How to set up your business

2022-07-15

How to set up your business? The 3 key steps not to neglect.

In 2020, the number of start-ups reached a new record in France, with over 848,000 new companies, despite the health crisis caused by Covid-19.

When you make the important decision to become an entrepreneur, there are many aspects that contribute to the success of your creation. In this article, we will focus on the steps to follow in your neobank relationship and the various options available.

1/ The idea of the business and its financing

First of all, it is important to think carefully about why and for what purpose you want to start a business. What is the concept/main activity? Once your project has been framed and clarified, you need to focus on the business plan and its financing.

It is easier to have an idea than to have funds to put it into practice, especially through traditional banking systems. A bank loan is not granted to all applicants, as certain specific criteria must be met in order to be eligible.

Here are the three main forms of financing:

  • Bank loan: one of the most common means of accessing funds is a loan taken from a bank. Their regulations vary at national level, but in any case, you will have to prepare a complex dossier presenting the project and proving that it has a good chance of working. Although difficult to obtain in the long run, it is a reliable source of funding.
  • Personal financing: people who wants to create their own business, will be able to invest their personal finances to support it. These future entrepreneurs, with the help of family members and by themselves, will be able to self-finance the start of their business and thus improve their record at their bank. It is indeed easier to get a bank loan if you show your bank that you already have basic capital (we usually only lend to those who have money). It is really easier to get a bank loan if you show the bank that you already have start-up capital (usually we only lend to those who have money).
  • Crowdfunding: crowdfunding is a relatively recent principle, which consists in publishing the financing of a project. Therefore, anyone has the opportunity, through donations or advance payments, to contribute to the financing of a company or a project of interest. The best-known examples are Ulule or Kickstarter, which have already enabled many projects to see the light of day.

2/ Capital deposit

You have passed the first stages of starting a business: you have a good project idea and funds for financing. What are the next steps?

In order to formalize the establishment, it is essential to fulfill certain legal obligations, such as drafting the articles of incorporation, registration at the registry, publication in the Official Journal and opening a professional bank account with a capital deposit.

Olkypay offers the capital deposit service. In a few minutes, Olkypay allows you to:

  • Open a professional Olky Pro bank account.
  • Instantly receive the IBAN for your company under incorporation thanks to our IBAN Express service.
  • Subsequently, to deposit the capital through the means of your choice: transfer or bank card.
  • Then obtain the capital deposit certificate within 48 working hours of receipt of the funds and the draft articles of incorporation.

As you will understand, we support you during all the important stages allowing you to concretely launch your activity. By following these steps, you will have a professional account, which can be used for all your professional operations. In addition to simplifying the process, we are committed to providing relevant services adapted to the different professional situations of our clients. Thus, we offer complete services for the collection of your customers, the delegation of the management of your accounts, the automation of the collection of your receivables, the signing of the contracts by electronic signatures, the allocation of a business bank card, etc. The aim is to cover as much as possible the different needs of traders, depending on their activity. Relevant services for a restaurant owner may be less relevant for a taxi driver, hence the need to offer flexible and customized solutions.

Our goal, by offering a multitude of solutions is to make your daily life as an entrepreneur simpler, faster and more flexible. We know that many people are reluctant to become entrepreneurs, particularly of the many steps that need to be taken in dealing with traditional banks. Olkypay is convinced that starting a business and carrying out a project should be favored and not slowed down.

Therefore, all our procedures aim to simplify the creation of your business. Our IBAN Express service mentioned above is one of the fastest ways to obtain a professional IBAN (receipt upon validation of the registration form). These deadlines are much shorter than those of traditional banks, which in some cases can be extended up to three days.

Creating a business in 2021 remains a challenge, but there are more and more options to support future entrepreneurs in their adventure. At Olkypay, we are convinced that we cover future needs as much as possible and offer full support and services to promote the success of your project.

You can find out more about the capital deposit made through Olkypay here, as well as discover our blog and find all our advice to develop your business and answer all your legal questions.