How to create a company step by step

Putting into action a plan to start a business can be hard work, but it’s worth it. Find out how to turn your project into reality.

You have an idea for a business, a project that you dream of becoming a reality. create a company it involves planning, organization and some sacrifices, but the entrepreneurial spirit will bear well-deserved fruits.

The recent economic crisis seems to have awakened a will, an entrepreneurial spirit in many Portuguese, in the most diverse areas, from the textile industry to tourism. And the good news is that recent governments have taken steps to simplify the process.

If you include yourself in this group of enterprising people, stay with our step-by-step guide to starting a business. Put your determination to work. Good luck!

How to start a business in 9 steps

1. The idea

The basis of everything lies in the business idea you had and what your objective is for the product or service you want to produce/offer. These ideas have to be realistic and the person who wants to put them into practice too, because they have some work (with all their ups and downs) ahead of them. Put ideas in writing, turn them into something visual and palpable; it helps to have physical support, even if it’s just for you.

2. The type of company

This may be the most complex step of all. In what kind of company will you put your idea into practice? Will it be singular or collective? Get to know these typologies better.

singular form:

Collective form:

Inform yourself well to find out which option best suits your desires. Choose the one that suits you best and start taking the legal and bureaucratic processes to establish your company.

3. Market analysis

It is essential to listen to the market and test your idea. This is where you need to determine your target audience and find out if they need the product you want to sell. The market is always showing changes in consumption habits, so you should keep that aspect in mind and be ready to follow the changes. Never stop watching the market.

4. Business plan

That project you described in a visual medium needs to be formalized. The next step in starting a business is creating a business plan. This plan will be the business card for potential investors and clients. Keep in mind the time factor: starting a business is a time-consuming process, so the plan doesn’t need to be limited to that aspect. It should include the market analysis, the investment plan, the investment sources, the treasury and profitability plan, as well as the necessary human and material resources.

5. Marketing plan

Marketing has to be at a completely different level from the business plan, especially nowadays, when marketing plays an extremely fundamental role in the most diverse media, especially digital ones. It is a powerful tool that defines company and product policy, plans for the long term, anticipating decisions and reducing the chances of error, defines objectives and the means to achieve them. If this is not your area, consult a communication agency or consultant. Take into account the following steps:

• Diagnosis: analysis of the company and the market, competition, opportunities, customers;
• Goals;
• Strategy;
• Definition of the marketing mix;
• Action plans.

The marketing plan must both plan and anticipate and of course it also includes visual aspects: colors, logos, cards, email signatures, etc. Details that make the difference and reflect the degree of professionalism.

6. Financing

How will your company be financed? Private investors, equity, credit, microcredit, government support? By having an idea of ​​the costs, you will have a clear idea of ​​what direction to take. There are several entrepreneurship and microcredit programs to which you can apply.

7. Space and monthly budget

Where will your office be? Will it be at home, will you rent a space, will it be coworking? What fixed costs will you have per month? Electricity, water, internet, monthly taxes, rent, television, mobile phone, software, stationery, computers, tablets, etc. Make a detailed list, organize the initial budget and the monthly budget. Especially if you are going to hire someone to work with you.

8. Creation of the company

The bureaucratic processes you started must be completed. It’s the most boring part, but the one that will make it all real. Fortunately, nowadays you can do most of your tasks online. You can do it on the page Online Company, or in person at the Espaços Empresa branches (present, for example, at the Citizen’s Shops). You need the following documents, which you must request in advance from the corresponding services:

A legal advisor or a prior visit to the Entrepreneur’s Desk it can be a valuable help so that no mandatory documents are missing when creating a company.

9. Get to work!

And now it’s time to start producing, selling, getting noticed. In the first few times you will be able to understand what failed and what can be improved. Keep putting your entrepreneurial spirit to work towards success by continuing to set goals.