robertfagan/files/2011/05/business-success.jpghttp://sat.gmncdn.com/Blogs/robertfagan/files/2011/05/business-success.jpg How to start a company In Austria
Your business idea New or different business idea ( me too ) Taking over a business Taking a Franchise Who will benefit? Market? Competitors? www.geschaeftsidee.de www.nachfolgeboerse.at www.franchiseboerse.at
Your Qualification Are you an entrepreneur? Personal characteristics? How do your family feel about this? Expertise? Do a test: www.gruenderservice.at
Business Plan Helps in decision making Planning tool: Plan 4 You Easy Minimum turnover calculation (how much money must be turned over to make money?) Business plan handbook www.i2b
Type of trade free or regulated? Evidence of formal qualification Individual qualification Qualification exam Managing director under trade law
Legal form Individual company Trade registration Unlimited personal liability P+L statement Partnership 2 partners Unlimited liability P+L statement Limited liability company 35.000 base capital Accounting liability 25% corporation tax 25% capital gains tax
The ideal legal form Does not exist, depends on: Capital available, liability risk, size, taxes, etc. Individual company advantages: Quickly established One boss Partnership advantages Shared risk Mutual support, complementing each other Capital problem easier
Social insurance Mandatory for Single businesses Partners Liable managers Liable partners in a plc Self-employed entrepreneurs
Insurance Health insurance Pension insurance Insurance for the self-employed 1,53 % Accident insurance Unemployment insurance 7,65 % 17,5 % 8,48 % 6 %
Income tax Based on yearly profit Between 0 % and 50 % 11.000.- per year tax free Quarterly advance payment Tax free profit margin 13 % (up to 30.000.-)
Turnover- or Value Added Tax On all goods and services provided 20% of net price Self-assessment For small businesses: Tax free up to 30.000 turnover
Financing your business Self-financing or borrowing State support / incentives Law for the support of new businesses Tax and fee exemptions for new companies
