Founding a company from scratch

Setting up a company can be a complicated procedure if you do not have the right advice, so it is essential to have reliable information to avoid any kind of inconvenience in the future.

How to create a company?

To create a company it is essential to carry out the following considerations:
  • Risk assessment. Like any other activity, creating a company involves certain risks, which must be analysed before starting the company.
  • Financial capacity. The business plan must be specifically adjusted to the financial possibilities available. Having a team of specialists in the sector is essential to invest each euro properly.
  • Business viability. Without a doubt, the viability of the market is crucial when considering the creation of a company. Planning with all possibilities in mind is an excellent way to start a completely successful business.
The qualities mentioned are only some of the factors that should be taken into account when creating a company.

Everything will be perfectly detailed in what is known as the Business Plan, to establish the limitations and objectives set out from the beginning.

The legal form of the company

After establishing the first parameters, the legal form of the company must be chosen. In this way, it will have to be established:
  • The number of partners that will constitute the company.
  • The amount of share capital that is held to start managing the business project.
  • The responsibility that the company will have towards third parties.
Finally, depending on the legal form chosen, all the necessary procedures are managed to start with the creation of the company.

What is a partnership?

A partnership is a type of company in which all the members commit themselves to participate under one corporate name.

All will have responsibility for the social debts, in a proportional way, according to what has been previously established and exposed as a right and obligations. Each partner is responsible for any kind of debt generated by the company. However, it is important to point out that there are two types of partners: one who contributes capital, considered as the capitalist partner, and one who only contributes his or her labor force, called the industrial partner. The most significant qualities that any partnership possesses are the following:

  • All those who are in the company name must respond as equal partners.

  • For its creation it is necessary to have at least two partners.
  • It does not require a minimum share capital.
  • All the debts of the company must be paid through its own assets, but if these are not sufficient, the partners must respond.
Furthermore, although it is the commercial code that governs partnerships, the managing partners will carry out all the work of the partnership in addition to making their own decisions without agreeing with the other partners.

Declan Roy
Declan Roy

Professional web fanatic. Subtly charming twitter guru. Amateur music ninja. General zombie evangelist. Award-winning social media nerd. Devoted social media advocate.

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