How do I design a business plan? Who could support me in financing my startup and how can I find the right support programme?
If you are a founder or plan to realise your business idea by founding a company, these questions will certainly sound familiar to you. We have compiled the most important information about founding a company for you and tell you which financing offers are available for startups in Hamburg.
As a founder in Hamburg, you can access an attractive range of advisory services and an excellently developed funding landscape: Various universities, startup centres, the Chamber of Commerce, innovation consultancies and other public and private organisations offer (future) entrepreneurs free startup advice and networking within Hamburg’s startup and innovation ecosystem.
Questions about starting your business?
Startup support in Hamburg
No matter what phase your startup is in, in Hamburg you will find the right support to give your business new power.
In addition to private investors, Hamburg offers founders an excellent infrastructure of public funding and financing programmes. Numerous offers such as startup advice and accelerator and incubator programmes enable startups and scale-ups to grow and drive innovative ideas forward.
Starting a business
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Prior to implementing a business idea, prospective entrepreneurs need to create a business plan. This includes a structured documentation on all key points that are to be considered with regard to realising the business idea.
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The legal form defines the legal framework for an economically active enterprise. The individual legal forms in Germany differ mainly in terms of ownership structure and distribution of risk and/or liability of the managing directors.
It is recommended that founders decide on their legal form at an early stage, as this will provide legal protection during the initiation process. When deciding on the legal form, you might want to consider your entrepreneurial objectives as well as the level of seed capital available to you. -
Depending on the chosen legal form and depending on the prospective business venture, companies are obliged to register with authorities and public agencies. If your business idea is particularly innovative, you should also ascertain whether it is possible to protect the idea. Applications for technical property rights, such as patents and utility models, should be filed at an early stage. The patent office is in charge of registering such rights. Furthermore you can trademark your design and your brand.
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The calculation of the required starting capital is part of the business plan and takes place at the beginning of the founding process. The respective capital requirements depend on various factors. Among other things, the cost of renting the workplace, planned investments for the company, the planned marketing budget and, if necessary, personnel costs are crucial in determining the required level of capital. Hamburg offers several public and private funding opportunities that can help you access the necessary financial resources. These differ in terms of funding levels, conditions and often also in terms of effort in applying.
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If you feel the need to escape your own four walls, you can relocate your business to a coworking space, an office space, a business centre, or a startup centre. There are various work and office spaces available for founders in Hamburg. Many landlords and real estate brokers have now adjusted their services to cater for new enterprises by offering premises that are suited to grow with the business.
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Once the business model has been defined, the corporate design decided and the business created, the founder moves on to the next step: business operations. The task now is to implement the business venture and to generate revenue with the relevant product or service. This process often begins with the development of a prototype, followed by a successful market entry. This is followed by active marketing and targeted customer contact to achieve the desired growth.
Settling in Hamburg
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Founders are liable to pay taxes in Germany for their business activities. The type and level of taxation essentially depends on the chosen legal form. Different types of taxes include e.g. income tax, corporation tax, trade tax, as well as input tax and value-added tax.
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By starting up a business in Germany, founders are subjected to certain rights and obligations. There are a number of legal provisions to be observed also when it comes to dealing with clients and suppliers, using data, concluding lease agreements or insurance policies.
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As your startup grows, so do the tasks involved. To cope with the increasing workload emerging from this, you might have to hire additional employees. But hiring new employees isn´t always that easy. Here you learn more about what makes good recruiting and what legal issues you should be aware of.
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Have you founded a company in another country and are now interested in relocating your business activities to Hamburg? Or are you thinking about founding your startup here in northern Germany? We are happy to provide you with the most important information and hope to answer the big questions that may be on your mind if you are planning to move to Germany and especially to Hamburg. Discover what makes Hamburg the perfect location to set up your business and what you should consider before starting.