Becoming your own boss. How to get your business off the ground.
For entrepreneurs, the first milestone is founding their company. It must be well thought out because the right planning, innovative business ideas, and strong financial partners will clear the way for sustainable growth. This article covers successful partnerships, exciting offers, and tips on how entrepreneurs can establish a booming business in any economic environment.
From starting a company to estate planning: The Bank for Entrepreneurs
Successful entrepreneurship begins on day one. Founding a company must be planned carefully, thought out well, and executed with the right partners. Doing so enables a business owner to prosper in any economic situation. After all, good ideas are always in high demand, and – as the saying goes – fortune favors the bold.
Credit Suisse has a special place in its heart for stories about successful businesses. If there is one thing the Bank for Entrepreneurs knows, it's that SMEs are the backbone of the Swiss economy. Andreas Gerber, Head Corporate Banking Switzerland, explains: "Swiss entrepreneurship is a vital pillar for the development of our nation." Credit Suisse can and wants to support it – not only with its own extensive range of offerings but also with its widespread network.
Today, members of this network include dedicated experts, foundations, credit specialists, and business associations. Together, their goal is to promote entrepreneurial spirit in Switzerland and make it grow. "Our national and international network brings investors and companies together, for example," states Andreas Gerber. Events like business conventions or Entrepreneurs' Day round out the multi-layered approach taken by the Bank for Entrepreneurs. Credit Suisse serves companies in every stage of their life cycle – from founding to estate planning.
Setting up a company takes initiative and courage. We want to strengthen this entrepreneurial spirit and support young entrepreneurs as best as we can.
Andreas Gerber, Head Corporate Banking Switzerland
Establishing a start-up: Tips for an ideal start to entrepreneurship
To give companies the best possible support during the early stage, Credit Suisse has been working closely with STARTUPS.CH for more than five years. The company is the market leader in business start-ups in Switzerland. Anyone who wishes to establish their own company can do so through STARTUPS.CH using a process that is almost completely digital and with the expert support of specialists.
The founder and CEO of STARTUPS.CH, Michele Blasucci, explains in an interview how starting a company online works and what company founders absolutely need to bear in mind before day one as entrepreneurs.
Mr. Blasucci, who can found a company via STARTUPS.CH?
Michele Blasucci: Virtually anybody. However, my experience in this sector shows that young entrepreneurs should bring three key assets: Experience in the industry, a good network of clients and, last but not least, capital. In my view, those are the three keys to success for start-ups.
Part of the services offered by STARTUPS.CH is the process of founding a company that is almost completely digital. How does that process of starting a company work?
On our website, individuals establishing a business can choose their desired legal form as well as the corresponding package. Then they are led through the remainder of the process by following dialogs. Once the online process is completed and all their information is entered, we at STARTUPS.CH carry out the next steps.
In particular, that includes a legal review of the documents. If all the requirements are met, the documents are sent to the client for signature. Lastly, STARTUPS.CH takes care of getting the certificate of incorporation notarized and the company entered in the Commercial Register.
What exact preparations should individuals wanting to start a business make before they found their company?
Entrepreneurs should draw up a business plan in advance of establishing a company. The plan explains, for example, how much capital is available and how long it ought to last. As a rule, I advise them to think as far in advance as possible and to properly plan important fundamentals such as the company's structure.
We often see that clients underestimate this part of entrepreneurship. There are countless, extremely challenging tasks involved with starting and running a company. Especially where they are concerned, it is worthwhile contacting the specialists at STARTUPS.CH, who can take over such complex matters, relieving the entrepreneurs of that burden. They can then concentrate on other essential tasks – for instance, customer acquisition.
Successful establishment of a company takes, first of all, an idea – second, a clear plan supporting the idea and, third, a liquid market.
Andreas Gerber, Head of SME Business Switzerland
Where do people starting a business most often make mistakes that can impede the success of their company?
We see the most common source of trouble in the area of administration. Founders of start-ups underestimate, for example, the time and effort that goes into bookkeeping, value-added tax, and payroll accounting. This often results in the first payment reminders from government agencies being delivered to their doorstep only a few months later. They may even receive tax assessments or debt collection letters.
Furthermore, it is often the case that, in a former employment relationship, the person founding the company signed an employment contract containing a non-compete clause. After quitting their jobs, they are prohibited from establishing a company in the same line of business. That is another reason why I advise entrepreneurs to consult experts when starting a company.
Finally, what tips and hints have, in your experience, paid off for business founders?
Individuals establishing a company should definitely prepare well and hold personal consultations with specialists. For example, they need to determine from the very start who will handle administration, payroll accounting, bookkeeping, and other tasks so there are no unpleasant surprises later. Depending on the situation, it may be a good idea not to jump in at the deep end and to make the switch to self-employment gradually.
Found a company and open an account online
Successfully starting a business involves more than having the necessary capital. It also takes professional business banking. Our online service enables entrepreneurs to not only found companies, but they can also open corporate accounts at Credit Suisse. The Bank for Entrepreneurs provides its business banking clients with long-term service – from numerous online products tailored to the company's structure and stage of development to personal advice from local contacts. "Entrepreneurship is in our DNA. Our employees advise with conviction and passion, and our strategy is geared toward corporate clients. We are the Bank for Entrepreneurs," affirms Andreas Gerber.