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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
Sponsors




07/02/2012   Xavier Corman | Martin van Wunnik   2
Creativity
               level




        Finance & Accounting
                level


07/02/2012          Xavier Corman | Martin van Wunnik   3
Creating your company

             • Company Setup
                – Why?
                – How?
                – What (results) ?

             • Group session

             • Pizza + individual Q&A




07/02/2012                    Xavier Corman | Martin van Wunnik   4
Who are we ?

             Martin van Wunnik




             Xavier Corman




07/02/2012                       Xavier Corman | Martin van Wunnik   5
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
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
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
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
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
How to finance your start-up ?




07/02/2012       Xavier Corman | Martin van Wunnik   11
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
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
Hats/Personalities
                                                     Founders:
                                                     3 years responsibility




07/02/2012       Xavier Corman | Martin van Wunnik       14               14
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
Free & Creative!




             Statutes

             Business-related costs & investments

07/02/2012              Xavier Corman | Martin van Wunnik   16   16
Questions & Answers

                                                           Free download:

                                    http://www.slideshare.net/XavierCorman

                                 http://www.slideshare.net/FinanceCoach24

07/02/2012        Xavier Corman | Martin van Wunnik                     17

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06/03/2012 | How to setup a company in Belgium ?

  • 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

Notas do Editor

  1. Introduction1 : 00:00-00:05 – Martin + Ramon
  2. Introduction1 : 00:00-00:05 - Martin
  3. Introduction1 : 00:00-00:05 – Martin NEXT : XAVIER
  4. Introduction2 : 00:05-00:10 - Xavier
  5. Introduction2 : 00:05-00:10 - Xavier NEXT: MARTIN
  6. Company setup : 00:10-00:25 - Martin
  7. Company setup : 00:10-00:25 - Martin
  8. Company setup : 00:10-00:25 - Martin Who has already created his company ? Who is not in sprl/bvba ?
  9. Company setup : 00:10-00:25 - Martin
  10. Funding : 00:55-01:10 - Martin Friends Family and Fools Next: LEO
  11. Company setup : 00:10-00:25 - Martin Who has already created his company ? Who is not in sprl/bvba ?
  12. Company setup : 00:10-00:25 - Martin Who has already created his company ? Who is not in sprl/bvba ?
  13. Company setup : 00:10-00:25 - Martin Next: Xavier
  14. Company setup : 00:10-00:25 - Martin Who has already created his company ? Who is not in sprl/bvba ?
  15. Company setup : 00:10-00:25 - Martin Next: Xavier
  16. Q&A – 01:30-01:45 – Xavier & Martin