The Cost of Starting a Business in Spain


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The Cost of Starting a Business in Spain

  1. 1. The cost of business 1100 locations | 500 cities | 85 countries Presented by: Name | Date: Date
  2. 2. Overview <ul><li>What is the true cost of setting up a business? </li></ul><ul><li>What are the key expenses in launching a business? </li></ul><ul><li>Is there any way to control your costs? </li></ul>
  3. 3. Year One – Key Business Costs <ul><li>Set-up and registration </li></ul><ul><li>Accountancy and tax </li></ul><ul><li>Premises </li></ul><ul><li>Staff costs </li></ul><ul><li>Running the business </li></ul><ul><li>Website and marketing </li></ul><ul><li>Health and safety </li></ul><ul><li>Cash management & factoring </li></ul>
  4. 4. The business plan Competitors Customers Suppliers Copyright Patents Staff Tech Skills Finance Marketing Cash flow
  5. 5. Cost 1: Set-up and registration <ul><li>Company Formation: </li></ul><ul><ul><li>Private limited company (Ltd) </li></ul></ul><ul><ul><li>Partnership </li></ul></ul><ul><ul><li>Limited liability partnership (LLP) </li></ul></ul><ul><ul><li>Sole trader </li></ul></ul><ul><li>Requirements: </li></ul><ul><ul><li>Unique name </li></ul></ul><ul><ul><li>Preparing the memorandum and articles of association </li></ul></ul><ul><ul><li>Filing incorporation docs </li></ul></ul><ul><ul><li>Registering for country Tax </li></ul></ul><ul><ul><li>Signing up for employers’ liability insurance </li></ul></ul>FROM € 250 COST
  6. 6. Cost 2: Accountancy and tax <ul><li>Accountant </li></ul><ul><li>Bookkeeping </li></ul><ul><li>Annual Tax Returns </li></ul><ul><li>Payroll </li></ul><ul><li>Audit </li></ul>ALLOW € 800 COST
  7. 7. Cost 4: Staff + Wages Cost considerations Cost of staff 40-100% additional cost <ul><li>Holiday pay </li></ul><ul><li>Absences </li></ul><ul><li>Employers Tax </li></ul><ul><li>Insurance premiums </li></ul><ul><li>Administrative costs </li></ul><ul><li>Maternity/Paternity pay </li></ul>COST FROM € 2500
  8. 8. Cost 3: Premises <ul><li>Home working </li></ul><ul><ul><li>from € 200 per month </li></ul></ul><ul><li>Long lease office space </li></ul><ul><ul><li>from €1000 per month </li></ul></ul><ul><li>Serviced Offices </li></ul><ul><ul><li>from €400 per month </li></ul></ul><ul><li>Mobile working </li></ul><ul><ul><li>from €350 per month </li></ul></ul>
  9. 9. Cost 5: Running the business Stationery Office Furniture Legal Health & Safety Direct mail Marketing IT Phone support Data Recovery Reception Security Cleaning Maintenance Software Hardware Systems APPROX € 1000 COST
  10. 10. Cost 6: Website and marketing <ul><li>Brochures </li></ul><ul><li>Stationary print costs </li></ul><ul><li>Promotion </li></ul><ul><li>Website Costs </li></ul><ul><li>Advertising </li></ul>FROM € 500 COST
  11. 11. Cost 8: Cash management & factoring 1 in 3 start-up business fail Cash flow problems key cause FACTORING Invoice Factor/ Bank 85% Fees: 1.5-3% over base rate Admin: 0.75-2.5% turnover Invoice Discounting Invoice Bank Up to 90% Collects debt Fees: 1.5-3% over base rate Admin: 0.2-0.5% turnover Collects debt Cash flow solution includes: FROM € 200 COST
  12. 12. And finally… Remember… <ul><li>Watch out for the upsell </li></ul><ul><li>Don’t spend money on things you don’t really need </li></ul><ul><li>Factor in the cost of your time </li></ul>