Step-by-step plan to start your own business
If you have an idea and a business plan, you are ready to get started. Here we review all the steps you still need to take to set up your business.
You don't have an idea or a plan yet? Then first read on:
Start your business in 5 steps:
1. Get prepared
You ended up here, so you are already well prepared!
In addition to working out your idea into a plan, you should also check whether you meet the conditions to be able to practise the profession of your dreams. As a lawyer, for example, you must complete a three-year traineeship. If you work with food, for example, you must also hold the necessary certificates or permits.
In short: When starting a business in Wallonia, you also need a degree in business management or sufficient practical experience. In Flanders and Brussels, this obligation to present a degree in business management no longer applies.
At this stage, it’s also worth checking whether you have sufficient financial resources to proceed to step 2: choosing your company form or legal status. Normally, you will have already done this when drawing up your business plan. Do you still need help in choosing the right company form? Then you can ask advice at a Securex Business Counter near you or go to your accountant.
2. Choose a company form or legal status
Are you going for a sole proprietorship or for a company? If you opt for a company, you will also have to choose the appropriate company form:
- A private limited company (bv) – the former bvba.
- A limited partnership (CommV)
- A public limited company (nv)
- A cooperative society (cv)
- A partnership
Check here which company form is appropriate for you.
3. Setting up your business
In this step, everything becomes concrete:
- Open a business bank account with a Belgian bank
- Apply for a company number at a Securex Business Counter or do so yourself online
- The counter also takes care of the mandatory registration with the Crossroads Bank for Enterprises (CBE) and can, if needed, also activate your VAT number.
This makes your own business official and known to the Belgian authorities. Did you know that, with Securex, you can already be fully up and running and legally compliant from as little as € 249? Discover our starter packs.
4. Join as a self-employed person
Your business has been set up, but you have yet to join a social insurance fund. As a self-employed person, you are responsible for your own social security, this is no longer taken care of via an employer.
Depending on whether you start working full-time as a self-employed person, you will start either as a main or secondary occupation.
5. Arrange a number of practical matters
Before you get down to work, there are a number of things you should do. Let your health insurance fund know that you have started working as a self-employed person. If you have children, inform the child allowance fund that pays child allowances.
Finally, you can still protect yourself should things get a bit more difficult, such as liability in the event of conflicts or problems, or if you fall ill. As a self-employed person, you don't receive the same pension as an employee, so it’s wise to make extra provisions for this via a free supplementary pension for self-employed persons (PLCI).
Once you have gone through all the steps, you will have set up your own business and started as a self-employed.
Good luck!
Starting a business without money
In the course of your self-employed activity, the aim is to generate sufficient income. However, at the start, you don't know how things will turn out. You don't have a crystal ball. Therefore, you might prefer to start without incurring too many financial risks.
It’s advisable to take a number of start-up costs into account.
However, if you don't have to rent a business, buy expensive equipment or provide a large stock, it’s possible to start with little money.
Starting financially smart?
Book a chat with one of our experts.
Starting your own business without (a lot of) money or risk
Start small, invest smartly
As a self-employed person, you may deduct professional expenses, but don't forget that this only pays off if you have sufficient income and pay taxes on it. In the beginning, only buy what you really need and avoid unnecessary expenses. The coffee shop around the corner is great, but many entrepreneurs start at their kitchen table.
Tip: Did you know that you can deduct the costs of setting up your business as professional expenses?
Opt for the appropriate company form
As indicated above, you can choose between starting up as a sole proprietorship or as a company.
One of the advantages of a sole proprietorship is that you don't need start-up capital. The start-up costs are also very limited.
For other company forms, there are major differences in terms of the start-up capital required and the costs associated with setting up the company. When you set up a company, there are five basic company forms:
- A private limited company (bv)
- A limited partnership (CommV)
- A public limited company (nv)
- A cooperative society (cv)
- A partnership
However, be aware that there are also interesting options such as a limited partnership (CommV) or a general partnership (VOF). Discover the different company forms, but be sure to ask your accountant or notary.
Are you still unsure? We can help you choose between a sole proprietorship or a company.
Starting as a secondary occupation
As a self-employed person as a secondary occupation, you pay fewer social security contributions: for the first three years, you pay a provisional contribution of €82,47 euro per quarter. This is calculated on the basis of 20.5% on a (net) taxable income of €1,548.18. Thus, not a high risk. Supposing things go well, you will have to pay an adjustment after three years.
Setting up a business as a main or secondary occupation
You can't just choose. There are a number of conditions attached to the status of self-employed as main and secondary occupation. The essential difference, however, is that in Belgium you must always contribute to social security. As an employee, you do this through your employer; as a self-employed person, you do this directly by paying social security contributions every quarter.
As a self-employed person as your main occupation, you are fully responsible for your social security and you pay higher social security contributions. As a self-employed person as a secondary occupation, you pay lower social security contributions, however, you can only start with this status if you work at least 50% as an employee. As mentioned above, you will then make sufficient social security contributions via your employer.
Make the right choice: difference between main occupation and secondary occupation.
