There are a lot of opportunities in Europe for Entrepreneurs and business owners with innovative business ideas to start and grow their businesses.
Europe is a startup hub for serious business owners who want to change the world with their ideas. However, there are some things your need to know as an entrepreneur if you want to start a business in the continent.
This post is all about things you need to know before you choose this region for your business.
Although Europe is one of the best places to start up a business, there are some factors you need to understand like regulation and the culture in the continent. However, you need to understand these factors to make your business easier for you in the region.
For example, there are 50 countries in the region with different policies and business requirements. Hence, it is important to do your research before choosing any part of the continent for your business.
In Europe, foreigners who want to start a business do not need a work permit, rather what they need is a residency permit in the country they want to set up their business. At the initial stage, this residency permit will be temporary. But after a few years, if your business is successful, you will be able to get a long-term residence permit in the country. However, to qualify for this permit, there are different types of businesses you can set up, like sole traders, partnerships, etc. So, when you think about how to start business Europe, you have to consider this factor.
Your host country will do their due diligence to find out if your true intention is to start a business in their country with the help of the country's national and economic interests. For some countries in the continent, you have to submit your business plan to the appropriate body if you want to get a resident permit, note: your business plan has to show that you’ll invest in and offer services that will help people in the country you have chosen.
Funding is another important aspect you have to consider when you think of how to start business Europe. In some countries in Europe, you must prove that you have a certain amount of money for your business and also some amount of money you’ll use to take care of your family until your startup starts generating money for you.
It is important for business owners especially foreigners to know the average time need for them to start a business in Europe. Basically, it takes about three to four days for you to start a business in some parts of Europe, and it costs about €315 minimums to start a business in the region. However, these figures depend on the country you choose. Some country requires less time and fund while others require more resources from your side.
So, you have to check the time and money needed for each business in your preferred European destination for your business when you think of how to start business Europe.
Protecting your trademark at the global level is one important part you don’t have to miss when you are comparing how to start business European and other parts of the world. Each country in Europe has its own process for registering trademarks and you have to follow those processes to be the actual owner of a particular trademark.
With the knowledge of the various VAT rules in Europe, you’ll be able to pick the right marketing strategy for your business in your preferred country.
For example, those who offer digital services have to pay their value-added tax at the rate of their customers' country instead of the rate of the country where they are based.
You need to register your business domain name with the appropriate bodies in the region to avoid losing your domain name if your domain name provider goes out of business.
To get the attention of most people in the region, you should consider using the European Union domain extension “.eu” or the host country’s domain extension like, “.uk,” “.se,” etc.
Scroll down to read our indepth European Ecommerce Platforms guide. What you should know, European Ecommerce Platforms features, price plans and support. Pros and Cons of European Ecommerce Platforms as a ecommerce, everything is explained below.
How To Start Business Europe Table of Contents
How To Start Business Europe Shopify is a software company that specialises in ecommerce software for small to enterprise level businesses.
How To Start Business Europe Shopify is listed as the best ecommerce software. Shopify was founded in 2006 in Ottawa, Canada and currently has over 6,124 employees registered on Linkedin.