One of the reasons we feel overwhelmed even before we start a business is that we don’t know which entity we should choose for our business.
Then we start listening to other self-employed people or other entrepreneurs. Sometimes, we also talk with people who don’t even have a business. At that moment, we feel even more confused and overwhelmed.
It would be much better if we could ask a few questions and have the answers! The owner’s vision and the company’s requirements should determine the model.
Maybe I can share some questions you should ask yourself to help you know which entity is better for your business.
In my opinion, there are important factors you should consider when choosing a business entity:
- Business Model
- Taxation
- Liability & Risk
- Accounting
- Expense & Formality
- Profit
Here is an example of a self-employment choice in the first year.
- In Switzerland, it is easy to start a business as self-employed if you already have customers for your service and product. It is a straightforward process and not costly as other entities.
- My business model is simple. I am the only one working, in my company, with my clients.
- The accounting would be simple because it would be a few monthly invoices and just a few expenses.
- In the beginning, I wouldn’t have much risk or liability.
If you’re a business owner and want to learn all about Swiss taxation then you will want to join the workshop on this exact topic coming up in March. Email me at info@smartbusinessbycristina.com to save your spot or if you have any additional questions!
If you have any questions, please send me an email at info@smartbusinessbycristina.com.
Cristina Quesado
Header image sourced from Unsplash: Jon Tyson
