ENTREPRENEURSHIP GUIDE

TO DO: START A BUSINESS

A collaborative and international toolkit

The sole responsibility of this publication lies with the author. The European Union is not
responsible for any use that may be made of the information contained therein.
Index
Index 1

FOREWORD 2

1. INTRODUCTION 3

2. UNDERSTAND 4
2.1. What is entrepreneurship? Main features 4
2.2. Differences between traditional and social entrepreneurship 6
Comparison between traditional and social entrepreneurship 6
2.3 How to become a social entrepreneur 7

3.IDEATE 8
3.1. Understand the ecosystem 8
3.2. Love the problem not the solution 9

4.LAUNCH 14
4.1 Lean Canvas 14
4.2 Validate your idea 16
4.3 Pitch and Grow 17

5. MANAGE YOUR BUSINESS 18

5.1. Build and Manage your team 18
5.2. Find partners to grow 19
5.3 Tools and resources 20

6.MONITOR, ASSESS AND VALIDATE 23

6.1. How to monitor your own performance 23
How to monitor your staff performance 24
6.2. Business validation techniques 27

7.SUPPORT YOUR VENTURE 30

7.1 Strategies to turn PAs in your allies 30
7.2 EU funds to support you 31
7.3 Getting funds locally 33

8.LEGISLATIVE REQUIREMENTS 35
ITALY 35

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 LATVIA 36
GERMANY 36
PORTUGAL 39
POLAND 41
GREECE 43

9.PRACTICAL SUPPORT 48
ITALY 48
LATVIA 50
PORTUGAL 51
GERMANY 58
POLAND 60
GREECE 63

10.CONCLUDING REMARKS 65

2
FOREWORD
Together with our partners Creative Ideas from Latvia, Folklore Company of
Varnavas from Greece, Project School from Italy, Green Elephant Foundation
from Poland and Municipality of Vila do Conde from Portugal we from
ZiB-Zentrum für interkulturelle Bildung und Arbeit e.V. from Germany could
realise this project. Although there are special challenges for the project, the
knowledge of our partnership will help to achieve the set goals and to help our
target group, disadvantaged people from our partner regions, to gain important
knowledge of other european cultures and for re-entering working life.

We hope that this publication as well as the other information on our homepage
https://projectecho.eu/ and education platform https://zibev.education will be
used to achieve our project goals across project regions.

Enjoy reading our entrepreneurship guide and soon further project results.

Danny Franke
MBA, Board of Directors ZiB e.V.

Credits: Anna Magura (2022)

3
1. INTRODUCTION
This entrepreneurship guide serves the purpose of providing an overview of
the many issues starting a business may entail. It aims to be the starting point for
all those who want to improve their knowledge and skills in the world of
entrepreneurship and in particular in the realm of social entrepreneurship and
entrepreneurship related to cultural heritage. It combines the knowledge of
project partners coming from: Germany, Italy, Portugal, Poland and Greece and
provides a general as well as context-specific overview of the most important
aspects to have in mind when building an enterprise.

In more details, you will learn the main features regarding an enterprise and
practical steps to become an entrepreneur which encompass six main phases:
Understand, Ideate, Launch, Manage, Monitor & Assess and Support your
Venture.
In the ‘Understand’ phase you will learn what we mean by entrepreneurship and
how social entrepreneurship differs from the traditional one, as well as the most
common pathways to become an entrepreneur.
In the ‘Ideate’ section we will show you ways to read the system around you and
how to start from the problem to develop effective solutions in the form of
product and/or services.
The ‘Launch’ chapter gets to the core of your business, introducing the business
idea validation, the business model canvas and the pitching - all key techniques to
kick-start your enterprise once your idea is defined.
Later on, in the ‘Manage’ chapter we discuss how to build and manage your team,
find suitable partners and give you a wide array of practical tools and resources
which are complemented by know-how and tools on how to ‘Monitor, Assess and
Validate’ your business and performance.
Finally, in the ‘Support your venture’ we will advise you on the collaborators and
entities to turn to in order to boost the success of your enterprise.
Additionally, specific sections on the legislative requirements and support
mechanisms in each one of the consortium countries are included.

Therefore, without lingering any further, we invite you to start right away and
gain valuable knowledge and tools which we hope will support you in becoming
an entrepreneur!

4
2. UNDERSTAND

2.1. What is entrepreneurship? Main features

Entrepreneurship is the process of turning ideas into reality by creating a specific

product or service.
Based on personal goals and perspectives, individuals have different opinions on
how to run a business.

The first elements that you need to start a business are:

1. Funds
Independently from the form of entrepreneur that you want to develop, funds
are needed to start the business. Funds can be collected in many ways, i.e.
through banks, private investors, family and friends, and crowdfunding.
Funds will be used to buy assets, pay human resources, promote your business,
and create its identity (logo, website etc).

2. Assets (material or immaterial)

Based on the type of services or goods you want to deliver, different assets will be
acquired. If you want to run a restaurant you will need a kitchen, a fridge, tables,
a cash register etc., while if you want to start a consultancy firm you need
advanced software, laptops, an internet connection, a coworking etc.

3. Human resources
Whatever you want to open a hairdresser, a restaurant, an IT Company you need
a certain number of human resources. As soon as you start you need to prioritize
the ones that are more necessary to launch the business. It is important to have a
team of people specialized in different things that combine their abilities toward
a common goal, the business.

From the combination of funds, assets and human resources a product or a

service is delivered on the market to gain profits. This is the process common
to all entrepreneurship.

Based on Indeed Career Guide1 can be distinguished 12 types of

entrepreneurship, among which the following 6 stand out:
1
https://in.indeed.com/career-advice/career-development/types-of-entrepreneurship
5
1. Small businesses make profits to support their families and live a modest
lifestyle. As small businesses are small and lack the innovative factor, they fail to
attract venture capital for smooth running. Employees are usually local people or
part of the family. I.e. hairdressers, grocery shops, plumbers, carpenters, small
boutiques

2. Large companies often start as small businesses which accelerate growth. They
are big companies with a lot of employees and they are sustainable because they
focus their attention on innovation and professionals who know how to sustain
innovation. Employees usually work in teams and they have dedicated time to
training and team-building activities.

3. Scalable startup starts with a unique idea and creates a product or service
which is missing in the market and creates a solution. These types of businesses
receive funds from venture capitalists or other entrepreneurs such as the
so-called business angels. They hire specialized employees because they seek
rapid expansion and high returns.

4. International businesses operate internationally, exporting goods or services

from one Country to a foreign one. Usually, international entrepreneurs sell
products or services locally until they reach the maturity stage and export to earn
profit from international markets.

5. Environmental entrepreneurship, also known as ecopreneurship and green

entrepreneurship. Profit generation and a concern for the environment drive the
primary goal of such businesses. They try to replace the existing product or
services with products that are environmentally safe to use. It prioritises the
impact on people and the environment besides profits.

6. Social entrepreneurship is based on the recognition of the existence of a social

problem for which the entrepreneur decides to tailor the business activities and
generate social value. They develop services, solutions or products to solve
critical social issues and bring about social change and achieve social benefits.
Instead of focusing only on profits, the founders want to make the world a better
place to live.

2.2. Differences between traditional and social entrepreneurship

As seen before, there are many types of entrepreneurship that are differentiated
by many factors such as the dimension, the scope, the level of innovation as well
as the attention to the social impact.
Social entrepreneurs use entrepreneurial skills to identify and solve social

6
problems and reinvest the profit generated by selling products or services.
The problems that want to tackle can be referred to as social, cultural and
environmental aspects: inclusion of the most vulnerables of the community,
creation of new job opportunities, conservation, environmental sustainability,
preservation of cultural heritage, and improvement of health and safety. Social
entrepreneurship exists primarily to meet its mission and pay off the community,
instead of being focused on the profit gained.
While in traditional entrepreneurship profit is given to the shareholders or
owner of the business to increase their wealth, in social entrepreneurship profit
is reinvested to generate a better and more impact on society.

Comparison between traditional and social entrepreneurship

Traditional
Social entrepreneurship
entrepreneurship

Profit is also reinvested for the

Profit belongs to the owner
community's well-being

Solve one or more problems related to

Answer to a market need social, economic, or environmental
aspects

The price is defined to cover the Sell products or services with an

cost and make profit accessible/affordable price

2.3 How to become a social entrepreneur

To be a professional entrepreneur you should have the mindset to succeed, at

least a specific training which will introduce you not only to the required
entrepreneurial skills but also economic and legislative pieces of knowledge that
you have to know to be part of the social change. Apart from those, you should
have a bunch of indispensable soft skills to communicate and interact with
others.

7
Become a social
Description
entrepreneur
- the capacity to turn problems into solutions
Mindset that improve the community well-being
- Believe in your ideas hard and constantly

- you can either join a professional course or a

University career path that helps you to gain
knowledge about some specific topics: social
investments, profit and loss, sustainability’
Training areas; financial analysis; diversification of
funds.
I.e. The 9 best courses in 2022:
https://digitaldefynd.com/best-social-entrepreneurship
-courses/#3_Social_Entrepreneurship_Courses_edX

- Management skills
- Teamwork and leadership skills
- Communication and listening
- Customer service skills
Soft Skills
- Problem-solving skills
- Critical thinking skills
- Strategic thinking and planning skills
- Time management and organizational skills

- Commercial right
- Civil right
- Business administration
- Economy
Technical Skills - Political Science
- Business Plan
- Company evaluation
- Accountability/ Bookkeeping
- Finance

8
3.IDEATE
3.1. Understand the ecosystem
Becoming an Entrepreneur needs good preparation. Having adequate skills for
what you like to do is often not enough, because of that you need to do a needs
analysis of the area where you like to work to see if there is a market for your
offer. There are several things you should check:

Local business environment

• Number/% of SME, large enterprises, start-up scene etc.

• promotion for founder

• law restrictions to get self-employed/establish new companies

• risks and potential benefits, also gender based if applicable

• Assessment of institutional arrangements

• Identification strengthening requirements

Opportunities for new businesses

• Cost assessments

• Risk management

• Competition in different sectors

• Identification of requirements/skills/personality traits of start ups

• Identification of good examples as orientation for potential business areas.

Market research is an important part of product development and brand

building. Many people think - not without good reason - of the people who
address you on the street and take you to a big office, where you have to answer a
lot of questions, try things out etc. Such market research institutes are usually
used by big players who can afford it. This does not apply to the vast majority of
start-ups, especially in the area of cultural heritage, of course. Nevertheless, this

9
does not mean that you should do without market research.

3.2. Love the problem not the solution2

You’ve probably heard this quote before: “Fall in love with the problem not the
solution” when looking for a better decision framework.

But what does “falling in love with the problem” really mean? Aren’t problems
just irritations we’d like to be rid of? So wouldn’t it make sense to love the
solutions to these pesky problems?

It’s human nature to love answers, unfortunately that very tendency can prevent
us from coming up with truly delightful solutions. When faced with a problem,
we tend to stop ideating as soon as we think we’ve found an answer. This
Einstellung Effect keeps us from finding the right solutions since our first ideas
are rarely our best ideas. But it gets worse when we move forward into
development and inevitably experience customer pushback; we would rather
explain those issues away (sometimes even blame the customers) than go back to
the drawing board.

So, how do we overcome our counterproductive tendency to fixate on a specific

solution?

The Lean Startup Methodology provides a structured process to help us focus on

the problem, and through experimentation, find the best solution.

Step 1: Define the problem

First, you must be crystal clear on the problem you are trying to solve. One
technique is to draft a vision statement that articulates what the world will look
like after you’ve solved this problem. For example, if you are trying to solve the
problem of long security lines at airports, your vision statement might be: “No
passenger will wait more than five minutes to get through security.” The best
vision statements are straightforward and pithy, so they’re easy for everyone
understand and remember.

You’d be surprised by how many product teams skip this very important step.
When asked to provide a missing vision statement, it’s often during deliberations
that the team discovers they aren’t all on the same page regarding the problem

2
Lean Startup Co. Education Program, Decision Framework: Falling in Love With the Problem, Part
1 https://leanstartup.co/falling-love-problem/;
https://www.wordsforwellness.com/blog/post/77454/what-problem-does-your-product-or-service-s
olve/

10
they’re trying to solve. How do you identify the right problem? Spend time with
your customers. This will help you attain the deep customer empathy needed to
identify truly meaningful problems.

Going forward, your vision statement will serve as your North Star, allowing you
to evaluate the different solutions you come up with by how well they achieve
your vision. Continuously referring back to your vision statement is one way to
demonstrate your love for the problem.

Step 2: Test your solutions

Next, when you come up with ideas, don’t feel the need to temper any enthusiasm
that may arise. This passion is helpful in making the process fun and engaging.
However, you can provide a satisfactory segue from focusing on one idea to
ideating on more solutions by writing the idea down. Starting with a goal is also
helpful, e.g. commit to coming up with seven ideas. This will keep you honest
about continuing with ideation even if you think you’ve already found the
answer.

Remember, before a particular idea is tested, you should clarify the key
assumptions you are making for this idea to work. These assumptions will drive
the experiments you run in the Build-Measure-Learn Feedback Loop, and allow
you to quickly learn whether your idea will work as is, if it can be improved, or
whether it should be abandoned for another idea.

If you happen to find yourself in love with a particular idea, you can make that
the first one you put through the Build-Measure-Learn loop. You’ll have several
other ideas ready and waiting to be worked on if it turns out that solution you
were pining after wasn’t Mr. Right after all. Resiliently and resolutely moving on
to the next idea, when the one you were excited about didn’t work out, is another
way of demonstrating your love for the problem.

Step 3: Use the decision framework to fall in love with the right solution

Finally, to fall in love with the problem means a commitment to gaining customer
empathy, considering a broad range of ideas and experimenting with your
customers. Should you feel guilty if you’ve fallen in love with a solution? Of
course not, as long as you follow a structured process that allows you to say
goodbye to a solution that’s not working, and fall in love with the next one you
try!

Identify a product or service to address your problem

No company without a product. Of course, the product can also be a service - and
also products do not have to be physical: An online course or an e-book are also
products. In any case, the product is the basis of your entrepreneurial success.

11
However, product policy generally includes all decisions and actions that are
directly related to the product. Also:

- Which products (or only one?) do I offer?

- Product quality

- Services around the product

- packing

- Marking (i.e. under which brand the product should run)

In addition, questions about the breadth and depth of supply also belong to the
area of product policy, especially in the area of innovation.

In terms of product breadth, there are two extremes: the generalist (a very broad
range of products/services) and the specialist (highly specialized
products/services are offered in a clearly defined segment).

In your area of Entrepreneurship, you will most likely be a specialist - usually it is

a matter of niche products, which you can treat in depth due to special
knowledge or special interest.

Building a brand is on the one hand a science in itself, on the other hand it is
actually "only" a by-product of an intelligent business concept.

Today, however, the principle that every innovation, every new business idea
should be devised by the brand already applies in some circles. That's not wrong
either. Thinking from the brand's point of view means developing a holistic
business concept right from the start that is coherent both internally and
externally and where it is clear at all times what this business stands for.

The first approach - after a general examination of the economic viability of your
business idea (i.e. whether you can earn money with it) - is market research.
With it you have already determined who could buy your product and why or
what your target group needs.

When it comes to a brand, many first think of the logo and a fancy website. But a
brand is much more than just a logo. To be a brand means to have real
recognition value, because you embody certain values and unique selling points.

The question of what makes you special and what you stand for is at least as
important as the visual design. It is often said that a brand must be literally
memorable. So, it must be worth remembering. That may sound banal at first,
but it isn't.

12
If you are not offering a unique, completely new product, there are others who
offer something similar. How can you now make it clear to people that they
should buy your product (or use your service, etc.)?

An example: If you open a Turkish snack bar, there are probably already some of
them. The fact that you offer "original Turkish cuisine" will no longer really be a
USP (Unique Selling Point).

So it is important that you think before you even start, what makes you different
from the other providers (really!). This is also essential for a business plan.

But what does it really mean to differentiate? That is always a tightrope walk.
Realistically, of course, hardly anyone really has a unique innovation. But anyone
who opens the tenth hairdressing salon in their neighbourhood has to offer more
than USP:

- all top cuts of the season

- Appointment without advance notice

- Wash&Cut from 10€

In practice, it often looks something like this – but that has nothing to do with a
clever brand concept. Why are some companies nevertheless successful with the
100th copy of the same business idea? Because demand is high enough. Then, and
only then, can something like this work. Especially if you want to get a subsidy
(e.g. a start-up subsidy), you usually have to pay close attention to whether the
company has enough USPs.

Those who start up in the field of Social Heritage sometimes find it easier,
because there is not much competition. Assuming that we want to open a towing
museum where visitors can tow a piece along the old towing routes, there is
(probably) not too much competition yet. The USP is then easy to find:

We are the only towing museum in northern Germany (if that's true).

But beware: never forget - having a unique selling point doesn't mean that it's a
viable business idea. Perhaps nobody is interested in it. Maybe it's too expensive.
Perhaps it is legally problematic. There are always several factors to consider.

Even if you have a USP, that doesn't mean you have to leave it at that. Other
points can be added, for example:

- We only serve food that was available at the time of towing.

- We strive for sustainability: there is no plastic tableware etc.

13
The logo should embody these values. The best thing to do is to create a briefing
for your graphic designer, which will be particularly important for your brand.
You will learn exactly how to do this in the practical workshop this week.

So before launching a product, it is recommended to do market research.

Market research

Market research is an important part of product development and brand

building. Many people think - not without good reason - of the people who
address you on the street and take you to a big office, where you have to answer a
lot of questions, try things out etc. Such market research institutes are usually
used by big players who can afford it. This does not apply to the vast majority of
start-ups, especially in the area of cultural heritage, of course. Nevertheless, this
does not mean that you should do without market research. In this video we
show you which classical methods of market research there are and how you can
use them. In addition, we show you two or three tricks that you can also use to
get to know your target group without any great financial outlay.

14
4.LAUNCH
To launch a business, you need to formulate your business model and test the
viability of your business idea. We propose to use Lean Canvas - a one-page
business plan method for startups - for formulating your business model.
Furthermore, we propose several activities that will help you to find out if your
business idea is a good fit for the market.

4.1 Lean Canvas

Business Model Canvas is a one-page business plan method. It uses a
problem-solution strategy to formulate a business model and offers a visual chart
with elements describing a firm's or product's value proposition, infrastructure,
customers, and finances.

Business Model Canvas is a great tool for analyzing and visualizing your business
model!
The template of Business Model Canvas was introduced in 2004 by Alexander
Osterwalder, a Swiss business theorist, author, speaker, consultant, and
entrepreneur.

For starting a business, we propose to use Lean Canvas. It is a version of the

Business Model Canvas adapted by Ash Maurya in 2010 specifically for startups.
The Lean Canvas focuses on addressing broad customer problems and solutions
and delivering them to customer segments through a unique value proposition.

Fig. 01 Business Model Canvas

15
Lean Canvas has 9 building blocks:
1. PROBLEM - identify 1-3 problems that your potential customers have and that
you are addressing with your product or service. Here you should also list
existing alternatives to solve these problems.
2. CUSTOMER SEGMENTS - identify and describe your potential customers and
users (in terms of age, gender, income level etc.). Also, characterise the early
adopters who will try your product or service first.
3. UNIQUE VALUE PROPOSITION - formulate a clear and compelling message that
summarises why a consumer should buy your product or use a service. Social
businesses should outline the social value that their business is creating.
4. SOLUTIONS - outline possible solutions to the problems you identified in
building block No 1.
5. CHANNELS - list your path to customers by describing how your product or
service will reach them.
6. REVENUE STREAMS - list your sources of revenue when running a business.
7. COST STRUCTURE - list your costs when running a business.
8. KEY METRICS - list the key numbers that will tell you how your business is
doing.
9. UNFAIR ADVANTAGE - identify if there is something that cannot be easily
copied or bought, creating for you an “unfair” advantage over your competitors.

To create your Lean Canvas, all you need is a sheet of paper, sticky notes and
pens. Once you have worked through all these building blocks, you’ll have a
detailed picture of your business model.

The canvas fields can be continually updated to reflect any new developments.

4.2 Validate your idea

It is very important to validate your business ideas early to ensure you don’t
waste time and resources creating a product or service that will not be viable.

Therefore we use idea validation - a process of testing and validating your idea
prior to launching your product or service. The purpose is to make sure your
product or service has a real potential in the market.

We have provided a list of questions you need to answer before moving forward
with your idea.

● Is there a market for the product or service you intend to offer? Are people
willing to buy your product or service?
● If there is a market, is it big enough? Will you have enough customers to
make your business profitable?
● Are people willing to pay the price you have in mind?

16
To find answers to these questions, you can use various methods. Internet
research can provide information about your competitors and target audience.
You can also check specialised forums, which will help to get a more focused
insight and contacts.

A very useful tool is interviews with potential customers. Ask them about their
motivations, preferences, needs, and the products and services they currently
use.

Interviews can be face-to-face, online, by using questionnaires etc. Finding the

right people is the key - don’t ask family or friends, focus on your potential
customers.

Idea validation might show that your product or service doesn’t have strong
validity, in which case, you can use it to improve your idea and repeat the
validation process.

4.3 Pitch and Grow

Pitching in business refers to presenting business ideas to another party.
Basically, a company pitch is: a short presentation where we describe a company,
regardless of the type of business it does and the degree to which its central
business idea has been developed.

The pivotal elements of the perfect pitch for a start-up consist of presenting: the
problem/need that the business idea wants to solve/satisfy, the solution/product
ratio, the study of the team and the necessary investments, the aspect related to
competitors and the target market. And again, the development of the pitch
cannot disregard a business model (how the business idea creates, distributes
and captures value) and a roadmap that sets out the activities and fundamental
steps for the growth of the business project. This project can be illustrated in the
space of two or three minutes - in this case we speak of a 'lift pitch', to capture the
attention of the interlocutor in the typical time of a lift ride - or presented in a
less formal and more friendly context, such as during an aperitif ('pitch and
drink').
Before you begin creating your business pitch model, you’ll need to focus on:

- Who you’re directing your presentation to – Who’s my audience?

- What the objectives of this pitch are – What do I want to achieve with this
presentation?
- How will this presentation be given – Will I present it in person or will I
be sending it over email? Will I use audiovisual components

17
Fig. 02 Perfect your Business Pitch (Nordea, 2022)

The Pitch can follow the scheme presented above (Nordea, 2022), starting with:

1) Introduction;
2) Presentation of the Problem;
3) Customer need;
4) The Solution;
5) Product name and
6) Networking.

More info here:

https://www.nordea.fi/en/business/your-company/start-your-business/perfect-you
r-business-pitch.html

Tip: Watch other people’s pitches and review them before working on your pitch – it
will help you to be more rational about yours.

18
5. MANAGE YOUR BUSINESS
5.1. Build and Manage your team
Choosing the right partners and building the right team to support your business
is a detail that can ultimately determine its own future.
The process of building and managing your team involves just four steps:

Build the puzzle

It's important to choose the right people in the right positions. Carefully study the
background of each of the candidates and then try to "match" their talents and
skills to the needs at hand.
Ideally, the team members you come up with should "complement" each other in
terms of their capabilities and what they can bring to the joint effort.

Show trust
By giving trust to the most experienced members of your team, you are
essentially creating a kind of hierarchy within the team. However, this choice has
both positive and negative aspects: on the one hand, you get a structure that can
significantly speed up certain processes, but on the other hand, there is a risk that
the person you assign tasks to may care more about his or her own promotion
and possibly about maintaining the position than about the progress of the
project at hand.
How can you significantly reduce this latter possibility? Quite simply, by getting
personally involved in matters relating to the functioning of the team and, in
particular, by communicating directly with team members and recording
everything they have to say to you.

Contact and record

Try to find out for yourself, by chatting to your team members, how they really
feel as they work for your business. Seek convincing answers to questions such
as, for example, which team members are still working harmoniously with each
other after some time, which ones are still "bleeding" for the project in question,
which ones have objections to the processes and, most importantly, why they
maintain any objections and reservations.
This is the only way to keep morale high and, most importantly, to improve the
effectiveness of your team.

Fine-tune the details and repeat where necessary

The evolution of your team is a continuous and uninterrupted process that does
not stop after the selection of members or even with the completion of the first

19
project. A struggle that aims for perfection, as defined through simplifying
processes, limiting wasted time and taking on increasingly challenging projects,
which (hopefully) will bring even greater financial and moral rewards.

5.2. Find partners to grow3

Successful businesses often find themselves in need of more resources and
partners. Knowing how to find them can be hard, but it’s not impossible.
Organization, persistence and patience will pay off as you search for new
investors and business partners. Finding a business partner can help you
overcome your shortfalls, and your partnership may help you turn a weakness
into a strength. The best business partners not only complement each other’s
strengths, but they also make up for each other’s weaknesses as well. Here are
some of the ways you can look for and engage potential partners.

Identify other organizations and reach out

You and other team members can brainstorm a list of potential partner
organizations. The point of contact between both organizations should be the
team member most knowledgeable about the potential partner. It is
recommended having a team member dedicated to exploring his or her
networks for potential partners. Previous employers and managers might know
other organizations that you can contact. You and your staff members can talk to
family members to see if there are any potential partners within your familial
networks. Partners and investors are often one email, one phone call and one
conversation away. Take the initiative and reach out.

Knowing yourself and potential partners

It’s important to know what your short-term and long-term ow or expand your
list of potential partners down the road. Do some preliminary research on
important staff and the history of an organization; it can be crucial to finding the
right partner. This can ensure that the partnerships and relationships you
cultivate with other businesses or organizations are productive, amicable and
helpful in the long-term.

3
https://ylai.state.gov/expand-your-horizon-explore-new-ways-to-find-partners-and-grow-your-bus
iness/
20
 Defining the relationship

When you finally select your partner organization, you want to consider next the
scope and extent of your relationship. What issues would you want to collaborate
on? What issues do you want to manage separately? All these questions should be
answered as you establish your partnerships. Not defining your roles and
responsibilities can lead to potential confusion and miscommunication down the
road.

Finding and selecting the correct partner organisation is an important task for
any aspiring business. Every entrepreneur should do careful research into whom
they want to partner with and for what reasons.

5.3 Tools and resources

In today’s increasingly virtual world, it’s especially important to be able to
manage your business remotely, and to have all the tools necessary to remain
competitive and grow. From building and maintaining a professional website to
staying in touch with your customers and team members, utilizing online tools is
a low-cost and highly effective way to manage your relationships and business
operations.

To grow your business, you must take a strategic approach to management

accounting, improving your workforce and creating successful marketing
campaigns. In order to grow, you not only need to manage well but also take a
proactive approach and maintain a constant focus on your business's future.

Online project management systems track and manage the lifespan of a project,
offering functionality for everything from planning to defining a budget to
assigning individual tasks to team members. By giving each member an
up-to-date view of the progress, teams can coordinate and collaborate better to
see a project through to completion.
There are dozens of such systems. Some are free and others are
subscription-based.

21
According to the reviews of major IT magazines, the top 10 are as follows:

GanttPro – Best for Beginners

Teamwork – Best for Client Work

Zoho Projects – Best for Small and Growing Teams

Celoxis – Best Value

LiquidPlanner – Best for Automated Scheduling

ProofHub – Best for Proofing

Redmine – Best for Open-Source Project Managemant

Smartsheet – Best for Automations

TeamGantt – Best for Easy Entry Into Gantt Charts

Wrike – Best for Managing Projects and Ingoing Work

22
These tools are particularly useful for saving time and improving productivity in
a business. Cover all the needs of the team and successfully complete every
process and challenge. Efficiently utilise the time of the members of the business
and improve the quality of the services offered.

23
6.MONITOR, ASSESS AND VALIDATE
6.1. How to monitor your own performance
It can be hard to critically assess yourself and your way of working, but
this handy list will help you to stay on track.

Personal development is a continuous process. Most employers have

processes in place to monitor performance and provide opportunities for training
and development, but each of us also needs to take personal responsibility for
reviewing and updating our own skills.

Our growing understanding of human psychology suggests that

self-evaluation is far more powerful than external evaluation. It’s important to
take a hard look at your performance before your boss does and assess yourself
from their point of view.

Here are a few important steps towards effectively monitoring your own
performance:

Decide on the metrics

This is your career, no-one else’s. Figure out how you want to measure
your development. Some of these measurements may be the goals, deadlines and
timelines set by your boss, but other metrics should relate to your personal aims
and objectives. Make your objectives SMART: specific, measurable, achievable,
realistic, and time-bound.

Self reflect
To monitor your performance against your objectives and metrics, reflect
on your performance regularly. At the end of each week, review your objectives
and metrics, then ask yourself: what went well? What didn't go well? What can
you do to improve?

Re-read your job description

Study it carefully and give yourself an honest appraisal against the
requirements listed. This is for your eyes only, so there’s no need to sugar-coat the
deficiencies: write down all of your achievements as well as your mistakes. If you
weren’t given a job description, or no longer have one available, write out your
own specifications for the minimum standards for performing your job.

24
Continually seek feedback
Ask your boss to play an active role in your development, so they have confidence
you’re learning the skills that will make you eligible for future promotions. Keep
copies of any documents that directly or indirectly give some indication of your
performance, so you can track your progress. Consider asking a trusted colleague
if they agree with your evaluations, or approach a senior figure within your
organisation who might be willing to act as a mentor.

Move forward
Develop a strategy to improve weaker areas and keep notes on what you have
done to improve. During your formal performance evaluation, you’ll be prepared
to show your manager what you have done. Remember to communicate your
personal development plans to your boss, mentor, or any other relevant
stake-holder in the business; touch base with them regularly, so that they can help
steer you in the right direction.

If you’d like to dig deeper into your performance, psychometric profiles such as
DISC or the Five-Factor Model can give you insights into your behaviour,
compatibility with others, team contribution and job-role “fit”.

How to monitor your staff performance

Say there are team members that are underperforming in your organisation, do
you watch them like a hawk throughout the day or put measures in place to
monitor their performance?

The second option is definitely a more effective way to turn your employees into
high-performing superstars.
Rather than waiting for an annual review or jotting endless notes down, here are
7 ways to monitor staff performance to get the best out of everyone…

1. Use a Monitoring Software

One of the most effective ways to monitor staff performance is to utilise software
designed to do just that. It allows you to track activities and analyse data
regarding the tasks staff complete during the day. Having this platform can not
only reveal who’s struggling and needs support but also detect backlogs and
improve team-wide productivity.

To motivate your team, emphasise the use of a leaderboard featured in many

monitoring software tools. There’s no harm in adding a little healthy competition
between your staff.

2. Check-in Regularly

25
If you’re monitoring staff performance, it’s likely you’ve already taken steps to
manage poor performances constructively with the relevant employee. From
time to time, check-in at an unscheduled time so you can assess their
productivity. If you give them a set time beforehand, you won’t get the full picture
on how they’re performing.

It’s also a good way for them to realise you care and are there for support.

3. Set Targets

To monitor performance and productivity, sit with each team member and either
set individual, departmental or team-wide goals. These targets not only show you
how productive everyone is depending on if they reach the goals, but it’s also an
easy way to motivate everyone.

The more targets you set based on performances, the more motivated your staff
members will be to do better than last time.

4. Implement Self-Monitoring Tools

Sometimes, the way to increase motivation and see if staff members really want
to excel is to let them monitor themselves and their performances.

By implementing checklists, activity logs and creating schedules, it helps them

build the initiative to do well. Not only that, but it also increases engagement and
a personal drive to succeed.

In the long run, this helps them pick up new skills as well, such as time
management, problem-solving, accountability and more.

5. Ask Around a Little

You don’t need to gather intelligence regarding every step your staff members
take throughout their day. Ask your colleagues and other managers about their
interactions with specific employees and keep it related to their work
performances. It’s not a case of asking for a performance evaluation, but a
description of how well they did in a task or project.

You obviously can’t monitor employees yourself all the time, so asking a handful
of people can help you get a better understanding.

26
 6. Analyse and Reward

If you notice your employees are performing much better, reward them and give
them recognition. This sends a clear message on how they’re valued and their
performances haven’t gone unnoticed.

If you make this a habit where it’s deserved, it can motivate employees to work to
a higher standard because they’re appreciated.

7. Involve Them

Shutting out employees and not getting them involved in monitoring their
performance won’t motivate them. If they’re underperforming, sit with them to
help find the root cause and then come up with solutions on how to turn
performances around. This could be coming up with goals together or organising
regular meetings to catch-up about recent performances.

Not only does this make you more approachable, it means employees are more
likely to be motivated with it's clear you want their performances to improve and
aren’t making big rash decisions.

Monitoring staff might be the easy part, but what can be difficult is
communicating with staff members on why they’re under the microscope in the
first place. Your approach is key and these conversations can equip you with the
skills you need for potentially difficult conversations in the future.

6.2. Business validation techniques

You’ve come up with an innovative business idea, raised initial funding, and
believe you have what it takes to be an entrepreneur. What’s next?

It’s time to validate your offering’s market potential.

WHAT IS THE MARKET VALIDATION?

Market validation is the process of determining if there’s a need for your

product in your target market. Validating your business idea can enable you to
reasonably predict whether people will buy your product or service, and whether
your business will be profitable.

It’s important to validate your idea early in the entrepreneurial process to ensure
you don’t waste time and resources creating a product that isn’t a good fit.
Securing market validation can also instil confidence among investors,
27
crowdfunders, and banks that are considering funding your startup.

By going through the process of validating your business idea, you can gain a
deeper understanding of how your product does or doesn’t meet your target
customers’ pain points. The insights you gain can help you create an offering that
not only addresses your market segment’s needs, but earns you your first paying
customers.

Here are five steps to determine the market validity of your venture.

1. Write Down Goals, Assumptions, and Hypotheses

Writing down the goals of your business is the first step in market validation. The
process of articulating your vision can illuminate any assumptions you have and
provide an end goal.

Ask yourself:

● What’s the value of my product?

● Who’s the target audience, and what assumptions have I made about them?
● What differentiates my product from existing ones?
● What hypotheses do I have about my product, pricing, and business model?
Answering these questions can help you communicate the value and
differentiating factors of your product, and illuminate assumptions and
hypotheses you’ve made that are yet to be tested and verified.

2. Assess Market Size and Share

Before moving forward with your venture, estimate the size of your target
market and the share of it you could potentially capture. By doing so, you can
gauge your business’s potential and justify its launch.

In the online course Entrepreneurship Essentials, Harvard Business School

Professor William Sahlman uses mattress retailer Casper to illustrate this idea. In
2014, Casper’s founders assessed the market size for their product by comparing
its differentiating factors against the larger market. For Casper, these
differentiating factors included its online business model, 100-day return
window, and the viscoelastic foam material used in its mattresses.

Based on statistics for the mattress market at the time—including units sold per
year, the percentage of the market owned by foam mattresses, and the number of
mattress retailers that were e-commerce brands—Casper’s founders narrowed
down which segments they should target, and determined they could own a few
percentage points of the total mattress market share.

28
Do this exercise for your target market. For products similar to yours, research
sales data, the number and share of current manufacturers, and what percentage
of the total market your segment holds. Determine where your product fits into
the market and assess how much of it your business could own.

3. Research Search Volume of Related Terms

Another way to gauge the market validity of your business idea is to research the
monthly search volume of terms related to your product or mission. When
consumers need a product or service, they often use a search engine to see what
the market has to offer.

You can use a host of resources to look up monthly search volumes, such as Moz.
In the case of Casper, a related search term might be “foam mattress.” According
to Moz, the term garners more than 11,500 monthly searches, indicating a
demand for the product.

If there’s not a lot of search volume surrounding your product, use terms that
express customer intent. For instance, if you design a mattress made from a new,
extra supportive material, you could look up how many people search for “best
mattress for lower back pain sufferers.” Moz data indicates that the query yields
240 monthly searches.

This type of search volume for a longer, specific query isn’t negligible. In fact, it
can be used to bolster your hypothesis that there’s a need for your product.

4. Conduct Customer Validation Interviews

Conducting interviews with your target market segment can be an effective way
to learn about your product’s potential. This initiative might include hiring a
market research company to conduct focus groups, sending out an online survey,
or simply requesting a conversation with someone.

Ask potential customers about their motivations, preferences, needs, and the
products they currently use. Circle back to the list you created in the first step of
the market validation process, and frame any assumptions or hypotheses you
made as questions to your interviewees. Be open to the feedback you receive and
record it for future use.

The feedback may reflect that your product doesn’t have strong market validity,
in which case, you can use it to improve your offering and repeat the market
validation process.

29
 5. Test Your Product or Service

Once you’ve determined there’s space for your product in the market, ensure
you’re putting the most useful, intuitive version of it into the world. You can
achieve this through alpha and beta testing.

Alpha testing is when internal employees test a product in a staged setting. The
purpose of alpha testing is to eliminate any bugs, issues, or idiosyncrasies in the
product before it’s available to outside users.
Beta testing is when a product is tested by a limited group of real, external users
who are specifically told to identify problems. In the case of a software or app,
beta testing might be open to the public with a notice letting users know the
version they’re testing is unfinished.

Testing your product with real users can prove invaluable when assessing market
validity. If there’s a need in the market, but your product is faulty, complex, or
difficult to use, customers may opt for a competitor’s offering. The feedback you
get from beta testers can help you better leverage and meet customer needs.

TURNING FEEDBACK INTO ACTION

In Entrepreneurship Essentials, entrepreneurship is described as a “process of

discovery.” To determine whether your product is a market fit, you must seek
feedback to validate the beliefs you hold about your product offering.

Entrepreneurship requires flexibility and hard work. If you put in the time to
outline your goals and assumptions, assess the market, interview potential
customers, and conduct tests, you can gather the information you need to build
the best version of your product.

30
7.SUPPORT YOUR VENTURE
Setting up a new business is not an easy task, it requires commitment, inner
strength, resilience, a well-structured business plan, a good mindset for
navigating the bureaucracy and, of course, a financial base.

Often entrepreneurs have all the personal and professional characteristics to

start a business, but not the necessary capital, so it is therefore important to
gather information about public bodies, the financial institutions and funding
opportunities that can support the business.

7.1 Strategies to turn PAs in your allies

At a time when it is crucial to focus on the dynamics of overcoming the crisis
(resulting from the global pandemic), it seems inevitable to strengthen the
commitment to promote entrepreneurship and innovation, also at the social
level.
Therefore, European countries are interested in promoting the investment in
more sustainable and inclusive growth and, in socially innovative initiatives that
include requalifying knowledge, and skills that add value to local populations,
both culturally and economically. The purpose is not only the achievement of
desirable financial returns but, above all, a positive social and environmental
impact, which effectively ensures the improvement of the living conditions of
communities.

From this perspective, public authorities, especially those that operate in

proximity, at a local level, can be strategic partners in supporting
entrepreneurship because they are in a favourable position to create
partnerships and promote synergies, networking with other entities operating in
their territory.
Through their own means, and with an extensive network of contacts, they can
strengthen the dialogue and the meeting of efforts between the public and
private sectors, the mobilisation of local actors with different competences and
areas of action, whether in the business, academic, cultural, sporting, or social
environment, calling on investor support offices, banking institutions, local
business or commercial associations, and other important stakeholders. Local
authorities are in a good position to ensure the local development of their
territory in general, mediating and mobilising resources.
More specifically, local authorities are highly interested in providing alternative
and creative answers, differentiating actions, adjusted to the main social areas in
need, whether it is young graduates, long-term unemployed, people in their age
31
groups where it is difficult to return to the labour market, people with levels of
disability and handicap, minorities, etc.

In this sense, it will be important when starting your own business to get in touch
with local authorities, such as the municipalities, and understand what may be
the ongoing training initiatives, programmes, projects, and the different planning
and support instruments available at their dimension, that better suit your needs.

7.2 EU funds to support you

First of all, it is imperative to understand which EU programmes are in force,

which, in general, provide support in different thematic areas, such as
Competitiveness and Internationalisation of enterprises, Social Inclusion and
Employment, Human Capital and Sustainability and Efficiency in the use of
resources.
Generally, the objective of this support focuses on the ability to promote
employment creation; to reinforce investment in education and training; to
stimulate the production of tradable goods and services; as well as enhancing the
integration of people at risk of poverty and fighting social exclusion.
In addition, there are operational programmes at regional level, which you
should consult in order to apply, and submit your business idea which will be
reviewed and validated in accordance with certain requirements.

Description Website for

Category
reference
EU programmes The EU has several Direct Link
different funding
programmes that you may
be able to apply for,
depending on the nature of
your business or project.
There are two different
types: direct funding and
indirect funding.
Programmes change every
7 years and are dedicated
to specific headings:
1. Single market,

32
 innovation, digital
2. Cohesion and Values
3. Natural resources
and environment
4. Migration and
border Management
5. Security and
defence
6. Neighbourood & the
World

Call for proposal Called also “grant” is a Direct Link (to apply to
public invitation by the Calls for proposal)
Contracting Authority,
addressed to clearly
identified categories of
applicants, to propose
operations within the
framework of a specific EU
programme.

The Commission makes

direct financial
contributions in the form of
grants, to support projects
or organisations which
further EU interests or help
implement an EU
programme or policy.

Tender Called also “public Direct Link (to apply to

procurement” is used by Tenders)
the Commission for the
purchase of services and
material necessary to the
working of the European
institutions. Those include
both intellectual and
non-intellectual services
(statistical or audit reports,
consultancy work,
interpretation,
maintenance of the
Commission buildings, etc.)
and material (office
stationary, IT equipment,

33
 building work, etc.).

7.3 Getting funds locally

There are numerous ways to fund your business.

Bootstrapping or self-funding means investing your own savings or getting your

family and friends to contribute to your business. It’s usually a first funding
option, but it’s suitable only if the initial investment you need is small.

In case of crowdfunding, an entrepreneur puts up a detailed description of his

business on a crowdfunding platform and customers pre-buy a product or give a
donation to the entrepreneur. Crowdfunding generates interest and helps in
marketing. Also, it helps to evaluate the demand from the target audience.
However, to start a crowdfunding campaign, you need to make sure that your
offer is competitive.

There are numerous crowdfunding platforms that are suitable for businesses.
Kickstarter (www.kickstarter.com) is a reward-based fundraiser platform, where
backers are offered incentives to support a project, including t-shirts, shoutouts,
or exclusive pre-order discounts. Kickstarter campaigns are an all-or-nothing
affair, which means you only get access to your funds if you meet your initial
fundraising goal.
Indiegogo (www.indiegogo.com) is a fundraiser platform, where you can choose a
fixed funding goal (all or nothing, like Kickstarter), or a flexible funding goal for
your campaign.
You can also find crowdfunding platforms that work nationally or locally.

Angel investments are made by angel investors - individuals with surplus cash
and an interest to invest in start-ups. They often work in groups to collectively
screen the proposals and can also offer mentoring or advice alongside capital.
Angel investors take up to 30% equity (shares of your business).

Venture Capital is a type of financing provided by professionally managed funds

who invest in companies with high growth potential. They usually invest in a
business against equity (shares) and provide expertise and mentorship to the
businesses they invest in. Before investing, venture capital funds evaluate
business sustainability and scalability and are suitable for businesses already
generating revenues. Venture capital funds often look to recover their investment
within a three- to five-year time window.

Business incubators provide new businesses with office space and shared
facilities, training and mentoring in the early stages of business. Usually they are
34
funded by the public sector or non-profits. In addition to free or low fee services,
often they also provide grants. In business accelerators, the incubation period is
very short and intense. Sponsors provide initial funding and expertise and take a
small equity stake (e.g. 6%). Participation in business incubators and accelerators
give an opportunity to make good connections with mentors, investors and other
fellow start-ups. However, it requires time commitment from the business
owners, e.g. for creating a business plan and preparing regular reports.

Often governments or municipalities provide small grants for starting a

business, which you don’t need to pay back. To apply for such a grant, usually
you have to prepare a business plan and comply with eligibility criteria. There
are special business grant programmes for unemployed, social businesses,
businesses in rural areas etc.

In business idea contests, you either have to build a product or prepare a

business plan and then compete to receive funding. Sometimes business idea
contests include training and consultations for authors of business ideas. But you
need to make your project stand out to win!

Finally, you can apply for a bank loan to start your business. In order to do that,
you have to prepare a business plan. Be ready, that often banks ask for a
collateral (a security against a loan). There are special programmes for start-ups
and SMEs, often funded by the government, but, similarly as with grant
programmes, you need to comply with eligibility criteria.

35
8.LEGISLATIVE REQUIREMENTS
To set up your own business in an EU country, you need to be aware of the
applicable rules and regulations, and the relevant national contact points to set
up a company in that specific country. It will also be necessary to understand the
country's legislation to understand what is required to open and legally maintain
the company, the necessary documentation, namely in relation to taxation and
compulsory taxes.

Although the requirements vary depending on the country, the EU encourages all
countries to meet certain targets for helping to set up new companies. Therefore,
the process should not take more than 3 working days, being all the procedures
submitted through a single administrative body, costing less than 100 euros, and
with the possibility of online submission and completion of all formalities.

ITALY
Indications about the requirements to start a business in any forms, from
individual enterprises to companies, are regulated by the Italian Civil Code,
book V namely “about work” from art. 2060 to 26424.

Social enterprises are treated differently. In fact, it is a juridical form specifically

regulated by Italian Legislation with the Legislative Decree n. 112/20175.
Based on art.1:
-Companies, associations, and foundations can be entitled to social
enterprises while cooperatives are automatically considered social enterprises.
-Individual enterprise cannot constitute a social enterprise.
-Social Enterprise performs on a permanent and predominant basis activity of
general interest on a non-profit basis and for civic, solidarity and social
utility purposes, adopting responsible and transparent management and
favouring the broadest possible involvement of workers, users and other subjects
interested in their activities.
Based on art.2, it can operate towards many activities such as social interventions
and services; health interventions and services; education; interventions and
services aimed at safeguarding and improving the conditions of the environment;

4
Please refer to Book V, Italian Civic Code available here:
https://www.brocardi.it/codice-civile/libro-quinto/
5
Please refer to the test of the Law n. 112/117 available here:
https://www.normattiva.it/uri-res/N2Ls?urn:nir:stato:decreto.legislativo:2017-07-03;112!vig=
36
protection and enhancement of the cultural heritage and landscape etc.
Based on art 5, It is constituted by a public agreement.

Italian regulation is extensive and articulated, thus it is suggested to be supported

in the process by experienced professionals in the field of commercial affairs.

LATVIA
When starting a small business in Latvia, people usually choose from two legal
forms - being a self-employed person or founding a company with limited
liability. Being a self-employed person is the easiest option in terms of
registration, accounting and reporting. If you decide to found a company, you will
most likely require help in legal issues and accounting.

Find out more here about self-employment in Latvia:

https://www.vid.gov.lv/lv/saimnieciskas-darbibas-veiceji

Find out more here about founding a company with limited liability in Latvia:
https://www.ur.gov.lv/lv/registre/uznemumu-vai-komersantu/sia/

GERMANY6
For anyone who wants to become an entrepreneur, Germany can be a great
location for starting a new business. This is attested to by the large number of
small and medium-sized enterprises (SMEs) that form the backbone of the
German economy. There are, however, a few administrative issues that need to
be taken care of before you can officially become your own boss.

In Germany there are three possible legal forms for founders. The GbR or OHG
are very easy to found, but you have unlimited liability. If you want to limit the
liability it is needed to found a GmbH which needs 25000 Euro of which you need
12500 for founding, Another possibility is the Limited which is called
Unternehmergesellschaft (UG) in Germany. The advantage is that you need narly
no capital, but the yearly fixed costs are higher.

Point of Single Contact (Einheitlicher Ansprechpartner)

The first port of call for any expat wishing to start a business in Germany should
be your local Point of Single Contact (Einheitlicher Ansprechpartner - EA). Since
2009, every federal state (Bundesland) in Germany has had an EA to assist

6
https://www.iamexpat.de/career/entrepreneur-germany/how-to-start-up-your-own-business
37
freelancers, start-ups and new businesses.

As well as offering general advice and guidance, the English-speaking staff at the
EA can personally advise you on how to start a business in Germany, including
helping you with forms and documents, and forwarding them on to the relevant
administrative bodies. The EA will be able to assist you with many of the
processes described below.

A growing number of private services can also offer you advice on company
formation in Germany.

Residence permit for self-employment in Germany

Before you can start a business in Germany, you must first ensure that you are
allowed to stay there long-term. Under EU law, citizens of the EU, EEA or
Switzerland are able to live and work freely in Germany, including undertaking
self-employed activity.

Nationals of other countries will need to apply for a residence permit for the
purpose of self-employment before they can start a business in Germany. In order
to qualify for this type of temporary residence permit, you will need to
demonstrate that your business serves a German economic interest and that you
have the funds to realise your idea. You will be expected to submit a business
plan outlining these points.

German definition of freelancers (Freiberufler) & tradespersons

(Gewerbetreibenden)

German law makes a distinction between a freelancer (Freiberufler) and a

tradesperson (Gewerbetreibende). Understanding this legal distinction is
important for anyone considering starting their own business, as freelancers are
not required to register their business with the trade office or pay trade tax. In
Germany, a freelancer is someone with specific qualifications who independently
sells their services. The definition is limited to certain types of professions. You
can see a list of freelance professions here. Anyone else is considered a
tradesperson. Generally, freelancers operate under their own name, rather than a
business name.

If you are unsure whether you qualify as a freelancer or a tradesperson, check

with your local tax office (Finanzamt), who will be able to advise you.

The following sections outline the process of registering yourself as self-employed

in a trade occupation (Gewerbe).

Selecting a legal form for your German business

Once you have taken these initial steps to ensure the viability of your business
38
venture in Germany, you need to choose a legal form for your business. Which
structure you choose depends on a number of factors, including:

-How many people are starting the business

-Who will lead the business

-How much equity you have

-Whether your personal liability should be limited

-Choosing the right structure is essential, as it will affect your business taxes and
your personal debt liability in future.

Entering the commercial register (Handelsregister)

Once you have decided which legal form is best suited to your new business, you
can enter your business in the German commercial register (Handelsregister).
Almost all businesses must do this in order to receive a commercial register
number (Handelsregisternummer), which you will need to register your business
at the local trade office and receive a business licence (Gewerbeschein - see
below).

Small businesses and the commercial register

The only exceptions to this are freelancers and small businesses

(Kleinunternehmen). Small businesses are defined as businesses with a revenue
of less than 22.000 euros in their first year of operation and a revenue of less than
50.000 euros in the following years.

If you are a small business owner or a freelancer you can voluntarily enter your
business in the commercial register, but note that this comes with additional
rights and obligations. For small businesses, it is not usually worth the extra cost.
A lawyer can advise you if you are unsure.

How to register in the Handelsregister

Larger businesses, especially OHGs, KGs, GmbHs, UGs and AGs must enter the
German commercial register. The application is electronically filed in a
publicly-certified form by a notary. The cost of registration varies according to
the company’s legal form, anywhere from 200 euros for a sole proprietorship to
500 euros for an AG.

To register your business, you will need:

-Valid ID, such as a passport or identity card (not a driving licence)

39
-Registration certificate (Meldebescheinigung)

-Visa or residence permit enabling you to carry out self-employed activity

-Handeslregisternummer (if applicable)

-Proof of your qualifications and any permits or licences, as required

-Registration fee (usually no more than 70 euros)

Once you have registered your business, information about your registration will
automatically be forwarded on to the tax office (Finanzamt), the local Employers’
Liability Insurance Association (Berufsgenossenschaft) and, depending on the
type of business you register, possibly the District Court (Amtsgericht) as well.

For more information about founding and support creating your business you
can go on this website: https://www.fuer-gruender.de/

PORTUGAL
When starting your own business, the way your company presents itself legally is
crucial, since the identity of the company will determine its legal regulation.
The choice of the legal form is mainly related to a greater or lesser simplicity, in
terms of the company's structure and its operation, share capital, and the
different responsibilities and obligations. These are the main factors to be taken
into account when making this decision.

Currently, in Portugal, the simplified administrative procedures for setting up a

business is undoubtedly a great improvement, since most of the interaction with
State bodies can be done through the internet, saving time and money.

There are several legal forms at your disposal, each with its own particularities,
and therefore you should choose the one that best suits you.

If the business is formed by a single person, you can choose one of the following
legal forms: sole proprietorship or sole proprietorship by quotas.
In the first case, a company that is led/founded only by an individual or natural
person, the entrepreneur has unlimited liability i.e. responds unlimitedly for
debts incurred in the course of its activity and before its creditors,, including
personal assets; there is no minimum capital requirement and the company must
be registered with the Social Security, deduct and pay VAT if applicable, and
Personal Income Tax (IRS).

In the other case, the company with only one partner, the liability is limited to the

40
amount of the share capital, which has to be at least €1, but it is recommended
that this amount is higher. It must be also registered in the Social Security, deduct
and pay VAT when applicable, and the Corporate income tax, and when starting
the activity it must have an organized accounting by a Certified Accountant.

If the business is formed by more than one person, the most usual legal forms are
Private limited companies or Public limited companies. Both should be registered
in the Social Security, deduct and pay VAT, when applicable, and Corporate
Income Tax (IRC). In the first option, there can be two or more partners, with a
minimum share capital of 1€, and with liability limited to the amount of share
capital invested. They must have organised accountancy and a registered public
accountant. In the case of public limited companies, there must be a minimum of
five partners, a minimum share capital of €50,000 distributed by shares, and
shareholders limit their liability to the value of the subscribed shares. The
company must have organised accounts, a registered accountant, a certified
public accountant, and a Fiscal Council.

As previously mentioned, everything can be done through the Internet, (Empresa

Online | Serviços do registo comercial - ePortugal.gov.pt - ePortugal.gov.pt or in
the entrepreneur’s office,
https://eportugal.gov.pt/inicio/espaco-empresa/balcao-do-empreendedor), or in
person.

In person you should go to a Citizen Office, where you can perform the whole
process in a single counter. If you prefer, you can do the process in any
Commercial Registry Office or in the headquarters of the National Registry of
Commercial Companies. at the headquarters of the National Registry of Legal
Persons (RNPC). Remember that you must be in possession of an identification
document, which can be a Citizen's Card, Identity Card, passport, or residence
permit, and have a valid Tax Identification Number. You can find all the
information here: Empresa na Hora | Justiça.gov.pt (justica.gov.pt).

Regarding the legal framework of the supports you can consult Portaria n.º
985/2009, of September 4, with the changes introduced by Portaria n.º 58/2011, of
January 28, Portaria n.º 95/2012, of April 4 and Portaria n.º 157/2015, of May 28
(creation of the Support Program for Entrepreneurship and the Creation of Own
Employment - CPE); Order No 7131/2011 of 11 May (definition of the procedure
applicable to the one-time payment of the total amount of unemployment
benefits); PAECPE Procedures Manual (applicable to projects submitted from 29
January 2011).

Although bureaucracy is a lot easier to master these days, creating one's own
business implies not only all the personal and professional characteristics to start
the business, but also, a well-structured business plan and a good financial basis.
In most cases, the entrepreneur does not have the necessary capital, and

41
therefore, finding a good form of financing is fundamental in order to materialize
a good idea, a viable project.

It is essential to know the support you can count on to achieve your goal and
become self-employed. You have to be prepared to defend your project, setting it
apart from others and establishing its viability with the entities from which you
will apply for funding, whether they are public entities, banks, private investors
or venture capital companies. To do so, it is essential to have a realistic estimate
of the initial capital needs for the business start-up, in order to understand how
best to raise that capital.

Currently in effect, Portugal 2020 is the result of a partnership between Portugal

and the European Commission, and brings together five Structural and
Investment Funds (European Regional Development Fund, Cohesion Fund,
European Social Fund, European Agricultural Fund for Rural Development and
European Maritime and Fisheries Fund). To access other information on support
for creating your own job, access the online platforms or go to a service desk of
IEFP, IAPMEI, I.P. - Agency for Competitiveness and Innovation or ANJE - National
Association of Young Entrepreneurs.

POLAND
Setting up and carrying out business in Poland as a foreigner is highly regulated.
Entrepreneurs from non-EU countries may only establish and operate a business
in the form of a limited liability company, joint-stock company or limited
partnership. Investors may also choose to purchase an existing company.
Entrepreneurs from EU countries are able to set up any type of company, the
same as Polish citizens. It is also possible to set up a branch or representative
office.
Before choosing which legal form of business to set up, entrepreneurs should
consider the scope of responsibilities, running costs, size of the business, etc.
Limited liability companies are the most popular type for foreigners.

1. Limited Liability Company

This is the most popular type of business set up by foreigners in Poland, and are
intended for larger business ventures. Shareholders are only liable to the amount
of share capital they hold.

To establish a company, share capital of PLN 50,000 is required.

In addition, it is necessary for the new company to obtain a REGON (statistical

number), NIP (tax identification number) and register for VAT payment.

42
 Steps Required:
● Partnership must be entered in the Polish Court Register
● Obtain Certificate of Approval,
● Post- Registration Procedures.

Time: 4 months

2. Joint Stock Company

This is a form of legal entity in Poland which carries a legal personality

with it, generally used for large corporations with more than one owner. The
process of incorporation largely mirrors that of registering a limited liability
company, with the key difference between the business types being that the joint
stock company is fully liable for its obligations to its assets in entirety, without
limitation.

3. Limited Partnership

Limited partnerships may acquire rights and incur obligations. It is a form

of commercial partnership and may be formed by at least two individuals – one
as a general partner, and the other as a general partner.

4. Purchase a shelf company

Foreign investors who wish to begin a company in Poland may elect to

purchase an existing company.

5. Foreign Branch

Branches do not have legal personality, but rather act as a standalone and
distinct part of the company operating in a different country. The parent
company bears full liability for the branches’ actions.

6. Wholly owned subsidiary

Subsidiaries mimic Polish limited liability companies and must observe the
same applicable rules and regulations. They are suitable for small and medium
sized companies, and they are independent from the parent company, whereas
the branch is not.

To get to know more about the legislative requirements you can watch the
video: https://www.youtube.com/watch?v=pAGVCCe53Ss

43
GREECE7
In order to start a business of any legal form in Greece, you need only have an
active Greek Tax Identification Number (TIN) and use your TAXIS system
credentials (username and password). The credentials are recognised as the
holder’s electronic signature. The procedure has been fully simplified and takes
place fully online in real time.

1. Which procedures and formalities are needed to start a business?

Founders are required to know their tax identification number (TIN) and the
credentials assigned to them. No other formality, document, certificate or
other information is required.

However, if you are European citizens, you will need to acquire a Greek TIN
remotely via teleconference (my AADE live) at the link
https://myaadelive.gov.gr/dsae2/govdesk/faces/pages/mainmenu/entrance.xht
ml?faces-redirect=true&hashKey=null and will have to fill out a relevant
digital form and book a telephone appointment with a representative of the
Independent Authority for Public Revenue (AADE). Once you have obtained a
TIN and received your credentials, you are ready to set up your business in
Greece.

2. What are the legal forms available?

The available legal forms of a business that a person can set up in Greece are:

1. a public limited company (PLC) under Law 4548/2018 (Government

Gazette, Series I, Issue 104);
2. a Limited Liability Company (LLC) under Law 3190/1955 (Government
Gazette, Series I, Issue 91);
3. a Private Company (PC) under Law 4072/2012 (Government Gazette, Series
I, Issue 86);
4. a General and Limited Partnership (ordinary or by shares) under Law
4072/2012 (Government Gazette, Series I, Issue 86);
5. a Civil-Law Cooperative under Law 1667/1986 (Government Gazette, Series
I, Issue 196);
6. a Civil-Law Association pursuing economic objects under Article 784 of the
Hellenic Civil Code and Article 270 of Law 4072/2012;
7
https://www.gov.gr/el/sdg/starting-running-and-closing-business/registering-changing-legal-form-of-or-
closing-business/general/how-to-start-business-in-greece;
https://www.gov.gr/en/sdg/starting-running-and-closing-business/registering-changing-legal-form-of-or-
closing-business/general/how-to-start-business-in-greece
44
 7. a European Economic Interest Grouping under Council Regulation (EEC) No
2137/1985 of 25 July 1985;
8. a European Company under Council Regulation (EC) No 2157/2001 of 8
October 2001,
9. a European Cooperative Society under Council Regulation (EC) No
1435/2003;
10.a Joint Venture under Article 293 of Law 4072/2012

on the Statute for a European company (SE) (L 294) with its registered office
in Greece.

3. Which online procedures for setting up a company, including the

specific procedures put in place to comply with Directive 2017/1132
(particularly Article 13, as amended by Directive 2019/1151), are
available?

The legal forms referred to in question II are set up fully online using the
digital platform https://eyms.businessportal.gr/auth where the founders
(natural or legal persons) are authenticated using the credentials referred to
in question I. The founders only fill in their details and use their electronic
signatures (credentials) to sign the relevant articles of association or statutes
of the company. The articles of association or statutes are dynamically
created by the data entered by the founders on the electronic platform. The
system delivers digital articles of association or statutes and creates the
initial registration act (incorporation of a company) in the General
Commercial Register (GEMI), as the Business Register is called in Greece. In
addition to being registered in the GEMI – and receiving a GEMI number –
the newly created company is also automatically registered with the tax
authorities and receives a tax identification number (this authority being the
AADE in Greece), and with the social security institution (e-EFKA) and
receives an Employer Register Number. The company is ready to begin
operating in Greece without any further formalities.

4. What are the different procedures for expanding a business (e.g.

establishing a branch of a subsidiary)?

This procedure has not been included in the electronic platform for digital
commencement of a business. For this reason, legitimation documents must
be submitted by an authorised representative to the competent department
of the General Commercial Register. EU companies require (a) company
articles of association or statutes; (b) a certificate of good standing; (c) a
decision by the company to open a branch in Greece; and (d) designation of
an authorised representative for the activities of the branch in Greece. All the
above documents must be lawfully certified and bear an apostille. A full list
45
 of the departments interested persons can contact is available at the
following link: https://eyms.businessportal.gr/eyms-helpdesk.pdf

5. Are there other requirements for licences, declarations, notifications,

applications for registration in a register, list or database or
registration in a professional body or association?

There are no requirements after the company has been incorporated. All
notifications are made at the time of incorporation through a system
providing interoperability between the competent bodies.

6. Which authorities are responsible for registering a company?

The electronic company registration platform belongs to the Ministry of

Development and Investments, and the competent department is the
Directorate for Companies (email: companylaw@mindev.gov.gr). Depending
on where each company chooses to have its registered offices, it will be
electronically assigned to a competent GEMI Department.

7. Is it possible to submit the application in person, by email or online?

If a digital platform is not selected, the company incorporation application

may be made in person either at a GEMI department
(https://eyms.businessportal.gr/eyms-helpdesk.pdf) or at an authorised
notary public (https://enotariat.gr/simvolaiografoi.php).

8. Which supporting documents are required to start the procedure

when it does not take place online?

● For founders who are natural persons:

Aa. For Greek nationals, an identity card.

Ab. For citizens of an EU Member State, a valid identity card or passport.

Ac. For third-country citizens:

Ac1. For founders of a private company and founders who are limited
partners in a partnership:

Ac1.1 A valid passport or other travel document recognised under

international conventions with an entry visa, where required;

Ac1.2. A solemn declaration under Article 8 of Law 1599/1986 (Government

46
 Gazette, Series I, Issue 75) (ANNEX I hereto) concerning their intention to
reside permanently in Greece; and Ac1.3. If they reside or wish to reside
permanently in Greece, a residence permit or attestation of submission of an
application for a residence permit.

Ac2. For founders who are general partners in a partnership:

Ac2.1 A valid passport or other travel document recognised under

international conventions with an entry visa, where required; and

Ac2.2 A residence permit or attestation of submission of an application for a

residence permit.

The aforesaid residence permit, whether issued or applied for, must permit
exercise of an independent economic/business or investment activity, in
accordance with the legislation in force at any time, and may either be
presented as a copy or be electronically searched by the one-stop shop (OSS)
if the IT system so permits.

● For founders who are legal persons in Greece:

Ba. An exact copy of the codified articles of association or statutes of the

founding legal person. When it is registered in the GEMI, the copy shall be
automatically searched for by the OSS in electronic form, in accordance with
Article 8(2) and (3) of Law 3419/2005, free of charge and directly from the
GEMI database.

Bb. a decision by the body competent in each case or the partners concerning
participation of the legal person in the company being incorporated, and
designation of a representative to complete the incorporation procedure.

Bc. If the representative of the legal person for the incorporation of the
company is a person other than the lawful representative and the company is
to be incorporated by means of a notarial instrumental, a special notarial
power of attorney is required. If the company is being incorporated by
means of a private document, an authorisation will suffice, in which the
authenticity of the signature of the lawful representative of the company has
been attested in accordance with Article 11(1) of Law 2690/1999, where this
possibility is provided for in the articles of association or statutes or is the
result of a decision made by the partners’ meeting.

C. For founders who are legal persons with registered offices abroad:

Ca. A copy of the articles of association or statutes of the legal person.

Cb. An attestation issued within the last 3 months by the competent National
Register in which the legal person has been registered, indicating at least its
47
 registration number and that it is not in a state of liquidation, bankruptcy or
any other collective procedure for the satisfaction of its creditors.

Cc. A certified copy of the power of attorney for the appointment of a lawful
representative or proxy of the legal person in Greece. All the above must be
produced in accordance with international law (apostille seal, consular visa,
visa from the Greek consulate or in accordance with international treaties
ratified by Greece, as applicable) together with an official translation.

9. What are the deadlines for submitting supporting documents?

There are no deadlines.

10.How long does the procedure last?

When being carried out online, incorporation takes only a few minutes.
However, when carried out by a notary public or a GEMI department,
incorporation will take 30 to 60 minutes, depending on the legal form and
number of founders.

11.Are there any charges?

There are charges involved in incorporating a company. The cost of

incorporation varies significantly depending on whether it is carried out
online or at a GEMI department or a notary public. The cost of incorporation
via the digital platform ranges between EUR 18 and 24, while at GEMI
departments it ranges between EUR 60 and 80.

48
9.PRACTICAL SUPPORT
There are many options to start up your business. The support can come from
Public Bodies (i.e. Local and/or Regional governments) and Private entities (i.e.
Foundations, Nonprofit sector, Investors, and business angels). The following
table overviews the main ways to kick off a business in our countries.

ITALY

Name and Requirements Website for

Category description reference

National Active Yes I Start Up is a free 1. Italian https://garanziagiov

labour self-employment citizenship ani.anpal.gov.it/-/yes
market policies training course that 2. NEETs -i-startup
(Garanzia gives you the skills 3. 18-29 years old
Giovani) you need to turn a
business idea into
reality

National Active SELFIEmployment 1. Italian citizenship https://garanziagiov

labour finances the creation 2. NEET ani.anpal.gov.it/-/sel
market policies and start-up of 3 18-29 years old fiemployment
(Garanzia entrepreneurial
Giovani) activities, with
investment plans
between € 5,000 and €
50,000 (interest-free).

Regional Active The accompaniment 1.Italian Citizenship Region of Lazio:

labour service for or a person with a -https://www.region
market policies self-entrepreneurship regular residence e.lazio.it/documenti/
(Ricollocazione in the Region of Lazio permit 75592
Generazioni) is divided into an 2. Being resident in
individual pathway the Region of Lazio
(assessment of 3. Over 30 -List of Regional
entrepreneurial idea 4.State of Active policies in
to a business plan) unemployment, Italy:

49
 and a group part for including https://www.adecco.
business employees receiving it/politiche-attive-de
management. Around up to € 8,145.00 or € l-lavoro/progetti-reg
60 hs of specialistic 4,800.00 in the case ionali-finanziati-dai-
orienteering and of self-employment por
training. income (select the Region
and active calls)
Please note that each
Region defines
autonomously the
active policies to
implement and not
every Region has one
dedicated to over 30.

Invitalia Invitalia is the Variable- based on https://www.invitali

National Agency for the specific a.it/cosa-facciamo/cr
Development, owned incentive eiamo-nuove-aziend
by the Ministry of the e (section
Economy. incentives)
It manages all
national incentives For being
that favour the supported, contact
creation of new an employment
enterprises and centre in Italy:
innovative start-ups. https://www.anpal.g
ov.it/cerca-sportello

Business Angels They usually invest Based on Business -List of main

platform and offer mentoring angels’ interests Business Angels
services and platforms in Italy
collaboration https://www.spazios
opportunities. pin.it/blog/business-
angel/

There are many types Variable- based on -List of

Crowdfunding of crowdfunding: the different types crowdfunding
platforms equity, lending, of crowdfunding platforms in Italy
donation and model used https://www.econo
reward-based. myup.it/startup/cro
wdfunding-tutte-le-
piattaforme-attive-i
n-italia-e-come-usar
le/

50
LATVIA
Name and Requirements Website for
Category description reference

National level Magnetic Latvia Pre-incubation - https://inkubatori.m

Business Incubators individuals both agneticlatvia.lv/
provide without registered
pre-incubation and companies as well
incubation services, as with registered
including businesses
consultations,
co-financing, Incubation -
coworking companies from
opportunities and incubator-supporte
community building d industries, that
for people starting have not been
businesses. active for more
than three years

National level Latvian Development Self-employed https://www.altum.l

Financial Institution persons v/pakalpojumi/bizne
(ALTUM) offers loans sam/aizdevums-jau
for new companies Companies that are najiem-uznemumie
and startups not older than 5 m-un-biznesa-uzsac
years ejiem/

National level Rural Support Depending on the https://www.lad.gov.

Service offers EU call lv/lv/atbalsta-veidi/p
fund support for rojekti-un-investicij
creating businesses as/atbalsta-pasakum
in rural areas i/

Local level Several Depends on the

municipalities offer municipality
grant programmes
for start-ups

Private business International social Depending on the https://newdoor.lv/l

incubators entrepreneurship incubator v
accelerator NewDoor
https://reachforchan
International social ge.org/en/
business incubator
Reach for Change

51
 Business Angels They usually invest Based on Business Latvian Business
and offer mentoring angels’ interests Angel Network:
services and https://latban.lv/lv
collaboration
opportunities.

Crowdfunding Projektu banka Individuals or https://projektubank

platforms provides an private companies a.lv/
opportunity to collect
investments for the
project's start-up
capital.

PORTUGAL
Name and Requirements Website for
Category description reference

The General Programme to People registered at Empreendedorismo

Directorate of Support IEFP under one of - IEFP, I.P.
Employment Entrepreneurship the following
and Labor and the Creation of conditions:
Relations Self-Employment 1.involuntarily
(PAECE) is a unemployed, for 9
programme of IEFP months or less;
(Institute for 2. unemployed for
Employment and more than 9
Vocational Training) months, regardless
under The Youth of the reason for
Investe – programme registration;
funded by the 3.first job seekers
European Social with ages between
Fund – brings 18 -35, inclusive,
together a set of and with secondary
support measures to education or
-Support for business qualification level 3;
start-ups; 4. people who have
-National Microcredit never worked as an
Programme employee or as a
(Microinvest and self-employed
Invest+), credit lines person;
for the creation of 5. self-employed

52
 small businesses and workers whose
self-employment, average monthly
granted by banking income, measured
institutions over the months in
(Microinvest, for which they were
investments up to active in the last
€20,000; Invest+, year, is lower than
financing of up to the minimum
€100,000, for monthly salary
investments over guaranteed;
€20,000 and up to
€200,000).
-Support to
self-employment
creation by
beneficiaries of
unemployment
benefits;

The General Investe Jovem 1. Unemployed, Investe Jovem –

Directorate of Programme, to registered in the DGERT
Employment promote the creation Employment and
and Labor of companies by Vocational Training
Relations young people, Institute (IEFP);
offering financial 2. aged between
support for 18-30 years, with a
investment; financial viable business idea
aid to support the and adequate
creation of the training for its
promoters' own jobs implementation;
and aso, technical 3. Presents an
support in the area of investment between
entrepreneurship to 2.5 and 100 x IAS
strengthen skills, to (value of the Social
structure and Support Index
consolidate the which, in 2021, is
project. 438.81 euros);
4.Technical and
financial viability;
5. Does not include,
in the investment to
be carried out, the
purchase of share
capital of an
existing enterprise.

53
 National level Empreende XXI, People who have an Empreende XXI
support measures economically and
(financial support, financially viable
vocational training, business idea,
consultancy and the registered at the
possibility of setting IEFP, in the
up incubators) for the following situations:
creation and 1.Young people
development of new looking for their
business projects; first job, aged
between 18-35 years
old, inclusive, who
have never worked
under an
open-ended
employment
contract;
2. Young
unemployed people,
aged between 18- 35
years old, inclusive,
including those who
are not studying or
attending training;
3. Other registered
unemployed people,
including those who
meet the conditions
to be recipients of
the Support for the
Return of Emigrants
to Portugal
measure, regulated
by Ministerial Order
214/2019, of 5 Jul. as
amended, except
with regard to the
conclusion of an
employment
contract, and
respective
household
members;
5. Former trainees
of the Arts and
Crafts Training Axis,
under Decree-Law

54
 122/2015, of 30 Jan.,
who, at the end of
the on-the-job
training, have been
successful;

National and Portugal 2020: People with a Tem uma Ideia -

Regional Level “Tem uma ideia?” - project idea capable PT2020
Support provided of creating their (portugal2020.pt)
for innovation, own employment or
qualification and new companies that
internationalizatio have not yet started
n, and research activity at the date
and technological of submission of the
development, funding application;
financed by the
European
Structural and
Investment Funds.

National Level Startup Visa, For startups and Startup Visa -

Provided through international Startup Portugal
IAPMEI, it is a entrepreneurs;
residence visa to
attract investment,
talent and capacity
for innovation;

National Level Loja do Current or Loja do

Empreendedor, potential Empreendedor -
from ANJE (National entrepreneurs Anje :: Associação
Association of Young Nacional de Jovens
Entrepreneurs), that Empresários
monitors the
creation and
development of
micro and small
enterprises, training
and also to the
promotion of
entrepreneurial
initiative,
supporting
non-governmental
organizations and
universities;

55
 National Level IAPMEI, (Institute of Current or IAPMEI -
Support to Small and potential Empreendedorismo
Medium Enterprises entrepreneurs;
and Innovation), Small and medium
provides different enterprises;
solutions for
entrepreneurs, such
as business Support
and Training;
Incentives and
Financing;
Entrepreneurship
and Innovation;
Industry and
Sustainability;
Revitalisation and
Transmission; or
even qualification
and Certification.

National Level RNI (The National Current or Rede Nacional de

Network of potential Incubadoras e
Incubators and entrepreneurs; Aceleradoras -
Accelerators), aiming Portugal Digital
to identify, map and
interconnect existing
incubators and
accelerators in the
country, created by
initiative of
universities, scientific
and technological
poles, municipalities,
private companies or
foreign entities.
There are various
typologies of
entrepreneurial
support initiatives,
that can be
short-duration
programmes (usually
from two days to one
week), offering more
strategic support and
including
competitions,

56
 bootcamps, events,
seminars and
workshops. Also,
public incentives to
support startups, as
well as policy
measures to foster
entrepreneurship.

National Level COOPJOVEM, Young people in https://www.cases.pt

managed by the developing a /programas/coopjov
António Sérgio business idea, in em/
Cooperative for the accordance with
Social Economy, is a the following
support programme requirements:
for cooperative 1. NEET Young
entrepreneurship; person status (not
working, not
studying or not in
training);
2. 18 to 29 years
old (inclusive)
3. Residence:
Mainland Portugal
4. Minimum school
qualifications:
qualification level
II (9th year of
schooling or
equivalent
training);

Private Social IES-Social Business People that want to IES - Social Business
School School, focused on develop an Impact School | IES-SBS
Social Innovation, initiative;
with 2 programmes,
one Intensive 3-day;
An online Managers and
2-and-a-half month entrepreneurs;
executive training
programme;

Private business International social current or Página inicial |

incubators entrepreneurship potential social Ashoka | Everyone
Ashoka Portugal entrepreneurs; a Changemaker

57
 the SEA (Social Agência – SEA –
Entrepreneurs Micro-entrepreneur Agência de
Agency) s; Empreendedores
People from more Sociais
economically and (seagency.org)
socially vulnerable
groups;

Business Angels Invest and offer Based on Business www.invictaangels.

mentoring services angels’ interests pt
and collaboration
opportunities;

Crowdfunding PPL Crowdfunding Individuals or https://ppl.pt/

platforms Portugal, a private companies
collaborative funding
platform of
reference, focused on
social, creative and
entrepreneurial
projects;

National Level Portugal Inovação Projects that https://inovacaosoci

Social, Public propose alternative al.portugal2020.pt/
initiative to promote and innovative
social innovation and approaches to
boost the social respond to social
investment market problems;
by mobilizing around To submit an
€150,000 from the application, it is
European Social mandatory to
Fund, (Portugal 2020 register in the
Partnership Balcão 2020 and fill
Agreement) through in the electronic
4 funding form corresponding
instruments, geared to the
towards the different Announcement of
stages of the project the Call for
life cycle; Applications to
which you want to
apply.

58
GERMANY
Name and Requirements Website for
Category description reference

National level Model for a Business none https://www.existen

plan in German zgruender.de/DE/Gr
Language uendung-vorbereite
n/Businessplan/inha
lt.html

National level Financing for willingness to start https://www.existen

entrepreneurs a business zgruender.de/DE/Gr
uendung-vorbereite
n/Finanzierung/Foer
derprogramme/inha
lt.html

National level Gründungszuschuss Founding out of https://www.existen

unemployment zgruender.de/DE/Gr
The founders first uendung-vorbereite
receive a monthly n/Entscheidung/Ihre
allowance of six -Startposition/Gruen
months of the dung-aus-Arbeitslosi
amount of their most gkeit/Gruendungszu
recently received schuss/inhalt.html
unemployment
benefit. For social
security purposes, an
additional amount of
EUR 300 per month
will be paid during
this period, which
allows you to
voluntarily secure
yourselves in the
statutory social
insurance.

The start-up grant

may be paid for a
further nine months
amounting to EUR

59
 300 per month if the
beneficiary
demonstrates its
business through
appropriate
documentation.

National level Einstiegsgeld Founding out of https://www.existen

unemployment zgruender.de/DE/Gr
uendung-vorbereite
The funding will take n/Entscheidung/Ihre
the form of a grant -Startposition/Gruen
for a maximum of 24 dung-aus-Arbeitslosi
months. gkeit/Einstiegsgeld/i
nhalt.html
The amount of
support depends on
the duration of the
unemployment and
the size of the
jobseeker
community.

In addition to the
starting fee, loans
and subsidies for the
procurement of
goods to the
self-employed can be
granted. Grants are
possible up to an
amount of 5,000 EUR,
loans also beyond. In
addition, suitable
third parties may be
assisted by providing
advice or imparting
knowledge and skills
if this is necessary for
the further pursuit of
self-employment.

60
POLAND

Name and Requirements Website for

Category description reference

National help Poland.Business If you have your https://www.gov.pl/

from Harbour - We created own company, a web/poland-busines
Government the Poland.Business technical sharbour-en/find-su
Harbour Programme background or pport
for those considering experience in the IT
leaving Belarus for sector and see
Poland. yourself relocating
to Poland, this
programme is for
you.

National support Support is aimed at - students in their https://www.bgk.pl/

for start-ups school and university final year of first- programy-i-fundusz
graduates and final and second-cycle e/programy/progra
year students looking studies, master's m-pierwszy-biznes-
for work, registered degrees, wsparcie-w-starcie/
unemployed people, - school and
and carers of university
disabled people graduates looking
looking for work. for a job, up to 4
Entrepreneurs, years after
non-public graduation or
kindergartens and obtaining a
schools and vocational degree,
agricultural - unemployed
producers can also persons registered
benefit from support. at an office, until
Crèches, children's reaching retirement
clubs and providers age,
of rehabilitation - carers of disabled
services can apply for persons - family
financial support for members caring for
the creation of a new a child with a
job related to the care disability certificate
of children with or a disabled
disabilities or the person, not
rehabilitation of receiving a nursing
children with benefit or a care
disabilities. allowance.

61
 Employment Help in getting job none https://psz.praca.gov
offices and explanation of all .pl/wybor-urzedu
rules connected to
work law

International European Funds - Do Variable- based on https://www.fundus

funds you want to improve the specific zeeuropejskie.gov.pl
your qualifications, incentive /strony/o-funduszac
find a job or maybe h/sprawdz-oferte-dl
set up your own a-osob-mlodych/
business? The
European Funds will
help you realise your
plans. As well as
financial help, the
Funds offer support
in the form of
training, internships
or consultancy. There
are many
possibilities. Find out
how you can benefit
from them..

National support Polish Agency for Various https://en.parp.gov.p

Enterprise l
Development - The
Polish Agency for
Enterprise
Development (PARP)
is involved in the
implementation of
national and
international
programmes
financed from the EU
structural funds,
state budget and
multiannual
programmes of the
European
Commission. As a key
authority responsible
for creating a
business-friendly
environment in
Poland, PARP

62
 contributes to the
creation and effective
implementation of
the state policy
related to enterprise,
innovation and staff
adaptability.
Pursuant to the
principle “Think
Small First”, in all its
activities the Agency
puts a particular
emphasis on the
needs of the SME
sector.

Agriculture The Agency for Variable- based on https://www.gov.pl/

support Restructuring the needs web/arimr-en
and Modernisation of
Agriculture (ARMA) -
The Agency, as the
performer of
agricultural policy,
cooperates with its
supervising body -
the Ministry of
Agriculture and Rural
Development. At the
same time, as a
spender of public
funds, ARMA falls
under the
supervision of the
Ministry of Finance.

The scope of ARMA’s

operation involves
both the
implementation of
instruments
co-financed from the
European Union’s
budget as well as
providing of aid from
national funds.

63
 National support Financing from the Variable https://pfr.pl/en/
Polish Development
Fund (PFR) - PFR
offer includes
packages of financial
and non-financial
services for young
and developed
companies.

GREECE
Category Name and Requirements Website for
description reference

National level Entrepreneurship willingness to start a https://www.ependys

of Micro and Small business eis.gr/anaptyxiakos/
Enterprise nomothesia.htm

National level Entrepreneurship willingness to start a https://www.espa.gr/

Fund II (EBF II) business el/Pages/Proclamatio
business financing nsFS.aspx?item=435
0

National level Grant Programme for 18-29 ΥΟ https://www.dypa.go

Entrepreneurial v.gr/proghramma-ep
Employment ikhorighisis-epikheir
Initiatives for Young imatikwn-protovoyli
Self-Employed wn-apaskholisis-neo
Professionals aged 18 n-eleutheron-epaghg
to 29 with an helmatiwn-hlikias-18
Emphasis on Women. -eos-29-etwn-me-emf
asi-stis-ginaikes

64
National level New Youth Founding out of https://www.dypa.go
Entrepreneurship unemployment v.gr/proghramma-ep
Pilot ikhorighisis-epikheir
Programme for the imatikwn-protovoyli
unemployed, with a wn-apaskholisis-neo
focus on women n-eleutheron-epaghg
helmatiwn-hlikias-18
-eos-29-etwn-me-emf
asi-stis-ginaikes

65
10.CONCLUDING REMARKS
Did you read the guide to the end? Then we hope you are ready for a successful
start!

Indeed, entrepreneurship is a learning process and a journey of discovery. You

don't need to know everything to take the first small step, and when starting your
own business, the best way to learn is by doing - as Simone Sinek once said
“Dream big. Start small. But most of all, start”.

Therefore, never stop learning and developing your knowledge and remember,
everyone will have a different ideal timeline for starting a new business, yet if
you have enough time to devote your attention to the launch then don’t be afraid
to take the first step and enjoy the process!

Credits: Hurca, (2022).

66