How to start a business in Azerbaijan

Azerbaijan is an upper middle income country located at the crossroads of Eastern Europe and Western Asia. With a population of 9,416 milion and a GNI (Gross National Income) of 7,350 USD per capita, Azerbaijan ranks 12 in World’s Bank ranking regarding the challenges one must face when starting a business (out of 189 economies).

12 is really good you might think, but if you take a look at the aggregate ranking on the ease of doing business, Azerbaijan occupies the 80th position for 2015. Now don’t get too discouraged! Let’s see the full half of the glass and focus on why Azerbaijan ranks 12:

• Where do you need to address to register your company?

To register your company you need to address the Ministry of Taxes a one-stop national, service for business and tax registrations. You can find them here: www.taxes.gov.az

• How many days are necessary to complete all the legal procedures?

You only need to wait 5 days before your company is up and running

• How many procedures are necessary to start a business?

3 procedures are required by law to start a business. Here they are:

1. Obtain electronic signature
Business registration in Azerbaijan is done online so before addressing the Ministry of Taxes you need to obtain an electronic signature from the Ministry of Communications and Information Technologies. To obtain the signature you need to wait 1 working day and pay around 30 AZN (about 38USD)

2. Register your company online, obtain TIN number and register for VAT
To register your business go to www.taxes.gov.az, which is the official site of Ministry of Taxes and follow the steps presented there. Usually you need to fill in a registration form and submit electronically the following documents:
         -Memorandum of Association and the Articles of Association;
         -Resolution of establishment
         -Your identity card;
         -A document confirming the legal address your company (if leased you need to take the document to a public notary to be notarized; this will cost 2 AZN).
In 2 working days after submitted all required documents you will receive by email the registration of incorporation. If you want, you can obtain a hard copy from the Tax Office but the online number you receive will suffice.

3. Obtain your company seal
To legally operate your business you need to have a stamp with your business name and registration number. You can obtain this by addressing any company that produces seals, no legal boundaries in this field. The cost of a stamp is between 4 AZN and 40 AZN depending on the model you choose.

So now that you saw why Azerbaijan is the 12th business start-up paradise in 2015, what’s stopping you from opening your next venture here?

Business success means "You can do anything, but not everything"

In today’s fast moving world time is everything and prioritizing it is paramount. As Davis Allen says “You can do anything, but not everything”. In business this quote has new meanings. Why is that, you might ask. Well, when running a business is like running a marathon. You’re in for the long run, so keeping up the pace is extremely important. One way to do that is by focusing on mapping out your goals within a time frame. If you want to do that efficiently here are four tips that might put your business on the right track:

Delegate. When running a business having the right people working for you is compulsory. Remember again what Davis Allen said “You can do anything, but not everything”. So, don’t be a control freak and don’t waste your valuable time on petty tasks. Hire someone to do that for you.

Watch the big picture. Never ever lose the ball from your eyesight. Set your mission statement clearly and stick to it no matter what. Be flexible and resilient without leaving your business to chance. The success of your operation is in your hands. Focus on long term business partnerships and always keep your clients happy and engaged

Create your own opportunities. Don’t be scared of the big competitors when you decide to launch a new product or service on the market. If you have it and it is of good quality, put it out and promote it right away. Someone will always be interested in purchasing it.

Network with the right people. Don’t waste time talking to the “wrong” people. Focus on those that could bring value to your business. Compile a list of possible partners and start networking with them. Find common interests and engage them into your business mission. You will soon see some gratifying results

How to start a business in Denmark

Denmark has a population of 5,613 million and a GNI (Gross National Income) per capita of 61,110 USD. Starting a new business venture here is relatively easy. In fact Denmark ranks 4^th in World’s Bank aggregate ranking on the ease of doing business (out of 189 economies). Here’s why:

• Where do you need to address to register your company?

To register your company you need to address the Danish Business Authority a one-stop national, service for business and tax registrations. You can find them here: www.webreg.dk

• How many days are necessary to complete all the legal procedures?

You only need to wait 5.5 days before your company is up and running

• How many procedures are necessary to start a business?

4 procedures are required to register your company. Here they are in detail:

1. Get a NemID signature

The NemID is a key card that allows you or your employees to conduct different actions online on behalf of the company in a safe environment. You can ask for up to 3 NemID’s free of charge. For additional ones you need to pay a fee.

2. Deposit the start-up capital

To deposit the company’s start-up capital you need to address a commercial bank. The minimum amount of money need for a start-up is DKK 50,000.00.

3. Register your company with the Danish Business Authority (DBA)

To register your company you need to go online to www.webreg.dk and fill in the registration form. After you have done so you are asked to electronically submit the Memorandum of Association and the Articles of Association of your company. For the entire process you have use your NemID. When the procedure is completed you will receive by email the company’s business identification number (CVR) and the conformation of its registration. Your company will automatically be enlisted on www.cvr.dk, where the National Gazette is published.

4. Register your employees

All your employees must be insured against accidents and occupational illnesses. To do this you need to choose an insurance company which will complete a form and register your company’s insurance policy with the DBA. To find out more about the insurance companies’ operating system you can go visit ww.forsikringogpension.dk.

So, what are you waiting for? Start your business in Denmark today and this time next week you can officially call yourself a Danish entrepreneur.

How to start a business in Burkina Faso

Well, well, well if it isn’t Burkina Faso today.
Let’s see what you need to do to start a new business here. First things first: here are some general data about Burkina Faso.

Burkina Faso is a low income economy located in Sub-Saharan Africa. It has a population of 16,460 million and a GNI (Gross National Income) per capita of 670 USD. Its capital city is Ouagadougou or Ouaga if you’re having trouble remembering.

Starting a business in Burkina Faso is relatively easy. You need to complete 3 procedures and wait for 13 days before your business is up and running. Let’s see in detail what is it exactly that you have to do :

• Where to address to register your company?

To register your company you need to address the Centre des Formalités de Entreprise (CEFORE)

• How many days are necessary to complete all the legal procedures?

13 days is the minimum time required for company registration.

• How many procedures are necessary to start a business?

You need to complete 3 procedures in order to legally register your company. Here they are:

1. Have your initial capital deposit with a bank

You will have to wait between 1 to 3 days before the bank releases you the paperwork conforming the initial capital subscription.

2. Address a public notary to notarize your company’s declaration of capital subscription

This procedure requires 3 days to complete and it will cost you 3% of your company’s declared capital. The declaration of capital subscription is mandatory in the registration process.

3. Register your company at Centre des Formalités de Entreprise (CEFORE)

For company registration, tax number (IFU), labor, and social security you need to address the Centre des Formalités de Entreprise. With a single application your company will be registered with the Trade Register and Personal Credit (RCCM), the fiscal authorities (at the Direction Générale des Impots) and Ministry of Commerce for professional license (carte professionnelle de commerçant). After submitting the form you will be issued an unique company identification number

The procedure requires 7 working days to be completed, but apparently, in practice, it can take longer.
The registration fee is 90.45USD or 47,500 XOF (West Africa Franc, CFA Franc)

That’s it!
Now, summing up: starting business in Burkina Faso requires 3 procedures, 13 working days and 90.45 USD in fees.

Are you in for the challenge?

How to start a business in France

Bonjour mes amis! Do you want to start a business in France? Here’s what you should know.

France has a population of 65,696 million people and a GNI (Gross National Income) per capita of 41.750 USD. In 2014 World Bank placed France on the 38th position in the aggregate ranking on the ease of doing business (out of 189 economies).

Starting a business in France is relatively easy. Let’s see why:

• Where do you need to address to register your company?

The Centre de Formalités des Entreprises (CFE) handles all formalities related to your business registration

• How many days are necessary to complete all the legal procedures?

You need to wait 6.5 working days until your business becomes operational

• How many procedures are necessary to start a business?

5 procedures are necessary. Here they are (Source: www.doingbusiness.org):

1. Have your company’s name checked for uniqueness
To do this you can go online at the Institut National de la Propriété Industrielle (INPI) website (www.inpi.fr/)
Checking for company’s name uniqueness is not mandatory but in the long run it will save you time and money. If another company operates under the name you have chosen you can face a lawsuit. So it’s better to be safe than sorry. Moreover checking the name is free of charge. However if you want to check similar trademarks you need to pay 40 EUR for three classes and 400 EUR for all classes.

The procedure requires half a day to complete

2. Deposit the minimum capital required by legislation

To deposit the initial capital you can either address a public notary, the bank or the Deposit and Consignment Office (Caisse des Dépôt). Your capital will be blocked throughout the entire registration process.

This procedure takes 1 working day and is free of charge.

3. Publish a notice of your company’s incorporation

The notice of incorporation must include your company’s name, your name (or the name of the assigned manager), share capital and registered office. The planned publication will be communicated to you through a letter from the legal journal.

This procedure takes 1 working day to complete and its cost depends on the notice’s length (for 30 lines of 40 characters each you need to pay 5.48 EUR).

4. Address the Centre de Formalités des Entreprises (CFE) for your company’s registration
To register your company you need to address the Centre de Formalités des Entreprises (CFE). The Center is responsible for all business registration procedures. After submitting the request the CFE enlists your company with the Registre Nationale des Entreprise (Répertoire SIRENE) and obtains identification numbers from the RNE: SIRENE number (Systéme Informatique pour le Répertoire des Entreprises), SIRET number (Systéme Informatique pour le Répertoire des Etablissements) used mainly by tax authorities, and NAF number (Nomenclature des Activitees Francaises)

The procedure requires 4 days to complete and cots 83.96 EUR.

5. Buy company books, have them stamped and initialed by the clerk of the commercial court

Before you can legally operate your business you need to buy special accounting books. These books can be found at the commercial court or specialized stores. Before you can use them you need to make sure that they are certified by the Commercial Court.

The procedure takes 1 day to complete (simultaneously with the previous procedure) and it costs 45 EUR for three books (15 EUR per book) and 3.11 EUR stamping fee

Summing up: You can start a business in France in 6.5 days, following 5 procedures and paying 137.55 EUR in fees.

How to start a business in Canada

O Canada!!! You will feel like singing their national anthem when you’ll read how easy it is to start a business in Canada. But first things first; here are some facts about Canada.

Canada has a population of 34,880 million people and a GNI (Gross National Income) per capita of 50.970 USD. In 2014, World Bank placed Canada on the 19^th position in the aggregate ranking on the ease of doing business (out of 189 economies). Here is why:

• Where to address to register your company?

You can register your business online via Industry Canada’s online Electronic Filing Centre. That simple!

• How many days are necessary to complete all the legal procedures?

You need 1 day to file the paperwork but you need to wait 5 working days until you receive your license to practice

• How many procedures are necessary to start a business?

ONE. That’s right. Only one procedure and your business is up and running.So here is what do you need to do

Register your company via Industry Canada’s online Electronic Filing Centre

You can submit the application from the comfort of your home/office. You need to prepare a dossier with the following documents for federal incorporation and provincial registration (Source: www.doingbusiness.org):
1. Form 1: Articles of Incorporation
2. Form 2: Initial Registered Office Address and First Board of Directors
3. Provincial registration form.

If you want to conduct business in other Canadian province you need to register to that province as well.

The registration procedure will cost you 178USD.

To sum up: starting a business in Canada is quite easy. It requires 5 working days and 178 USD.

Now, don’t you feel like singing?

"O Canada!
Our home and native land!
True patriot love in all thy sons command.
With glowing hearts we see thee rise,
The True North strong and free!
From far and wide,
O Canada, we stand on guard for thee.
God keep our land glorious and free!
O Canada, we stand on guard for thee.
O Canada, we stand on guard for thee.”