Starting up a business can be at the same time terrifying and exciting. The entrepreneur has to consider a lot of practical things such as the location, the quality control, the size of the business, the employees, etc.
All these difficulties confuse anyone who has a business idea – even if it is a very good one – especially if it is someone who does not have in-depth knowledge of the local market. Therefore, good organization and a good deal of courage are essential.
A business idea requires an assessment of current local market conditions, planning of actions and time.
In the beginning, the entrepreneur has to build a business plan, assess the financial and economic situation and meet legal requirements. Then he/she will have to learn how to increase sales and marketing techniques, along with much more.
The unit will provide you with all the basic knowledge on the first steps to starting up a business and also come up with an inspiring story of a woman TCN who is an entrepreneur in Italy.
Motivation - business motivation for entrepreneurs
According to the legal form that was chosen for the company, there are different requirements and procedures.
In addition, depending on the activity, the entrepreneur need to obtain the necessary authorisations and comply with professional requirements.
The TCN who intends to work as self-employed in Italy must have an appropriate residence permit, i.e. valid for self-employment. The procedure is different on whether the entrepreneur is already in Italy (he/she has a residence permit) or has not yet applied to enter Italy.
The residence permit remains valid until its expiry date. At the time of renewal, the person will have to request the conversion of the residence permit into a self-employment type.
NOTE: The residency permit issued for the reasons listed above allows the exercise of self-employment only if the person has the titles or authorizations provided for everyone by Italian law and if he/she met all the other requirements and conditions.
1. OBTAIN A VISA FOR SELF-EMPLOYMENT
2. OBTAIN A RESIDENCE PERMIT FOR SELF-EMPLOYMENT
Apply for a Permit of Stay for self-employment, within eight days of entering Italy, using the appropriate kit and sending it by post.
Italian Corporate law deals with the relationship between employer and employee. Specifically, the Italian legal system provides the kind of legal forms to set up a company. In fact, it is possible to become an entrepreneur by fulfilling certain requirements and conditions.
“An entrepreneur is an individual who creates a new business, bearing most of the risks and enjoying most of the rewards. The process of setting up a business is known as entrepreneurship.”
The creation of a company within the Italian market is also a wide topic, but the first question every entrepreneur should answer is:
“Do I want to be alone or with other parties?”
at the basis of a successful activity there must be an original and innovative business idea, but above all one capable of responding to a real market need.
studying the reference sector, the local market, direct and indirect competition, demand and the needs of potential customers will be the basis on which to build a winning and truly profitable business activity.
careful business planning allows one to understand the feasibility of the project and the profitability it will have in the current market. The business plan is the most important tool through which to plan every aspect and detail of the business start-up, but it is also the key tool with which to present one’s business idea and its potential to the outside world (financiers, partners, etc.).
the correct identification of the target audience and its analysis will make it possible to shape the activity, business idea, sales and communication strategies in an efficient and targeted manner.
if the new business involves employees, creating a team capable of collaborating and bringing value to the new business will be fundamental. For this purpose, their training, coaching and team building should be taken care of. Even when working alone, however, it will be important to create a network of knowledge and collaboration that can benefit the new business.
As mentioned above, estimating start-up and running costs correctly is a prerequisite for any successful business. In addition to this, it will be necessary to define the contribution of equity capital, find possible financing in case it becomes necessary and estimate the payback time of the investment and the expected revenues, thus understanding the sustainability of the business.
creating a strong brand and taking care of the company’s image and reputation is today indispensable for any business that wants to acquire and retain customers. Communication and initiatives both online and offline are fundamental to achieving this goal.
constant dialogue with one’s customers will enable one to obtain the feedback necessary for constant improvement of the business, products and services offered, as well as sales and communication strategies.
to open a successful business, it is necessary to outline effective pricing, sales and communication strategies, in line with the market and your target audience.
constant updating of business and knowledge, the anticipation of market trends and those of the reference sector, as well as the flexibility of the company, entrepreneur and management, will be the keys to starting a profitable and successful business and to maintaining it over time.