The checklist for founders: 15 steps to your own company, Part III

Step by step to your company: The path to self-employment does not always seem easy. Formal, legal and personal issues are often unresolved.

Not sure which legal form suits your company? Or which administrative procedures are necessary?

After the company was founded

To ensure that your company is successful in the long term, you should follow a few steps after setting up. You should also think about risk provision for yourself and your employees.

Risk provisioning in the company: Insurances

There are a number of insurance policies you can take out to protect yourself and your employees as well as possible. Below you will find a list of the most important insurances:

1. Business insurance (business and/or professional liability, business contents insurance)
2. Health and long-term care insurance (statutory or private)
3. Pension insurance (statutory or private)
4. Social security funds (e.g. construction, painters and varnishers, artists’ social security fund, etc.)
5. Statutory accident insurance in the employers’ liability insurance association
6. Unemployment insurance
7. Occupational disability insurance
8. Financial loss insurance (D&O insurance)

Recruitment of employees and further training

If you hire employees, the company must apply for a company number from the Federal Employment Agency. The company must also be registered with the health insurance and employers’ liability insurance association. It also makes sense to take and offer further training in accounting, controlling and business administration.

Final check

Here you will find an overview of all the necessary steps for your successful and legally compliant start-up:

1. Your business idea and planning
2. Your business plan and financing
3. Full-time or part-time start-up
4. Enquiry at the IHK
5. Authorisation or other bureaucratic requirements
6. Registration with the tax office
7. Finding a name for your company
8. The legal form
9. The visit to the notary
10. Preparation of articles of association and list of shareholders
11. The appointment of the managing director
12. Payment of the share capital
13. Risk provisioning in the company: Insurances
14. Recruitment of employees and further training