Workshop on March 6th 2012 @ ICAB Brussels Creating your company: Why should you create a company? How should you do it? What could the consequences be?

1. Finance for Startups workshop
Creating your company:
Why should you create a company?
How should you do it?
What could the consequences be?
Martin van Wunnik
Xavier Corman
07/02/2012 Xavier Corman | Martin van Wunnik 1

2. Sponsors
07/02/2012 Xavier Corman | Martin van Wunnik 2

3. Creativity
level
Finance & Accounting
level
07/02/2012 Xavier Corman | Martin van Wunnik 3

4. Creating your company
• Company Setup
– Why?
– How?
– What (results) ?
• Group session
• Pizza + individual Q&A
07/02/2012 Xavier Corman | Martin van Wunnik 4

5. Who are we ?
Martin van Wunnik
Xavier Corman
07/02/2012 Xavier Corman | Martin van Wunnik 5

6. This presentation is available for free:
http://www.slideshare.net/xaviercorman
http://www.slideshare.net/FinanceCoach24
07/02/2012 Xavier Corman | Martin van Wunnik 6

7. Why should you create a company?
Limit your liabilities !
Professional business touch
Fiscal : tax rate 34% (24% for 3y)
Funding or grants requests
Succession ...
07/02/2012 Xavier Corman | Martin van Wunnik 7 7

8. Why should you create a company?
Formalities & some costs
(bank, notary, KBO/CBE, social secretary)
Double entry accounting  accountant
Revisor for in-natura contributions
Cheat ?  309%
07/02/2012 Xavier Corman | Martin van Wunnik 8 8

9. Minimum capital
Legal
BVBA-SPRL (min.1)
CVBA-SCRL (flexible)
18.550 EUR  6.200 EUR
(or 12.400 EUR)
SA-NV (min.2):
61.500 EUR
REAL minimum = Business required !
07/02/2012 Xavier Corman | Martin van Wunnik 9 9

10. Shareholders  Control (>51%)
Absolute / Relative majority
40% - 60%
40% - 10% - 10% -10% -10% -10% -10%
Voting Rights
Class A & B
Minority (blocking) interest
Investors per phase (dilution)!
Stock options:
fiscal implications, buyer required
vesting conditions : targets, period (4y)
07/02/2012 Xavier Corman | Martin van Wunnik 10 10

11. How to finance your start-up ?
07/02/2012 Xavier Corman | Martin van Wunnik 11

12. How should you do it?
Bank
Deposit capital on blocked account
Notary
Statutes: who, why, how, what, where + financial plan
registration + publication
Guichet/Loket
KBO/BCE (knowledge)
Business number (i.e. TVA n° BTW – quarterly/monthly)
Social secretary
Own salary Gérant/Zaakvoerder
Get an Accountant !
07/02/2012 Xavier Corman | Martin van Wunnik 12 12

13. What could the consequences be?
Hats/Personalities
Multiple “Clones” of YOU
Dividend
Profit distribution to shareholders
% ownership
Remuneration
Free & Creative!
07/02/2012 Xavier Corman | Martin van Wunnik 13 13

14. Hats/Personalities
Founders:
3 years responsibility
07/02/2012 Xavier Corman | Martin van Wunnik 14 14

15. 5 questions for an accountant?
Also my tax aspects ?
Urgent questions ?
Quarterly reporting ?
(on-line access to books)
Overview lists (e.g. petty cash) ?
Pricing ?
Own network
07/02/2012 Xavier Corman | Martin van Wunnik 15 15

16. Free & Creative!
Statutes
Business-related costs & investments
07/02/2012 Xavier Corman | Martin van Wunnik 16 16

17. Questions & Answers
Free download:
http://www.slideshare.net/XavierCorman
http://www.slideshare.net/FinanceCoach24
07/02/2012 Xavier Corman | Martin van Wunnik 17