This is the most crucial point for most entrepreneurs. Some times you hear people blaming tax authorities for making life so difficult for entrepreneurs, sometimes too expensive buying conditions which suppliers induce on products or high salary rates for personnel. Its better to look deep into the possible financial cost which you might come across during your setup to avoid sudden shock.

If you already have a business idea, a business plan, adequate finances, then you are about done. The next important step you might have to take is to decide on the Legalform of your proposed business. The type of form you choose might have influences on the taxes you will have to pay and how complex the bureaucracy will be. It is essential to understand the various forms before deciding on which to choose.

A business plan is a must for anyone who intends to setup and be successful. This plan should be your companion in whatever step you take. It contains important information about potential investors, employees, prospective customers, financial institutions etc. Do not underrate the effectiveness of a well written business plan, you will need this plan in order to get a loan from a bank. So the more authentic it is, the greater your chances are to convince a bank.