Starting a business: 7 things to sort out from day one

Choosing the legal form is the first decision with long-term cost. A sole trader is fast and cheap to set up but carries personal liability and a different tax scale than a private company (IKE).

Activity codes must cover all your real activities. Missing codes create problems with invoicing and with participation in subsidised programmes.

Choose your EFKA contribution class deliberately, knowing how it affects both current cost and your future pension.

Set up myDATA-compatible invoicing from the start, a separate business bank account and a clear split between personal and business expenses.

Finally, build a simple 12-month cash plan including VAT, social contributions and advance tax. These obligations are predictable — and they are usually what catches new entrepreneurs out.