Opening a business from scratch

Opening a business from scratch is the dream of many Italians who, despite the fear, the limits of the Italian bureaucracy, the often unfair taxation and an endless series of checks that can be received on a daily basis continue to set up on their own day after day.

However, opening a business and making it sustainable and successful over time is a difficult and difficult task.

According to a study carried out by the Studies Office of the CGIA , 55.2% of the companies close their doors within the first five years of life.

Such a data can only make us think about the problems inherent in opening a VAT number, problems that are too often overlooked by those who, with a light heart, decide to start their own business.

Another quite alarming figure is that of the size of companies , in fact over 95% falls under the classification of ” micro-enterprise “, that is, a company:

under 10 employees;
within the 2 million euro turnover;
with zero or almost profits.
It is therefore essential to answer a question: is it possible to open a business of 0, overcome the first difficult years of activity and let your company grow?

OPEN A BUSINESS FROM SCRATCH: HOW TO DO IT
The problem that all new entrepreneurs have is that they are essentially technicians or skilled workers who set up their own businesses but do not have entrepreneurial skills.

The same observation applies to freelancers , who are doctors, lawyers, architects, who think that in the name of their degree they will see themselves flying in their pockets automatically.

The same is true even when talking about non-graduate self-employed workers.

A plumber, a mechanic, an electrician think that knowing how to do the job well is enough , then as people talk about it and by word of mouth they will be fixed all their lives.

Maybe because it’s how it went for their father or grandfather, but today things have changed a little.

Even when talking about exhibitors, the concept does not change. A hairdresser opens his business because he thinks he is a good technician or a good hair technique.

But he has no idea how to do business and run a salon. Same thing for a beautician for example.

Whoever opens a restaurant usually does it because they think they have a particular kitchen or know how to serve their customers in a particular way, but they have no real idea of ​​how a business is carried out in the restaurant business.

How to open a bank or a financial asset?

Financial assets are highly controlled for obvious reasons: savers’ money is handled and can be a means of recycling or subsidizing terrorism. For this reason, nowhere in the world can you operate without strict controls. If you want to undertake a financial activity you need to keep in mind three key factors:

1. In addition to having the necessary capital, it is essential to have a good reputation and contacts in the financial world.

2. If obtaining the license may seem difficult, opening and maintaining correspondent bank accounts that allow you to operate can be an insurmountable problem. The banks, in fact, consider these activities to be at risk of money laundering and before opening an account they will make grueling investigations.

3. It is practically impossible to remain anonymous in this type of activity: the banks and financial institutions with which you wish to undertake a collaboration will ask for a detailed business plan and information on the shareholders.

Taking these factors into consideration, it is necessary to establish according to one’s economic availability, capacity and market what type of activity to undertake and which jurisdiction to choose. A physical presence will be required in the licensing country, with offices, telephones and a minimum of personnel.

Obviously, in order not to pay taxes or pay the minimum, offshore financial centers are convenient. Offshore : literally means “outside territorial waters” or, in the case of a financial transaction “carried out outside the country of residence” (extraterritorial operation). The problem operating with licenses of these jurisdictions considered tax havens is that it is much more difficult to get accepted by European and US financial institutions, necessary to be able to move money, issue credit or debit cards, etc.

How to open a finance company

In the last few years the financial services sector has grown so much. If until a few years ago companies and entrepreneurs were asking for a loan because of income fluctuations, today things have completely changed. Even the private trust of financial companies to get a loan.

The financial intermediation agencies , therefore, have become very competitive as the Lenders, both for subsidized interest rates for a short time nell’elargire the sum of money required.

Precisely because of what has been said, opening a financial company for many represents an opportunity not to be missed because of the gain that could be obtained. But be careful, for those who intend to open it, they must be very careful about different aspects and evaluate well whether it is the case or not to start the practices.

Not everyone knows it, but if opening a financial company means earning money, on the other hand, however, the risk of incurring losses is very high, especially if you do not have the right experience and expertise in the aforementioned sector.
The market is always evolving so if you don’t know the right rules here is that failure is just around the corner.

So our advice is: do you want to start a finance company ? If your answer is yes, then it is very important that you know some things in a way that carefully assesses every single aspect before entering a delicate area like funding . Before going into the topic, we recommend reading the section on how to start many other activities if you still have any doubts.

Open a financial company: bureaucratic process
Let’s start from the bureaucratic obligations , here are the fundamental steps:

Opening of the VAT number at the Revenue Agency ;

Registration with the Register of Financial Consultants;

Enrollment in INPS and INAIL ;

Registration in the register of companies at the Chamber of Commerce ;

Report the activity to the municipality at least 1 month before.

Naturally, in addition to these requisites, one must also possess a suitable qualification and the person who intends to start a financial company must possess the requisites of integrity, professionalism, capital and independence.

To enter the business world you need to have in-depth knowledge of the industry otherwise you won’t go anywhere. Knowing the market trend is therefore fundamental if not even mandatory.

In order to open a financial company , in addition to being in possession of the appropriate qualification, it is necessary to pass an evaluation test called by a special body. After a series of accurate evaluations on the part of the Body, we will proceed with the registration in the register and therefore we will be able to practice the profession.

How to Take Care of Our Elderly Population in a Constant Changing World

One of the saddest things is not realizing that our parents are growing old while we are adulating. But some children are thoughtful and aware of everything that is happening around the world. Most children who have a broader mindset tend to focus on long term decisions. Therefore, they consider elderly care centers for their parents. Some might find it a sinful act, but it is not. You are doing what needs to be done. If you look at the broader picture, you will understand everything clearly. Once you get caught with work and a busy lifestyle, will you have time for your parents? How will you take care of the elderly in a changing world?

The Changing World and Elderly Population

If you look at the world, you will understand that it is not as same as it was a hundred years ago. In a continually changing world, people are helpless. Notably, the elderly population is struggling to pace with speed. This is why you need to spend more time and attention to them. For example, people who lived a hundred years ago wouldn’t know much about HIV and aging as much as the people in the current world.

Aging wasn’t a big deal back then. Even the elderly population was healthy and less immune to any diseases. But now, things have changed, and people are immune to a lot of diseases. It has become impossible to find a single older person who doesn’t have type 2 diabetes. This is why you need to make an effort to take care of your parents and older people in a possible way. One prominent option to take care of your elderly parents is considered an elderly care center.

Elderly Care Center and Its Services

Why do you think elderly centers are an excellent choice to help your elderly parents? If you had known about the services offered at these centers, you would not ask this question. They specialize in taking care of the elderly population. In a continually changing world like this, elderly care centers are one of the must-have. If people start focusing more on these centers, the world will not find helpless older people. They offer a lot of services, including:

  • They supervise the older people throughout the day, even if you are at home you will not be able to take good care of your parents. Why? You’d busy out or doing your 9-5 job, so how will you take care of your parents throughout the day?
  • They will offer medical and health support. Of course, you can offer medical and health support to your parents, but do you have home nursing facilities? You wouldn’t have, but elderly care centers provide their services through experienced professionals.
  • They will not feel lonely. Keeping your parents happy and comfortable is more than a service. Even you will not be able to do it because of your hectic lifestyle.

Expenses for hospitality: clarity on their deductibility

It often happens that a company incurs expenses for the hospitality of customers, suppliers, self-employed workers and other categories of guests. The rules that apply to the deduction of these costs depend on the category of subject and the purpose of hospitality. Expenses have the characteristic of gratuity and, nevertheless, respect the inherence if sustained with reasonableness or according to the industry practice. They are qualified by the tax law as representation expenses , if they are addressed to subjects other than customers, for promotional purposes or public relations. These charges, if addressed to customers during promotional events of presentation of the products or on the occasion of visits to their offices, are entirely deductible. In the different cases, the other categories of the TUIR must be applied . Particular importance assumes hospitality to suppliers, professionals, agents and representatives, as well as unpaid guests.

According to the best doctrine ( AIDC 177/2010) the hospitality costs incurred to accommodate suppliers and their staff must be admitted as a deduction, when the aim is to improve the economic efficiency of the business. Think of the employees of the auditing firm, hosted for free at the company canteen, also to avoid going to the external restaurant (whose costs are reversed to the client) with a waste of money and time. In this context, it is quite clear that the greatest perplexities concern the treatment of hospitality costs of self-employed workers, not only for the question of withholding tax , but also for the deduction ceiling to which the category is subject.

The question has finally been resolved for self-employed workers. The expenses incurred by the client related to the execution of an assignment do not constitute compensation in kind, based on art. 54 c. 5 of the TUIR , so they are not subject to withholding tax, nor to limits of deductibility.

Expenditures related to unrelated subjects from self-employment are still to be analyzed. A classic example based on practice concerns speakers, particularly qualified subjects linked to similar research institutes ( Resolution 11.07.2013, No. 49 / E ). Other examples may include the accompanying works of art sent by the lending museums, the invited candidates for company interviews, etc.

Even in these cases, the deductibility of the cost in the context of business income seems obvious. However, a question arises concerning the possible application of the withholding tax on an occasional self-employment income ( articles 67 and 71 TUIR ) in kind. In determining these incomes it is not, in fact, reproduced the exclusion for expenses related to the execution of the job we find in professional income.

Resolution no. 49 / E / 2013, with which the Inland Revenue has allowed to avoid the withholding in the case of reimbursement of expenses (or direct support of expenses) and absence of compensation, on the assumption that, in the absence of income, the expenses would be deductible and the withholding tax would therefore be repayable.

What is the right legal form for your business

Have you decided to start your own business and challenge a labor market that struggles to get back on your feet? Despite the ISTAT – the National Research Institute – tells us that the future prospects of the country are good , many decide to obtain funding , open an entrepreneurial activity and counter the adverse effects of a stagnant crisis.

At this point, you just have to choose the most appropriate legal form for your business. It is an important choice because the subsequent implications of legal , economic and economic nature depend on itorganizational . And if wrong, it could also prove uneconomical. From individual enterprise to society, here are all the forms to choose from.

INDIVIDUAL COMPANY

You are alone and you do not want other members, unless they are employees and collaborators: the right form for you is the individual enterprise . It is the simplest and least expensive form . In the individual company, the entrepreneur will be the sole owner and can avail himself of the collaboration of employees , even family members . The responsibility for theexercise of the activity will fall in an unlimited way all on him and on his personal patrimony . Starting an individual business is simple: just open the VAT number and register with the Business Register. No public deed is required and no minimum share capital is to be paid.
Starting the individual activity requires the submission, by electronic means, of the Single Communication to the Business Register .

COMPANY OF PEOPLE

When two or more people work together, they must establish a partnership . All the subjects in a company respond in equal measure (with the exception of a limited partnership) with their personal assets. In the Italian legal system we find three types of partnerships :

– simple company ;
– a company in the collective name ;
– limited partnership .

In order to constitute a partnership, once the type has been chosen, a deed of incorporation must be signed as a result of which it is necessaryto present the Single Communication electronically to the Register of Companies of the competent Chamber of Commerce. With the Unica Communication it is possible to fulfill a series of obligations with a single act :

– opening of the VAT code and assignment of the Tax Code ;
– registration in the Register of Companies ;
– INPS obligations for social security purposes;
– INAIL fulfilments for insurance purposes:
– Certified Start of Activity Report (SCIA) for the Single Desk of Productive Activities (SUAP).

CAPITAL SOCIETIES

capital company is defined when more people come together to conduct business. The responsibility , in this case, is limited to the social patrimony : the shareholders, in fact, have patrimonial autonomy and they answer for the social obligations with the patrimony of the society.
Depending on the form chosen, the shareholders participate in the share capital through shares or shares . Joint-stock companies are divided into:

– joint-stock company ;
– joint stock company with sole shareholder ;
– limited partnership for shares ;
limited liability company ;
– limited liability company with sole shareholder .

COOPERATIVE COMPANIES

Finally, there are cooperative societies (to be divided into co-operatives with prevalent and non-prevalent mutuality) and consortia . The main aims of cooperatives are identified in values ​​such as assistance , solidarity and democracy . They are companies that are not intended for private speculation , but to protect members and their work by providing better conditions than those that would come from the free market. A cooperative must be established through a public deed by a notary . Subsequently, the company must register with the Business Registerto acquire legal personality. After the constitution, it is necessary to register with the National Register of Cooperative Companies

Contribution waiver Budget Law 2018, as Inps spoke

We all know: the Budget Law 2018 (100 and fc) introduced a contribution exemption for new hires with permanent employment contracts made starting from January 1, 2018. The main rules in this regard have already been illustrated previously . Today we focus on the operational and accounting instructions on the measure announced by the Inps with circular on 02.03.2018 n. 40 .

The Institute incorporates all the relevant legislation, reporting step by step what was introduced by law, the nature of the exemption , the beneficiary employers , the incentivized employment relationships and the conditions for the right to exemption from the same contribution.

In short, it is recalled that for a maximum of 36 months , the exemption from the payment of 50% of social security contributions by the employer is payable, with the exclusion of premiums due to Inail, up to a maximum of 3 thousand euros per year . to be repaired on a monthly basis, to companies that from 1 January 2018 employ young people who have not reached 30 years of age (high limit to 35 years only for 2018) with a permanent employment contract . The young people in question must never have been employed indefinitely, neither with the employer who is hiring them, nor with others.

There is a waiver that entitles the waiver in case of failure to confirm in the service of previous apprenticeships and the exemption is recognized for one year even in the case of confirmation of apprentices in force in the same company that accesses the exemption. In the case in which for the worker has been used only partially this facilitation from a previous employer, the new subject who hires him indefinitely can access the benefit for the remaining period useful for full use. Attention is also drawn to the verification of possible dismissals for justified objective reasons carried out in the previous six months or to be requested in the months following the recruitment. The reports ofdomestic work and with managers do not give the right to exemption .

The exemption is brought to 100% of the contributions paid by the company , in the event that the worker has carried out a period of school-work alternation or apprenticeship of first or third level with the same employer. The INPS, in addition to reporting the application rules provided for by the law, enter into the merits of some particularities, specifying the applicability in cases such as employment relationships abroad , part-time , contract assignment, recruitment following inspection access, administration and intermittent use. Specific instructions are also provided for the calculation of the incentive and for the cumulability with other forms of relief, exemptions and incentives.

In addition, the Institute announces that it has made available an application for the verification of the existence of previous permanent contracts , accessible from its website (path ” All services – service to verify the existence of permanent relationships “). Not having a declarative value, however, it is advisable to have a declaration signed by the worker.

Finally, providing the instructions for the management of the institution under examination in the UniEmens declarations , Inps states that the amount of the exemption for the months of January and February 2018 can be valued exclusively in the UniEmens flows in March , April and May 2018 .

Interprofessional joint funds: what they are and what are the advantages

According to a recent research by Asfor (Italian Association for Managerial Training), Italian companies are returning to invest in resources and their  corporate training as drivers of growth and progress on the market.

In this scenario, the question that has always afflicted Italian companies concerns the finding of funds to be allocated to staff development programs . From this requirement the interprofessional funds for business training are born, which account for about 45% of the companies in the area.

What are the inter-professional equal funds?

Interprofessional funds for training are associations of an associative nature promoted by the social partners for the training of employed personnel, linked to Law 388/2000 which allows companies to allocate 0.3% of the contributions paid to INPS( mandatory contribution for voluntary unemployment) for the training of its employees. 
The company can then ask the INPS to transfer the contribution to one of the chosen inter-professional funds, which will organize the established training activity.

What are the inter-professional equal funds?

The inter-professional funds established up to now are the following:

•     Training Crafts Fund , fund for the continuous training of craft enterprises; 
•     Fon.Coop , fund for continuing education in cooperative enterprises; 
•     FONDIR , fund for the continuous training of managers of the tertiary sector (Confcommercio); 
•     FOR.TE , fund for continuing education in the tertiary sector (Confcommercio); 
•     FON.TER , fund for continuing education for employees in companies in the service sector, tourism and service distribution sectors (Confesercenti); 
•    Fondimpresa , a fund for the continuous training of Confindustria, Cgil, Cisl and Uil ;
•    Fapi , training fund for small and medium-sized enterprises; 
•    Professional fund, fund for continuing professional studies and related companies ; 
•    FBA , bank fund and insurance; 
•    Fonservizi , fund for training industrial public services.

What are the advantages of joining inter-professional equal funds?

There are many advantages for companies and employees who join the program of an inter-professional joint fund for continuing education. Here are some:

• increase in training as a qualification and retraining of employees, according to the principles of lifelong learning ; 
• increased skills , updated to meet new needs, thus stimulating the growth of companies, also in terms of development according to the Industry 4.0 Plan ; 
• activate a control on the management of business costs dedicated to training, guaranteeing savings ; 
• make the working group more involved and satisfied with a view to improving productivity ; 
• to link growth and progress and increase thecompetitiveness of the company.

How to join and obtain inter-professional equal funds

All companies that are interested in vocational training funds can join on a voluntary basis with the INPS DM10 contributory complaint form used routinely every month. The procedure provides that the document will show the chosen fund in addition to the number of workers subject to the mandatory contribution of 0.3%.

To obtain the contribution to the funds, one must first of all join one of the existing projects. Furthermore, membership is revocable and has an annual duration . Once the request has been made, the fund structures will send businesses the necessary information to gather information about their training plans in order to organize a complete and structured program. 
There are no additional costs for joining an inter-professional fund: in fact, a part of the contribution paid by the company to INPS for this specific destination will then be turned by the institution to the fund chosen for the training activity. Companies that do not take part in any joint course will also have the obligation to pay the supplementary contribution to INPS.    

Returning to the research conducted by the Asfor Observatory, despite the resources allocated to the training of personnel are still below the acceptable threshold for that important leap to the global market challenge, it is necessary to consider good the intention to focus on staff to achieve the goals set for growth and development. 
Interprofessional sources are mostly used by large industrial groups, while there is still an opportunity little exploited for small-medium enterprises, also due to the lack of information on the convenience deriving from this type of investment. Small businesses, precisely because they have used small staff within them, are not generally able to set aside large sums to be allocated to a specific item such as employee training.

The data recorded by the research, therefore, shed light on the willingness of the company managers to increase the budgets for staff training, entrusted to bring the company to more competitive levels.

You can consult the website for further information on the operation of the Funds and on monitoring organizations, ANPAL guidelines on the management of financial resources allocated to the inter-professional funds for continuing education in art. 118, L. 23.12.2000, n. 388.

 

Contributional incentives for over50 and women’s employment

If you are looking for a job you will have noticed one thing: on the net most of the ads are directed to looking for under 40. A company in Busto Arsizio, on the other hand, has decided to hire only over 45 , focusing all on experience and skills gained over time. The company is called Eolo and its initiative goes very well with the benefits for companies that make this choice.

The Law 92/2012 introduced the tax relief with the aim of making more profitable the insertion and / or relocation of the socially weak , what are the workers aged greater than or equal to 50 years , unemployed for over 12 months, or womenof any age without work from 6 to 24 months.

Let’s take a closer look at the tax benefits for companies that take these categories of people.

Discounts for the recruitment of men and women over 50

Incentives for those hiring men and women over the age of 50 apply to the unemployed for at least 12 months (the worker must be registered at the employment center and the state of unemployment must persist for more than 12 months) and concern both permanent and fixed contracts. For permanent hiring , the benefits refer to a reduction of 50% of INPS or INAIL contributions for:

• A maximum period of 18 months ; 
• In the case of transformation of the contract in fixed time ; 
• Even if part-time new employees .

With regard to fixed-term contracts , however, there is always talk of an advantage equal to 50% of INPS or INAIL contributions, but they change the requirements for which it can be applied:

• For a maximum period of 12 months ; 
• Even if newly administered ; 
• Even if part-time new employees .

Discounts for hiring women

Also in this case, the benefits refer to open-ended and fixed-term contracts. For indeterminate contracts, there is talk of a contribution reduction of 50% of INPS and INAIL contributions for a maximum of 18 months and is applicable to:

• Women of any age, unemployed for at least 6 months , living in disadvantaged areas . It must be women residing in regions eligible for funding under the European Union structural funds, as listed in the Ministerial Economic Development Decree of 27/03/2008; 
• Women of any age, employed in professional profiles and economic sectors with marked gender disparity and without regularly paid employment for at least 6 months. The employment disparity rate must exceed at least 25% the gender employment average, identified by inter-ministerial decrees dated 02/09/2013; 
• Women of any age, without a regularly paid job for at least 24 months, wherever resident.

With regard to fixed-term contracts, on the other hand, the remission of 50% of INPS or INAIL contributions is for a maximum of 12 months. The same requirements as the indeterminate apply.

With regard to the condition of subject “without a regularly paid employment”, it is necessary to consider the period of 6 or 24 months, depending on the case, prior to the date of employment and verify that during that period the worker in question did not carry out any work activity. subordinate linked to a contract lasting at least 6 months regardless of the income received, or has not carried out an independent work activity such as to produce a gross annual income of more than 4,800 euros or of coordinated and continuous collaboration whose annual remuneration is higher at 8,000 euros.

Objective conditions to take advantage of the reductions

In order to take advantage of these incentives, certain objective conditions must also be met . In particular, a net increase in employment is required . The subsidy is due if the hiring, the extension and the transformation achieve a net increase in the number of employees compared to the average of the previous 12 months.

This requirement is not necessary if the workplace is made vacant as a result of:

•     Voluntary resignation of the worker; 
•     Incident invalidity or death of the worker; 
•     Retirement due to age limits; 
•     Voluntary reduction of working time; 
•     Dismissal for just cause or justified subjective reason.

The basis of calculation of the company strength for the evaluation of the increase in employment includes the various types of fixed-term and undetermined workers. It is also necessary that the employer respects these conditions :

•     Contributionary regularity ; 
•     Compliance with labor regulations ; 
•     Compliance with the Ccnl .

To take advantage of the incentive all interested employers must submit a specific communication to INPS , using the online application form available in the Social Security Cassette. The form must be presented before sending the tax declaration containing the indication of the facilitated contribution. Within the day after the forwarding, the central information systems perform some formal checks and attribute a positive or negative outcome to the communication. The INPS will carry out retrospectively during the verification, the necessary checks on the actual existence of the conditions of the incentive, according to methods that will be announced by the Institute.

Payment letter: how to write it to the best

With the crisis, delays in payment between companies increase and the difficulty of entrepreneurs to cope with other times of crisis increases. In short, a circle that could never end.

In situations like this, when a company is dealing with unpaid invoices and insolvent customers, it becomes necessary to organize a structured and targeted debt recovery plan , which could also lead the parties to court. Before arriving at the judicial route, however, it is possible to resolve the contentious dispute, by sending the creditor a letter of prompt paymentto the debtor. Let’s see together what things to know to write it better 

Generally, within the invoice itself – in addition to the modalities – are contained the timing for its payment, which usually varies from 30 to 60 days depending on the type of service. If the invoice is not paid in due time, the default interest and some costs incurred by the creditor, such as the costs of recovering the sum, must also be paid.

First of all, the creditor company will have to send the debit letter to the debtor, making sure to use methods that certify the delivery , such as a registered letter with return receipt or a certified e-mail box. .

The remittance payment letter must necessarily contain some elements , which are:

•     Data of the debtor’s creditor ; 
•     The amount to be paid; 
• References to the number and date of the invoice for which the reminder; 
•     How to make the payment ; 
• References to the number of previous reminder letters sent.

Usually the first letter to solicit the payment is an informative letter with a good-natured form , which reminds the debtor that the invoice to be paid has expired. 
This second reminder letter may be followed by a second letter , which must have a more decisive tone, also specifying that legal recourse will be used if payment is not made. It is possible to send a third reminder letter , if the first two have not received a reply: in this case, the active intervention of a lawyer will be necessary , which, by means of a registered letter with acknowledgment of receipt, will put the debtor in default.

It is important, for clarity and simplicity, that the three reminder letters have an object that subdivides them by number, namely:

• ” First invoice payment request “; 
• ” Second invoice payment request “; 
• ” Last payment request for invoice and formal notice “. 

If the three letters of prompt payment do not reach the desired goal, we move to a judicial phase of debt collection : there are many consultancy companies that deal with the recovery of credit and help the entrepreneur who is in this delicate situation.