Starting, taking over, restructuring a business or ceasing to trade

Everyone with plans to start their own business needs to invest time preparing. As well as the need to secure financing, some administrative and legal matters also have to be taken care of. The main questions you will need to answer are as follows.

Clearly define your plans and get advice from business start-ups experts before you take the plunge.
To identify your strengths and weaknesses before you start, you need to draw up a business plan. This describes your business, the market, your positioning in relation to competitors, what you want to achieve and how, as well as financial analyses and forecasts.

The choice of legal form depends on several criteria: the type of business, the number of people involved, the financing available, your financial commitments, and the liability you are prepared to take, among other things.

You will have to forecast your turnover for one or more years. The financial plan enables you to determine with more or less precision whether the revenues your business is expected to generate will cover all your outgoings and even allow you to make a profit. Financers, bankers and administrations need to see your financial plan. You have a legal obligation when you start a business to draw one up and file it with a notary.

To start a new business, financial resources are of course necessary. You need to determine how much you can invest in the start-up of your business, what is referred to as your "own funds". In some cases, you will also need external funds.

In addition, you can also find out whether you are eligible for certain subsidies or other financial aid. More information on these is available under the heading "Opens in new windowSupport and subsidies" (FR/NL) of the website of Brussels Economy and Employment.

Under the heading "Opens in new window"Subsidies" (FR/NL) of the website info.hub.brussels, you can find an overview of all regional, federal and European support measures and incentives for which you as an entrepreneur may be able to apply.

In most cases, you must have a notarised deed drawn up, with payment of formation charges, covering the costs of publication in Moniteur belge, the official journal of Belgium, and the notary’s fee. For more information see the website of the Opens in new windowRoyal Federation of Belgian Notaries (FR/NL).

For all other matters, contact a Guichet d'entreprises. Additional information is also published on the Formalities and obligations page under Setting up as self-employed or a shopkeeper on this website.

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