Starting your own business is a step towards independence and freedom. Unfortunately, it is often in the beginning that mistakes are made that can unnecessarily complicate or evn slow down a business before it even gets off the ground. We’ve put together an overview of the most common mistakes new entrepreneurs make – and, more importantly, advice on how to avoid them.

1. Lack of preparation and ignorance of duties

Many people get excited about entrepreneurship but fail to prepare a basic plan. They don’t have a clear understanding of what they actually need to start a business, what the legal requirements are or what the tax obligations are.

How to avoid this:

* Find out basic information about the legal form of the business (e.g. Ltd. VS Self- employed).

* Consult your plans with a professional – lawyer, accountant or specialist firm.

2. Incorrect or incomplete documents for registration in the Commetrial Register

When establishing an LLC, it is necessary to submit a number of documents – articles of association, consent to the location of the registered office, confirmation of the deposit of the registered capital, etc. Errors in these documents are common reason why the court rejects the application for registration.

How to avoid this:

* Use sample documents from experts or have everything prepared from A to Z.

* At Office House, we will prepare all the necessary documents for you and make sure they are filled in correctly.

3. Inappropriate company name

The name of the company must not be confused with another existing company and must comply with the law. If you choose a name alreay used by another business, the court will not approve the registration.

How to avoid this:

* Check the name in the Commercial register

* Ideally, prepare several variations

* Office House can help you check the name and suggest suitable alternatives.

4. Missing or inappropriate business address

* It is not possible to register a company without documenting the consent for the location of the registered office. Moreover, if you choose your home address, it may be impractical – for example, beacuse of the delivery of official mail or the publication of the address on public registers.

How to avoid this:

* Use the virtual office service we offer.

* We will provide you with a prestigious address with mail forwarding and other administrative support.

5. Underestimating the costs and time involved in setting up a business

Setting up a company can be time-consuming and administratively demanding – running around the offices, verifying signatures, registering… Entrepreneurs often waste time that could be devoted to business development.

How to avoid this:

* Concider a turnkey company – Office House will take care of everything from document preparation to the registration in the Commercial Register.

*  Or choose from a range of ready-made companies that you can take over and start your business almost immediately.

Starting a business is not complicated – if you know what you’re doing. The most common problem is not beign prepared and underestimating the formalities. With expert help, you can easily avoid these mistakes.

Office House can help you set up your business, deal with all the paperwork for you, provide you with a registered office and the advice you need. You can then concentrate on the most important thing – starting your own business.