What does starting a business really require? Tips for the budding entrepreneur
A New Entrepreneur's Guide Series - What does starting a business really require? Tips for the aspiring entrepreneur Starting a business often feels like a bigger step than it actually is. You might have a clear business idea and be highly motivated, but at the same time, many new questions arise: Which business structure should you choose? What notifications need to be made? And how should bookkeeping be organised? You don't need to know everything straight away. The most important thing is [...]
Entrepreneur's salary and income from the business
A New Entrepreneur's Guide Series - Entrepreneur's Salary and Income from the Business Money accumulated in a company's account does not automatically mean that the entire sum is available for the entrepreneur to use personally. How an entrepreneur can earn income from their business activities depends primarily on their company structure. From an accounting perspective, it is important that the company's and the entrepreneur's assets are handled correctly. In different company structures, the entrepreneur's income is accounted for in different ways. Sole trader's private withdrawals in accounting A sole trader does not pay [...]