Author: Pamela Swift

Categories
Starting Up

Business Set-up in Switzerland

Are you a business-oriented person and would like to have your own business established in Switzerland? This is possible and very easy to achieve, as long as you follow all the necessary steps and procedures before you do it; this is to avoid going against their laws.

Switzerland is a destination for many foreign investors. There are numerous favorable factors like low taxes, transparency that does not accord for corruption, and many more. If you have no idea how you can achieve that or have Swiss resident director services when you create a Switzerland business, this article will give you a better understanding.

How to start a company/business in Switzerland?

Switzerland allows every person interested in starting a business to do so without too many restrictions. That includes foreign investors, but they have to follow the constitution’s laws.

For foreign investors, they must first have a valid C permit from a third-party Country, a spouse to the C permit holder, or a spouse to a Swiss resident.

The following are necessary steps of the application process to start a business in Switzerland;

It would be best if you had a clear business plan that will pass the evaluation process. You should also have an existing relationship with other similar companies about what you want to put up.

Your application must also have a commercial registration entry and foundation charter. For a successful application, you are guaranteed a short-term permit for the third-party Country persons, also the L permit, or a resident permit also the B permit, which can last for up to a year and is subject to renewal.

Starting a Limited Liability Company (GMbH) (SARL)

If you are a local, the steps are simple before starting your business/company. The LLC is registered by a single owner, whereby they must have a minimum paid-up capital of CHF 20,000. According to the Switzerland constitution of article 718 Swiss Code of Obligation.

The company has the obligation of submitting each year’s financial statement to the Swiss authority. (Annual audit report required-waiver is possible for small companies)

The taxes may differ depending on the province in the business. They may be set up and maybe subjected to audit if the company has over 250 employees, assets exceeding CHF 2 million, and above CHF 40 million as the turnover. Similarly, for foreign investors, you must have the paid-up capital for registration, following the same procedures and steps, and have a local representative residing in Switzerland.

The unlimited number of shareholders allowed but at least one founder (individual or legal entity). The Shareholder’s liability is limited to the amount subscribed.

The Resident Director

The resident director of a Swiss company can be a Swiss or foreign national, but they must be resident in the country. The other directors of the company may come from elsewhere. The board appoints him to act as the shield of the shareholders and other directors. They should be very professional and must be at least 18 years old. They must also meet the legal law set before assuming any fiduciary role entrusted to them.

Duties of the Swiss resident director

The resident director’s role does not mandate to control the company without the board of directors’ and shareholders’ consent. You only act as a representative of the company before third parties like banks or tax authorities.

They also play a role in managing the administrative functions, preparing the general meetings conducted annually, and taking reports and minutes of the attended meeting. He also takes care of the accounting and auditing, and he has the power to meet and negotiate with the business’s creditors. 

In dissolving a company, the resident director ensures all the proper procedures are followed before its dissolution and that every shareholder and board members’ interest were met. Sometimes the business objectives may have been achieved, and you wish to dissolve or expand in other areas. The resident director is primarily involved in the business’s daily activities and not its operational activity.

Switzerland has been a home for many potential business people, and they have always profited from their investment by the laws set to protect them. By now, you know where to start from and what is expected of you before having any business. A financial services company can provide entrepreneurs such services and accomplish the administrative formalities involved in setting up a new company and ensure you get a resident director to push your business to profitability.

Categories
Franchise

Perks of Running a Food Franchise

Consider these perks to see how buying into a food business can enhance your lifestyle as well as your bank balance.

There are lots of advantages to running a food franchise. Low investment costs, buying into an already established brand, being your own boss, and bringing in an extra income are just some of the significant benefits.

Flexibility and a sociable, stable career mean that investing in a food franchise is a holistic approach to earning a living.

When we think of “perks” we might think of things we’ll get for free. And that is true. But when we talk about the perks of investing in food franchises, certainly the best things in life are free, but they are also ones that will enrich your lifestyle and wellbeing.

Beyond being able to tuck into your tasty leftovers, here are just some of the perks to running your own food firm through a franchise.

Pick the trend that suits your tastes

There’s a street food surge underway just now as the Covid-19 pandemic changed the way in which we satisfy our hankering for food on the go.

Ready-to-eat foods are booming. Fast food is one of the world’s fastest-growing industries and will be worth an estimated $931.7 billion by 2027.

And it’s not just picking up a bowl of noodles on the lunch break. Catering trends have also changed enormously during periods of lockdown and social distancing.

Take for example that street food and food vending are predicted to be one of the trends for wedding catering. The big day is moving away from the traditional sitdown meal or buffet. In the post-pandemic world, guests are wary of sharing a bowl of veg or queuing for vol-au-vents that have previously been examined by numerous people. That means interactive food stations and late-night street food vans are ‘in’. Invest now in the foodie trends that are set to soar.

Starting out small is a big way forward

Franchising enables you to start out small. That way you can test out ideas and find out for yourself just what works for the areas in which you plan to operate and target for the future. It also means you can build towards your own dream rather than that of others. This brings increased satisfaction driven in your chosen direction.

As initial investments are low with franchising, that restaurant concept you have in mind, or the gap in the local market you have identified, means you can trial different cuisines and speciality dishes. This comes with a lower risk than other business models and you’ll always be backed by an established support team and brand.

Fit your franchise to your own wellbeing

Many of us simply don’t enjoy the work we do. Being able to do a job you love can sometimes seem an unattainable dream. When you are the boss, you can fit the daily demands of running a business around your own needs and that of your family.

Instead of corporate dictates, investing in a franchise brings flexibility that you can build into your life. Career satisfaction and emotional wellbeing are things that no corporate salary automatically brings.

When you own a franchise, you won’t always need to be present within the business itself. You can work remotely, work from home, or work on the go – just as it suits you. You can buy into a business that is close to home and ditch that long daily commute for good.

If you’re a motivated and talented individual, there’s every likelihood you don’t like being told what to do every minute of the day. By investing in a franchise you will have the freedom to express yourself.

Share the perks

As your business grows you will be employing staff and you can manage them in the way that you would always have wanted to be managed yourself. You can be creative and encourage creativity in others. That’s incredibly rewarding.

Engaged employees are satisfied employees. You can involve your staff in the company and tap into their own ideas for growth. Not only will that bring benefits to the business but it will foster innovation within the workforce and ensure employees feel a part of achieving your goals.

You can opt into an employee reward programme as you see fit and share the perks of working for you with everyone else. There are lots of third party staff engagement and reward schemes out there these days that offer everything from loyalty bonuses to discounts to tangible monetary benefits. That way you can build motivation and recognition into the ethos of your company.

If you’re operating a food business, then one of the great ways to spread the word is to offer staff discounts and widen this to their friends and family. That way, more people get to taste your great offerings and share their experiences with people they know by word of mouth and social media.

Choose the perks that suit you

Investing in, and operating, a franchise is of course hard work. But if you’re already considering buying into a food franchise you will already know that. In fact, it will be a motivation in itself.

Buying into a food franchise or a takeaway franchise allows you to invest yourself in exactly the catering market that means something to you. You will receive all the support, materials and resources you need. Allow that to be the core ingredient upon which you flourish and bring your own flair.

Categories
Operations

4 Technological Solutions for Streamlined Small Business Operations

It’s the goal of every business to conduct its operations efficiently, save time, money, and reduce the probability of making errors. Gone are the days when most aspects of a business were carried out manually due to the lack of technological devices.

Today, ask every successful business owner how they conduct business, and you can almost be sure they will mention technology somewhere. Here are some of the ways you can take advantage of technology to streamline operations and hit your business goals.

The Phone System

The office phone has been useful for decades, but is it time to ditch it? Well, if you find something that works better, ditching the old one is justifiable. Nowadays, you can use phone services that don’t have as many limitations as those with a desk phone.

With the need for working from home increasing each day, your employees can comfortably receive phone calls from customers or suppliers at the comfort of their homes, using their desktops or laptops. They can also make or receive phone calls from anywhere, as long as they have a computer with an internet connection.

A small business phone service can run in a web browser or as a downloadable app. These phones also have video and messaging features, which desk phones may not have.

Accounting Software

Using an accounting software can help you keep track of expenses and revenue more efficiently. It also makes the processing of taxes, invoices, trial balances, balance sheets, and other financial-related aspects easier and faster.

Additionally, this software ensures that your business financial data is stored securely and can’t be accessed by unauthorized personnel since you have the option of choosing who to give the password to the system. Most importantly, this software gives reliable and accurate reports, which are key in proper decision-making.

Inventory Control System

An inventory control system keeps track of the items in stock and makes updates whenever something new gets in or is sold out. This helps in maintaining an accurate system to prevent a business from running out of stock or buying excessive stock.

This system also provides crucial insights regarding sales, which you can use to forecast trends and make the right business decisions. Additionally, this system helps prevent cases of fraud since anything that gets into or out of the shelves is recorded.

Customer Relationship Management System

If you’re passionate about organization, you should have a customer relationship management system (CRM). CRM helps in tracking the experience of a customer in a company. This includes collecting their contacts the first time they engage with your business and recording any other interaction that happens afterward.

This helps in keeping track of customer behavior, trends, and patterns. Having this system also means you can create personalized messages for your customers during your marketing campaigns.

For your business to be successful, you have to run operations efficiently. This saves you time, money and provides accurate details. Whether it’s accounting, communication, customer experience, or inventory, technology will sync your operations, giving you a competitive advantage.

Categories
Branding

5 Ways That Charity Can Boost Your Business

There are two reasons to get your company involved in charitable activities: It’s good for the world and it’s good for business. 

A survey from just two years ago shows that 88 percent of consumers want their favoured companies to help them make a difference. 

Your business will receive several advantages in partnering with a charitable organization, including improving image, more productive employees, boosting your brand, building a network, and a healthier bottom line. 

Improved image

The internet is a busy place, and any kind of traffic, especially positive comments, will improve your SEO and visibility in the online marketplace. Also, clients and community members are more likely to remember your business positively and spread the news to others. 

Happier, More Productive Employees

Everyone wants to feel like their work makes a difference in the world. Getting your employees involved in the charitable process means that you’ll have a happier and more productive workforce that believes in your company’s mission and values.

Boost Your Branding

There’s no publicity quite like charity and philanthropy. Not only will donating money and/or time improve your standing in the local and business communities, but you’re likely to see new opportunities as a result. 

Network, Network, Network

When clients see that a business cares about the world as well as their bottom line, they want to patronize that company. You’ll end up not only with more clients as a result of charity, but potentially more loyal customers that will spend more money patronizing your business. 

More Money

For all you CEOs and CFOs out there wondering why you shouldn’t just spend that money on advertising, the bottom line is that donating to charity almost always brings in more profits than you lose. 

There are several ways of going about your charitable work. It doesn’t always have to be a giant check at a fundraiser. There are so many ways to get involved in charitable work, whether it’s asking employees to volunteer, or donating a portion of a certain product’s profits. 

How to Do It

Here are some other smart ideas from successful business-charity partnerships. 

Partner with Similar Organizations

There are major benefits to joining nonprofit organizations or businesses with parallel goals, as this CEO learned firsthand. 

Judd Schoenholtz, CEO of Open Listings, said this: “The mission of Open Listings is to make homeownership more affordable. Our service makes this possible by vastly reducing the real estate fees incurred when buying a home through a 50 percent commission refund. To date, we’ve saved California homebuyers nearly $5 million.

“As our company and team has grown, we’ve also begun to support local organizations working on affordability by donating resources and energy to groups that share our mission. One example is Abundant Housing LA, an organization “committed to advocating for more housing… lower rents and a more sustainable and prosperous region, where everyone has more choices of where to live and how to pursue their dreams.” 

Donate Skills

This is an easy and wonderful way to connect with your local community, get some good press, and maybe grow your business. 

Ask your managers and employees to donate some time to teaching skills. This could be at a high school or college, a free class at the library, or even an open house where you invite people to see your business and learn from your employees. 

You and your employees have valuable knowledge that they can share. Why not spend one day a month sharing it with others?

Let Givers See The Impact

Many charities now understand the importance not only of transparency but creating systems that allow donors to see exactly where their money is going and what it’s doing.

If you offer a way for clients and donors to see the impact of their generosity, they’re more likely to come back and to spread the word to others about your business’ good deeds. 

A great example of this is the Track Your Impact function at WE Charity, which founder Craig Kielburger said has been crucial for donor trust. 

From Craig Kielburger: “The beauty of Track Your Impact is that it shows you what your purchase will do. And with sharable content that customers can take to social media. Shoppers buy the product, make an impact, meet the community affected, and share the story, like pictures of clean-water projects or facts about drought and small-hold farmers. The social media halo amplifies the brand and invites other consumers to join. And when consumers opt-in to receive information about their impacts, at the bottom of the message they see additional products and services that deliver more impacts to change the world. All of this amplifies the cause, inspiring others to shop with impact.”

Categories
Branding

How to Brand Your Business

You’ve put in many hours of work and late nights filled with anxiety as you’ve built your business from the ground up. You know that your business is producing a service or product that is high-quality and in-demand, but how can you make sure that your business brand stands out and attracts consumers?

Identify Your Target Audience

No matter what kind of business you’ve built, you probably can’t expect everybody to be a potential customer. Finding out exactly who is most likely to interact with your company and why it’s absolutely essential in developing a successful business. 

Personality marketing is a superb way to understand your target audience and build a brand that will attract them. Personality marketing analyzes five essential personality traits of your potential target audience to help you learn what kind of brand they are most likely to respond to.

Be Honest

It can be tempting to try to make your business into whatever your customers might want it to be, but your target audience is likely to see through this attempt. You want to adapt your branding to your target audience, but don’t abandon who you are and what you want for your business. 

Being honest and transparent in your branding makes it more likely that your target audience will trust your business, even if they do not identify entirely with every aspect of your marketing.

Keep it Simple

One of the most common pitfalls that people fall into when branding their business is making it too complicated. You have many hours to think about exactly what you want your business to portray. However, you only have seconds to make an impression on your potential customers and encourage them to make the decision to do business with you. Be direct, straightforward, and stay on message with all of your branding efforts.

Be Unique

There are thousands of brands within any given industry. Even in a relatively narrow target demographic or zip code, you may be competing with dozens or even hundreds of other brands trying to do something similar to what you’re trying to do. 

If you want to get repeat business, you need to stand out. If your branding is too similar to another company’s branding, your customers may not remember which company they saw advertising for or had a good experience with last time. That means you may lose business to your competition.

Have Fun Branding Your Business

Branding your business can have some anxiety attached, but it should also be an exciting experience. The brand you build now will hopefully go on for many years to come and may even survive you. Take time to think your branding through and know who you’re marketing to, and you will likely have a great time building highly effective branding.