Start your own business presentation by Ridha Shimi

We had a nice presentation today, done by a guest from Udvikling Fyn (Development Fyn). The guests name is Ridha Shimi and he is a business consultant. He ofered his consulting service for free for anybody thats thinking of starting his own business. I’m a tech guy but entrepreneurship is not something distant from my current education (Product Development and Techonolgy Integration) and its also something that i have interest in since i was in grade school.

The topic for presentation is how to start your own business here, in Denmark. Many aspects of the presentation weren’t something new to me, but i learned more about how is it here in Denmark. On thing is the concept of “ethnic entrepreneurship” which is basically the status of self-emplyed. Another thing is company form and how do they differentiate from each other.

Company forms in Denmark

  • sole proprietorship (small business)
    • you are the only one legally reponsable for the company and it can be linked only to you
    • registration is free, it only requires NemID and it is done online on Virk.dk
  • partnernship (I/S) (small business)
    • a person is legally responsably for the company, but more than 1 can participate in running it
    • registration is the same as in sole proprietorship
  • private limited company Aps (ltd) (medium-size business)
    • mininum capital of 50000dkk cap soc (as of jan 1st 2014) + registration costs (lawyer, accountant etc)
  • entrepreneurial company IVS (medium-size business)
    • minimum capital between 1-49999 dkk (+ registration costs)
    • capital can be then built by adding 25% of profit until you can have a Aps
    • a relatively new company form, it ofers the same legal circumstances but it is less financial demanding to start
  • public limited company A/S (big business)
    • same legal circumstances as Aps
    • minimum capital of 500000 dkk (that’s a lot)

Not sure when, but i think i’m going to have a chat with Ridha about business posibilities here in Denmark. I’m not that attracted to this area (probably homesick) but its clearly a market worth “exploiting” – the main reason for this is the high income of danes.

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