Topic 2 Preparation & development of your business

TWO STEPS TO START A BUSINESS:

Business Plan Outline

The text of the business plan should be clear and concise but contain as much information as possible.
Although there is not a fixed outline, a business plan must follow a certain approach and answer some specific questions. The document should be clear and complete, also including any photographs and useful documentation to better explain your business project to those who will examine it.

  • Provide fundamental information for the start-up of the business (i.e. what and how many economic, financial and human resources are needed, the characteristics of the product and market, etc.);
  • Give the entrepreneur an overview of the factors that characterize the business, providing a basis to plan the strategy and actions;
  • Explain the business formula (product system, market, organisational structure);
  • Verify the interest of potential customers;
  • Understand which objectives are to be achieved and how to pursue them;
  • Verify the consistency between the individual actions indicated and the consequent investment and management costs;
  • Define the legal form to comply with the characteristics of the business;
  • Allow reliable forecasts, simulating the various hypotheses for the development of the enterprise’s activity;
  • Serve as a ‘business card’ to present the enterprise to potential partners, financiers, banks, customers, suppliers etc.
Image by Gerd Altmann from Pixabay

Practical information to start up a business

In Italy is difficult to understand the non-user-friendly system and the complexity of Italian law and procedures. A suggestion is to have counsel and a good international accountant who knows how to start a business in the country.

Another important thing to do is to set up a bank account. Italian banks do not grant loans easily so the entrepreneur should have start-up money before setting up the business or at least apply for a funding opportunity.

Italian law required a lot of paperwork to start a business. Differently from the Individual company, for the registration of an Enterprise consisting of two or more partners you have to draft also a Memorandum (Atto Costitutivo) and Articles of Association (Statuto) and these documents have to be notarized. The company will be registered by the notary public within the Universal Company Register. You will pay the notary expenses as well as the fees for registration in the Register of Enterprises and in the Chamber of Commerce.
The entrepreneur will also pay to obtain the authentication of corporate and accounting books by the Trade Register.
After the registration, the enterprise will obtain a tax number and a VAT number.

​Lastly, all the companies must have an official government-certified e-mail address (P.E.C), which is used to send information and to enter official websites. You have to pay a fee to open the e-mail address and the most common service in Italy is Aruba.